Funding arb · Price arb /

ORDI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: dYdX against OKX+0.035%7-day average — · you sell dearer than you buy

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

Long on OKX Short on dYdX

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—needs both histories

The price spread pays, funding is against you. dYdX is 0.035% dearer against OKX than usual: you sell high and buy low (spread +0.035% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 28 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX ORDI-USDT-SWAP	4.9040	0.0100	pay 0.0050% / 4h	2h 47m	$5.3M	$17.4M	20x
Short	dYdX ORDI-USD	4.9057	0	get 0.0000% / 1h	47m 49s	$34K	$651	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against OKX. 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 OKXbpFee dYdXbpOrdersPrice spread, now +0.035%Rate

Funding earned: −$21
Price spread: +0.035% → 0.000%: $3.5
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$37.5
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: OKX: live order book, 1 min ago; dYdX: 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 OKX live order book, 1 min ago	2.04 bp	15.3 bp −$15	49.6 bp −$496	doesn't fit	doesn't fit
Sell dYdX no order-book sample	—	—	—	—	—

dYdX: 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-USDshort	0.0000%	1h	4.9057	+0.035%	$34K	$651	5x
Injective ORDI/USDC PERP	+0.0033%	1h	4.5550	−7.117%	$776	$20K	5.5x	as long as short
Hyperliquid ORDI	+0.0100%	1h	4.9137	+0.198%	$711K	$661K	3x	as long as short
Aster ORDIUSDT	+0.0100%	4h	4.9098	+0.118%	$9K	$418K	5x	as long as short
Binance ORDIUSDT	+0.0100%	4h	4.9087	+0.095%	$10.1M	$33.0M	50x	as long as short
Bybit ORDIUSDT	+0.0100%	4h	4.9050	+0.020%	$4.2M	$4.6M	50x	as long as short
OKX ORDI-USDT-SWAPlong	+0.0100%	4h	4.9040	long leg	$5.3M	$17.4M	20x
Gate ORDI_USDT	+0.0100%	4h	4.9090	+0.102%	$1.3M	$2.7M	50x	as long as short
MEXC ORDI_USDT	+0.0100%	4h	4.9070	+0.061%	$7.0M	$3.4M	200x	as long as short
KuCoin ORDIUSDTM	+0.0100%	4h	4.9096	+0.114%	$915K	$886K	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	4.9100	+0.122%	$2.9M	$3.4M	50x	as long as short
BingX ORDI-USDC	+0.0100%	4h	4.9090	+0.102%	—	$2.3M	—	as long as short
Variational Omni ORDI	+0.0100%	4h	4.8997	−0.087%	$24K	$56K	—	as long as short
SunX ORDI-USDT	+0.0100%	4h	4.9000	−0.082%	$1K	$1.2M	20x	as long as short
HTX ORDI-USDT	+0.0100%	4h	4.8990	−0.102%	$89K	$355K	75x	as long as short
BloFin ORDI-USDT	+0.0100%	4h	4.9110	+0.143%	$610K	$314K	75x	as long as short
Extended ORDI-USD	+0.0104%	1h	4.9084	+0.089%	$2K	$189K	5x	as long as short
GMX ORDI/USD [WBTC.b-USDC]	L +0.0239% / S −0.3359%	1h	4.8986	−0.111%	$8K	—	100x	as long as short
Kraken Futures PF_ORDIUSD	+0.3053%	1h	4.8985	−0.112%	$72K	$49K	25x	as long as short