Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0042%/8h= +4.6% APRpaid last 24h +0.014%

Price spread now: Variational Omni against Lighter−5.009%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Lighter Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

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

Funding pays, the price is against you. Variational Omni is 5.009% cheaper against Lighter than usual: you would sell low and buy high (spread −5.009% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$501 on $10k: about 13 months of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter OPENAI	1,710.6	0.0008	pay 0.0001% / 1h	20m 56s	$1.4M	$276K	5x
Short	Variational Omni OPENAI	1,624.9	0.0050	get 0.0050% / 8h	7h 20m	$2.6M	$765K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −5.009%Rate

Funding earned: $8.82
Price spread: −5.009% → 0.000%: −$500.88
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$492.06
Costs to cover: 0.000%
Break-even: 397.5 days

Slippage unknown: Lighter: live order book, 5 min ago; Variational Omni: RFQ quote, 3 min ago. Net counts fees only.

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	0.50 bp	27.2 bp −$27	470.0 bp −$4,700	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 3 min ago	2.81 bp	doesn't fit	46.8 bp −$468	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	1,624.1	−5.059%	$1.2M	$636K	10x	as long as short
Bybit OPENAIUSDT	0.0000%	8h	1,660.2	−2.944%	$730K	$284K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,651.4	−3.460%	$5.1M	$1.3M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,622	−5.179%	$46.3M	$10.6M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,625	−5.001%	$5.4M	$3.8M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,624.7	−5.021%	—	$2.2M	10x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,624.6	−5.027%	$79K	$225K	20x	as long as short
Phemex OPENAIUSDT	0.0000%	8h	1,625	−5.001%	$1.6M	$498K	10x	as long as short
Lighter OPENAIlong	+0.0008%	1h	1,710.6	long leg	$1.4M	$276K	5x
Lighter RH OPENAI	+0.0032%	1h	1,678.3	−1.885%	$2.7M	$6.2M	5x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended OPENAI-USD	+0.0048%	1h	1,624.1	−5.058%	$142K	$808K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,627.5	−4.859%	$212K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,624.5	−5.035%	$22.9M	$16.3M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,623.6	−5.087%	$6.6M	$2.4M	50x	as long as short
KuCoin OPENAIUSDTM	+0.0050%	8h	1,624.7	−5.020%	$375K	$121K	20x	as long as short
Variational Omni OPENAIshort	+0.0050%	8h	1,624.9	−5.009%	$2.6M	$765K	—
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,621.5	−5.206%	$3K	$173K	10x	as long as short
BloFin OPENAI-USDT	+0.0060%	8h	1,624.6	−5.025%	$480K	$301K	20x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,624.1	−5.054%	—	—	10x	as long as short
Entropy io:OAI	+0.0167%	1h	1,667.9	−2.496%	$7.6M	$2.4M	6x	as long as short
Coinbase International OPENAI-PERP-INTX	+0.0344%	1h	1,629	−4.770%	$233K	$173K	5x	as long as short
Deribit OPENAI_USDC-PERPETUAL	+0.0523%	1h	1,624.6	−5.026%	$3K	$3K	5x	as long as short