Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.010%

Price spread now: OKX against Lighter RH−1.388%7-day average −3.802% · you buy dearer than you sell

Net, funding: paid 7d − costs−$105as in the Funding arb table

Net, price: spread back to 7d avg − costs+$143as in the Price arb table

costs, in and out, $10k−$980.981% of the position

Long on Lighter RH Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.067%−$7 on $10k

Price spread, last 7 days−3.436%−$344 · spread now −1.388%, 7d avg −3.802%

Together, before fees−3.503%+ Points / potential airdropLighter RH: Points live · farm board−$350 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 2.414% dearer against Lighter RH than usual: you sell high and buy low (spread −1.388% now, against its 7-day average of −3.802%): +$241 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 8 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH OPENAI	1,674.9	0.0032	pay 0.0004% / 1h	49m 46s	$2.7M	$6.1M	5x
Short	OKX OPENAI-USDT-SWAP	1,651.7	0	get 0.0000% / 8h	5h 49m	$5.1M	$1.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −1.388%Rate

Funding earned: −$6.72
Price spread: −1.388% → −3.802%: $241.43
Slippage, 4 orders: −$88.14
Fee Lighter RH: 0 bp × 2 orders: $0
Fee OKX: 5 bp × 2 orders: −$10
Net: $136.57
Costs to cover: 0.981%
Break-even: from the start

Slippage from Lighter RH: live order book, 4 min ago; OKX: live order book, 3 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	2.03 bp	2.9 bp −$3	44.2 bp −$442	doesn't fit	doesn't fit
Sell OKX live order book, 3 min ago	3.33 bp	47.8 bp −$48	doesn't fit	doesn't fit	doesn't fit

OPENAI on 21 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	−0.0104%	1h	1,623.3	−3.085%	$224K	$158K	5x	as long as short
Lighter OPENAI	0.0000%	1h	1,707.5	+1.941%	$1.4M	$268K	5x	as long as short
Bybit OPENAIUSDT	0.0000%	8h	1,662.2	−0.761%	$762K	$203K	25x	as long as short
OKX OPENAI-USDT-SWAPshort	0.0000%	8h	1,651.7	−1.388%	$5.1M	$1.3M	20x
Gate OPENAI_USDT	0.0000%	8h	1,619.3	−3.321%	$52.4M	$28.7M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,623.4	−3.077%	$5.5M	$5.1M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,623.4	−3.077%	—	$2.4M	10x	as long as short
Deribit OPENAI_USDC-PERPETUAL	0.0000%	1h	1,622.2	−3.146%	—	$3	5x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,623.9	−3.050%	$79K	$216K	20x	as long as short
Phemex OPENAIUSDT	0.0000%	8h	1,621.8	−3.172%	$1.6M	$545K	10x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX OPENAI-USD	0.0000%	1h	1,623.1	−3.094%	$1.2M	$443K	10x	as long as short
Lighter RH OPENAIlong	+0.0032%	1h	1,674.9	long leg	$2.7M	$6.1M	5x
Extended OPENAI-USD	+0.0048%	1h	1,622.6	−3.127%	$131K	$720K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,628.3	−2.785%	$212K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,622.9	−3.107%	$22.9M	$17.8M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,622.3	−3.144%	$13.0M	$3.2M	50x	as long as short
KuCoin OPENAIUSDTM	+0.0050%	8h	1,621.9	−3.166%	$373K	$71K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,622.7	−3.120%	$2.6M	$752K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,622.2	−3.147%	$2K	$137K	10x	as long as short
Entropy io:OAI	+0.0097%	1h	1,667.5	−0.444%	$7.4M	$2.1M	6x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,622.6	−3.124%	—	—	10x	as long as short