Funding arb · Price arb /

ORDI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bitget against HTX+0.021%7-day average +0.044% · you sell dearer than you buy

Net, funding: paid 7d − costs−$75as in the Funding arb table

Net, price: spread back to 7d avg − costs−$78as in the Price arb table

costs, in and out, $10k−$750.754% of the position

Long on HTX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 3 days (all we have)+0.035%+$4 · spread now +0.021%, 7d avg +0.044%

Together, before fees+0.035%+$4 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: Bitget is 0.024% cheaper against HTX than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of +0.044%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX ORDI-USDT	4.8380	0.0100	pay 0.0050% / 4h	2h 47m	$88K	$362K	75x
Short	Bitget ORDIUSDT	4.8390	0.0100	get 0.0050% / 4h	2h 47m	$2.8M	$2.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against HTX. 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 HTXbpFee BitgetbpOrdersPrice spread, now +0.021%Rate

Funding earned: $0
Price spread: +0.021% → +0.044%: −$2.37
Slippage, 4 orders: −$51.42
Fee HTX: 6 bp × 2 orders: −$12
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$77.8
Costs to cover: 0.754%
Break-even: never at this rate

Slippage from HTX: live order book, 40 min ago; Bitget: live order book, 5 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 HTX live order book, 40 min ago	4.10 bp	12.4 bp −$12	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 5 min ago	1.04 bp	15.1 bp −$15	31.5 bp −$315	doesn't fit	doesn't fit

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
Gate ORDI_USDT	−0.0002%	4h	4.8370	−0.021%	$1.2M	$2.7M	50x	as long as short
dYdX ORDI-USD	0.0000%	1h	4.8373	−0.014%	$33K	$651	5x	as long as short
Injective ORDI/USDC PERP	+0.0033%	1h	4.5550	−5.850%	$776	$20K	5.5x	as long as short
BloFin ORDI-USDT	+0.0094%	4h	4.8410	+0.062%	$605K	$297K	75x	as long as short
Hyperliquid ORDI	+0.0100%	1h	4.8463	+0.172%	$707K	$643K	3x	as long as short
Aster ORDIUSDT	+0.0100%	4h	4.8430	+0.103%	$4K	$414K	5x	as long as short
Binance ORDIUSDT	+0.0100%	4h	4.8417	+0.077%	$9.8M	$30.6M	50x	as long as short
Bybit ORDIUSDT	+0.0100%	4h	4.8400	+0.041%	$4.1M	$4.1M	50x	as long as short
OKX ORDI-USDT-SWAP	+0.0100%	4h	4.8380	0.000%	$5.3M	$16.0M	20x	as long as short
MEXC ORDI_USDT	+0.0100%	4h	4.8420	+0.083%	$7.2M	$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	4.8392	+0.025%	$925K	$829K	50x	as long as short
Bitget ORDIUSDTshort	+0.0100%	4h	4.8390	+0.021%	$2.8M	$2.9M	50x
BingX ORDI-USDT	+0.0100%	4h	4.8400	+0.041%	—	$24.5M	—	as long as short
Variational Omni ORDI	+0.0100%	4h	4.8245	−0.279%	$24K	$56K	—	as long as short
SunX ORDI-USDT	+0.0100%	4h	4.8330	−0.103%	$1K	$1.2M	20x	as long as short
HTX ORDI-USDTlong	+0.0100%	4h	4.8380	long leg	$88K	$362K	75x
Extended ORDI-USD	+0.0104%	1h	4.8413	+0.068%	$4K	$172K	5x	as long as short
GMX ORDI/USD [WBTC.b-USDC]	L +0.0238% / S −0.3359%	1h	4.8406	+0.053%	$8K	—	100x	as long as short
Kraken Futures PF_ORDIUSD	+0.2510%	1h	4.8481	+0.209%	$65K	$42K	25x	as long as short