Funding arb · Price arb /

ORDI

all ORDI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.3259%/8h= +356.8% APRpaid last 24h +0.432%

Price spread now: GMX against MEXC−0.009%7-day average — · you buy dearer than you sell

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

Long on MEXC Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$98 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC ORDI_USDT	4.9100	0.0100	pay 0.0050% / 4h	2h 43m	$7.1M	$3.5M	200x
Short	GMX ORDI/USD [WBTC.b-USDC]	4.9095	L +0.0239% / S −0.3359%	get 0.0420% / 1h	43m 21s	$8K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now −0.009%Rate

Funding earned: $684.29
Price spread: −0.009% → 0.000%: −$0.94
Slippage, 4 orders: no order book: not counted
Fee MEXC: 0 bp × 2 orders: $0
Fee GMX: 6 bp × 2 orders: −$12
Net: $671.35
Costs to cover: 0.120%
Break-even: 0.1 days

Slippage unknown: MEXC: live order book, 9 min ago; GMX: no order-book sample. 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 MEXC live order book, 9 min ago	1.02 bp	4.1 bp −$4	13.0 bp −$130	52.8 bp −$5,281	98.7 bp −$49.3K
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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
dYdX ORDI-USD	0.0000%	1h	4.9057	−0.087%	$34K	$651	5x	as long as short
Injective ORDI/USDC PERP	+0.0033%	1h	4.5550	−7.230%	$776	$20K	5.5x	as long as short
Hyperliquid ORDI	+0.0100%	1h	4.9151	+0.104%	$711K	$662K	3x	as long as short
Aster ORDIUSDT	+0.0100%	4h	4.9087	−0.026%	$9K	$419K	5x	as long as short
Binance ORDIUSDT	+0.0100%	4h	4.9092	−0.016%	$10.1M	$33.1M	50x	as long as short
Bybit ORDIUSDT	+0.0100%	4h	4.9040	−0.122%	$4.2M	$4.6M	50x	as long as short
OKX ORDI-USDT-SWAP	+0.0100%	4h	4.8940	−0.326%	$5.3M	$17.4M	20x	as long as short
Gate ORDI_USDT	+0.0100%	4h	4.9070	−0.061%	$1.3M	$2.7M	50x	as long as short
MEXC ORDI_USDTlong	+0.0100%	4h	4.9100	long leg	$7.1M	$3.5M	200x
KuCoin ORDIUSDTM	+0.0100%	4h	4.9060	−0.081%	$914K	$885K	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	4.9090	−0.020%	$2.9M	$3.4M	50x	as long as short
BingX ORDI-USDT	+0.0100%	4h	4.9090	−0.020%	—	$27.3M	—	as long as short
Variational Omni ORDI	+0.0100%	4h	4.9012	−0.178%	$24K	$56K	—	as long as short
SunX ORDI-USDT	+0.0100%	4h	4.9000	−0.204%	$2K	$1.2M	20x	as long as short
HTX ORDI-USDT	+0.0100%	4h	4.9030	−0.143%	$89K	$355K	75x	as long as short
BloFin ORDI-USDT	+0.0100%	4h	4.9110	+0.020%	$610K	$314K	75x	as long as short
Extended ORDI-USD	+0.0104%	1h	4.9098	−0.005%	$2K	$189K	5x	as long as short
GMX ORDI/USD [WBTC.b-USDC]short	L +0.0239% / S −0.3359%	1h	4.9095	−0.009%	$8K	—	100x
Kraken Futures PF_ORDIUSD	+0.3052%	1h	4.9000	−0.203%	$72K	$49K	25x	as long as short