Funding arb · Price arb /

ORDI

all ORDI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0139%/8h= −15.3% APRpaid last 24h −0.031%

Price spread now: HTX against GMX+0.050%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 HTX

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 pays, funding is against you. HTX is 0.050% dearer against GMX than usual: you sell high and buy low (spread +0.050% now, against zero (this spread has no 7-day history yet)): +$5 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 29 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX ORDI/USD [WBTC.b-USDC]	4.8915	L +0.0239% / S −0.3359%	pay 0.0030% / 1h	53m 34s	$8K	—	100x
Short	HTX ORDI-USDT	4.8940	0.0100	get 0.0050% / 4h	1h 53m	$79K	$383K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.050%Rate

Funding earned: −$29.28
Price spread: +0.050% → 0.000%: $5.01
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee HTX: 6 bp × 2 orders: −$12
Net: −$48.27
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; HTX: live order book, 10 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 HTX live order book, 10 min ago	14.34 bp	29.7 bp −$30	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 18 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	−0.0350%	1h	4.8950	+0.071%	$72K	$46K	25x	as long as short
dYdX ORDI-USD	0.0000%	1h	4.8895	−0.041%	$34K	$651	5x	as long as short
Injective ORDI/USDC PERP	+0.0033%	1h	4.5550	−6.880%	$776	$20K	5.5x	as long as short
Aster ORDIUSDT	+0.0100%	4h	4.8953	+0.076%	$13K	$427K	5x	as long as short
Binance ORDIUSDT	+0.0100%	4h	4.8918	+0.005%	$10.1M	$33.2M	50x	as long as short
Bybit ORDIUSDT	+0.0100%	4h	4.8890	−0.052%	$4.2M	$4.5M	50x	as long as short
OKX ORDI-USDT-SWAP	+0.0100%	4h	4.8880	−0.073%	$5.3M	$17.4M	20x	as long as short
Gate ORDI_USDT	+0.0100%	4h	4.8900	−0.032%	$1.3M	$2.7M	50x	as long as short
MEXC ORDI_USDT	+0.0100%	4h	4.8930	+0.030%	$7.0M	$3.3M	200x	as long as short
KuCoin ORDIUSDTM	+0.0100%	4h	4.8906	−0.019%	$933K	$866K	50x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget ORDIUSDT	+0.0100%	4h	4.8940	+0.050%	$2.9M	$3.5M	50x	as long as short
BingX ORDI-USDC	+0.0100%	4h	4.8960	+0.091%	—	$2.3M	—	as long as short
Variational Omni ORDI	+0.0100%	4h	4.9122	+0.422%	$24K	$55K	—	as long as short
SunX ORDI-USDT	+0.0100%	4h	4.8920	+0.009%	$1K	$1.2M	20x	as long as short
HTX ORDI-USDTshort	+0.0100%	4h	4.8940	+0.050%	$79K	$383K	75x
Extended ORDI-USD	+0.0104%	1h	4.8907	−0.018%	$3K	$192K	5x	as long as short
GMX ORDI/USD [WBTC.b-USDC]long	L +0.0239% / S −0.3359%	1h	4.8915	long leg	$8K	—	100x
Hyperliquid ORDI	+0.0242%	1h	4.8988	+0.148%	$707K	$660K	3x	as long as short