Funding arb · Price arb /

ORDI

all ORDI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: BingX against dYdX−0.063%7-day average — · you buy dearer than you sell

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

Long on dYdX Short on BingX

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

Together, before fees—needs both histories

Funding pays, the price is against you. BingX is 0.063% cheaper against dYdX than usual: you would sell low and buy high (spread −0.063% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$6 on $10k: about 2.1 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX ORDI-USD	4.9872	0	get 0.0000% / 1h	8m 24s	$34K	$651	5x
Short	BingX ORDI-USDT	4.9840	0.0100	get 0.0050% / 4h	3h 08m	—	$27.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against dYdX. 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 dYdXbpFee BingXbpOrdersPrice spread, now −0.063%Rate

Funding earned: $21
Price spread: −0.063% → 0.000%: −$6.32
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$5.32
Costs to cover: 0.200%
Break-even: 8.8 days

Slippage unknown: dYdX: no order-book sample; BingX: live order book, 15 min ago. 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 dYdX no order-book sample	—	—	—	—	—
Sell BingX live order book, 15 min ago	1.02 bp	6.0 bp −$6	12.5 bp −$125	23.7 bp −$2,366	283.1 bp −$141.6K

dYdX: 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
dYdX ORDI-USDlong	0.0000%	1h	4.9872	long leg	$34K	$651	5x
Injective ORDI/USDC PERP	+0.0033%	1h	4.5550	−8.665%	$776	$20K	5.5x	as long as short
Hyperliquid ORDI	+0.0100%	1h	4.9915	+0.087%	$722K	$649K	3x	as long as short
Aster ORDIUSDT	+0.0100%	4h	4.9877	+0.011%	$3K	$423K	5x	as long as short
Binance ORDIUSDT	+0.0100%	4h	4.9860	−0.023%	$10.3M	$31.9M	50x	as long as short
Bybit ORDIUSDT	+0.0100%	4h	4.9840	−0.063%	$4.2M	$4.3M	50x	as long as short
OKX ORDI-USDT-SWAP	+0.0100%	4h	4.9810	−0.123%	$5.5M	$17.1M	20x	as long as short
Gate ORDI_USDT	+0.0100%	4h	4.9830	−0.083%	$1.3M	$2.7M	50x	as long as short
MEXC ORDI_USDT	+0.0100%	4h	4.9860	−0.023%	$7.2M	$3.4M	200x	as long as short
KuCoin ORDIUSDTM	+0.0100%	4h	4.9860	−0.023%	$942K	$828K	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	4.9860	−0.023%	$2.9M	$3.1M	50x	as long as short
BingX ORDI-USDTshort	+0.0100%	4h	4.9840	−0.063%	—	$27.3M	—
Variational Omni ORDI	+0.0100%	4h	4.9672	−0.400%	$24K	$56K	—	as long as short
SunX ORDI-USDT	+0.0100%	4h	4.9770	−0.204%	$2K	$1.2M	20x	as long as short
HTX ORDI-USDT	+0.0100%	4h	4.9910	+0.077%	$91K	$351K	75x	as long as short
Extended ORDI-USD	+0.0104%	1h	4.9848	−0.047%	$4K	$192K	5x	as long as short
BloFin ORDI-USDT	+0.0154%	4h	4.9930	+0.117%	$615K	$318K	75x	as long as short
GMX ORDI/USD [WBTC.b-USDC]	L +0.0240% / S −0.3359%	1h	4.9841	−0.061%	$9K	—	100x	as long as short
Kraken Futures PF_ORDIUSD	+0.2904%	1h	4.9994	+0.246%	$67K	$39K	25x	as long as short