Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0005%/8h= −0.5% APRpaid last 24h −0.001%

Price spread now: QFEX against Gate+0.208%7-day average +0.126% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$33as in the Price arb table

costs, in and out, $10k−$410.408% of the position

Long on Gate Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.004%$0 on $10k

Price spread, last 7 days−0.036%−$4 · spread now +0.208%, 7d avg +0.126%

Together, before fees−0.040%−$4 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: QFEX is 0.082% dearer against Gate than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of +0.126%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate OPENAI_USDT	1,615.5	0	get 0.0000% / 8h	2h 04m	$52.3M	$19.7M	50x
Short	QFEX OPENAI-USD	1,618.9	−0.0005	pay 0.0001% / 1h	4m 05s	$1.2M	$611K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against Gate. 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 GatebpFee QFEXbpOrdersPrice spread, now +0.208%Rate

Funding earned: −$1.01
Price spread: +0.208% → +0.126%: $8.2
Slippage, 4 orders: −$15.8
Fee Gate: 7.5 bp × 2 orders: −$15
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$33.61
Costs to cover: 0.408%
Break-even: never at this rate

Slippage from Gate: live order book, 5 min ago; QFEX: live order book, 2 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 Gate live order book, 5 min ago	0.87 bp	15.4 bp −$15	215.9 bp −$2,159	doesn't fit	doesn't fit
Sell QFEX live order book, 2 min ago	0.99 bp	9.1 bp −$9	15.4 bp −$154	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-USDshort	−0.0005%	1h	1,618.9	+0.208%	$1.2M	$611K	10x
Lighter OPENAI	0.0000%	1h	1,711.7	+5.953%	$1.4M	$265K	5x	as long as short
Bybit OPENAIUSDT	0.0000%	8h	1,659.5	+2.722%	$753K	$205K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,648.2	+2.022%	$5.1M	$1.4M	20x	as long as short
Gate OPENAI_USDTlong	0.0000%	8h	1,615.5	long leg	$52.3M	$19.7M	50x
Bitget OPENAIUSDT	0.0000%	8h	1,619.2	+0.227%	$5.4M	$5.0M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,619.7	+0.258%	—	$2.4M	10x	as long as short
Deribit OPENAI_USDC-PERPETUAL	0.0000%	1h	1,619.1	+0.219%	—	$3	5x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,619.8	+0.266%	$79K	$226K	20x	as long as short
Phemex OPENAIUSDT	0.0000%	8h	1,618.7	+0.194%	$1.6M	$520K	10x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International OPENAI-PERP-INTX	+0.0016%	1h	1,622.8	+0.450%	$226K	$162K	5x	as long as short
BloFin OPENAI-USDT	+0.0023%	8h	1,619.6	+0.253%	$469K	$290K	20x	as long as short
Lighter RH OPENAI	+0.0032%	1h	1,678.3	+3.885%	$2.7M	$6.2M	5x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,618.6	+0.193%	$141K	$896K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,622.9	+0.454%	$211K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,619.1	+0.221%	$22.8M	$17.4M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,618.8	+0.205%	$13.0M	$3.2M	50x	as long as short
KuCoin OPENAIUSDTM	+0.0050%	8h	1,620.1	+0.284%	$372K	$71K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,619.1	+0.218%	$2.6M	$759K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,618.4	+0.177%	$2K	$171K	10x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,618.3	+0.171%	—	—	10x	as long as short
Entropy io:OAI	+0.0165%	1h	1,669.3	+3.328%	$7.6M	$2.3M	6x	as long as short