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Funding arb · Price arb /

OPENAI

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.001%
Price spread now: Bybit against Lighter−2.578%7-day average −3.636% · you buy dearer than you sell
Net, funding: paid 7d − costs−$223as in the Funding arb table
Net, price: spread back to 7d avg − costs−$117as in the Price arb table
costs, in and out, $10k−$2222.224% of the position
Long on LighterShort on Bybit
What this pair did over the last
the charts below follow
Funding, last 7 days−0.003%$0 on $10k
Price spread, last 4 days (all we have)−2.173%−$217 · spread now −2.578%, 7d avg −3.636%
Together, before fees−2.176%+ Points / potential airdropLighter: Season 3 · farm board−$218 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: Bybit is 1.057% dearer against Lighter than usual: you sell high and buy low, +$106 on $10k if it goes back to its 7-day average of −3.636%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongLighter OPENAI1,708.50get 0.0000% / 1h26m 27s$1.4M$269K5x
ShortBybit OPENAIUSDT1,664.40get 0.0000% / 8h5h 26m$761K$204K25x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bybit against Lighter. 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

Funding earned
$0
Price spread: −2.578% → −3.636%
$105.74
Slippage, 4 orders
−$211.37
Fee Lighter: 0 bp × 2 orders
$0
Fee Bybit: 5.5 bp × 2 orders
−$11
Net
−$116.63
Costs to cover
2.224%
Break-even
never at this rate
Slippage from Lighter: live order book, 5 min ago; Bybit: live order book, 33 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Lighter live order book, 5 min ago0.73 bp20.9 bp −$21488.4 bp −$4,884doesn't fitdoesn't fit
Sell Bybit live order book, 33 min ago15.71 bp70.4 bp −$70533.1 bp −$5,331doesn't fitdoesn't fit

OPENAI on 22 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Coinbase International OPENAI-PERP-INTX−0.0104%1h1,622.5−5.033%$225K$159K5xas long as short
Lighter OPENAIlong0.0000%1h1,708.5long leg$1.4M$269K5x
Bybit OPENAIUSDTshort0.0000%8h1,664.4−2.578%$761K$204K25x
OKX OPENAI-USDT-SWAP0.0000%8h1,651−3.364%$5.1M$1.3M20xas long as short
Gate OPENAI_USDT0.0000%8h1,619.4−5.216%$52.4M$28.7M50xas long as short
Bitget OPENAIUSDT0.0000%8h1,624.5−4.915%$5.5M$5.1M20xas long as short
SunX OPENAI-USDT0.0000%8h1,623.5−4.974%—$2.4M10xas long as short
HTX OPENAI-USDT0.0000%8h1,623.4−4.978%$78K$216K20xas long as short
Phemex OPENAIUSDT0.0000%8h1,622.8−5.013%$1.6M$543K10xas long as short
QFEX OPENAI-USD0.0000%1h1,622.7−5.018%$1.2M$474K10xas long as short
Show all 22 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BloFin OPENAI-USDT+0.0029%8h1,622.9−5.011%$476K$276K20xas long as short
Lighter RH OPENAI+0.0032%1h1,675.3−1.941%$2.7M$6.2M5xas long as short
Deribit OPENAI_USDC-PERPETUAL+0.0047%1h1,624.8−4.896%—$35xas long as short
Extended OPENAI-USD+0.0048%1h1,622.3−5.044%$135K$722K10xas long as short
Aster OPENAIUSDT+0.0050%8h1,628.9−4.659%$212K$3K20xas long as short
Binance OPENAIUSDT+0.0050%8h1,622.9−5.010%$22.9M$17.8M20xas long as short
MEXC OPENAI_USDT+0.0050%8h1,622.8−5.016%$13.0M$3.2M50xas long as short
KuCoin OPENAIUSDTM+0.0050%8h1,624.3−4.927%$374K$71K20xas long as short
Variational Omni OPENAI+0.0050%8h1,624−4.946%$2.6M$754K—as long as short
GRVT OPENAI_USDT_Perp+0.0050%8h1,622.3−5.045%$2K$140K10xas long as short
Aevo OPENAI-PERP+0.0104%1h1,622.2−5.051%——10xas long as short
Entropy io:OAI+0.0144%1h1,667.1−2.422%$7.4M$2.1M6xas long as short