Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0018%/8h= +2.0% APRpaid last 24h +0.005%

Price spread now: KuCoin against Lighter RH−3.328%7-day average −4.653% · you buy dearer than you sell

Net, funding: paid 7d − costs−$4,421as in the Funding arb table

Net, price: spread back to 7d avg − costs−$4,293as in the Price arb table

costs, in and out, $10k−$4,42544.250% of the position

Long on Lighter RH Short on KuCoin

What this pair did over the last

the charts below follow

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

Price spread, last 4 days (all we have)−2.264%−$226 · spread now −3.328%, 7d avg −4.653%

Together, before fees−2.227%+ Points / potential airdropLighter RH: Points live · farm board−$223 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 KuCoin is 1.324% dearer against Lighter RH than usual: you sell high and buy low: +$132 more if the spread goes back to its 7-day average of −4.653%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH OPENAI	1,681	0.0032	pay 0.0004% / 1h	34m 11s	$2.7M	$6.2M	5x
Short	KuCoin OPENAIUSDTM	1,625	0.0050	get 0.0050% / 8h	4h 34m	$375K	$70K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −3.328%Rate

Funding earned: $3.78
Price spread: −3.328% → −4.653%: $132.41
Slippage, 4 orders: −$4,413
Fee Lighter RH: 0 bp × 2 orders: $0
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$4,288.81
Costs to cover: 44.250%
Break-even: 7949.2 days

Slippage from Lighter RH: live order book, 4 min ago; KuCoin: live order book, 48 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, 4 min ago	2.23 bp	6.7 bp −$7	65.3 bp −$653	doesn't fit	doesn't fit
Sell KuCoin live order book, 48 min ago	7.87 bp	3687.9 bp −$3,688	doesn't fit	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
Coinbase International OPENAI-PERP-INTX	−0.0024%	1h	1,625.7	−3.285%	$226K	$160K	5x	as long as short
QFEX OPENAI-USD	−0.0004%	1h	1,624.8	−3.339%	$1.2M	$539K	10x	as long as short
Bybit OPENAIUSDT	0.0000%	8h	1,662.1	−1.121%	$755K	$207K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,652.2	−1.711%	$5.1M	$1.3M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,621.4	−3.542%	$52.4M	$28.1M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,625.7	−3.289%	$5.5M	$5.0M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,624.8	−3.341%	—	$2.4M	10x	as long as short
Deribit OPENAI_USDC-PERPETUAL	0.0000%	1h	1,623.4	−3.427%	—	$3	5x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,625.5	−3.302%	$79K	$219K	20x	as long as short
Phemex OPENAIUSDT	0.0000%	8h	1,624.4	−3.368%	$1.6M	$546K	10x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter OPENAI	+0.0008%	1h	1,714	+1.964%	$1.4M	$266K	5x	as long as short
Lighter RH OPENAIlong	+0.0032%	1h	1,681	long leg	$2.7M	$6.2M	5x
Extended OPENAI-USD	+0.0048%	1h	1,624.5	−3.361%	$144K	$736K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,630.3	−3.011%	$212K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,624.8	−3.339%	$22.9M	$17.9M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,624.9	−3.336%	$13.0M	$3.2M	50x	as long as short
KuCoin OPENAIUSDTMshort	+0.0050%	8h	1,625	−3.328%	$375K	$70K	20x
Variational Omni OPENAI	+0.0050%	8h	1,624.4	−3.366%	$2.6M	$766K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,624.5	−3.356%	$2K	$148K	10x	as long as short
BloFin OPENAI-USDT	+0.0080%	8h	1,625.6	−3.291%	$474K	$283K	20x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,624.3	−3.368%	—	—	10x	as long as short
Entropy io:OAI	+0.0252%	1h	1,672.5	−0.503%	$7.6M	$2.3M	6x	as long as short