Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0060%/8h= −6.6% APRpaid last 24h −0.057%

Price spread now: Binance against Entropy−2.654%7-day average −4.075% · you buy dearer than you sell

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

Long on Entropy Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.505%−$51 on $10k

Price spread, last 2 days (all we have)−1.310%−$131 · spread now −2.654%, 7d avg −4.075%

Together, before fees−1.816%−$182 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Binance is 1.421% dearer against Entropy than usual: you sell high and buy low (spread −2.654% now, against its 7-day average of −4.075%): +$142 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 3 months. At the pace of the last 7 days (−0.505% in total) that is about 20 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Entropy io:OAI	1,673.4	0.0110	pay 0.0014% / 1h	1m 49s	$7.4M	$2.2M	6x
Short	Binance OPENAIUSDT	1,629	0.0050	get 0.0050% / 8h	7h 01m	$23.1M	$18.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Entropy. 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 EntropybpFee BinancebpOrdersPrice spread, now −2.654%Rate

Funding earned: −$12.61
Price spread: −2.654% → −4.075%: $142.07
Slippage, 4 orders: no order book: not counted
Fee Entropy: 9 bp × 2 orders: −$18
Fee Binance: 5 bp × 2 orders: −$10
Net: $101.46
Costs to cover: 0.280%
Break-even: from the start

Slippage unknown: Entropy: live order book, 5 min ago; Binance: live order book, 9 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 Entropy live order book, 5 min ago	1.79 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 9 min ago	0.86 bp	10.3 bp −$10	10.8 bp −$108	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
Coinbase International OPENAI-PERP-INTX	−0.0024%	1h	1,630.6	−2.555%	$226K	$150K	5x	as long as short
QFEX OPENAI-USD	0.0000%	1h	1,629.1	−2.646%	$1.2M	$421K	10x	as long as short
Lighter OPENAI	0.0000%	1h	1,714.6	+2.461%	$1.4M	$288K	5x	as long as short
Bybit OPENAIUSDT	0.0000%	8h	1,670	−0.203%	$768K	$207K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,657.6	−0.944%	$5.1M	$1.3M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,626.5	−2.803%	$52.6M	$39.2M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,629.8	−2.604%	$5.5M	$5.1M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,629.1	−2.647%	—	$2.5M	10x	as long as short
Deribit OPENAI_USDC-PERPETUAL	0.0000%	1h	1,630.7	−2.551%	—	$3	5x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,630.7	−2.555%	$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	1,628.7	−2.672%	$1.6M	$563K	10x	as long as short
Lighter RH OPENAI	+0.0032%	1h	1,681.7	+0.496%	$2.7M	$6.3M	5x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,628.7	−2.672%	$132K	$716K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,636.3	−2.216%	$213K	$3K	20x	as long as short
Binance OPENAIUSDTshort	+0.0050%	8h	1,629	−2.654%	$23.1M	$18.9M	20x
MEXC OPENAI_USDT	+0.0050%	8h	1,629.2	−2.643%	$13.1M	$3.2M	50x	as long as short
KuCoin OPENAIUSDTM	+0.0050%	8h	1,631.6	−2.498%	$377K	$67K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,629	−2.653%	$2.6M	$758K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,628.9	−2.660%	$2K	$138K	10x	as long as short
BloFin OPENAI-USDT	+0.0061%	8h	1,630	−2.594%	$475K	$280K	20x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,629.1	−2.645%	—	—	10x	as long as short
Entropy io:OAIlong	+0.0110%	1h	1,673.4	long leg	$7.4M	$2.2M	6x