Funding arb · Price arb /

ORDI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.3259%/8h= +356.8% APRpaid last 24h +0.405%

Price spread now: GMX against Gate+0.081%7-day average — · you sell dearer than you buy

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

Long on Gate Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 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

Both sides work for this trade now. Funding pays +$98 a day on $10k at the current rate, and GMX is 0.081% dearer against Gate than usual: you sell high and buy low: +$8 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate ORDI_USDT	4.9630	0.0100	pay 0.0050% / 4h	3h 12m	$1.3M	$2.7M	50x
Short	GMX ORDI/USD [WBTC.b-USDC]	4.9670	L +0.0240% / S −0.3359%	get 0.0420% / 1h	12m 23s	$9K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now +0.081%Rate

Funding earned: $684.29
Price spread: +0.081% → 0.000%: $8.09
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee GMX: 6 bp × 2 orders: −$12
Net: $665.38
Costs to cover: 0.270%
Break-even: 0.2 days

Slippage unknown: Gate: live order book, 6 min ago; GMX: no order-book sample. 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 Gate live order book, 6 min ago	1.01 bp	22.6 bp −$23	171.9 bp −$1,719	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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-USD	0.0000%	1h	4.9652	+0.043%	$34K	$651	5x	as long as short
Injective ORDI/USDC PERP	+0.0033%	1h	4.5550	−8.221%	$776	$20K	5.5x	as long as short
Hyperliquid ORDI	+0.0100%	1h	4.9698	+0.137%	$719K	$650K	3x	as long as short
Aster ORDIUSDT	+0.0100%	4h	4.9643	+0.027%	$3K	$421K	5x	as long as short
Binance ORDIUSDT	+0.0100%	4h	4.9650	+0.040%	$10.2M	$31.7M	50x	as long as short
Bybit ORDIUSDT	+0.0100%	4h	4.9630	0.000%	$4.2M	$4.3M	50x	as long as short
OKX ORDI-USDT-SWAP	+0.0100%	4h	4.9620	−0.020%	$5.5M	$17.0M	20x	as long as short
Gate ORDI_USDTlong	+0.0100%	4h	4.9630	long leg	$1.3M	$2.7M	50x
MEXC ORDI_USDT	+0.0100%	4h	4.9640	+0.020%	$7.2M	$3.4M	200x	as long as short
KuCoin ORDIUSDTM	+0.0100%	4h	4.9641	+0.022%	$939K	$825K	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	4.9650	+0.040%	$2.9M	$3.1M	50x	as long as short
BingX ORDI-USDC	+0.0100%	4h	4.9760	+0.262%	—	$2.3M	—	as long as short
Variational Omni ORDI	+0.0100%	4h	4.9437	−0.388%	$24K	$56K	—	as long as short
SunX ORDI-USDT	+0.0100%	4h	4.9620	−0.020%	$2K	$1.2M	20x	as long as short
HTX ORDI-USDT	+0.0100%	4h	4.9640	+0.020%	$90K	$348K	75x	as long as short
Extended ORDI-USD	+0.0104%	1h	4.9626	−0.009%	$4K	$192K	5x	as long as short
BloFin ORDI-USDT	+0.0109%	4h	4.9620	−0.020%	$611K	$315K	75x	as long as short
GMX ORDI/USD [WBTC.b-USDC]short	L +0.0240% / S −0.3359%	1h	4.9670	+0.081%	$9K	—	100x
Kraken Futures PF_ORDIUSD	+0.2917%	1h	4.9783	+0.308%	$67K	$39K	25x	as long as short