Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0299%/8h= +32.8% APRpaid last 24h +0.202%

Price spread now: Coinbase International against BloFin+0.565%7-day average +0.433% · you sell dearer than you buy

Net, funding: paid 7d − costs$0as in the Funding arb table

Net, price: spread back to 7d avg − costs−$58as in the Price arb table

costs, in and out, $10k−$710.708% of the position

Long on BloFin Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.711%+$71 on $10k

Price spread, last 4 days (all we have)+0.253%+$25 · spread now +0.565%, 7d avg +0.433%

Together, before fees+0.964%+$96 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Coinbase International is 0.133% dearer against BloFin than usual: you sell high and buy low: +$13 more if the spread goes back to its 7-day average of +0.433%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin OPENAI-USDT	1,619.8	0.0045	pay 0.0045% / 8h	7h 36m	$476K	$296K	20x
Short	Coinbase International OPENAI-PERP-INTX	1,629	0.0344	get 0.0043% / 1h	36m 28s	$236K	$172K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against BloFin. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BloFinbpFee Coinbase InternationalbpOrdersPrice spread, now +0.565%Rate

Funding earned: $62.86
Price spread: +0.565% → +0.433%: $13.26
Slippage, 4 orders: −$48.83
Fee BloFin: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $5.29
Costs to cover: 0.708%
Break-even: 6.4 days

Slippage from BloFin: live order book, 39 min ago; Coinbase International: live order book, 61 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy BloFin live order book, 39 min ago	0.40 bp	16.6 bp −$17	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International live order book, 61 min ago	8.07 bp	15.1 bp −$15	46.7 bp −$467	doesn't fit	doesn't fit

OPENAI on 22 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit OPENAI_USDC-PERPETUAL	−0.0085%	1h	1,620.2	+0.022%	$3K	$3K	5x	as long as short
QFEX OPENAI-USD	−0.0004%	1h	1,619	−0.052%	$1.2M	$632K	10x	as long as short
Bybit OPENAIUSDT	0.0000%	8h	1,658	+2.355%	$719K	$278K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,648.7	+1.782%	$5.1M	$1.3M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,618.1	−0.109%	$45.9M	$9.9M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,621.5	+0.104%	$5.4M	$3.9M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,621.6	+0.109%	—	$2.3M	10x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,620.2	+0.023%	$79K	$225K	20x	as long as short
Phemex OPENAIUSDT	0.0000%	8h	1,619.3	−0.033%	$1.6M	$498K	10x	as long as short
Lighter OPENAI	+0.0008%	1h	1,710.7	+5.607%	$1.4M	$274K	5x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH OPENAI	+0.0032%	1h	1,677.5	+3.557%	$2.7M	$6.2M	5x	as long as short
BloFin OPENAI-USDTlong	+0.0045%	8h	1,619.8	long leg	$476K	$296K	20x
Extended OPENAI-USD	+0.0048%	1h	1,618.7	−0.070%	$142K	$808K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,621.5	+0.105%	$211K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,619.2	−0.040%	$22.9M	$16.3M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,622.1	+0.140%	$6.6M	$2.4M	50x	as long as short
KuCoin OPENAIUSDTM	+0.0050%	8h	1,620.7	+0.052%	$373K	$103K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,624.1	+0.262%	$2.6M	$760K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,624	+0.254%	$2K	$173K	10x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,618.8	−0.062%	—	—	10x	as long as short
Entropy io:OAI	+0.0237%	1h	1,670.5	+3.127%	$7.6M	$2.3M	6x	as long as short
Coinbase International OPENAI-PERP-INTXshort	+0.0344%	1h	1,629	+0.565%	$236K	$172K	5x