Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0033%/8h= +3.6% APRpaid last 24h +0.055%

Price spread now: Entropy against MEXC+2.934%49s7-day average +5.306% · you sell dearer than you buy

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

Long on MEXC Short on Entropy

What this pair did over the last

the charts below follow

Funding, last 7 days+0.502%+$50 on $10k

Price spread, last 7 days+3.511%+$351 · spread now +2.934%, 7d avg +5.306%

Together, before fees+4.013%+$401 on $10k · with fees, hour by hour

Funding pays, the price is against you. Entropy is 2.372% cheaper against MEXC than usual: you would sell low and buy high (spread +2.934% now, against its 7-day average of +5.306%). If the spread goes back, that is −$237 on $10k: about 8 months of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.502% in total) that is about 33 days. The two prices were read 49 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC OPENAI_USDT	1,622.3	0.0050	pay 0.0050% / 8h	6h 35m	$13.0M	$3.2M	50x
Short	Entropy io:OAI	1,669.9	0.0083	get 0.0010% / 1h	35m 53s	$7.4M	$2.2M	6x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Entropy against MEXC. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 EntropybpOrdersPrice spread, now +2.934%Rate

Funding earned: $6.94
Price spread: +2.934% → +5.306%: −$237.16
Slippage, 4 orders: no order book: not counted
Fee MEXC: 0 bp × 2 orders: $0
Fee Entropy: 9 bp × 2 orders: −$18
Net: −$248.21
Costs to cover: 0.180%
Break-even: 257.2 days

Slippage unknown: MEXC: live order book, 2 min ago; Entropy: live order book, 9 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 MEXC live order book, 2 min ago	0.95 bp	1.5 bp −$2	5.9 bp −$59	doesn't fit	doesn't fit
Sell Entropy live order book, 9 min ago	3.59 bp	31.0 bp −$31	40.3 bp −$403	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	−0.0115%	1h	1,621.9	−0.025%	—	$3	5x	as long as short
QFEX OPENAI-USD	−0.0004%	1h	1,622.3	+0.002%	$1.2M	$411K	10x	as long as short
Lighter OPENAI	0.0000%	1h	1,708.3	+5.304%	$1.4M	$280K	5x	as long as short
Bybit OPENAIUSDT	0.0000%	8h	1,666.1	+2.701%	$764K	$204K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,650.2	+1.720%	$5.1M	$1.3M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,619.4	−0.180%	$52.4M	$31.8M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,623.7	+0.086%	$5.5M	$5.1M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,623	+0.043%	—	$2.5M	10x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,622.2	−0.009%	$79K	$216K	20x	as long as short
Phemex OPENAIUSDT	0.0000%	8h	1,622.3	−0.002%	$1.6M	$562K	10x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International OPENAI-PERP-INTX	+0.0024%	1h	1,624.5	+0.133%	$222K	$155K	5x	as long as short
Lighter RH OPENAI	+0.0032%	1h	1,675.8	+3.300%	$2.6M	$6.2M	5x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,622	−0.017%	$136K	$717K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,627.5	+0.319%	$212K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,622.3	0.000%	$22.9M	$18.9M	20x	as long as short
MEXC OPENAI_USDTlong	+0.0050%	8h	1,622.3	long leg	$13.0M	$3.2M	50x
KuCoin OPENAIUSDTM	+0.0050%	8h	1,626.2	+0.238%	$377K	$68K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,622	−0.016%	$2.6M	$759K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,624	+0.103%	$2K	$137K	10x	as long as short
BloFin OPENAI-USDT	+0.0059%	8h	1,629.3	+0.429%	$477K	$280K	20x	as long as short
Entropy io:OAIshort	+0.0083%	1h	1,669.9	+2.934%	$7.4M	$2.2M	6x
Aevo OPENAI-PERP	+0.0104%	1h	1,621.6	−0.041%	—	—	10x	as long as short