Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.014%

Price spread now: Lighter against KuCoin+5.658%7-day average — · you sell dearer than you buy

Net, funding: paid 7d − costs−$3,554as in the Funding arb table

Net, price: spread back to 7d avg − costs−$2,978as in the Price arb table

costs, in and out, $10k−$3,54435.442% of the position

Long on KuCoin Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.102%−$10 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories

The price spread pays, funding is against you. Lighter is 5.658% dearer against KuCoin than usual: you sell high and buy low (spread +5.658% now, against zero (this spread has no 7-day history yet)): +$566 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 13 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin OPENAIUSDTM	1,618.3	0.0050	pay 0.0050% / 8h	2h 10m	$372K	$70K	20x
Short	Lighter OPENAI	1,709.9	0	get 0.0000% / 1h	10m 13s	$1.4M	$265K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +5.658%Rate

Funding earned: −$10.5
Price spread: +5.658% → 0.000%: $565.77
Slippage, 4 orders: −$3,532.25
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$2,988.98
Costs to cover: 35.442%
Break-even: never at this rate

Slippage from KuCoin: live order book, 47 min ago; Lighter: live order book, 1 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, 47 min ago	8.00 bp	603.3 bp −$603	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 1 min ago	2.11 bp	20.9 bp −$21	94.8 bp −$948	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	−0.0005%	1h	1,618.8	+0.028%	$1.2M	$607K	10x	as long as short
Lighter OPENAIshort	0.0000%	1h	1,709.9	+5.658%	$1.4M	$265K	5x
Bybit OPENAIUSDT	0.0000%	8h	1,659.5	+2.543%	$753K	$205K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,646.8	+1.759%	$5.1M	$1.3M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,616	−0.146%	$52.3M	$19.7M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,620.1	+0.109%	$5.4M	$5.0M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,619.1	+0.048%	—	$2.4M	10x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,617.2	−0.073%	$79K	$225K	20x	as long as short
Phemex OPENAIUSDT	0.0000%	8h	1,618.5	+0.011%	$1.6M	$521K	10x	as long as short
Coinbase International OPENAI-PERP-INTX	+0.0016%	1h	1,620.9	+0.160%	$226K	$161K	5x	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	1,676.9	+3.617%	$2.7M	$6.2M	5x	as long as short
BloFin OPENAI-USDT	+0.0034%	8h	1,617.6	−0.043%	$470K	$289K	20x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,619.2	+0.051%	$141K	$896K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,622.5	+0.258%	$211K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,618.4	+0.007%	$22.8M	$17.4M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,619.5	+0.074%	$13.1M	$3.1M	50x	as long as short
KuCoin OPENAIUSDTMlong	+0.0050%	8h	1,618.3	long leg	$372K	$70K	20x
Variational Omni OPENAI	+0.0050%	8h	1,616.6	−0.106%	$2.6M	$760K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,616.1	−0.136%	$2K	$170K	10x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,619.3	+0.062%	—	—	10x	as long as short
Deribit OPENAI_USDC-PERPETUAL	+0.0106%	1h	1,619.6	+0.077%	—	$3	5x	as long as short
Entropy io:OAI	+0.0143%	1h	1,666.7	+2.989%	$7.6M	$2.3M	6x	as long as short