Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0087%/8h= +9.5% APRpaid last 24h +0.049%

Price spread now: Entropy against BloFin+3.051%7-day average +4.305% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on BloFin Short on Entropy

What this pair did over the last

the charts below follow

Funding, last 7 days+0.484%+$48 on $10k

Price spread, last 4 days (all we have)+2.423%+$242 · spread now +3.051%, 7d avg +4.305%

Together, before fees+2.907%+$291 on $10k · with fees, hour by hour

Funding pays, the price is against you. Entropy is 1.255% cheaper against BloFin than usual: you would sell low and buy high (spread +3.051% now, against its 7-day average of +4.305%). If the spread goes back, that is −$125 on $10k: about 48 days of funding at the current rate (+$3 a day). At the pace of the last 7 days (+0.484% in total) that is about 18 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin OPENAI-USDT	1,615.9	0.0035	pay 0.0035% / 8h	10m 04s	$475K	$294K	20x
Short	Entropy io:OAI	1,665.2	0.0122	get 0.0015% / 1h	10m 04s	$7.6M	$2.3M	6x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

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

latest

Price spreadloading…

Funding on every exchange

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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 EntropybpOrdersPrice spread, now +3.051%Rate

Funding earned: $18.22
Price spread: +3.051% → +4.305%: −$125.46
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Entropy: 9 bp × 2 orders: −$18
Net: −$137.23
Costs to cover: 0.300%
Break-even: 59.7 days

Slippage unknown: BloFin: live order book, 6 min ago; Entropy: live order book, 7 min ago. Net counts fees only.

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, 6 min ago	0.40 bp	16.6 bp −$17	doesn't fit	doesn't fit	doesn't fit
Sell Entropy live order book, 7 min ago	2.70 bp	doesn't fit	doesn't fit	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
QFEX OPENAI-USD	−0.0005%	1h	1,616.2	+0.015%	$1.2M	$627K	10x	as long as short
Lighter OPENAI	0.0000%	1h	1,705.9	+5.567%	$1.4M	$269K	5x	as long as short
Bybit OPENAIUSDT	0.0000%	8h	1,653.9	+2.350%	$735K	$269K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,641.2	+1.566%	$5.1M	$1.3M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,614.9	−0.059%	$45.5M	$14.0M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,617.6	+0.108%	$5.3M	$4.5M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,617.8	+0.118%	—	$2.4M	10x	as long as short
Deribit OPENAI_USDC-PERPETUAL	0.0000%	1h	1,617.6	+0.103%	—	$3	5x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,617.1	+0.075%	$79K	$225K	20x	as long as short
Phemex OPENAIUSDT	0.0000%	8h	1,616.3	+0.025%	$1.6M	$502K	10x	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	1,672.7	+3.513%	$2.7M	$6.2M	5x	as long as short
BloFin OPENAI-USDTlong	+0.0035%	8h	1,615.9	long leg	$475K	$294K	20x
Extended OPENAI-USD	+0.0048%	1h	1,616.3	+0.022%	$142K	$806K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,619.2	+0.205%	$211K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,616.6	+0.046%	$22.8M	$16.7M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,616.6	+0.040%	$6.6M	$5.0M	50x	as long as short
KuCoin OPENAIUSDTM	+0.0050%	8h	1,616.4	+0.028%	$372K	$72K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,615.5	−0.027%	$2.6M	$760K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,616.4	+0.030%	$2K	$176K	10x	as long as short
Coinbase International OPENAI-PERP-INTX	+0.0072%	1h	1,623.7	+0.485%	$235K	$174K	5x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,616.6	+0.044%	—	—	10x	as long as short
Entropy io:OAIshort	+0.0122%	1h	1,665.2	+3.051%	$7.6M	$2.3M	6x