Funding arb · Price arb /

ORDI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.010%

Price spread now: BingX against Gate+0.041%7-day average −0.080% · you sell dearer than you buy

Net, funding: paid 7d − costs−$83as in the Funding arb table

Net, price: spread back to 7d avg − costs−$78as in the Price arb table

costs, in and out, $10k−$900.897% of the position

Long on Gate Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.067%+$7 on $10k

Price spread, last 7 days−0.155%−$15 · spread now +0.041%, 7d avg −0.080%

Together, before fees−0.088%−$9 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: BingX is 0.121% dearer against Gate than usual: you sell high and buy low, +$12 on $10k if it goes back to its 7-day average of −0.080%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate ORDI_USDT	4.8980	0.0100	pay 0.0050% / 4h	2m 41s	$1.3M	$2.7M	50x
Short	BingX ORDI-USDC	4.9000	0.0100	get 0.0050% / 4h	2m 41s	—	$2.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Gate. 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 GatebpFee BingXbpOrdersPrice spread, now +0.041%Rate

Funding earned: $0
Price spread: +0.041% → −0.080%: $12.05
Slippage, 4 orders: −$64.66
Fee Gate: 7.5 bp × 2 orders: −$15
Fee BingX: 5 bp × 2 orders: −$10
Net: −$77.61
Costs to cover: 0.897%
Break-even: never at this rate

Slippage from Gate: live order book, 5 min ago; BingX: live order book, 5 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 Gate live order book, 5 min ago	2.04 bp	23.7 bp −$24	145.5 bp −$1,455	doesn't fit	doesn't fit
Sell BingX live order book, 5 min ago	2.04 bp	17.6 bp −$18	138.8 bp −$1,388	478.6 bp −$47.9K	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	−0.0371%	1h	4.8981	+0.002%	$72K	$44K	25x	as long as short
dYdX ORDI-USD	0.0000%	1h	4.9031	+0.104%	$34K	$651	5x	as long as short
Injective ORDI/USDC PERP	+0.0033%	1h	4.5550	−7.003%	$776	$20K	5.5x	as long as short
BloFin ORDI-USDT	+0.0059%	4h	4.9070	+0.184%	$606K	$307K	75x	as long as short
Aster ORDIUSDT	+0.0100%	4h	4.9026	+0.094%	$14K	$418K	5x	as long as short
Binance ORDIUSDT	+0.0100%	4h	4.9070	+0.184%	$10.1M	$33.2M	50x	as long as short
Bybit ORDIUSDT	+0.0100%	4h	4.8990	+0.020%	$4.2M	$4.5M	50x	as long as short
OKX ORDI-USDT-SWAP	+0.0100%	4h	4.9060	+0.163%	$5.3M	$17.4M	20x	as long as short
Gate ORDI_USDTlong	+0.0100%	4h	4.8980	long leg	$1.3M	$2.7M	50x
MEXC ORDI_USDT	+0.0100%	4h	4.9040	+0.122%	$6.8M	$3.4M	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	4.9008	+0.057%	$977K	$855K	50x	as long as short
Bitget ORDIUSDT	+0.0100%	4h	4.9050	+0.143%	$2.9M	$3.5M	50x	as long as short
BingX ORDI-USDCshort	+0.0100%	4h	4.9000	+0.041%	—	$2.3M	—
Variational Omni ORDI	+0.0100%	4h	4.8861	−0.242%	$24K	$49K	—	as long as short
SunX ORDI-USDT	+0.0100%	4h	4.8990	+0.020%	$1K	$1.2M	20x	as long as short
HTX ORDI-USDT	+0.0100%	4h	4.8990	+0.020%	$82K	$409K	75x	as long as short
Extended ORDI-USD	+0.0104%	1h	4.9072	+0.189%	$2K	$183K	5x	as long as short
GMX ORDI/USD [WBTC.b-USDC]	L +0.0239% / S −0.3359%	1h	4.8998	+0.037%	$8K	—	100x	as long as short
Hyperliquid ORDI	+0.0288%	1h	4.9130	+0.306%	$707K	$661K	3x	as long as short