Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0124%/8h= +13.6% APRpaid last 24h —

Price spread now: Variational Omni against Deribit−0.061%7-day average — · you buy dearer than you sell

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

Long on Deribit Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 13 hours (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Funding pays, the price is against you. Variational Omni is 0.061% cheaper against Deribit than usual: you would sell low and buy high (spread −0.061% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$6 on $10k: about 40 hours of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit OPENAI_USDC-PERPETUAL	1,627.8	−0.0074	get 0.0009% / 1h	49m 05s	—	$3	5x
Short	Variational Omni OPENAI	1,626.8	0.0050	get 0.0050% / 8h	7h 49m	$2.6M	$752K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Deribit. 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 DeribitbpFee Variational OmnibpOrdersPrice spread, now −0.061%Rate

Funding earned: $26.02
Price spread: −0.061% → 0.000%: −$6.13
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $12.9
Costs to cover: 0.070%
Break-even: 3.5 days

Slippage unknown: Deribit: no order-book sample; Variational Omni: RFQ quote, 5 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 Deribit no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 5 min ago	3.04 bp	doesn't fit	84.2 bp −$842	doesn't fit	doesn't fit

Deribit: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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-PERPETUALlong	−0.0074%	1h	1,627.8	long leg	—	$3	5x
Coinbase International OPENAI-PERP-INTX	−0.0024%	1h	1,627.8	+0.001%	$230K	$152K	5x	as long as short
QFEX OPENAI-USD	0.0000%	1h	1,627.8	+0.001%	$1.2M	$386K	10x	as long as short
Lighter OPENAI	0.0000%	1h	1,709.8	+5.036%	$1.4M	$282K	5x	as long as short
Bybit OPENAIUSDT	0.0000%	8h	1,671.7	+2.696%	$770K	$209K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,660.3	+1.996%	$5.1M	$1.4M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,624.8	−0.188%	$52.6M	$39.2M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,628	+0.014%	$5.5M	$5.1M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,628.8	+0.061%	—	$2.6M	10x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,627.9	+0.004%	$79K	$214K	20x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex OPENAIUSDT	0.0000%	8h	1,627.3	−0.033%	$1.6M	$561K	10x	as long as short
Lighter RH OPENAI	+0.0032%	1h	1,681.6	+3.303%	$2.7M	$6.2M	5x	as long as short
BloFin OPENAI-USDT	+0.0036%	8h	1,628.2	+0.022%	$473K	$278K	20x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,627.7	−0.004%	$134K	$715K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,634.5	+0.408%	$213K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,627.9	+0.008%	$23.1M	$18.9M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,627.5	−0.018%	$13.1M	$3.2M	50x	as long as short
KuCoin OPENAIUSDTM	+0.0050%	8h	1,637.1	+0.570%	$378K	$65K	20x	as long as short
Variational Omni OPENAIshort	+0.0050%	8h	1,626.8	−0.061%	$2.6M	$752K	—
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,631.6	+0.233%	$2K	$139K	10x	as long as short
Entropy io:OAI	+0.0091%	1h	1,676.2	+2.973%	$7.4M	$2.2M	6x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,627.9	+0.003%	—	—	10x	as long as short