Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0054%/8h= +5.9% APRpaid last 24h +0.016%

Price spread now: KuCoin against QFEX+0.184%7-day average +0.073% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$4,424as in the Price arb table

costs, in and out, $10k−$4,43544.354% of the position

Long on QFEX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.059%+$6 on $10k

Price spread, last 4 days (all we have)−0.106%−$11 · spread now +0.184%, 7d avg +0.073%

Together, before fees−0.047%−$5 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 KuCoin is 0.111% dearer against QFEX than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of +0.073%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX OPENAI-USD	1,622.3	−0.0004	get 0.0000% / 1h	11m 07s	$1.2M	$548K	10x
Short	KuCoin OPENAIUSDTM	1,625.3	0.0050	get 0.0050% / 8h	4h 11m	$375K	$70K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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

Position, each leg$Hold fordaysFee QFEXbpFee KuCoinbpOrdersPrice spread, now +0.184%Rate

Funding earned: $11.29
Price spread: +0.184% → +0.073%: $11.11
Slippage, 4 orders: −$4,413.36
Fee QFEX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$4,412.95
Costs to cover: 44.354%
Break-even: 2743.2 days

Slippage from QFEX: live order book, 5 min ago; KuCoin: live order book, 71 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 QFEX live order book, 5 min ago	3.05 bp	10.4 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 71 min ago	7.87 bp	3687.9 bp −$3,688	doesn't fit	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
Coinbase International OPENAI-PERP-INTX	−0.0024%	1h	1,624.9	+0.160%	$226K	$161K	5x	as long as short
QFEX OPENAI-USDlong	−0.0004%	1h	1,622.3	long leg	$1.2M	$548K	10x
Bybit OPENAIUSDT	0.0000%	8h	1,664	+2.569%	$755K	$207K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,652	+1.828%	$5.1M	$1.3M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,619.3	−0.189%	$52.4M	$28.1M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,623.7	+0.084%	$5.5M	$5.0M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,623.8	+0.090%	—	$2.4M	10x	as long as short
Deribit OPENAI_USDC-PERPETUAL	0.0000%	1h	1,621.9	−0.027%	—	$3	5x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,623.4	+0.064%	$78K	$219K	20x	as long as short
Phemex OPENAIUSDT	0.0000%	8h	1,622.7	+0.022%	$1.6M	$546K	10x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter OPENAI	+0.0008%	1h	1,713.7	+5.628%	$1.4M	$266K	5x	as long as short
Lighter RH OPENAI	+0.0032%	1h	1,680.8	+3.605%	$2.7M	$6.2M	5x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,621.9	−0.025%	$141K	$740K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,627.7	+0.328%	$212K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,622.4	+0.005%	$22.9M	$17.9M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,622.6	+0.017%	$13.0M	$3.2M	50x	as long as short
KuCoin OPENAIUSDTMshort	+0.0050%	8h	1,625.3	+0.184%	$375K	$70K	20x
Variational Omni OPENAI	+0.0050%	8h	1,622.4	+0.002%	$2.6M	$766K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,623.1	+0.049%	$2K	$150K	10x	as long as short
BloFin OPENAI-USDT	+0.0076%	8h	1,622.6	+0.017%	$474K	$286K	20x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,622.2	−0.006%	—	—	10x	as long as short
Entropy io:OAI	+0.0237%	1h	1,675.3	+3.264%	$7.7M	$2.3M	6x	as long as short