Funding you earn now, next payment 06:00 UTC−0.0420%/8h= −46.0% APRpaid last 24h −0.018%
Price spread now: Gate against Hyperliquid−0.037%7-day average −0.125% · you buy dearer than you sell
Net, funding: paid 7d − costs−$81as in the Funding arb table
Net, price: spread back to 7d avg − costs−$65as in the Price arb table
costs, in and out, $10k−$740.740% of the position
Funding, last 7 days−0.074%−$7 on $10k
+Price spread, last 4 days (all we have)+0.052%+$5 · spread now −0.037%, 7d avg −0.125%
=Together, before fees−0.022%+ Points / potential airdropHyperliquid: Season 2 · farm board−$2 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Gate is 0.088% dearer against Hyperliquid than usual: you sell high and buy low (spread −0.037% now, against its 7-day average of −0.125%): +$9 on $10k if it goes back. Holding the pair costs −$13 a day in funding at the current rate, which eats that in about 17 hours. At the pace of the last 7 days (−0.074% in total) that is about 8.4 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.074% in total (about -3.8% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid ORDI | 4.8598 | 0.0100 | pay 0.0013% / 1h | 43m 27s | $701K | $665K | 3x |
| Short | Gate ORDI_USDT | 4.8580 | −0.0320 | pay 0.0160% / 4h | 2h 43m | $1.3M | $2.7M | 50x |
Hyperliquid ORDI
Gate ORDI_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Gate against Hyperliquid. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$88.2
- Price spread: −0.037% → −0.125%
- $8.81
- Slippage, 4 orders
- −$50.04
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Net
- −$153.43
- Costs to cover
- 0.740%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 37 min ago; Gate: 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 Hyperliquid live order book, 37 min ago | 1.01 bp | 10.8 bp −$11 | doesn't fit | doesn't fit | doesn't fit |
| Sell Gate live order book, 4 min ago | 3.08 bp | 25.7 bp −$26 | 98.5 bp −$985 | 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 | −0.0718% | 1h | 4.8605 | +0.015% | $69K | $47K | 25x | as long as short |
| Gate ORDI_USDTshort | −0.0320% | 4h | 4.8580 | −0.037% | $1.3M | $2.7M | 50x | |
| dYdX ORDI-USD | 0.0000% | 1h | 4.8602 | +0.008% | $33K | $577 | 5x | as long as short |
| Injective ORDI/USDC PERP | +0.0033% | 1h | 4.5550 | −6.272% | $776 | $20K | 5.5x | as long as short |
| BloFin ORDI-USDT | +0.0073% | 4h | 4.8690 | +0.189% | $595K | $298K | 75x | as long as short |
| Hyperliquid ORDIlong | +0.0100% | 1h | 4.8598 | long leg | $701K | $665K | 3x | |
| Aster ORDIUSDT | +0.0100% | 4h | 4.8559 | −0.081% | $7K | $427K | 5x | as long as short |
| Binance ORDIUSDT | +0.0100% | 4h | 4.8497 | −0.208% | $9.9M | $33.9M | 50x | as long as short |
| Bybit ORDIUSDT | +0.0100% | 4h | 4.8450 | −0.305% | $4.1M | $4.7M | 50x | as long as short |
| OKX ORDI-USDT-SWAP | +0.0100% | 4h | 4.8500 | −0.202% | $5.2M | $17.6M | 20x | as long as short |
Kraken Futures PF_ORDIUSD
dYdX ORDI-USD
Injective ORDI/USDC PERP
BloFin ORDI-USDT
Aster ORDIUSDT
Binance ORDIUSDT
Bybit ORDIUSDT
OKX ORDI-USDT-SWAPShow all 19 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC ORDI_USDT | +0.0100% | 4h | 4.8550 | −0.099% | $6.5M | $3.3M | 200x | as long as short |
| KuCoin ORDIUSDTM | +0.0100% | 4h | 4.8532 | −0.136% | $968K | $821K | 50x | as long as short |
| Bitget ORDIUSDT | +0.0100% | 4h | 4.8530 | −0.140% | $2.8M | $3.5M | 50x | as long as short |
| BingX ORDI-USDT | +0.0100% | 4h | 4.8490 | −0.222% | — | $26.9M | — | as long as short |
| Variational Omni ORDI | +0.0100% | 4h | 4.8606 | +0.017% | $24K | $42K | — | as long as short |
| SunX ORDI-USDT | +0.0100% | 4h | 4.8550 | −0.099% | $1K | $1.2M | 20x | as long as short |
| HTX ORDI-USDT | +0.0100% | 4h | 4.8640 | +0.086% | $85K | $426K | 75x | as long as short |
| Extended ORDI-USD | +0.0104% | 1h | 4.8590 | −0.017% | $2K | $180K | 5x | as long as short |
| GMX ORDI/USD [WBTC.b-USDC] | L +0.0239% / S −0.3359% | 1h | 4.8497 | −0.207% | $8K | — | 100x | as long as short |
MEXC ORDI_USDT
KuCoin ORDIUSDTM
Bitget ORDIUSDT
BingX ORDI-USDT
Variational Omni ORDI
SunX ORDI-USDT
HTX ORDI-USDT
Extended ORDI-USD
GMX ORDI/USD [WBTC.b-USDC]