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Pre-IPO perp · up to 50x · 16 venues

OpenAI pre-IPO perp

OpenAI is privately held; its perpetual futures track a reference price set by each venue. At 02:26 UTC on November 12, 2026, the contract traded at a median $1,294.14 (+1.16% over 24 hours), with $52.0M in open interest across 16 venues, led by Binance with 28%. Venues set their own reference prices and range from $1,292.39 to $1,394.77. Maximum leverage is 50x, on Gate; open-interest-weighted funding is 5.2% 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, unavailable
  • 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
$1,176.49
−9.1% from $1,294.14 on Gate
Position
$10,000
+$100 for each 1% move
Today at 10x
+$116
+12% 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$1,176.49−9.1%$0.00
MEXCYes$1,176.49−9.1%−$1.50
BitgetYes$1,194.59−7.7%−$1.50
HTXYes$1,194.59−7.7%−$1.50
KuCoinYes$1,194.59−7.7%−$1.50
ExtendedYes$1,226.03−5.3%−$1.44
QFEXYes$1,226.03−5.3%−$9.10
PhemexYes$1,226.03−5.3%$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 33.9% · long Deribit, short QFEX · Price dispersion 791 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$1,345.39+1.97%$14.0M-2.5%27%$75.2M5.36x+5.5%20x
GateOPENAI_USDT$1,293.62+2.26%$11.4M+17.1%22%$50.3M4.43x0.0%50x
Entropyio:OAI$1,341.20+0.77%$3.9M+3.1%7.5%$2.1M0.54x+12.5%6x
PhemexOPENAIUSDT$1,293.53+2.26%$1.5M+3.1%2.8%$701.4K0.48x0.0%10x
QFEXOPENAI-USD$1,296.95+2.75%$1.4M-26.9%2.6%$3.4M2.48x+33.2%10x
MEXCOPENAI_USDT$1,294.14+2.12%$1.3M-17.5%2.5%$1.8M1.39x+5.5%50x
LighterOPENAI$1,394.77+2.12%$1.2M-5.7%2.3%$1.4M1.19x+2.6%5x
AsterOPENAIUSD1$1,295.03+1.56%$1.1M+1.4%2.0%$163.7K0.15x+5.5%–
VariationalOPENAI$1,293.17+2.88%$724.1K-7.0%1.4%$2.1M2.86x+5.5%–
DeribitOPENAI_USDC-PERPETUAL$1,304.30+2.59%$522.4K+2.1%1.0%$673.4K1.29x-0.7%5x
KuCoinOPENAIUSDTM$1,300.12+2.31%$407.7K-1.5%0.8%$494.0K1.21x+5.5%20x
ExtendedOPENAI-USD$1,292.64+2.45%$80.3K+77.8%0.2%$1.9M23.84x+5.3%10x
Kraken FuturesPF_OPENAIXUSD$1,293.70+2.64%$57.0K+3.3%0.1%$14.9K0.26x+5.5%5x
HTXOPENAI-USDT$1,293.57+2.34%$49.6K+0.9%<0.1%$72.4K1.46x+5.5%20x
GRVTOPENAI_USDT_Perp$1,292.39+2.50%$1.7K+4.2%<0.1%$30.3K18.20x+5.5%–
All venues$1,294.14+1.16%$52.0M+2.1%100%$164.8M3.17x+5.2%50x

Not counted, priced too far from the other venues to be the same contract (another scale or instrument): OKX OPENAI-USDT-SWAP at $131.44.

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