Funding arb · Price arb /

ORDI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bybit against HTX+0.102%7-day average +0.009% · you sell dearer than you buy

Net, funding: paid 7d − costs−$127as in the Funding arb table

Net, price: spread back to 7d avg − costs−$107as in the Price arb table

costs, in and out, $10k−$1161.158% of the position

Long on HTX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.110%−$11 on $10k

Price spread, last 4 days (all we have)−0.035%−$3 · spread now +0.102%, 7d avg +0.009%

Together, before fees−0.145%−$15 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: Bybit is 0.093% dearer against HTX than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of +0.009%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX ORDI-USDT	4.9040	0.0100	pay 0.0050% / 4h	2m 15s	$82K	$409K	75x
Short	Bybit ORDIUSDT	4.9090	0.0100	get 0.0050% / 4h	2m 15s	$4.2M	$4.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.102%Rate

Funding earned: $0
Price spread: +0.102% → +0.009%: $9.31
Slippage, 4 orders: −$92.83
Fee HTX: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$106.52
Costs to cover: 1.158%
Break-even: never at this rate

Slippage from HTX: live order book, 56 min ago; Bybit: live order book, just now.

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, 56 min ago	13.42 bp	20.9 bp −$21	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, just now	2.04 bp	24.0 bp −$24	77.2 bp −$772	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
Kraken Futures PF_ORDIUSD	−0.0370%	1h	4.9089	+0.099%	$72K	$44K	25x	as long as short
dYdX ORDI-USD	0.0000%	1h	4.9031	−0.018%	$34K	$651	5x	as long as short
Injective ORDI/USDC PERP	+0.0033%	1h	4.5550	−7.117%	$776	$20K	5.5x	as long as short
BloFin ORDI-USDT	+0.0059%	4h	4.9070	+0.061%	$606K	$307K	75x	as long as short
Aster ORDIUSDT	+0.0100%	4h	4.9048	+0.017%	$14K	$418K	5x	as long as short
Binance ORDIUSDT	+0.0100%	4h	4.9170	+0.265%	$10.1M	$33.2M	50x	as long as short
Bybit ORDIUSDTshort	+0.0100%	4h	4.9090	+0.102%	$4.2M	$4.5M	50x
OKX ORDI-USDT-SWAP	+0.0100%	4h	4.9120	+0.163%	$5.3M	$17.4M	20x	as long as short
Gate ORDI_USDT	+0.0100%	4h	4.9060	+0.041%	$1.3M	$2.7M	50x	as long as short
MEXC ORDI_USDT	+0.0100%	4h	4.9170	+0.265%	$6.9M	$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	4.9086	+0.094%	$979K	$855K	50x	as long as short
Bitget ORDIUSDT	+0.0100%	4h	4.9150	+0.224%	$2.9M	$3.5M	50x	as long as short
BingX ORDI-USDT	+0.0100%	4h	4.9090	+0.102%	—	$27.0M	—	as long as short
Variational Omni ORDI	+0.0100%	4h	4.8861	−0.364%	$24K	$49K	—	as long as short
SunX ORDI-USDT	+0.0100%	4h	4.9010	−0.061%	$1K	$1.2M	20x	as long as short
HTX ORDI-USDTlong	+0.0100%	4h	4.9040	long leg	$82K	$409K	75x
Extended ORDI-USD	+0.0104%	1h	4.9135	+0.194%	$3K	$185K	5x	as long as short
GMX ORDI/USD [WBTC.b-USDC]	L +0.0240% / S −0.3359%	1h	4.9089	+0.101%	$8K	—	100x	as long as short
Hyperliquid ORDI	+0.0288%	1h	4.9176	+0.277%	$708K	$661K	3x	as long as short