ORDI

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0017%/8h= −1.9% APRnext payment −$0.08 per $10,000 · paid last 24h −0.015%

Price spread now: Bybit against BloFin−0.123%7-day average −0.071% · you buy dearer than you sell

Net, funding: paid 7d − costs−$89as in the Funding arb table

Net, price: spread back to 7d avg − costs−$84as in the Price arb table

costs, in and out, $10k−$790.790% of the position

Long on BloFin Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.102%−$10 on $10k

Price spread, last 3 days (all we have)+0.101%+$10 · spread now −0.123%, 7d avg −0.071%

Together, before fees−0.001%$0 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Bybit is 0.053% cheaper against BloFin than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.071%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin ORDI-USDT	4.8720	0.0117	pay 0.0058% / 4h	2h 24m	$601K	$301K	75x
Short	Bybit ORDIUSDT	4.8660	0.0100	get 0.0050% / 4h	2h 24m	$4.2M	$4.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against BloFin. 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 BloFinbpFee BybitbpOrdersPrice spread, now −0.123%Rate

Funding earned: −$3.56
Price spread: −0.123% → −0.071%: −$5.26
Slippage, 4 orders: −$56.05
Fee BloFin: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$87.87
Costs to cover: 0.790%
Break-even: never at this rate

Slippage from BloFin: live order book, 61 min ago; Bybit: live order book, 3 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 BloFin live order book, 61 min ago	2.05 bp	19.3 bp −$19	46.8 bp −$468	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	1.03 bp	19.8 bp −$20	71.6 bp −$716	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
dYdX ORDI-USD	0.0000%	1h	4.8719	−0.002%	$33K	$651	5x	as long as short
Injective ORDI/USDC PERP	+0.0033%	1h	4.5550	−6.507%	$776	$20K	5.5x	as long as short
Hyperliquid ORDI	+0.0100%	1h	4.8817	+0.199%	$711K	$644K	3x	as long as short
Aster ORDIUSDT	+0.0100%	4h	4.8717	−0.007%	$4K	$415K	5x	as long as short
Binance ORDIUSDT	+0.0100%	4h	4.8730	+0.021%	$9.9M	$30.7M	50x	as long as short
Bybit ORDIUSDTshort	+0.0100%	4h	4.8660	−0.123%	$4.2M	$4.2M	50x
OKX ORDI-USDT-SWAP	+0.0100%	4h	4.8670	−0.103%	$5.3M	$16.2M	20x	as long as short
Gate ORDI_USDT	+0.0100%	4h	4.8690	−0.062%	$1.2M	$2.7M	50x	as long as short
MEXC ORDI_USDT	+0.0100%	4h	4.8760	+0.082%	$7.1M	$3.3M	200x	as long as short
KuCoin ORDIUSDTM	+0.0100%	4h	4.8701	−0.039%	$931K	$823K	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	4.8690	−0.062%	$2.8M	$2.9M	50x	as long as short
BingX ORDI-USDC	+0.0100%	4h	4.8630	−0.185%	—	$2.3M	—	as long as short
Variational Omni ORDI	+0.0100%	4h	4.8673	−0.096%	$24K	$56K	—	as long as short
SunX ORDI-USDT	+0.0100%	4h	4.8640	−0.164%	$2K	$1.2M	20x	as long as short
HTX ORDI-USDT	+0.0100%	4h	4.8690	−0.062%	$89K	$362K	75x	as long as short
Extended ORDI-USD	+0.0104%	1h	4.8734	+0.029%	$5K	$172K	5x	as long as short
BloFin ORDI-USDTlong	+0.0117%	4h	4.8720	long leg	$601K	$301K	75x
GMX ORDI/USD [WBTC.b-USDC]	L +0.0239% / S −0.3359%	1h	4.8683	−0.075%	$8K	—	100x	as long as short
Kraken Futures PF_ORDIUSD	+0.2492%	1h	4.8817	+0.199%	$66K	$42K	25x	as long as short