Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0152%/8h= +16.6% APRpaid last 24h +0.251%

Price spread now: Entropy against HTX+3.377%7-day average +4.342% · you sell dearer than you buy

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

Long on HTX Short on Entropy

What this pair did over the last

the charts below follow

Funding, last 7 days+0.783%+$78 on $10k

Price spread, last 4 days (all we have)+2.183%+$218 · spread now +3.377%, 7d avg +4.342%

Together, before fees+2.966%+$297 on $10k · with fees, hour by hour

Funding pays, the price is against you. Entropy is 0.965% cheaper against HTX than usual: you would sell low and buy high (spread +3.377% now, against its 7-day average of +4.342%). If the spread goes back, that is −$96 on $10k: about 21 days of funding at the current rate (+$5 a day). At the pace of the last 7 days (+0.783% in total) that is about 8.6 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX OPENAI-USDT	1,615.5	0	get 0.0000% / 8h	1h 15m	$79K	$231K	20x
Short	Entropy io:OAI	1,670.1	0.0152	get 0.0019% / 1h	15m 08s	$7.7M	$2.3M	6x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Entropy against HTX. 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 HTXbpFee EntropybpOrdersPrice spread, now +3.377%Rate

Funding earned: $31.83
Price spread: +3.377% → +4.342%: −$96.47
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee Entropy: 9 bp × 2 orders: −$18
Net: −$94.64
Costs to cover: 0.300%
Break-even: 27.8 days

Slippage unknown: HTX: live order book, 26 min ago; Entropy: live order book, 2 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 HTX live order book, 26 min ago	3.89 bp	16.8 bp −$17	56.9 bp −$569	doesn't fit	doesn't fit
Sell Entropy live order book, 2 min ago	3.29 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	−0.0002%	1h	1,616.7	+0.074%	$1.2M	$618K	10x	as long as short
Lighter OPENAI	0.0000%	1h	1,712.2	+5.982%	$1.4M	$266K	5x	as long as short
Bybit OPENAIUSDT	0.0000%	8h	1,658.5	+2.659%	$753K	$205K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,647	+1.947%	$5.1M	$1.3M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,612.5	−0.186%	$44.6M	$18.3M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,617.3	+0.108%	$5.4M	$4.7M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,617.8	+0.140%	—	$2.4M	10x	as long as short
Deribit OPENAI_USDC-PERPETUAL	0.0000%	1h	1,616.5	+0.058%	—	$3	5x	as long as short
HTX OPENAI-USDTlong	0.0000%	8h	1,615.5	long leg	$79K	$231K	20x
Phemex OPENAIUSDT	0.0000%	8h	1,615.1	−0.027%	$1.6M	$512K	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	1,678.9	+3.921%	$2.7M	$6.1M	5x	as long as short
Coinbase International OPENAI-PERP-INTX	+0.0040%	1h	1,624.3	+0.543%	$226K	$162K	5x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,616.5	+0.056%	$141K	$586K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,619.4	+0.240%	$211K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,616.6	+0.068%	$22.8M	$17.7M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,618	+0.155%	$8.0M	$4.9M	50x	as long as short
KuCoin OPENAIUSDTM	+0.0050%	8h	1,623	+0.462%	$373K	$70K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,616.7	+0.074%	$2.6M	$757K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,620.9	+0.330%	$2K	$179K	10x	as long as short
BloFin OPENAI-USDT	+0.0056%	8h	1,615.9	+0.020%	$471K	$296K	20x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,616.4	+0.053%	—	—	10x	as long as short
Entropy io:OAIshort	+0.0152%	1h	1,670.1	+3.377%	$7.7M	$2.3M	6x