Funding arb · Price arb /

ORDI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: OKX against Binance−0.074%7-day average −0.009% · you buy dearer than you sell

Net, funding: paid 7d − costs−$47as in the Funding arb table

Net, price: spread back to 7d avg − costs−$53as in the Price arb table

costs, in and out, $10k−$460.461% of the position

Long on Binance Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.008%−$1 on $10k

Price spread, last 7 days+0.111%+$11 · spread now −0.074%, 7d avg −0.009%

Together, before fees+0.102%+$10 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: OKX is 0.065% cheaper against Binance than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of −0.009%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance ORDIUSDT	4.8866	0.0100	pay 0.0050% / 4h	3h 49m	$10.0M	$33.8M	50x
Short	OKX ORDI-USDT-SWAP	4.8830	0.0100	get 0.0050% / 4h	3h 49m	$5.2M	$17.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Binance. 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 BinancebpFee OKXbpOrdersPrice spread, now −0.074%Rate

Funding earned: $0
Price spread: −0.074% → −0.009%: −$6.53
Slippage, 4 orders: −$26.06
Fee Binance: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$52.59
Costs to cover: 0.461%
Break-even: never at this rate

Slippage from Binance: live order book, 8 min ago; OKX: live order book, 4 min ago.

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 Binance live order book, 8 min ago	1.02 bp	12.0 bp −$12	28.5 bp −$285	doesn't fit	doesn't fit
Sell OKX live order book, 4 min ago	1.03 bp	11.7 bp −$12	45.4 bp −$454	doesn't fit	doesn't fit

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	−0.0449%	1h	4.8787	−0.161%	$69K	$43K	25x	as long as short
dYdX ORDI-USD	0.0000%	1h	4.8792	−0.152%	$33K	$577	5x	as long as short
Injective ORDI/USDC PERP	+0.0033%	1h	4.5550	−6.786%	$776	$20K	5.5x	as long as short
BloFin ORDI-USDT	+0.0080%	4h	4.8840	−0.054%	$592K	$307K	75x	as long as short
Hyperliquid ORDI	+0.0100%	1h	4.8914	+0.098%	$705K	$668K	3x	as long as short
Aster ORDIUSDT	+0.0100%	4h	4.8866	0.000%	$10K	$347K	5x	as long as short
Binance ORDIUSDTlong	+0.0100%	4h	4.8866	long leg	$10.0M	$33.8M	50x
Bybit ORDIUSDT	+0.0100%	4h	4.8820	−0.094%	$4.1M	$4.4M	50x	as long as short
OKX ORDI-USDT-SWAPshort	+0.0100%	4h	4.8830	−0.074%	$5.2M	$17.8M	20x
Gate ORDI_USDT	+0.0100%	4h	4.8840	−0.054%	$1.2M	$2.6M	50x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC ORDI_USDT	+0.0100%	4h	4.8870	+0.008%	$6.6M	$3.2M	200x	as long as short
KuCoin ORDIUSDTM	+0.0100%	4h	4.8858	−0.017%	$1.0M	$791K	50x	as long as short
Bitget ORDIUSDT	+0.0100%	4h	4.8850	−0.033%	$2.8M	$3.5M	50x	as long as short
BingX ORDI-USDC	+0.0100%	4h	4.8840	−0.054%	—	$2.3M	—	as long as short
Variational Omni ORDI	+0.0100%	4h	4.8847	−0.039%	$26K	$32K	—	as long as short
SunX ORDI-USDT	+0.0100%	4h	4.8680	−0.381%	$2K	$1.2M	20x	as long as short
HTX ORDI-USDT	+0.0100%	4h	4.8790	−0.156%	$85K	$338K	75x	as long as short
Extended ORDI-USD	+0.0104%	1h	4.8839	−0.056%	$2K	$222K	5x	as long as short
GMX ORDI/USD [WBTC.b-USDC]	L +0.0239% / S −0.3359%	1h	4.8843	−0.047%	$8K	—	100x	as long as short