Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0168%/8h= −18.4% APRpaid last 24h +0.269%

Price spread now: Coinbase International against SunX+0.052%7-day average +0.494% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on SunX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.752%+$75 on $10k

Price spread, last 3 days (all we have)+1.116%+$112 · spread now +0.052%, 7d avg +0.494%

Together, before fees+1.868%+$187 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Coinbase International is 0.442% cheaper against SunX than usual: you would sell low and buy high (−$44 if the spread goes back to its 7-day average of +0.494%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.752%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX OPENAI-USDT	1,624.5	0	get 0.0000% / 8h	39m 46s	—	$2.6M	10x
Short	Coinbase International OPENAI-PERP-INTX	1,625.4	−0.0168	pay 0.0021% / 1h	39m 46s	$236K	$145K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against SunX. 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 SunXbpFee Coinbase InternationalbpOrdersPrice spread, now +0.052%Rate

Funding earned: −$35.28
Price spread: +0.052% → +0.494%: −$44.16
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$97.44
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 7 min ago; Coinbase International: live order book, 38 min ago. Net counts fees only.

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 SunX live order book, 7 min ago	500.51 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International live order book, 38 min ago	7.38 bp	32.8 bp −$33	60.2 bp −$602	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-INTXshort	−0.0168%	1h	1,625.4	+0.052%	$236K	$145K	5x
QFEX OPENAI-USD	−0.0010%	1h	1,623.8	−0.042%	$1.2M	$387K	10x	as long as short
Lighter OPENAI	0.0000%	1h	1,704.7	+4.934%	$1.4M	$286K	5x	as long as short
Bybit OPENAIUSDT	0.0000%	8h	1,669.6	+2.774%	$764K	$220K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,654.5	+1.847%	$5.1M	$1.4M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,621.4	−0.191%	$52.7M	$39.4M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,624.9	+0.022%	$5.5M	$5.1M	20x	as long as short
SunX OPENAI-USDTlong	0.0000%	8h	1,624.5	long leg	—	$2.6M	10x
Deribit OPENAI_USDC-PERPETUAL	0.0000%	1h	1,625.3	+0.049%	—	$3	5x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,625.7	+0.076%	$79K	$213K	20x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex OPENAIUSDT	0.0000%	8h	1,624.5	+0.001%	$1.6M	$559K	10x	as long as short
Lighter RH OPENAI	+0.0032%	1h	1,676.9	+3.223%	$2.6M	$6.2M	5x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,623.9	−0.039%	$131K	$667K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,629.3	+0.298%	$212K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,624.3	−0.013%	$23.1M	$18.8M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,624.4	−0.009%	$13.0M	$3.1M	50x	as long as short
KuCoin OPENAIUSDTM	+0.0050%	8h	1,627.8	+0.203%	$376K	$64K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,624.2	−0.019%	$2.6M	$753K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,623.1	−0.088%	$2K	$141K	10x	as long as short
BloFin OPENAI-USDT	+0.0074%	8h	1,623.7	−0.052%	$470K	$275K	20x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,623.9	−0.037%	—	—	10x	as long as short
Entropy io:OAI	+0.0252%	1h	1,666.7	+2.598%	$7.4M	$2.2M	6x	as long as short