Funding arb · Price arb /

ORDI

all ORDI markets

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: Bitget against GMX−0.005%7-day average — · you buy dearer than you sell

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

Long on GMX Short on Bitget

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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$4 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX ORDI/USD [WBTC.b-USDC]	4.8382	L +0.0239% / S −0.3359%	pay 0.0030% / 1h	48m 08s	$8K	—	100x
Short	Bitget ORDIUSDT	4.8380	0.0100	get 0.0050% / 4h	48m 08s	$2.8M	$3.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.005%Rate

Funding earned: −$29.17
Price spread: −0.005% → 0.000%: −$0.48
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$53.65
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Bitget: live order book, 5 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 Bitget live order book, 5 min ago	3.10 bp	14.6 bp −$15	26.6 bp −$266	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	4.8350	−0.067%	$71K	$44K	25x	as long as short
dYdX ORDI-USD	0.0000%	1h	4.8306	−0.157%	$33K	$651	5x	as long as short
Injective ORDI/USDC PERP	+0.0033%	1h	4.5550	−5.854%	$776	$20K	5.5x	as long as short
Aster ORDIUSDT	+0.0100%	4h	4.8357	−0.052%	$14K	$428K	5x	as long as short
Binance ORDIUSDT	+0.0100%	4h	4.8390	+0.016%	$9.9M	$33.7M	50x	as long as short
Bybit ORDIUSDT	+0.0100%	4h	4.8320	−0.129%	$4.1M	$4.6M	50x	as long as short
OKX ORDI-USDT-SWAP	+0.0100%	4h	4.8350	−0.067%	$5.2M	$17.3M	20x	as long as short
Gate ORDI_USDT	+0.0100%	4h	4.8310	−0.149%	$1.2M	$2.7M	50x	as long as short
MEXC ORDI_USDT	+0.0100%	4h	4.8400	+0.037%	$6.8M	$3.4M	200x	as long as short
KuCoin ORDIUSDTM	+0.0100%	4h	4.8319	−0.131%	$965K	$873K	50x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget ORDIUSDTshort	+0.0100%	4h	4.8380	−0.005%	$2.8M	$3.5M	50x
BingX ORDI-USDC	+0.0100%	4h	4.8340	−0.087%	—	$2.3M	—	as long as short
Variational Omni ORDI	+0.0100%	4h	4.8337	−0.095%	$24K	$55K	—	as long as short
SunX ORDI-USDT	+0.0100%	4h	4.8330	−0.108%	$1K	$1.2M	20x	as long as short
HTX ORDI-USDT	+0.0100%	4h	4.8350	−0.067%	$82K	$401K	75x	as long as short
Extended ORDI-USD	+0.0104%	1h	4.8391	+0.017%	$5K	$185K	5x	as long as short
BloFin ORDI-USDT	+0.0154%	4h	4.8230	−0.315%	$599K	$302K	75x	as long as short
GMX ORDI/USD [WBTC.b-USDC]long	L +0.0239% / S −0.3359%	1h	4.8382	long leg	$8K	—	100x
Hyperliquid ORDI	+0.0467%	1h	4.8470	+0.181%	$698K	$660K	3x	as long as short