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: MEXC against HTX+0.124%7-day average +0.061% · you sell dearer than you buy

Net, funding: paid 7d − costs−$68as in the Funding arb table

Net, price: spread back to 7d avg − costs−$56as in the Price arb table

costs, in and out, $10k−$620.622% of the position

Long on HTX Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.055%−$5 on $10k

Price spread, last 3 days (all we have)−0.071%−$7 · spread now +0.124%, 7d avg +0.061%

Together, before fees−0.126%−$13 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: MEXC is 0.063% dearer against HTX than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of +0.061%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX ORDI-USDT	4.8580	0.0100	pay 0.0050% / 4h	1h 29m	$88K	$362K	75x
Short	MEXC ORDI_USDT	4.8640	0.0100	get 0.0050% / 4h	1h 29m	$7.0M	$3.3M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.124%Rate

Funding earned: $0
Price spread: +0.124% → +0.061%: $6.28
Slippage, 4 orders: −$50.21
Fee HTX: 6 bp × 2 orders: −$12
Fee MEXC: 0 bp × 2 orders: $0
Net: −$55.92
Costs to cover: 0.622%
Break-even: never at this rate

Slippage from HTX: live order book, 54 min ago; MEXC: live order book, 4 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, 54 min ago	9.24 bp	18.1 bp −$18	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 4 min ago	1.03 bp	4.4 bp −$4	10.4 bp −$104	49.8 bp −$4,976	89.7 bp −$44.8K

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	4.8452	−0.263%	$33K	$651	5x	as long as short
Injective ORDI/USDC PERP	+0.0033%	1h	4.5550	−6.237%	$776	$20K	5.5x	as long as short
BloFin ORDI-USDT	+0.0064%	4h	4.8650	+0.144%	$607K	$308K	75x	as long as short
Hyperliquid ORDI	+0.0100%	1h	4.8678	+0.202%	$707K	$648K	3x	as long as short
Aster ORDIUSDT	+0.0100%	4h	4.8590	+0.021%	$5K	$415K	5x	as long as short
Binance ORDIUSDT	+0.0100%	4h	4.8640	+0.124%	$10.0M	$30.9M	50x	as long as short
Bybit ORDIUSDT	+0.0100%	4h	4.8570	−0.021%	$4.1M	$4.2M	50x	as long as short
OKX ORDI-USDT-SWAP	+0.0100%	4h	4.8590	+0.021%	$5.3M	$16.2M	20x	as long as short
Gate ORDI_USDT	+0.0100%	4h	4.8540	−0.082%	$1.2M	$2.7M	50x	as long as short
MEXC ORDI_USDTshort	+0.0100%	4h	4.8640	+0.124%	$7.0M	$3.3M	200x

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ORDIUSDTM	+0.0100%	4h	4.8565	−0.031%	$928K	$826K	50x	as long as short
Bitget ORDIUSDT	+0.0100%	4h	4.8620	+0.082%	$2.9M	$3.0M	50x	as long as short
BingX ORDI-USDC	+0.0100%	4h	4.8560	−0.041%	—	$2.3M	—	as long as short
Variational Omni ORDI	+0.0100%	4h	4.8509	−0.146%	$24K	$56K	—	as long as short
SunX ORDI-USDT	+0.0100%	4h	4.8540	−0.082%	$2K	$1.2M	20x	as long as short
HTX ORDI-USDTlong	+0.0100%	4h	4.8580	long leg	$88K	$362K	75x
Extended ORDI-USD	+0.0104%	1h	4.8631	+0.104%	$5K	$172K	5x	as long as short
GMX ORDI/USD [WBTC.b-USDC]	L +0.0239% / S −0.3359%	1h	4.8576	−0.007%	$8K	—	100x	as long as short
Kraken Futures PF_ORDIUSD	+0.2955%	1h	4.8749	+0.349%	$66K	$42K	25x	as long as short