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Pre-IPO perp · up to 50x · 17 venues

OpenAI pre-IPO perp

OpenAI is privately held; its perpetual futures track a reference price set by each venue. At 01:45 UTC on November 12, 2026, the contract traded at a median $1,282.99 (+1.56% over 24 hours), with $52.0M in open interest across 17 venues, led by Binance with 28%. Venues set their own reference prices and range from $1,280.16 to $1,387.85. Maximum leverage is 50x, on Gate; open-interest-weighted funding is 5.0% annualized.

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As of
  • Entropy, 13 markets
  • Lighter, 209 markets
  • Aster, 578 markets
  • Extended, 340 markets
  • QFEX, 237 markets
  • Kraken Futures, 209 markets
  • Variational, 588 markets
  • GRVT, 184 markets
  • Aevo, 102 markets
  • Bitget, 930 markets
  • Gate, 1077 markets
  • MEXC, 1204 markets
  • HTX, 410 markets
  • KuCoin, 721 markets
  • Deribit, 144 markets
  • Phemex, 147 markets
  • Binance, 758 markets
OverviewLeverage & venuesFundingOpen interestLiquidationsVolume & flowNews & changes

OPENAI at your leverage

Leverage

$1,000 at 10x: a $10,000 position, $100 per 1% move

Liquidation price
$1,166.35
−9.1% from $1,282.99 on Gate
Position
$10,000
+$100 for each 1% move
Today at 10x
+$156
+16% of margin from the 24-hour change
Hold a day
$0.00
Funding and borrow at today's rate
OPENAI at 10x long by venue
VenueOffers 10xLiquidationRoomHold a day
GateYes$1,166.35−9.1%$0.00
MEXCYes$1,166.35−9.1%−$1.50
BitgetYes$1,184.30−7.7%−$1.50
HTXYes$1,184.30−7.7%−$1.50
KuCoinYes$1,184.30−7.7%−$1.50
ExtendedYes$1,215.46−5.3%−$1.44
QFEXYes$1,215.46−5.3%−$2.29
AevoYes$1,215.46−5.3%−$3.12
PhemexYes$1,215.46−5.3%$0.00

Below 10x:Entropy Lighter Kraken Futures Deribit Aster cap not publishedVariational cap not publishedGRVT cap not publishedBinance cap not published

Also at 10xEvery stock perp at 10x ›

OPENAI perpetual market

Funding spread 19.9% · long Deribit, short Entropy · Price dispersion 839 bps

Shorts pay Longs pay (blue tint: negative funding, red tint: positive funding, stronger at larger rates)
View

Dimmed: 8 venues that cap below your 10x.

Binance · dailyOPENAIUSDT––$14.6M–28%$24.5M1.68x––
BitgetOPENAIUSDT$1,332.56+1.80%$14.1M-2.5%27%$79.4M5.65x+5.5%20x
GateOPENAI_USDT$1,282.72+2.36%$11.3M+17.1%22%$52.2M4.62x0.0%50x
Entropyio:OAI$1,338.10+1.42%$3.9M+3.1%7.5%$2.2M0.56x+19.0%6x
PhemexOPENAIUSDT$1,282.85+2.40%$1.4M+3.1%2.8%$710.8K0.49x0.0%10x
QFEXOPENAI-USD$1,283.90+2.44%$1.3M-26.9%2.6%$3.4M2.53x+8.3%10x
MEXCOPENAI_USDT$1,283.02+2.31%$1.3M-17.5%2.6%$1.9M1.41x+5.5%50x
LighterOPENAI$1,387.85+2.20%$1.2M-5.7%2.3%$1.4M1.22x–5x
AsterOPENAIUSD1$1,283.42+1.34%$1.1M+1.4%2.0%$171.5K0.16x+5.5%–
VariationalOPENAI$1,281.41+2.25%$709.8K-7.0%1.4%$2.0M2.85x+5.5%–
DeribitOPENAI_USDC-PERPETUAL$1,292.41+2.47%$517.6K+2.1%1.0%$721.3K1.39x-0.9%5x
KuCoinOPENAIUSDTM$1,288.36+2.41%$403.6K-1.5%0.8%$498.9K1.24x+5.5%20x
ExtendedOPENAI-USD$1,280.94+2.32%$79.8K+77.8%0.2%$2.1M26.84x+5.3%10x
Kraken FuturesPF_OPENAIXUSD$1,282.96+3.13%$57.3K+3.3%0.1%$14.3K0.25x+5.5%5x
HTXOPENAI-USDT$1,282.35+2.12%$49.2K+0.9%<0.1%$72.7K1.48x+5.5%20x
GRVTOPENAI_USDT_Perp$1,282.14+2.36%$1.6K+4.2%<0.1%$31.3K19.35x+5.5%–
AevoOPENAI-PERP$1,280.16+2.27%$0–0.0%not published–+11.4%10x
All venues$1,282.99+1.56%$52.0M+2.1%100%$171.4M3.30x+5.0%50x

Not counted, priced too far from the other venues to be the same contract (another scale or instrument): OKX OPENAI-USDT-SWAP at $130.65.

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