Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0018%/8h= +2.0% APRpaid last 24h +0.005%

Price spread now: Binance against Lighter RH−3.184%7-day average −4.310% · you buy dearer than you sell

Net, funding: paid 7d − costs−$39as in the Funding arb table

Net, price: spread back to 7d avg − costs+$69as in the Price arb table

costs, in and out, $10k−$430.432% of the position

Long on Lighter RH Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.038%+$4 on $10k

Price spread, last 2 days (all we have)−1.064%−$106 · spread now −3.184%, 7d avg −4.310%

Together, before fees−1.026%+ Points / potential airdropLighter RH: Points live · farm board−$103 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Binance is 1.126% dearer against Lighter RH than usual: you sell high and buy low: +$113 more if the spread goes back to its 7-day average of −4.310%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH OPENAI	1,681.3	0.0032	pay 0.0004% / 1h	47m 45s	$2.7M	$6.2M	5x
Short	Binance OPENAIUSDT	1,627.8	0.0050	get 0.0050% / 8h	7h 47m	$23.1M	$18.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Lighter RH. 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 Lighter RHbpFee BinancebpOrdersPrice spread, now −3.184%Rate

Funding earned: $3.78
Price spread: −3.184% → −4.310%: $112.62
Slippage, 4 orders: −$33.16
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Binance: 5 bp × 2 orders: −$10
Net: $73.24
Costs to cover: 0.432%
Break-even: from the start

Slippage from Lighter RH: live order book, 6 min ago; Binance: live order book, 8 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 RH live order book, 6 min ago	2.59 bp	7.1 bp −$7	49.9 bp −$499	doesn't fit	doesn't fit
Sell Binance live order book, 8 min ago	0.58 bp	15.4 bp −$15	56.8 bp −$568	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
Deribit OPENAI_USDC-PERPETUAL	−0.0148%	1h	1,627.5	−3.201%	—	$3	5x	as long as short
Coinbase International OPENAI-PERP-INTX	−0.0024%	1h	1,627.8	−3.183%	$230K	$152K	5x	as long as short
QFEX OPENAI-USD	0.0000%	1h	1,627.7	−3.192%	$1.2M	$386K	10x	as long as short
Lighter OPENAI	0.0000%	1h	1,709.4	+1.667%	$1.4M	$282K	5x	as long as short
Bybit OPENAIUSDT	0.0000%	8h	1,671.8	−0.568%	$770K	$209K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,660.3	−1.251%	$5.1M	$1.4M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,624.4	−3.388%	$52.6M	$39.2M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,627.7	−3.190%	$5.5M	$5.1M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,628.1	−3.166%	—	$2.6M	10x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,627.9	−3.179%	$79K	$214K	20x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex OPENAIUSDT	0.0000%	8h	1,627.1	−3.226%	$1.6M	$560K	10x	as long as short
Lighter RH OPENAIlong	+0.0032%	1h	1,681.3	long leg	$2.7M	$6.2M	5x
BloFin OPENAI-USDT	+0.0036%	8h	1,628.2	−3.162%	$473K	$278K	20x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,627.5	−3.203%	$132K	$729K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,634.3	−2.795%	$213K	$3K	20x	as long as short
Binance OPENAIUSDTshort	+0.0050%	8h	1,627.8	−3.184%	$23.1M	$18.9M	20x
MEXC OPENAI_USDT	+0.0050%	8h	1,627.7	−3.192%	$13.1M	$3.2M	50x	as long as short
KuCoin OPENAIUSDTM	+0.0050%	8h	1,637.1	−2.631%	$379K	$65K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,626.8	−3.243%	$2.6M	$752K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,631.6	−2.958%	$2K	$139K	10x	as long as short
Entropy io:OAI	+0.0076%	1h	1,675.6	−0.341%	$7.4M	$2.2M	6x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,627.6	−3.194%	—	—	10x	as long as short