Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0002%/8h= −0.2% APRpaid last 24h −0.001%

Price spread now: Extended against KuCoin−0.654%7-day average −0.098% · you buy dearer than you sell

Net, funding: paid 7d − costs−$1,156as in the Funding arb table

Net, price: spread back to 7d avg − costs−$1,211as in the Price arb table

costs, in and out, $10k−$1,15611.555% of the position

Long on KuCoin Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.004%$0 on $10k

Price spread, last 4 days (all we have)+0.760%+$76 · spread now −0.654%, 7d avg −0.098%

Together, before fees+0.756%+ Points / potential airdropExtended: Active · farm board+$76 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: Extended is 0.557% cheaper against KuCoin than usual: you would sell low and buy high, −$56 on $10k if it goes back to its 7-day average of −0.098%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin OPENAIUSDTM	1,637.1	0.0050	pay 0.0050% / 8h	7h 46m	$379K	$65K	20x
Short	Extended OPENAI-USD	1,626.4	0.0048	get 0.0006% / 1h	46m 06s	$132K	$757K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against KuCoin. 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 KuCoinbpFee ExtendedbpOrdersPrice spread, now −0.654%Rate

Funding earned: −$0.42
Price spread: −0.654% → −0.098%: −$55.66
Slippage, 4 orders: −$1,138.54
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$1,211.62
Costs to cover: 11.555%
Break-even: never at this rate

Slippage from KuCoin: live order book, 6 min ago; Extended: live order book, 27 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 KuCoin live order book, 6 min ago	6.72 bp	581.4 bp −$581	doesn't fit	doesn't fit	doesn't fit
Sell Extended live order book, 27 min ago	3.68 bp	37.5 bp −$37	262.4 bp −$2,624	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	1,630.8	−0.384%	$231K	$151K	5x	as long as short
QFEX OPENAI-USD	0.0000%	1h	1,626.7	−0.635%	$1.2M	$386K	10x	as long as short
Lighter OPENAI	0.0000%	1h	1,709.2	+4.405%	$1.4M	$282K	5x	as long as short
Bybit OPENAIUSDT	0.0000%	8h	1,671.7	+2.112%	$770K	$209K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,660	+1.399%	$5.1M	$1.4M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,624.4	−0.773%	$52.6M	$39.2M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,628	−0.555%	$5.5M	$5.1M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,627.9	−0.561%	—	$2.6M	10x	as long as short
Deribit OPENAI_USDC-PERPETUAL	0.0000%	1h	1,629	−0.492%	—	$3	5x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,627.5	−0.585%	$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	−0.600%	$1.6M	$561K	10x	as long as short
Lighter RH OPENAI	+0.0032%	1h	1,681.1	+2.686%	$2.7M	$6.2M	5x	as long as short
BloFin OPENAI-USDT	+0.0042%	8h	1,628.2	−0.545%	$475K	$277K	20x	as long as short
Extended OPENAI-USDshort	+0.0048%	1h	1,626.4	−0.654%	$132K	$757K	10x
Aster OPENAIUSDT	+0.0050%	8h	1,634	−0.186%	$213K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,626.9	−0.620%	$23.1M	$18.9M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,627.1	−0.609%	$13.1M	$3.2M	50x	as long as short
KuCoin OPENAIUSDTMlong	+0.0050%	8h	1,637.1	long leg	$379K	$65K	20x
Variational Omni OPENAI	+0.0050%	8h	1,627.2	−0.602%	$2.6M	$752K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,630.6	−0.394%	$2K	$139K	10x	as long as short
Entropy io:OAI	+0.0072%	1h	1,675.4	+2.340%	$7.4M	$2.2M	6x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,627.4	−0.595%	—	—	10x	as long as short