Funding arb · Price arb /

ORDI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0449%/8h= +49.2% APRpaid last 24h −0.229%

Price spread now: Aster against Kraken Futures−0.031%7-day average — · you buy dearer than you sell

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

Long on Kraken Futures Short on Aster

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—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

Funding pays, the price is against you. Aster is 0.031% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.031% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 6 hours of funding at the current rate (+$13 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_ORDIUSD	4.8988	−0.0349	get 0.0044% / 1h	35m 56s	$72K	$46K	25x
Short	Aster ORDIUSDT	4.8973	0.0100	get 0.0050% / 4h	1h 35m	$12K	$427K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Kraken Futures. 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 Kraken FuturesbpFee AsterbpOrdersPrice spread, now −0.031%Rate

Funding earned: $94.37
Price spread: −0.031% → 0.000%: −$3.09
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: $73.28
Costs to cover: 0.180%
Break-even: 1.6 days

Slippage unknown: Kraken Futures: no order-book sample; Aster: live order book, 26 min ago. 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 Kraken Futures no order-book sample	—	—	—	—	—
Sell Aster live order book, 26 min ago	7.16 bp	19.6 bp −$20	doesn't fit	doesn't fit	doesn't fit

Kraken Futures: 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
Kraken Futures PF_ORDIUSDlong	−0.0349%	1h	4.8988	long leg	$72K	$46K	25x
dYdX ORDI-USD	0.0000%	1h	4.8770	−0.445%	$33K	$651	5x	as long as short
Injective ORDI/USDC PERP	+0.0033%	1h	4.5550	−7.018%	$776	$20K	5.5x	as long as short
Aster ORDIUSDTshort	+0.0100%	4h	4.8973	−0.031%	$12K	$427K	5x
Binance ORDIUSDT	+0.0100%	4h	4.9000	+0.024%	$10.0M	$33.4M	50x	as long as short
Bybit ORDIUSDT	+0.0100%	4h	4.8970	−0.037%	$4.2M	$4.5M	50x	as long as short
OKX ORDI-USDT-SWAP	+0.0100%	4h	4.8980	−0.017%	$5.3M	$17.5M	20x	as long as short
Gate ORDI_USDT	+0.0100%	4h	4.8920	−0.139%	$1.3M	$2.7M	50x	as long as short
MEXC ORDI_USDT	+0.0100%	4h	4.9020	+0.065%	$7.0M	$3.3M	200x	as long as short
KuCoin ORDIUSDTM	+0.0100%	4h	4.8992	+0.008%	$961K	$869K	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	4.9020	+0.065%	$2.9M	$3.5M	50x	as long as short
BingX ORDI-USDT	+0.0100%	4h	4.8940	−0.098%	—	$27.1M	—	as long as short
Variational Omni ORDI	+0.0100%	4h	4.8955	−0.067%	$24K	$55K	—	as long as short
SunX ORDI-USDT	+0.0100%	4h	4.8850	−0.282%	$1K	$1.2M	20x	as long as short
HTX ORDI-USDT	+0.0100%	4h	4.8850	−0.282%	$81K	$393K	75x	as long as short
Extended ORDI-USD	+0.0104%	1h	4.9016	+0.057%	$3K	$195K	5x	as long as short
BloFin ORDI-USDT	+0.0123%	4h	4.8880	−0.221%	$609K	$304K	75x	as long as short
GMX ORDI/USD [WBTC.b-USDC]	L +0.0239% / S −0.3359%	1h	4.8965	−0.048%	$8K	—	100x	as long as short
Hyperliquid ORDI	+0.0286%	1h	4.9098	+0.224%	$708K	$661K	3x	as long as short