Funding arb · Price arb /

ORDI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: OKX against Bitget+0.020%7-day average −0.005% · you sell dearer than you buy

Net, funding: paid 7d − costs−$65as in the Funding arb table

Net, price: spread back to 7d avg − costs−$56as in the Price arb table

costs, in and out, $10k−$590.589% of the position

Long on Bitget Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.062%−$6 on $10k

Price spread, last 7 days−0.016%−$2 · spread now +0.020%, 7d avg −0.005%

Together, before fees−0.079%−$8 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 0.025% dearer against Bitget than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of −0.005%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget ORDIUSDT	4.9290	0.0100	pay 0.0050% / 4h	3h 57m	$2.9M	$3.5M	50x
Short	OKX ORDI-USDT-SWAP	4.9300	0.0100	get 0.0050% / 4h	3h 57m	$5.3M	$17.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Bitget. 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 BitgetbpFee OKXbpOrdersPrice spread, now +0.020%Rate

Funding earned: $0
Price spread: +0.020% → −0.005%: $2.49
Slippage, 4 orders: −$36.86
Fee Bitget: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$56.37
Costs to cover: 0.589%
Break-even: never at this rate

Slippage from Bitget: live order book, just now; OKX: live order book, 1 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 Bitget live order book, just now	3.04 bp	15.0 bp −$15	31.3 bp −$313	doesn't fit	doesn't fit
Sell OKX live order book, 1 min ago	1.01 bp	15.0 bp −$15	46.3 bp −$463	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	−0.0570%	1h	4.9219	−0.144%	$72K	$44K	25x	as long as short
dYdX ORDI-USD	0.0000%	1h	4.9294	+0.008%	$34K	$651	5x	as long as short
Injective ORDI/USDC PERP	+0.0033%	1h	4.5550	−7.588%	$776	$20K	5.5x	as long as short
Hyperliquid ORDI	+0.0100%	1h	4.9384	+0.191%	$710K	$661K	3x	as long as short
Aster ORDIUSDT	+0.0100%	4h	4.9382	+0.186%	$14K	$420K	5x	as long as short
Binance ORDIUSDT	+0.0100%	4h	4.9338	+0.098%	$10.1M	$33.2M	50x	as long as short
Bybit ORDIUSDT	+0.0100%	4h	4.9280	−0.020%	$4.2M	$4.5M	50x	as long as short
OKX ORDI-USDT-SWAPshort	+0.0100%	4h	4.9300	+0.020%	$5.3M	$17.5M	20x
Gate ORDI_USDT	+0.0100%	4h	4.9350	+0.122%	$1.3M	$2.7M	50x	as long as short
MEXC ORDI_USDT	+0.0100%	4h	4.9320	+0.061%	$6.9M	$3.3M	200x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ORDIUSDTM	+0.0100%	4h	4.9314	+0.049%	$983K	$855K	50x	as long as short
Bitget ORDIUSDTlong	+0.0100%	4h	4.9290	long leg	$2.9M	$3.5M	50x
BingX ORDI-USDT	+0.0100%	4h	4.9360	+0.142%	—	$27.0M	—	as long as short
Variational Omni ORDI	+0.0100%	4h	4.9171	−0.241%	$24K	$43K	—	as long as short
SunX ORDI-USDT	+0.0100%	4h	4.9250	−0.081%	$1K	$1.2M	20x	as long as short
HTX ORDI-USDT	+0.0100%	4h	4.9240	−0.101%	$82K	$410K	75x	as long as short
Extended ORDI-USD	+0.0104%	1h	4.9310	+0.041%	$3K	$185K	5x	as long as short
BloFin ORDI-USDT	+0.0154%	4h	4.9170	−0.243%	$606K	$307K	75x	as long as short
GMX ORDI/USD [WBTC.b-USDC]	L +0.0240% / S −0.3359%	1h	4.9295	+0.010%	$8K	—	100x	as long as short