Funding arb · Price arb /

OPENAI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h —

Price spread now: Deribit against MEXC+0.027%7-day average — · you sell dearer than you buy

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

Long on MEXC Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 20 hours (all we have)—no history yet

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

Together, before fees—needs both histories

The price spread pays, funding is against you. Deribit is 0.027% dearer against MEXC than usual: you sell high and buy low (spread +0.027% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 43 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC OPENAI_USDT	1,615.4	0.0050	pay 0.0050% / 8h	48m 06s	$6.6M	$5.0M	50x
Short	Deribit OPENAI_USDC-PERPETUAL	1,615.8	0	get 0.0000% / 1h	48m 06s	—	$3	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against MEXC. 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 MEXCbpFee DeribitbpOrdersPrice spread, now +0.027%Rate

Funding earned: −$10.5
Price spread: +0.027% → 0.000%: $2.66
Slippage, 4 orders: no order book: not counted
Fee MEXC: 0 bp × 2 orders: $0
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$14.84
Costs to cover: 0.070%
Break-even: never at this rate

Slippage unknown: MEXC: live order book, 5 min ago; Deribit: no order-book sample. 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 MEXC live order book, 5 min ago	7.89 bp	27.2 bp −$27	51.8 bp −$518	doesn't fit	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0005%	1h	1,615.7	+0.017%	$1.2M	$622K	10x	as long as short
Lighter OPENAI	0.0000%	1h	1,708.6	+5.768%	$1.4M	$268K	5x	as long as short
Bybit OPENAIUSDT	0.0000%	8h	1,657.3	+2.596%	$738K	$263K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,646.5	+1.926%	$5.1M	$1.3M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,614.5	−0.053%	$45.2M	$13.6M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,617.9	+0.153%	$5.4M	$4.6M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,617.6	+0.137%	—	$2.4M	10x	as long as short
Deribit OPENAI_USDC-PERPETUALshort	0.0000%	1h	1,615.8	+0.027%	—	$3	5x
HTX OPENAI-USDT	0.0000%	8h	1,616.4	+0.066%	$79K	$228K	20x	as long as short
Phemex OPENAIUSDT	0.0000%	8h	1,616.6	+0.078%	$1.6M	$511K	10x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH OPENAI	+0.0032%	1h	1,673.2	+3.577%	$2.6M	$6.0M	5x	as long as short
BloFin OPENAI-USDT	+0.0039%	8h	1,615.1	−0.018%	$474K	$301K	20x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,615.3	−0.007%	$143K	$749K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,618.3	+0.181%	$211K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,615.8	+0.026%	$22.8M	$17.8M	20x	as long as short
MEXC OPENAI_USDTlong	+0.0050%	8h	1,615.4	long leg	$6.6M	$5.0M	50x
KuCoin OPENAIUSDTM	+0.0050%	8h	1,619.9	+0.282%	$375K	$70K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,615	−0.026%	$2.6M	$758K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,617.1	+0.105%	$2K	$182K	10x	as long as short
Coinbase International OPENAI-PERP-INTX	+0.0072%	1h	1,620.1	+0.292%	$226K	$165K	5x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,615.8	+0.024%	—	—	10x	as long as short
Entropy io:OAI	+0.0155%	1h	1,667.9	+3.251%	$7.6M	$2.3M	6x	as long as short