Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.014%

Price spread now: MEXC against Lighter−5.056%7-day average −7.032% · you buy dearer than you sell

Net, funding: paid 7d − costs−$194as in the Funding arb table

Net, price: spread back to 7d avg − costs−$6as in the Price arb table

costs, in and out, $10k−$2042.037% of the position

Long on Lighter Short on MEXC

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−2.190%−$219 · spread now −5.056%, 7d avg −7.032%

Together, before fees−2.087%+ Points / potential airdropLighter: Season 3 · farm board−$209 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 MEXC is 1.976% dearer against Lighter than usual: you sell high and buy low: +$198 more if the spread goes back to its 7-day average of −7.032%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter OPENAI	1,713.2	0	get 0.0000% / 1h	56m 03s	$1.4M	$280K	5x
Short	MEXC OPENAI_USDT	1,626.6	0.0050	get 0.0050% / 8h	6h 56m	$13.1M	$3.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −5.056%Rate

Funding earned: $10.5
Price spread: −5.056% → −7.032%: $197.57
Slippage, 4 orders: −$203.75
Fee Lighter: 0 bp × 2 orders: $0
Fee MEXC: 0 bp × 2 orders: $0
Net: $4.33
Costs to cover: 2.037%
Break-even: 4.1 days

Slippage from Lighter: live order book, 5 min ago; MEXC: live order book, 7 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, 5 min ago	1.55 bp	124.6 bp −$125	910.7 bp −$9,107	doesn't fit	doesn't fit
Sell MEXC live order book, 7 min ago	1.14 bp	1.8 bp −$2	2.6 bp −$26	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	−0.0004%	1h	1,626.8	−5.042%	$1.2M	$422K	10x	as long as short
Lighter OPENAIlong	0.0000%	1h	1,713.2	long leg	$1.4M	$280K	5x
Bybit OPENAIUSDT	0.0000%	8h	1,669.5	−2.552%	$767K	$205K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,656	−3.339%	$5.1M	$1.3M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,623	−5.263%	$52.5M	$31.7M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,628.3	−4.954%	$5.5M	$5.1M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,628.5	−4.944%	—	$2.5M	10x	as long as short
Deribit OPENAI_USDC-PERPETUAL	0.0000%	1h	1,627	−5.029%	—	$3	5x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,628.1	−4.970%	$79K	$215K	20x	as long as short
Phemex OPENAIUSDT	0.0000%	8h	1,626	−5.089%	$1.6M	$562K	10x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International OPENAI-PERP-INTX	+0.0024%	1h	1,627.2	−5.018%	$223K	$154K	5x	as long as short
Lighter RH OPENAI	+0.0032%	1h	1,680.4	−1.915%	$2.7M	$6.1M	5x	as long as short
BloFin OPENAI-USDT	+0.0037%	8h	1,628	−4.973%	$474K	$279K	20x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,626.8	−5.044%	$132K	$716K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,634.8	−4.577%	$213K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,627.1	−5.025%	$23.1M	$19.0M	20x	as long as short
MEXC OPENAI_USDTshort	+0.0050%	8h	1,626.6	−5.056%	$13.1M	$3.2M	50x
KuCoin OPENAIUSDTM	+0.0050%	8h	1,631.6	−4.763%	$377K	$67K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,626.2	−5.079%	$2.6M	$757K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,628.8	−4.924%	$2K	$138K	10x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,626.9	−5.035%	—	—	10x	as long as short
Entropy io:OAI	+0.0184%	1h	1,673.7	−2.306%	$7.4M	$2.2M	6x	as long as short