Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.014%

Price spread now: Binance against Lighter−5.303%7-day average — · you buy dearer than you sell

Net, funding: paid 7d − costs−$56as in the Funding arb table

Net, price: spread back to 7d avg − costs−$596as in the Price arb table

costs, in and out, $10k−$660.658% of the position

Long on Lighter Short on Binance

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

Funding pays, the price is against you. Binance is 5.303% cheaper against Lighter than usual: you would sell low and buy high (spread −5.303% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$530 on $10k: about 12 months of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter OPENAI	1,709.9	0	get 0.0000% / 1h	16m 57s	$1.4M	$265K	5x
Short	Binance OPENAIUSDT	1,619.2	0.0050	get 0.0050% / 8h	3h 16m	$22.8M	$17.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Lighter. 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 LighterbpFee BinancebpOrdersPrice spread, now −5.303%Rate

Funding earned: $10.5
Price spread: −5.303% → 0.000%: −$530.3
Slippage, 4 orders: −$55.81
Fee Lighter: 0 bp × 2 orders: $0
Fee Binance: 5 bp × 2 orders: −$10
Net: −$585.61
Costs to cover: 0.658%
Break-even: 397.4 days

Slippage from Lighter: live order book, 4 min ago; Binance: live order book, 9 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 Lighter live order book, 4 min ago	1.17 bp	14.6 bp −$15	456.9 bp −$4,569	doesn't fit	doesn't fit
Sell Binance live order book, 9 min ago	0.86 bp	14.1 bp −$14	56.4 bp −$564	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	−0.0001%	1h	1,619.3	−5.295%	$1.2M	$575K	10x	as long as short
Lighter OPENAIlong	0.0000%	1h	1,709.9	long leg	$1.4M	$265K	5x
Bybit OPENAIUSDT	0.0000%	8h	1,662.1	−2.793%	$754K	$206K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,650.3	−3.483%	$5.1M	$1.3M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,615.9	−5.498%	$52.3M	$25.4M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,620.5	−5.226%	$5.5M	$4.9M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,621.3	−5.179%	—	$2.4M	10x	as long as short
Deribit OPENAI_USDC-PERPETUAL	0.0000%	1h	1,619.6	−5.279%	—	$3	5x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,620	−5.254%	$79K	$221K	20x	as long as short
Phemex OPENAIUSDT	0.0000%	8h	1,618.2	−5.363%	$1.6M	$534K	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	1,677.6	−1.886%	$2.7M	$6.2M	5x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,618.7	−5.329%	$142K	$737K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,622.5	−5.106%	$211K	$3K	20x	as long as short
Binance OPENAIUSDTshort	+0.0050%	8h	1,619.2	−5.303%	$22.8M	$17.6M	20x
MEXC OPENAI_USDT	+0.0050%	8h	1,618.9	−5.318%	$13.0M	$3.2M	50x	as long as short
KuCoin OPENAIUSDTM	+0.0050%	8h	1,623.1	−5.074%	$375K	$68K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,620.4	−5.230%	$2.6M	$766K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,620.6	−5.222%	$2K	$160K	10x	as long as short
Coinbase International OPENAI-PERP-INTX	+0.0056%	1h	1,623.9	−5.027%	$226K	$161K	5x	as long as short
BloFin OPENAI-USDT	+0.0063%	8h	1,618.9	−5.317%	$473K	$286K	20x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,618.9	−5.316%	—	—	10x	as long as short
Entropy io:OAI	+0.0107%	1h	1,670.1	−2.325%	$7.6M	$2.3M	6x	as long as short