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Funding arb · Price arb /

OPENAI

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 00:00 UTC+0.0042%/8h= +4.6% APRnext payment +$0.05 per $10,000 · paid last 24h +0.010%
Price spread now: Lighter RH against QFEX+3.203%7-day average +5.820% · 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−$289as in the Price arb table
costs, in and out, $10k−$270.269% of the position
Long on QFEXShort on Lighter RH
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.037%+$4 on $10k
Price spread, last 7 days+3.566%+$357 · spread now +3.203%, 7d avg +5.820%
Together, before fees+3.602%+ Points / potential airdropLighter RH: Points live · farm board+$360 on $10k · with fees, hour by hour
Funding pays, the price is against you. Lighter RH is 2.618% cheaper against QFEX than usual: you would sell low and buy high (spread +3.203% now, against its 7-day average of +5.820%). If the spread goes back, that is −$262 on $10k: about 7 months of funding at the current rate (+$1 a day).
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongQFEX OPENAI-USD1,631.2−0.0010get 0.0001% / 1h13m 08s$1.2M$387K10x
ShortLighter RH OPENAI1,683.50.0032get 0.0004% / 1h13m 08s$2.6M$6.3M5x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Lighter RH 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
$8.89
Price spread: +3.203% → +5.820%
−$261.78
Slippage, 4 orders
−$16.92
Fee QFEX: 5 bp × 2 orders
−$10
Fee Lighter RH: 0 bp × 2 orders
$0
Net
−$279.81
Costs to cover
0.269%
Break-even
227.4 days
Slippage from QFEX: live order book, 3 min ago; Lighter RH: live order book, 5 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 QFEX live order book, 3 min ago1.56 bp6.6 bp −$713.3 bp −$133doesn't fitdoesn't fit
Sell Lighter RH live order book, 5 min ago2.46 bp4.7 bp −$5133.1 bp −$1,331595.4 bp −$59.5Kdoesn'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−0.0168%1h1,632.3+0.064%$236K$149K5xas long as short
QFEX OPENAI-USDlong−0.0010%1h1,631.2long leg$1.2M$387K10x
Lighter OPENAI0.0000%1h1,711.3+4.910%$1.4M$287K5xas long as short
Bybit OPENAIUSDT0.0000%8h1,677+2.808%$772K$210K25xas long as short
OKX OPENAI-USDT-SWAP0.0000%8h1,660.9+1.820%$5.1M$1.3M20xas long as short
Gate OPENAI_USDT0.0000%8h1,629.3−0.118%$52.7M$39.6M50xas long as short
Bitget OPENAIUSDT0.0000%8h1,633.5+0.138%$5.5M$5.1M20xas long as short
SunX OPENAI-USDT0.0000%8h1,632.5+0.079%—$2.6M10xas long as short
HTX OPENAI-USDT0.0000%8h1,632+0.047%$79K$214K20xas long as short
Phemex OPENAIUSDT0.0000%8h1,631.3+0.003%$1.6M$558K10xas long as short
Show all 22 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Lighter RH OPENAIshort+0.0032%1h1,683.5+3.203%$2.6M$6.3M5x
BloFin OPENAI-USDT+0.0048%8h1,631.2−0.002%$473K$278K20xas long as short
Extended OPENAI-USD+0.0048%1h1,631−0.015%$132K$667K10xas long as short
Aster OPENAIUSDT+0.0050%8h1,636.3+0.313%$213K$3K20xas long as short
Binance OPENAIUSDT+0.0050%8h1,631.2−0.001%$23.2M$18.8M20xas long as short
MEXC OPENAI_USDT+0.0050%8h1,631.7+0.030%$13.1M$3.2M50xas long as short
KuCoin OPENAIUSDTM+0.0050%8h1,635.2+0.246%$377K$63K20xas long as short
Variational Omni OPENAI+0.0050%8h1,631.7+0.028%$2.6M$751K—as long as short
GRVT OPENAI_USDT_Perp+0.0050%8h1,628.9−0.140%$2K$140K10xas long as short
Aevo OPENAI-PERP+0.0104%1h1,630.9−0.016%——10xas long as short
Deribit OPENAI_USDC-PERPETUAL+0.0239%1h1,632.2+0.061%—$35xas long as short
Entropy io:OAI+0.0248%1h1,673.9+2.617%$7.4M$2.2M6xas long as short