Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0056%/8h= −6.1% APRpaid last 24h −0.241%

Price spread now: Bitget against Coinbase International−0.113%7-day average −0.469% · you buy dearer than you sell

Net, funding: paid 7d − costs−$206as in the Funding arb table

Net, price: spread back to 7d avg − costs−$89as in the Price arb table

costs, in and out, $10k−$1251.249% of the position

Long on Coinbase International Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.812%−$81 on $10k

Price spread, last 4 days (all we have)−1.098%−$110 · spread now −0.113%, 7d avg −0.469%

Together, before fees−1.910%−$191 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bitget is 0.356% dearer against Coinbase International than usual: you sell high and buy low (spread −0.113% now, against its 7-day average of −0.469%): +$36 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 21 days. At the pace of the last 7 days (−0.812% in total) that is about 3.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International OPENAI-PERP-INTX	1,623.9	0.0056	pay 0.0007% / 1h	20m 05s	$226K	$161K	5x
Short	Bitget OPENAIUSDT	1,622.1	0	get 0.0000% / 8h	3h 20m	$5.5M	$4.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Coinbase International. 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 Coinbase InternationalbpFee BitgetbpOrdersPrice spread, now −0.113%Rate

Funding earned: −$11.76
Price spread: −0.113% → −0.469%: $35.62
Slippage, 4 orders: −$102.95
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$101.09
Costs to cover: 1.249%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 33 min ago; Bitget: live order book, 3 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 Coinbase International live order book, 33 min ago	5.73 bp	30.8 bp −$31	55.8 bp −$558	doesn't fit	doesn't fit
Sell Bitget live order book, 3 min ago	0.92 bp	36.0 bp −$36	65.0 bp −$650	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	−0.0001%	1h	1,620.4	−0.214%	$1.2M	$574K	10x	as long as short
Lighter OPENAI	0.0000%	1h	1,710.3	+5.323%	$1.4M	$265K	5x	as long as short
Bybit OPENAIUSDT	0.0000%	8h	1,663.2	+2.421%	$755K	$206K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,650.9	+1.663%	$5.1M	$1.3M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,616.6	−0.446%	$52.3M	$25.4M	50x	as long as short
Bitget OPENAIUSDTshort	0.0000%	8h	1,622.1	−0.113%	$5.5M	$4.9M	20x
SunX OPENAI-USDT	0.0000%	8h	1,622.5	−0.086%	—	$2.4M	10x	as long as short
Deribit OPENAI_USDC-PERPETUAL	0.0000%	1h	1,620.8	−0.190%	—	$3	5x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,620.7	−0.198%	$79K	$221K	20x	as long as short
Phemex OPENAIUSDT	0.0000%	8h	1,619.5	−0.268%	$1.6M	$535K	10x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin OPENAI-USDT	+0.0023%	8h	1,620.8	−0.190%	$473K	$287K	20x	as long as short
Lighter RH OPENAI	+0.0032%	1h	1,678.4	+3.358%	$2.7M	$6.2M	5x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,620	−0.240%	$142K	$737K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,623.7	−0.014%	$212K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,620.2	−0.226%	$22.8M	$17.6M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,620.1	−0.233%	$13.0M	$3.2M	50x	as long as short
KuCoin OPENAIUSDTM	+0.0050%	8h	1,623.1	−0.049%	$375K	$68K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,620.4	−0.213%	$2.6M	$766K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,620.6	−0.201%	$2K	$159K	10x	as long as short
Coinbase International OPENAI-PERP-INTXlong	+0.0056%	1h	1,623.9	long leg	$226K	$161K	5x
Aevo OPENAI-PERP	+0.0104%	1h	1,620.2	−0.229%	—	—	10x	as long as short
Entropy io:OAI	+0.0109%	1h	1,670.6	+2.876%	$7.6M	$2.3M	6x	as long as short