Funding arb · Price arb /

ORDI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bybit against MEXC+0.021%7-day average −0.024% · you sell dearer than you buy

Net, funding: paid 7d − costs−$60as in the Funding arb table

Net, price: spread back to 7d avg − costs−$50as in the Price arb table

costs, in and out, $10k−$540.544% of the position

Long on MEXC Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.056%−$6 on $10k

Price spread, last 7 days−0.025%−$2 · spread now +0.021%, 7d avg −0.024%

Together, before fees−0.081%−$8 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: Bybit is 0.044% dearer against MEXC than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.024%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC ORDI_USDT	4.8750	0.0100	pay 0.0050% / 4h	1h 37m	$7.0M	$3.3M	200x
Short	Bybit ORDIUSDT	4.8760	0.0100	get 0.0050% / 4h	1h 37m	$4.2M	$4.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.021%Rate

Funding earned: $0
Price spread: +0.021% → −0.024%: $4.42
Slippage, 4 orders: −$43.42
Fee MEXC: 0 bp × 2 orders: $0
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$50
Costs to cover: 0.544%
Break-even: never at this rate

Slippage from MEXC: live order book, 10 min ago; Bybit: live order book, 5 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, 10 min ago	2.05 bp	5.0 bp −$5	18.5 bp −$185	51.0 bp −$5,100	105.7 bp −$52.8K
Sell Bybit live order book, 5 min ago	1.02 bp	20.6 bp −$21	71.3 bp −$713	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	−0.0351%	1h	4.8716	−0.069%	$71K	$46K	25x	as long as short
dYdX ORDI-USD	0.0000%	1h	4.8726	−0.050%	$33K	$651	5x	as long as short
Injective ORDI/USDC PERP	+0.0033%	1h	4.5550	−6.564%	$776	$20K	5.5x	as long as short
BloFin ORDI-USDT	+0.0056%	4h	4.8890	+0.287%	$609K	$305K	75x	as long as short
Aster ORDIUSDT	+0.0100%	4h	4.8735	−0.031%	$12K	$427K	5x	as long as short
Binance ORDIUSDT	+0.0100%	4h	4.8785	+0.071%	$10.1M	$33.3M	50x	as long as short
Bybit ORDIUSDTshort	+0.0100%	4h	4.8760	+0.021%	$4.2M	$4.5M	50x
OKX ORDI-USDT-SWAP	+0.0100%	4h	4.8820	+0.144%	$5.2M	$17.4M	20x	as long as short
Gate ORDI_USDT	+0.0100%	4h	4.8720	−0.062%	$1.3M	$2.7M	50x	as long as short
MEXC ORDI_USDTlong	+0.0100%	4h	4.8750	long leg	$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	4.8702	−0.098%	$949K	$866K	50x	as long as short
Bitget ORDIUSDT	+0.0100%	4h	4.8820	+0.144%	$2.9M	$3.5M	50x	as long as short
BingX ORDI-USDC	+0.0100%	4h	4.8750	0.000%	—	$2.3M	—	as long as short
Variational Omni ORDI	+0.0100%	4h	4.8950	+0.411%	$24K	$55K	—	as long as short
SunX ORDI-USDT	+0.0100%	4h	4.8730	−0.041%	$2K	$1.2M	20x	as long as short
HTX ORDI-USDT	+0.0100%	4h	4.8740	−0.021%	$81K	$390K	75x	as long as short
Extended ORDI-USD	+0.0104%	1h	4.8748	−0.005%	$3K	$195K	5x	as long as short
GMX ORDI/USD [WBTC.b-USDC]	L +0.0239% / S −0.3359%	1h	4.8760	+0.021%	$8K	—	100x	as long as short
Hyperliquid ORDI	+0.0268%	1h	4.8875	+0.256%	$705K	$661K	3x	as long as short