Funding arb · Price arb /

ORDI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: OKX against MEXC−0.041%7-day average −0.002% · you buy dearer than you sell

Net, funding: paid 7d − costs−$39as in the Funding arb table

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$390.386% of the position

Long on MEXC Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.008%−$1 on $10k

Price spread, last 7 days+0.090%+$9 · spread now −0.041%, 7d avg −0.002%

Together, before fees+0.082%+$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: OKX is 0.039% 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	4.8810	0.0100	pay 0.0050% / 4h	18m 22s	$6.6M	$3.3M	200x
Short	OKX ORDI-USDT-SWAP	4.8790	0.0100	get 0.0050% / 4h	18m 22s	$5.2M	$17.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.041%Rate

Funding earned: $0
Price spread: −0.041% → −0.002%: −$3.87
Slippage, 4 orders: −$28.56
Fee MEXC: 0 bp × 2 orders: $0
Fee OKX: 5 bp × 2 orders: −$10
Net: −$42.43
Costs to cover: 0.386%
Break-even: never at this rate

Slippage from MEXC: live order book, 4 min ago; OKX: 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, 4 min ago	2.06 bp	5.7 bp −$6	26.6 bp −$266	58.8 bp −$5,883	111.0 bp −$55.5K
Sell OKX live order book, 5 min ago	2.05 bp	13.7 bp −$14	44.0 bp −$440	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	−0.0304%	1h	4.8786	−0.048%	$69K	$43K	25x	as long as short
Gate ORDI_USDT	−0.0018%	4h	4.8720	−0.184%	$1.2M	$2.7M	50x	as long as short
dYdX ORDI-USD	0.0000%	1h	4.8710	−0.204%	$33K	$577	5x	as long as short
Injective ORDI/USDC PERP	+0.0033%	1h	4.5550	−6.679%	$776	$20K	5.5x	as long as short
Hyperliquid ORDI	+0.0100%	1h	4.8868	+0.119%	$705K	$667K	3x	as long as short
Aster ORDIUSDT	+0.0100%	4h	4.8778	−0.065%	$10K	$386K	5x	as long as short
Binance ORDIUSDT	+0.0100%	4h	4.8815	+0.009%	$9.9M	$33.8M	50x	as long as short
Bybit ORDIUSDT	+0.0100%	4h	4.8790	−0.041%	$4.1M	$4.5M	50x	as long as short
OKX ORDI-USDT-SWAPshort	+0.0100%	4h	4.8790	−0.041%	$5.2M	$17.7M	20x
MEXC ORDI_USDTlong	+0.0100%	4h	4.8810	long leg	$6.6M	$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	4.8800	−0.020%	$1.0M	$794K	50x	as long as short
Bitget ORDIUSDT	+0.0100%	4h	4.8810	0.000%	$2.8M	$3.5M	50x	as long as short
BingX ORDI-USDC	+0.0100%	4h	4.8700	−0.225%	—	$2.3M	—	as long as short
Variational Omni ORDI	+0.0100%	4h	4.8616	−0.396%	$26K	$32K	—	as long as short
SunX ORDI-USDT	+0.0100%	4h	4.8750	−0.123%	$1K	$1.2M	20x	as long as short
HTX ORDI-USDT	+0.0100%	4h	4.8790	−0.041%	$85K	$363K	75x	as long as short
Extended ORDI-USD	+0.0104%	1h	4.8801	−0.018%	$6K	$221K	5x	as long as short
BloFin ORDI-USDT	+0.0118%	4h	4.8840	+0.061%	$595K	$308K	75x	as long as short
GMX ORDI/USD [WBTC.b-USDC]	L +0.0239% / S −0.3359%	1h	4.8787	−0.046%	$8K	—	100x	as long as short