Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0050%/8h= +5.4% APRpaid last 24h +0.016%

Price spread now: MEXC against QFEX+0.021%55s7-day average +0.033% · 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—prices read too far apart to compare

costs, in and out, $10k−$230.233% of the position

Long on QFEX Short on MEXC

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 7 days−0.006%−$1 · spread now +0.021%, 7d avg +0.033%

Together, before fees+0.053%+$5 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.033%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate. The two prices were read 55 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX OPENAI-USD	1,620.8	0.0000	pay 0.0000% / 1h	46m 50s	$1.2M	$447K	10x
Short	MEXC OPENAI_USDT	1,621.1	0.0050	get 0.0050% / 8h	5h 46m	$13.0M	$3.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.021%Rate

Funding earned: $10.45
Price spread: +0.021% → +0.033%: −$1.19
Slippage, 4 orders: −$13.26
Fee QFEX: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: −$14
Costs to cover: 0.233%
Break-even: 16.4 days

Slippage from QFEX: live order book, 4 min ago; MEXC: live order book, 2 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, 4 min ago	2.46 bp	9.0 bp −$9	20.1 bp −$201	doesn't fit	doesn't fit
Sell MEXC live order book, 2 min ago	1.02 bp	1.0 bp −$1	1.8 bp −$18	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	−0.0104%	1h	1,623.3	+0.154%	$224K	$158K	5x	as long as short
Lighter OPENAI	0.0000%	1h	1,706.9	+5.315%	$1.4M	$268K	5x	as long as short
Bybit OPENAIUSDT	0.0000%	8h	1,664.1	+2.670%	$763K	$203K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,650	+1.803%	$5.1M	$1.3M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,617.9	−0.178%	$52.3M	$28.7M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,622.8	+0.125%	$5.5M	$5.1M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,623.1	+0.144%	—	$2.4M	10x	as long as short
Deribit OPENAI_USDC-PERPETUAL	0.0000%	1h	1,621.2	+0.027%	—	$3	5x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,621.4	+0.040%	$79K	$216K	20x	as long as short
Phemex OPENAIUSDT	0.0000%	8h	1,621	+0.014%	$1.6M	$543K	10x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX OPENAI-USDlong	0.0000%	1h	1,620.8	long leg	$1.2M	$447K	10x
Lighter RH OPENAI	+0.0032%	1h	1,675.1	+3.350%	$2.7M	$6.1M	5x	as long as short
BloFin OPENAI-USDT	+0.0042%	8h	1,621	+0.013%	—	$276K	20x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,620.6	−0.009%	$131K	$720K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,626	+0.322%	$212K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,620.9	+0.010%	$22.9M	$17.8M	20x	as long as short
MEXC OPENAI_USDTshort	+0.0050%	8h	1,621.1	+0.021%	$13.0M	$3.2M	50x
KuCoin OPENAIUSDTM	+0.0050%	8h	1,622.1	+0.083%	$374K	$71K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,622.7	+0.118%	$2.6M	$752K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,622.3	+0.095%	$2K	$137K	10x	as long as short
Entropy io:OAI	+0.0102%	1h	1,667.2	+2.865%	$7.4M	$2.1M	6x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,620.7	−0.003%	—	—	10x	as long as short