Funding arb · Price arb /

ORDI

all ORDI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0139%/8h= −15.2% APRpaid last 24h −0.030%

Price spread now: Variational Omni against GMX−0.013%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 Variational Omni

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 airdropVariational Omni: Active · farm boardneeds 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]	4.9044	L +0.0239% / S −0.3359%	pay 0.0030% / 1h	51m 50s	$8K	—	100x
Short	Variational Omni ORDI	4.9038	0.0100	get 0.0050% / 4h	51m 50s	$24K	$56K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.013%Rate

Funding earned: −$29.19
Price spread: −0.013% → 0.000%: −$1.29
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$42.47
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Variational Omni: 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 GMX no order-book sample	—	—	—	—	—
Sell Variational Omni no order-book sample	—	—	—	—	—

GMX and Variational Omni: 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	4.9084	+0.080%	$34K	$651	5x	as long as short
Injective ORDI/USDC PERP	+0.0033%	1h	4.5550	−7.125%	$776	$20K	5.5x	as long as short
BloFin ORDI-USDT	+0.0100%	4h	4.9160	+0.236%	$608K	$311K	75x	as long as short
Hyperliquid ORDI	+0.0100%	1h	4.9159	+0.234%	$714K	$650K	3x	as long as short
Aster ORDIUSDT	+0.0100%	4h	4.9105	+0.124%	$4K	$419K	5x	as long as short
Binance ORDIUSDT	+0.0100%	4h	4.9105	+0.123%	$10.1M	$31.2M	50x	as long as short
Bybit ORDIUSDT	+0.0100%	4h	4.9080	+0.073%	$4.1M	$4.2M	50x	as long as short
OKX ORDI-USDT-SWAP	+0.0100%	4h	4.9070	+0.053%	$5.3M	$16.6M	20x	as long as short
Gate ORDI_USDT	+0.0100%	4h	4.9080	+0.073%	$1.3M	$2.7M	50x	as long as short
MEXC ORDI_USDT	+0.0100%	4h	4.9100	+0.114%	$7.1M	$3.3M	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	4.9083	+0.079%	$942K	$825K	50x	as long as short
Bitget ORDIUSDT	+0.0100%	4h	4.9100	+0.114%	$2.9M	$3.0M	50x	as long as short
BingX ORDI-USDT	+0.0100%	4h	4.9100	+0.114%	—	$24.3M	—	as long as short
Variational Omni ORDIshort	+0.0100%	4h	4.9038	−0.013%	$24K	$56K	—
SunX ORDI-USDT	+0.0100%	4h	4.9010	−0.070%	$1K	$1.2M	20x	as long as short
HTX ORDI-USDT	+0.0100%	4h	4.9110	+0.134%	$89K	$355K	75x	as long as short
Extended ORDI-USD	+0.0104%	1h	4.9090	+0.094%	$5K	$172K	5x	as long as short
GMX ORDI/USD [WBTC.b-USDC]long	L +0.0239% / S −0.3359%	1h	4.9044	long leg	$8K	—	100x
Kraken Futures PF_ORDIUSD	+0.3012%	1h	4.9187	+0.292%	$66K	$43K	25x	as long as short