Funding arb · Price arb /

ORDI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0139%/8h= −15.2% APRpaid last 24h −0.031%

Price spread now: Aster against GMX+0.069%7-day average — · you sell dearer than you buy

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

Long on GMX Short on Aster

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—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

The price spread pays, funding is against you. Aster is 0.069% dearer against GMX than usual: you sell high and buy low (spread +0.069% now, against zero (this spread has no 7-day history yet)): +$7 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 40 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX ORDI/USD [WBTC.b-USDC]	4.8342	L +0.0239% / S −0.3359%	pay 0.0030% / 1h	50m 19s	$8K	—	100x
Short	Aster ORDIUSDT	4.8375	0.0100	get 0.0050% / 4h	50m 19s	$14K	$428K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against GMX. 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 GMXbpFee AsterbpOrdersPrice spread, now +0.069%Rate

Funding earned: −$29.15
Price spread: +0.069% → 0.000%: $6.86
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Aster: 4 bp × 2 orders: −$8
Net: −$42.29
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Aster: live order book, 7 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 GMX no order-book sample	—	—	—	—	—
Sell Aster live order book, 7 min ago	6.18 bp	21.7 bp −$22	doesn't fit	doesn't fit	doesn't fit

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
Kraken Futures PF_ORDIUSD	−0.0376%	1h	4.8274	−0.141%	$71K	$44K	25x	as long as short
dYdX ORDI-USD	0.0000%	1h	4.8377	+0.071%	$33K	$651	5x	as long as short
Injective ORDI/USDC PERP	+0.0033%	1h	4.5550	−5.776%	$776	$20K	5.5x	as long as short
BloFin ORDI-USDT	+0.0060%	4h	4.8360	+0.037%	$601K	$303K	75x	as long as short
Aster ORDIUSDTshort	+0.0100%	4h	4.8375	+0.069%	$14K	$428K	5x
Binance ORDIUSDT	+0.0100%	4h	4.8357	+0.030%	$9.9M	$33.6M	50x	as long as short
Bybit ORDIUSDT	+0.0100%	4h	4.8300	−0.087%	$4.1M	$4.6M	50x	as long as short
OKX ORDI-USDT-SWAP	+0.0100%	4h	4.8280	−0.129%	$5.2M	$17.3M	20x	as long as short
Gate ORDI_USDT	+0.0100%	4h	4.8350	+0.016%	$1.3M	$2.7M	50x	as long as short
MEXC ORDI_USDT	+0.0100%	4h	4.8300	−0.087%	$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	4.8328	−0.030%	$966K	$874K	50x	as long as short
Bitget ORDIUSDT	+0.0100%	4h	4.8350	+0.016%	$2.8M	$3.5M	50x	as long as short
BingX ORDI-USDT	+0.0100%	4h	4.8360	+0.037%	—	$27.0M	—	as long as short
Variational Omni ORDI	+0.0100%	4h	4.8337	−0.012%	$24K	$55K	—	as long as short
SunX ORDI-USDT	+0.0100%	4h	4.8280	−0.129%	$1K	$1.2M	20x	as long as short
HTX ORDI-USDT	+0.0100%	4h	4.8280	−0.129%	$82K	$401K	75x	as long as short
Extended ORDI-USD	+0.0104%	1h	4.8370	+0.058%	$5K	$185K	5x	as long as short
GMX ORDI/USD [WBTC.b-USDC]long	L +0.0239% / S −0.3359%	1h	4.8342	long leg	$8K	—	100x
Hyperliquid ORDI	+0.0489%	1h	4.8452	+0.227%	$697K	$659K	3x	as long as short