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Funding arb · Price arb /

OPENAI

RWAall OPENAI markets
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Alert: funding
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Alert: spread
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Funding you earn now, next payment 07:00 UTC+0.0141%/8h= +15.5% APRnext payment +$0.18 per $10,000 · paid last 24h +0.064%
Price spread now: Entropy against QFEX+3.193%7-day average +5.253% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on QFEXShort on Entropy
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)+0.268%+$27 on $10k
Price spread, last 7 days+3.153%+$315 · spread now +3.193%, 7d avg +5.253%
Together, before fees+3.421%+$342 on $10k · with fees, hour by hour
Funding pays, the price is against you. Entropy is 2.060% cheaper against QFEX than usual: you would sell low and buy high (spread +3.193% now, against its 7-day average of +5.253%). If the spread goes back, that is −$206 on $10k: about 49 days of funding at the current rate (+$4 a day).
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongQFEX OPENAI-USD1,618.5−0.0002get 0.0000% / 1h52m 20s$1.2M$611K10x
ShortEntropy io:OAI1,670.20.0139get 0.0017% / 1h52m 20s$7.7M$2.3M6x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Entropy against QFEX. 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
$29.67
Price spread: +3.193% → +5.253%
−$206.01
Slippage, 4 orders
no order book: not counted
Fee QFEX: 5 bp × 2 orders
−$10
Fee Entropy: 9 bp × 2 orders
−$18
Net
−$204.34
Costs to cover
0.280%
Break-even
55.2 days
Slippage unknown: QFEX: live order book, 4 min ago; Entropy: live order book, 3 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy QFEX live order book, 4 min ago2.04 bp8.1 bp −$815.1 bp −$151doesn't fitdoesn't fit
Sell Entropy live order book, 3 min ago4.19 bpdoesn't fitdoesn't fitdoesn'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
QFEX OPENAI-USDlong−0.0002%1h1,618.5long leg$1.2M$611K10x
Lighter OPENAI0.0000%1h1,712.5+5.808%$1.4M$264K5xas long as short
Bybit OPENAIUSDT0.0000%8h1,659.5+2.532%$753K$205K25xas long as short
OKX OPENAI-USDT-SWAP0.0000%8h1,646.3+1.716%$5.1M$1.3M20xas long as short
Gate OPENAI_USDT0.0000%8h1,614.9−0.221%$52.3M$18.0M50xas long as short
Bitget OPENAIUSDT0.0000%8h1,619.1+0.038%$5.4M$4.7M20xas long as short
SunX OPENAI-USDT0.0000%8h1,619.2+0.042%—$2.4M10xas long as short
Deribit OPENAI_USDC-PERPETUAL0.0000%1h1,618.7+0.009%—$35xas long as short
HTX OPENAI-USDT0.0000%8h1,618.7+0.010%$79K$226K20xas long as short
Phemex OPENAIUSDT0.0000%8h1,618.3−0.014%$1.6M$515K10xas long as short
Show all 22 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Lighter RH OPENAI+0.0032%1h1,679.4+3.760%$2.7M$6.0M5xas long as short
BloFin OPENAI-USDT+0.0036%8h1,618.2−0.020%$472K$289K20xas long as short
Coinbase International OPENAI-PERP-INTX+0.0040%1h1,625+0.403%$226K$162K5xas long as short
Extended OPENAI-USD+0.0048%1h1,618.1−0.028%$141K$895K10xas long as short
Aster OPENAIUSDT+0.0050%8h1,621.5+0.181%$211K$3K20xas long as short
Binance OPENAIUSDT+0.0050%8h1,618.5−0.001%$22.8M$17.3M20xas long as short
MEXC OPENAI_USDT+0.0050%8h1,618.5−0.002%$13.0M$3.1M50xas long as short
KuCoin OPENAIUSDTM+0.0050%8h1,620.5+0.122%$372K$71K20xas long as short
Variational Omni OPENAI+0.0050%8h1,619+0.029%$2.6M$757K—as long as short
GRVT OPENAI_USDT_Perp+0.0050%8h1,619.2+0.041%$2K$174K10xas long as short
Aevo OPENAI-PERP+0.0104%1h1,617.7−0.049%——10xas long as short
Entropy io:OAIshort+0.0139%1h1,670.2+3.193%$7.7M$2.3M6x