How much oxygen is in a cup of water?
Since the molecular weight of water is $18\ \mathrm{g/mol}$, $100\ \mathrm{ml}$ (density = $1\ \mathrm{g/ml}$, so $100\ \mathrm{ml} \overset{\wedge}{=} 100\ \mathrm{g}$ of water) of water contains 
$$\frac{100}{18} = 5.56$$
moles of water, or 5.56 moles of atomic oxygen ($\ce{O}$), or 5.56/2 = 2.78 moles of molecular oxygen ($\ce{O2}$).  

At standard temperature and pressure, 1 mole of a gas occupies 22.4 liters.  Therefore, 2.78 moles of molecular oxygen will occupy 62.22 liters.  

If air is 21% molecular oxygen, then we would need 62.22/0.21, or 296.3 liters of air to provide that much molecular oxygen. 

Since 1 cubic meter equals 1000 liters, this volume converts to 0.3 cubic meters of air.

Therefore, 0.3 cubic meters of air contains the same amount of oxygen as is present in 100 ml of water.