Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.014%

Price spread now: Lighter against MEXC+5.625%7-day average — · you sell dearer than you buy

Net, funding: paid 7d − costs−$52as in the Funding arb table

Net, price: spread back to 7d avg − costs+$521as in the Price arb table

costs, in and out, $10k−$420.420% of the position

Long on MEXC Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.102%−$10 on $10k

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

Together, before fees—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories

The price spread pays, funding is against you. Lighter is 5.625% dearer against MEXC than usual: you sell high and buy low (spread +5.625% now, against zero (this spread has no 7-day history yet)): +$562 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 12 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC OPENAI_USDT	1,620.7	0.0050	pay 0.0050% / 8h	3h 40m	$13.0M	$3.2M	50x
Short	Lighter OPENAI	1,711.9	0	get 0.0000% / 1h	40m 30s	$1.4M	$265K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +5.625%Rate

Funding earned: −$10.5
Price spread: +5.625% → 0.000%: $562.47
Slippage, 4 orders: −$41.96
Fee MEXC: 0 bp × 2 orders: $0
Fee Lighter: 0 bp × 2 orders: $0
Net: $510
Costs to cover: 0.420%
Break-even: from the start

Slippage from MEXC: live order book, 3 min ago; Lighter: live order book, 6 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	0.43 bp	2.3 bp −$2	18.3 bp −$183	doesn't fit	doesn't fit
Sell Lighter live order book, 6 min ago	1.28 bp	19.6 bp −$20	95.1 bp −$951	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	−0.0001%	1h	1,620.6	−0.004%	$1.2M	$563K	10x	as long as short
Lighter OPENAIshort	0.0000%	1h	1,711.9	+5.625%	$1.4M	$265K	5x
Bybit OPENAIUSDT	0.0000%	8h	1,663.4	+2.632%	$755K	$206K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,649.8	+1.795%	$5.1M	$1.3M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,617.5	−0.197%	$52.3M	$25.3M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,622.6	+0.115%	$5.5M	$5.0M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,622.9	+0.135%	—	$2.4M	10x	as long as short
Deribit OPENAI_USDC-PERPETUAL	0.0000%	1h	1,620.8	+0.002%	—	$3	5x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,621.6	+0.054%	$79K	$221K	20x	as long as short
Phemex OPENAIUSDT	0.0000%	8h	1,620.9	+0.010%	$1.6M	$541K	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	+3.598%	$2.7M	$6.2M	5x	as long as short
BloFin OPENAI-USDT	+0.0038%	8h	1,621.3	+0.035%	$473K	$286K	20x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,620.2	−0.031%	$141K	$737K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,627.7	+0.433%	$212K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,620.6	−0.005%	$22.9M	$17.7M	20x	as long as short
MEXC OPENAI_USDTlong	+0.0050%	8h	1,620.7	long leg	$13.0M	$3.2M	50x
KuCoin OPENAIUSDTM	+0.0050%	8h	1,625.3	+0.285%	$375K	$68K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,620.2	−0.033%	$2.6M	$766K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,620.7	−0.002%	$2K	$156K	10x	as long as short
Coinbase International OPENAI-PERP-INTX	+0.0056%	1h	1,622	+0.081%	$226K	$162K	5x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,620.7	−0.002%	—	—	10x	as long as short
Entropy io:OAI	+0.0128%	1h	1,672.9	+3.220%	$7.7M	$2.3M	6x	as long as short