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: Bitget against MEXC−0.041%7-day average +0.002% · you buy dearer than you sell

Net, funding: paid 7d − costs−$33as in the Funding arb table

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

costs, in and out, $10k−$390.389% of the position

Long on MEXC Short on Bitget

What this pair did over the last

the charts below follow

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

Price spread, last 7 days+0.013%+$1 · spread now −0.041%, 7d avg +0.002%

Together, before fees+0.067%+$7 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: Bitget is 0.043% cheaper against MEXC than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.002%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC ORDI_USDT	4.8600	0.0100	pay 0.0050% / 4h	2h 28m	$7.1M	$3.3M	200x
Short	Bitget ORDIUSDT	4.8580	0.0100	get 0.0050% / 4h	2h 28m	$2.8M	$2.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against MEXC. 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 MEXCbpFee BitgetbpOrdersPrice spread, now −0.041%Rate

Funding earned: $0
Price spread: −0.041% → +0.002%: −$4.33
Slippage, 4 orders: −$26.9
Fee MEXC: 0 bp × 2 orders: $0
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$43.24
Costs to cover: 0.389%
Break-even: never at this rate

Slippage from MEXC: live order book, 4 min ago; Bitget: 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 MEXC live order book, 4 min ago	1.03 bp	4.3 bp −$4	14.3 bp −$143	48.6 bp −$4,865	105.1 bp −$52.6K
Sell Bitget live order book, 4 min ago	3.10 bp	13.3 bp −$13	27.5 bp −$275	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
dYdX ORDI-USD	0.0000%	1h	4.8393	−0.426%	$33K	$651	5x	as long as short
Injective ORDI/USDC PERP	+0.0033%	1h	4.5550	−6.276%	$776	$20K	5.5x	as long as short
Gate ORDI_USDT	+0.0084%	4h	4.8550	−0.103%	$1.3M	$2.7M	50x	as long as short
BloFin ORDI-USDT	+0.0095%	4h	4.8550	−0.103%	$602K	$299K	75x	as long as short
Hyperliquid ORDI	+0.0100%	1h	4.8655	+0.113%	$708K	$644K	3x	as long as short
Aster ORDIUSDT	+0.0100%	4h	4.8605	+0.009%	$4K	$415K	5x	as long as short
Binance ORDIUSDT	+0.0100%	4h	4.8618	+0.038%	$9.9M	$30.7M	50x	as long as short
Bybit ORDIUSDT	+0.0100%	4h	4.8550	−0.103%	$4.1M	$4.2M	50x	as long as short
OKX ORDI-USDT-SWAP	+0.0100%	4h	4.8580	−0.041%	$5.3M	$16.1M	20x	as long as short
MEXC ORDI_USDTlong	+0.0100%	4h	4.8600	long leg	$7.1M	$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	4.8546	−0.111%	$928K	$823K	50x	as long as short
Bitget ORDIUSDTshort	+0.0100%	4h	4.8580	−0.041%	$2.8M	$2.9M	50x
BingX ORDI-USDT	+0.0100%	4h	4.8570	−0.062%	—	$24.5M	—	as long as short
Variational Omni ORDI	+0.0100%	4h	4.8393	−0.426%	$24K	$56K	—	as long as short
SunX ORDI-USDT	+0.0100%	4h	4.8420	−0.370%	$1K	$1.2M	20x	as long as short
HTX ORDI-USDT	+0.0100%	4h	4.8510	−0.185%	$88K	$362K	75x	as long as short
Extended ORDI-USD	+0.0104%	1h	4.8613	+0.026%	$5K	$172K	5x	as long as short
GMX ORDI/USD [WBTC.b-USDC]	L +0.0238% / S −0.3359%	1h	4.8596	−0.009%	$8K	—	100x	as long as short
Kraken Futures PF_ORDIUSD	+0.2494%	1h	4.8792	+0.395%	$66K	$42K	25x	as long as short