Funding arb · Price arb /

ORDI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: dYdX against HTX+0.046%7-day average — · you sell dearer than you buy

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

Long on HTX Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 5 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. dYdX is 0.046% dearer against HTX than usual: you sell high and buy low (spread +0.046% now, against zero (this spread has no 7-day history yet)): +$5 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 37 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX ORDI-USDT	4.8650	0.0100	pay 0.0050% / 4h	2h 20m	$89K	$362K	75x
Short	dYdX ORDI-USD	4.8673	0	get 0.0000% / 1h	20m 36s	$33K	$651	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now +0.046%Rate

Funding earned: −$21
Price spread: +0.046% → 0.000%: $4.64
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$38.36
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: HTX: live order book, 2 min ago; dYdX: 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 HTX live order book, 2 min ago	9.24 bp	18.1 bp −$18	doesn't fit	doesn't fit	doesn't fit
Sell dYdX no order-book sample	—	—	—	—	—

dYdX: 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-USDshort	0.0000%	1h	4.8673	+0.046%	$33K	$651	5x
Injective ORDI/USDC PERP	+0.0033%	1h	4.5550	−6.372%	$776	$20K	5.5x	as long as short
Hyperliquid ORDI	+0.0100%	1h	4.8717	+0.138%	$709K	$645K	3x	as long as short
Aster ORDIUSDT	+0.0100%	4h	4.8691	+0.083%	$5K	$415K	5x	as long as short
Binance ORDIUSDT	+0.0100%	4h	4.8654	+0.008%	$9.9M	$30.7M	50x	as long as short
Bybit ORDIUSDT	+0.0100%	4h	4.8620	−0.062%	$4.2M	$4.2M	50x	as long as short
OKX ORDI-USDT-SWAP	+0.0100%	4h	4.8640	−0.021%	$5.3M	$16.2M	20x	as long as short
Gate ORDI_USDT	+0.0100%	4h	4.8690	+0.082%	$1.2M	$2.7M	50x	as long as short
MEXC ORDI_USDT	+0.0100%	4h	4.8650	0.000%	$7.1M	$3.3M	200x	as long as short
KuCoin ORDIUSDTM	+0.0100%	4h	4.8673	+0.047%	$930K	$823K	50x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget ORDIUSDT	+0.0100%	4h	4.8620	−0.062%	$2.8M	$2.9M	50x	as long as short
BingX ORDI-USDC	+0.0100%	4h	4.8690	+0.082%	—	$2.3M	—	as long as short
Variational Omni ORDI	+0.0100%	4h	4.8673	+0.048%	$24K	$56K	—	as long as short
SunX ORDI-USDT	+0.0100%	4h	4.8580	−0.144%	$1K	$1.2M	20x	as long as short
HTX ORDI-USDTlong	+0.0100%	4h	4.8650	long leg	$89K	$362K	75x
Extended ORDI-USD	+0.0104%	1h	4.8648	−0.005%	$5K	$172K	5x	as long as short
BloFin ORDI-USDT	+0.0118%	4h	4.8760	+0.226%	$603K	$301K	75x	as long as short
GMX ORDI/USD [WBTC.b-USDC]	L +0.0239% / S −0.3359%	1h	4.8661	+0.023%	$8K	—	100x	as long as short
Kraken Futures PF_ORDIUSD	+0.2496%	1h	4.8753	+0.211%	$66K	$42K	25x	as long as short