Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0002%/8h= −0.2% APRpaid last 24h −0.001%

Price spread now: Extended against MEXC−0.006%7-day average −0.035% · you buy dearer than you sell

Net, funding: paid 7d − costs−$83as in the Funding arb table

Net, price: spread back to 7d avg − costs−$80as in the Price arb table

costs, in and out, $10k−$830.825% of the position

Long on MEXC Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.004%$0 on $10k

Price spread, last 4 days (all we have)−0.050%−$5 · spread now −0.006%, 7d avg −0.035%

Together, before fees−0.054%+ Points / potential airdropExtended: Active · farm board−$5 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Extended is 0.029% dearer against MEXC than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.035%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC OPENAI_USDT	1,617.9	0.0050	pay 0.0050% / 8h	1h 39m	$13.0M	$3.2M	50x
Short	Extended OPENAI-USD	1,617.8	0.0048	get 0.0006% / 1h	39m 44s	$144K	$758K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.006%Rate

Funding earned: −$0.42
Price spread: −0.006% → −0.035%: $2.94
Slippage, 4 orders: −$77.5
Fee MEXC: 0 bp × 2 orders: $0
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$79.98
Costs to cover: 0.825%
Break-even: never at this rate

Slippage from MEXC: live order book, 3 min ago; Extended: 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 MEXC live order book, 3 min ago	1.05 bp	1.9 bp −$2	10.1 bp −$101	1132.9 bp −$113.3K	doesn't fit
Sell Extended live order book, 3 min ago	3.71 bp	38.9 bp −$39	285.6 bp −$2,856	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
QFEX OPENAI-USD	−0.0002%	1h	1,617.2	−0.040%	$1.2M	$607K	10x	as long as short
Lighter OPENAI	0.0000%	1h	1,712.4	+5.842%	$1.4M	$264K	5x	as long as short
Bybit OPENAIUSDT	0.0000%	8h	1,660.1	+2.614%	$753K	$205K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,648.6	+1.901%	$5.1M	$1.3M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,614.4	−0.214%	$52.3M	$18.1M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,618.6	+0.048%	$5.4M	$4.6M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,618.8	+0.059%	—	$2.4M	10x	as long as short
Deribit OPENAI_USDC-PERPETUAL	0.0000%	1h	1,618.1	+0.016%	—	$3	5x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,617.7	−0.009%	$79K	$226K	20x	as long as short
Phemex OPENAIUSDT	0.0000%	8h	1,617.2	−0.038%	$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	1,679.6	+3.814%	$2.7M	$6.0M	5x	as long as short
Coinbase International OPENAI-PERP-INTX	+0.0040%	1h	1,625	+0.444%	$226K	$162K	5x	as long as short
Extended OPENAI-USDshort	+0.0048%	1h	1,617.8	−0.006%	$144K	$758K	10x
Aster OPENAIUSDT	+0.0050%	8h	1,621.8	+0.243%	$211K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,618.1	+0.016%	$22.8M	$16.9M	20x	as long as short
MEXC OPENAI_USDTlong	+0.0050%	8h	1,617.9	long leg	$13.0M	$3.2M	50x
KuCoin OPENAIUSDTM	+0.0050%	8h	1,620.3	+0.150%	$372K	$69K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,617.7	−0.008%	$2.6M	$757K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,618.4	+0.036%	$2K	$176K	10x	as long as short
BloFin OPENAI-USDT	+0.0057%	8h	1,615.5	−0.147%	$474K	$288K	20x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,617.1	−0.046%	—	—	10x	as long as short
Entropy io:OAI	+0.0131%	1h	1,669.6	+3.199%	$7.7M	$2.3M	6x	as long as short