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: MEXC against Gate+0.083%7-day average +0.022% · you sell dearer than you buy

Net, funding: paid 7d − costs−$56as in the Funding arb table

Net, price: spread back to 7d avg − costs−$51as in the Price arb table

costs, in and out, $10k−$570.570% of the position

Long on Gate Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.012%+$1 on $10k

Price spread, last 7 days−0.099%−$10 · spread now +0.083%, 7d avg +0.022%

Together, before fees−0.086%−$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: MEXC is 0.061% dearer against Gate than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of +0.022%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate ORDI_USDT	4.8330	0.0100	pay 0.0050% / 4h	46m 07s	$1.2M	$2.7M	50x
Short	MEXC ORDI_USDT	4.8370	0.0100	get 0.0050% / 4h	46m 07s	$6.8M	$3.4M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.083%Rate

Funding earned: $0
Price spread: +0.083% → +0.022%: $6.11
Slippage, 4 orders: −$42.04
Fee Gate: 7.5 bp × 2 orders: −$15
Fee MEXC: 0 bp × 2 orders: $0
Net: −$50.93
Costs to cover: 0.570%
Break-even: never at this rate

Slippage from Gate: live order book, 2 min ago; MEXC: live order book, 2 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, 2 min ago	3.10 bp	30.5 bp −$31	277.7 bp −$2,777	doesn't fit	doesn't fit
Sell MEXC live order book, 2 min ago	1.03 bp	4.2 bp −$4	24.3 bp −$243	48.4 bp −$4,843	88.2 bp −$44.1K

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	−0.0376%	1h	4.8319	−0.023%	$71K	$44K	25x	as long as short
dYdX ORDI-USD	0.0000%	1h	4.8346	+0.034%	$33K	$651	5x	as long as short
Injective ORDI/USDC PERP	+0.0033%	1h	4.5550	−5.752%	$776	$20K	5.5x	as long as short
Aster ORDIUSDT	+0.0100%	4h	4.8348	+0.037%	$14K	$428K	5x	as long as short
Binance ORDIUSDT	+0.0100%	4h	4.8375	+0.093%	$9.9M	$33.7M	50x	as long as short
Bybit ORDIUSDT	+0.0100%	4h	4.8320	−0.021%	$4.1M	$4.6M	50x	as long as short
OKX ORDI-USDT-SWAP	+0.0100%	4h	4.8360	+0.062%	$5.2M	$17.4M	20x	as long as short
Gate ORDI_USDTlong	+0.0100%	4h	4.8330	long leg	$1.2M	$2.7M	50x
MEXC ORDI_USDTshort	+0.0100%	4h	4.8370	+0.083%	$6.8M	$3.4M	200x
KuCoin ORDIUSDTM	+0.0100%	4h	4.8359	+0.060%	$965K	$876K	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	4.8360	+0.062%	$2.8M	$3.5M	50x	as long as short
BingX ORDI-USDC	+0.0100%	4h	4.8350	+0.041%	—	$2.3M	—	as long as short
Variational Omni ORDI	+0.0100%	4h	4.8316	−0.029%	$24K	$55K	—	as long as short
SunX ORDI-USDT	+0.0100%	4h	4.8300	−0.062%	$1K	$1.2M	20x	as long as short
HTX ORDI-USDT	+0.0100%	4h	4.8330	0.000%	$82K	$401K	75x	as long as short
Extended ORDI-USD	+0.0104%	1h	4.8356	+0.054%	$2K	$188K	5x	as long as short
BloFin ORDI-USDT	+0.0116%	4h	4.8430	+0.207%	$602K	$303K	75x	as long as short
GMX ORDI/USD [WBTC.b-USDC]	L +0.0239% / S −0.3359%	1h	4.8311	−0.040%	$8K	—	100x	as long as short
Hyperliquid ORDI	+0.0458%	1h	4.8444	+0.236%	$697K	$660K	3x	as long as short