Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bitget against Phemex+0.120%7-day average −0.013% · you sell dearer than you buy

Net, funding: paid 7d − costs−$180as in the Funding arb table

Net, price: spread back to 7d avg − costs−$166as in the Price arb table

costs, in and out, $10k−$1801.795% of the position

Long on Phemex Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 3 days (all we have)−0.211%−$21 · spread now +0.120%, 7d avg −0.013%

Together, before fees−0.211%−$21 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: Bitget is 0.133% dearer against Phemex than usual: you sell high and buy low, +$13 on $10k if it goes back to its 7-day average of −0.013%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex OPENAIUSDT	1,622.4	0	get 0.0000% / 8h	6h 18m	$1.6M	$557K	10x
Short	Bitget OPENAIUSDT	1,624.3	0	get 0.0000% / 8h	6h 18m	$5.5M	$5.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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

Position, each leg$Hold fordaysFee PhemexbpFee BitgetbpOrdersPrice spread, now +0.120%Rate

Funding earned: $0
Price spread: +0.120% → −0.013%: $13.31
Slippage, 4 orders: −$155.51
Fee Phemex: 6 bp × 2 orders: −$12
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$166.21
Costs to cover: 1.795%
Break-even: never at this rate

Slippage from Phemex: live order book, 5 min ago; Bitget: live order book, 5 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 Phemex live order book, 5 min ago	4.22 bp	68.9 bp −$69	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 5 min ago	2.22 bp	16.6 bp −$17	52.9 bp −$529	doesn't fit	doesn't fit

OPENAI on 21 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	−0.0004%	1h	1,621.4	−0.057%	$1.2M	$422K	10x	as long as short
Lighter OPENAI	0.0000%	1h	1,700.7	+4.830%	$1.4M	$280K	5x	as long as short
Bybit OPENAIUSDT	0.0000%	8h	1,666.2	+2.704%	$764K	$205K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,654.6	+1.988%	$5.1M	$1.3M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,619.4	−0.185%	$52.4M	$31.9M	50x	as long as short
Bitget OPENAIUSDTshort	0.0000%	8h	1,624.3	+0.120%	$5.5M	$5.1M	20x
SunX OPENAI-USDT	0.0000%	8h	1,624	+0.102%	—	$2.5M	10x	as long as short
Deribit OPENAI_USDC-PERPETUAL	0.0000%	1h	1,622.5	+0.010%	—	$3	5x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,621.9	−0.030%	$79K	$216K	20x	as long as short
Phemex OPENAIUSDTlong	0.0000%	8h	1,622.4	long leg	$1.6M	$557K	10x

Show all 21 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	+0.102%	$222K	$158K	5x	as long as short
Lighter RH OPENAI	+0.0032%	1h	1,674.8	+3.231%	$2.6M	$6.2M	5x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,621.1	−0.078%	$131K	$722K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,627.6	+0.321%	$212K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,621.5	−0.051%	$22.9M	$18.6M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,622.6	+0.015%	$13.1M	$3.2M	50x	as long as short
KuCoin OPENAIUSDTM	+0.0050%	8h	1,624.5	+0.133%	$376K	$67K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,621.1	−0.080%	$2.6M	$759K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,623	+0.039%	$2K	$138K	10x	as long as short
Entropy io:OAI	+0.0093%	1h	1,667.9	+2.808%	$7.4M	$2.2M	6x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,621.3	−0.064%	—	—	10x	as long as short