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Funding arb · Price arb /

OPENAI

RWAall OPENAI markets
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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 08:00 UTC+0.0050%/8h= +5.5% APRnext payment +$0.50 per $10,000 · paid last 24h +0.015%
Price spread now: Binance against Phemex+0.031%7-day average +0.009% · you sell dearer than you buy
Net, funding: paid 7d − costs−$135as in the Funding arb table
Net, price: spread back to 7d avg − costs−$143as in the Price arb table
costs, in and out, $10k−$1451.452% of the position
Long on PhemexShort on Binance
What this pair did over the last
the charts below follow
Funding, last 7 days+0.105%+$11 on $10k
Price spread, last 2 days (all we have)−0.018%−$2 · spread now +0.031%, 7d avg +0.009%
Together, before fees+0.087%+$9 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Binance is 0.022% dearer against Phemex than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of +0.009%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPhemex OPENAIUSDT1,6280get 0.0000% / 8h7h 24m$1.6M$561K10x
ShortBinance OPENAIUSDT1,628.50.0050get 0.0050% / 8h7h 24m$23.1M$18.9M20x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Binance against Phemex. 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

Funding earned
$10.5
Price spread: +0.031% → +0.009%
$2.19
Slippage, 4 orders
−$123.24
Fee Phemex: 6 bp × 2 orders
−$12
Fee Binance: 5 bp × 2 orders
−$10
Net
−$132.55
Costs to cover
1.452%
Break-even
95.4 days
Slippage from Phemex: live order book, 3 min ago; Binance: live order book, 1 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Phemex live order book, 3 min ago4.08 bp51.6 bp −$52doesn't fitdoesn't fitdoesn't fit
Sell Binance live order book, 1 min ago1.17 bp14.1 bp −$1439.3 bp −$393doesn't fitdoesn't fit

OPENAI on 22 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Coinbase International OPENAI-PERP-INTX−0.0024%1h1,628.2+0.011%$228K$147K5xas long as short
QFEX OPENAI-USD0.0000%1h1,629.1+0.064%$1.2M$417K10xas long as short
Lighter OPENAI0.0000%1h1,711.4+5.118%$1.4M$283K5xas long as short
Bybit OPENAIUSDT0.0000%8h1,671.3+2.659%$769K$207K25xas long as short
OKX OPENAI-USDT-SWAP0.0000%8h1,659.6+1.939%$5.1M$1.3M20xas long as short
Gate OPENAI_USDT0.0000%8h1,625.2−0.173%$52.6M$39.2M50xas long as short
Bitget OPENAIUSDT0.0000%8h1,629.1+0.065%$5.5M$5.1M20xas long as short
SunX OPENAI-USDT0.0000%8h1,629.2+0.071%—$2.6M10xas long as short
Deribit OPENAI_USDC-PERPETUAL0.0000%1h1,628.3+0.017%—$35xas long as short
HTX OPENAI-USDT0.0000%8h1,628.6+0.036%$79K$214K20xas long as short
Show all 22 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Phemex OPENAIUSDTlong0.0000%8h1,628long leg$1.6M$561K10x
Lighter RH OPENAI+0.0032%1h1,683.5+3.403%$2.7M$6.3M5xas long as short
Extended OPENAI-USD+0.0048%1h1,628.3+0.019%$133K$853K10xas long as short
Aster OPENAIUSDT+0.0050%8h1,634.5+0.394%$213K$3K20xas long as short
Binance OPENAIUSDTshort+0.0050%8h1,628.5+0.031%$23.1M$18.9M20x
MEXC OPENAI_USDT+0.0050%8h1,628.4+0.025%$13.1M$3.2M50xas long as short
KuCoin OPENAIUSDTM+0.0050%8h1,637.1+0.556%$379K$65K20xas long as short
Variational Omni OPENAI+0.0050%8h1,630.1+0.124%$2.6M$757K—as long as short
GRVT OPENAI_USDT_Perp+0.0050%8h1,628.2+0.012%$2K$138K10xas long as short
BloFin OPENAI-USDT+0.0062%8h1,628.4+0.024%$474K$279K20xas long as short
Aevo OPENAI-PERP+0.0104%1h1,628.6+0.032%——10xas long as short
Entropy io:OAI+0.0119%1h1,675.4+2.909%$7.4M$2.2M6xas long as short