Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0010%/8h= −1.1% APRpaid last 24h +0.188%

Price spread now: QFEX against HTX−0.034%7-day average +0.013% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$85as in the Price arb table

costs, in and out, $10k−$810.806% of the position

Long on HTX Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.184%+$18 on $10k

Price spread, last 3 days (all we have)+0.085%+$8 · spread now −0.034%, 7d avg +0.013%

Together, before fees+0.269%+$27 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and QFEX is 0.047% cheaper against HTX than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.013%). Swap the legs. Mind the row above: over the last 3 days funding on this pair paid +0.184%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX OPENAI-USDT	1,632.3	0	get 0.0000% / 8h	14m 31s	$79K	$214K	20x
Short	QFEX OPENAI-USD	1,631.7	−0.0010	pay 0.0001% / 1h	14m 31s	$1.2M	$387K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against HTX. 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 HTXbpFee QFEXbpOrdersPrice spread, now −0.034%Rate

Funding earned: −$2.17
Price spread: −0.034% → +0.013%: −$4.68
Slippage, 4 orders: −$58.63
Fee HTX: 6 bp × 2 orders: −$12
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$87.48
Costs to cover: 0.806%
Break-even: never at this rate

Slippage from HTX: live order book, 62 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 HTX live order book, 62 min ago	4.14 bp	19.1 bp −$19	doesn't fit	doesn't fit	doesn't fit
Sell QFEX live order book, 2 min ago	1.56 bp	9.0 bp −$9	16.3 bp −$163	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	−0.0168%	1h	1,632.3	−0.001%	$236K	$149K	5x	as long as short
QFEX OPENAI-USDshort	−0.0010%	1h	1,631.7	−0.034%	$1.2M	$387K	10x
Lighter OPENAI	0.0000%	1h	1,711.1	+4.833%	$1.4M	$287K	5x	as long as short
Bybit OPENAIUSDT	0.0000%	8h	1,676.4	+2.705%	$772K	$210K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,660.9	+1.755%	$5.1M	$1.3M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,628.7	−0.217%	$52.7M	$39.6M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,632.6	+0.018%	$5.5M	$5.1M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,633.2	+0.058%	—	$2.6M	10x	as long as short
HTX OPENAI-USDTlong	0.0000%	8h	1,632.3	long leg	$79K	$214K	20x
Phemex OPENAIUSDT	0.0000%	8h	1,632	−0.013%	$1.6M	$558K	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	1,683.3	+3.124%	$2.6M	$6.3M	5x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,631.5	−0.046%	$132K	$667K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,637	+0.291%	$213K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,631.7	−0.036%	$23.2M	$18.8M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,632	−0.015%	$13.0M	$3.2M	50x	as long as short
KuCoin OPENAIUSDTM	+0.0050%	8h	1,634.1	+0.110%	$377K	$63K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,631.7	−0.036%	$2.6M	$751K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,628.9	−0.204%	$2K	$140K	10x	as long as short
BloFin OPENAI-USDT	+0.0075%	8h	1,632.7	+0.024%	$474K	$279K	20x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,631.9	−0.022%	—	—	10x	as long as short
Entropy io:OAI	+0.0249%	1h	1,673.7	+2.539%	$7.4M	$2.2M	6x	as long as short
Deribit OPENAI_USDC-PERPETUAL	+0.1030%	1h	1,633.7	+0.087%	—	$3	5x	as long as short