Funding arb · Price arb /

ORDI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.3259%/8h= +356.8% APRpaid last 24h +0.468%

Price spread now: GMX against Aster−0.054%7-day average — · you buy dearer than you sell

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

Long on Aster Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

Funding pays, the price is against you. GMX is 0.054% cheaper against Aster than usual: you would sell low and buy high (spread −0.054% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 1 hour of funding at the current rate (+$98 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster ORDIUSDT	4.8974	0.0100	pay 0.0050% / 4h	1h 40m	$12K	$427K	5x
Short	GMX ORDI/USD [WBTC.b-USDC]	4.8948	L +0.0239% / S −0.3359%	get 0.0420% / 1h	40m 00s	$8K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Aster. 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 AsterbpFee GMXbpOrdersPrice spread, now −0.054%Rate

Funding earned: $684.29
Price spread: −0.054% → 0.000%: −$5.38
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee GMX: 6 bp × 2 orders: −$12
Net: $658.91
Costs to cover: 0.200%
Break-even: 0.3 days

Slippage unknown: Aster: live order book, 22 min ago; GMX: no order-book sample. 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 Aster live order book, 22 min ago	7.16 bp	19.8 bp −$20	doesn't fit	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

ORDI on 19 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
Kraken Futures PF_ORDIUSD	−0.0350%	1h	4.8956	−0.037%	$72K	$46K	25x	as long as short
dYdX ORDI-USD	0.0000%	1h	4.8970	−0.009%	$34K	$651	5x	as long as short
Injective ORDI/USDC PERP	+0.0033%	1h	4.5550	−6.992%	$776	$20K	5.5x	as long as short
Aster ORDIUSDTlong	+0.0100%	4h	4.8974	long leg	$12K	$427K	5x
Binance ORDIUSDT	+0.0100%	4h	4.9000	+0.052%	$10.1M	$33.2M	50x	as long as short
Bybit ORDIUSDT	+0.0100%	4h	4.8950	−0.050%	$4.2M	$4.5M	50x	as long as short
OKX ORDI-USDT-SWAP	+0.0100%	4h	4.8960	−0.030%	$5.3M	$17.4M	20x	as long as short
Gate ORDI_USDT	+0.0100%	4h	4.8960	−0.030%	$1.3M	$2.7M	50x	as long as short
MEXC ORDI_USDT	+0.0100%	4h	4.8980	+0.011%	$7.0M	$3.3M	200x	as long as short
KuCoin ORDIUSDTM	+0.0100%	4h	4.8978	+0.007%	$954K	$866K	50x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget ORDIUSDT	+0.0100%	4h	4.8970	−0.009%	$2.9M	$3.5M	50x	as long as short
BingX ORDI-USDT	+0.0100%	4h	4.9000	+0.052%	—	$27.1M	—	as long as short
Variational Omni ORDI	+0.0100%	4h	4.8950	−0.049%	$24K	$55K	—	as long as short
SunX ORDI-USDT	+0.0100%	4h	4.8940	−0.070%	$2K	$1.2M	20x	as long as short
HTX ORDI-USDT	+0.0100%	4h	4.9030	+0.113%	$81K	$390K	75x	as long as short
Extended ORDI-USD	+0.0104%	1h	4.8991	+0.034%	$3K	$195K	5x	as long as short
BloFin ORDI-USDT	+0.0109%	4h	4.8990	+0.032%	$611K	$305K	75x	as long as short
GMX ORDI/USD [WBTC.b-USDC]short	L +0.0239% / S −0.3359%	1h	4.8948	−0.054%	$8K	—	100x
Hyperliquid ORDI	+0.0290%	1h	4.9064	+0.183%	$708K	$661K	3x	as long as short