OPENAI

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0056%/8h= +6.1% APRnext payment +$0.07 per $10,000 · paid last 24h +0.240%

Price spread now: Coinbase International against Lighter−5.249%7-day average −5.943% · you buy dearer than you sell

Net, funding: paid 7d − costs−$6as in the Funding arb table

Net, price: spread back to 7d avg − costs−$18as in the Price arb table

costs, in and out, $10k−$870.870% of the position

Long on Lighter Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.809%+$81 on $10k

Price spread, last 4 days (all we have)−1.616%−$162 · spread now −5.249%, 7d avg −5.943%

Together, before fees−0.807%+ Points / potential airdropLighter: Season 3 · farm board−$81 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Coinbase International is 0.693% dearer against Lighter than usual: you sell high and buy low: +$69 more if the spread goes back to its 7-day average of −5.943%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter OPENAI	1,711.9	0	get 0.0000% / 1h	43m 02s	$1.4M	$265K	5x
Short	Coinbase International OPENAI-PERP-INTX	1,622	0.0056	get 0.0007% / 1h	43m 02s	$226K	$162K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −5.249%Rate

Funding earned: $11.76
Price spread: −5.249% → −5.943%: $69.34
Slippage, 4 orders: −$77.02
Fee Lighter: 0 bp × 2 orders: $0
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$5.93
Costs to cover: 0.870%
Break-even: 10.5 days

Slippage from Lighter: live order book, 3 min ago; Coinbase International: live order book, 10 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, 3 min ago	1.28 bp	17.6 bp −$18	457.8 bp −$4,578	doesn't fit	doesn't fit
Sell Coinbase International live order book, 10 min ago	5.73 bp	19.0 bp −$19	40.7 bp −$407	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	1,620.7	−5.329%	$1.2M	$562K	10x	as long as short
Lighter OPENAIlong	0.0000%	1h	1,711.9	long leg	$1.4M	$265K	5x
Bybit OPENAIUSDT	0.0000%	8h	1,663.5	−2.829%	$755K	$207K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,650.5	−3.586%	$5.1M	$1.3M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,617.6	−5.507%	$52.3M	$25.3M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,622.9	−5.200%	$5.5M	$5.0M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,622.6	−5.215%	—	$2.4M	10x	as long as short
Deribit OPENAI_USDC-PERPETUAL	0.0000%	1h	1,621.3	−5.291%	—	$3	5x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,621.6	−5.274%	$79K	$221K	20x	as long as short
Phemex OPENAIUSDT	0.0000%	8h	1,620.9	−5.314%	$1.6M	$542K	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	1,679	−1.920%	$2.7M	$6.2M	5x	as long as short
BloFin OPENAI-USDT	+0.0047%	8h	1,621	−5.310%	$473K	$286K	20x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,620.4	−5.345%	$141K	$737K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,628.2	−4.889%	$212K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,620.8	−5.320%	$22.9M	$17.7M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,621.1	−5.306%	$13.0M	$3.2M	50x	as long as short
KuCoin OPENAIUSDTM	+0.0050%	8h	1,625.3	−5.056%	$375K	$68K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,620.9	−5.314%	$2.6M	$766K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,620.7	−5.327%	$2K	$156K	10x	as long as short
Coinbase International OPENAI-PERP-INTXshort	+0.0056%	1h	1,622	−5.249%	$226K	$162K	5x
Aevo OPENAI-PERP	+0.0104%	1h	1,620.5	−5.337%	—	—	10x	as long as short
Entropy io:OAI	+0.0135%	1h	1,673.2	−2.260%	$7.7M	$2.3M	6x	as long as short