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 OKX−0.084%7-day average — · you buy dearer than you sell

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

Long on OKX 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

Funding pays, the price is against you. GMX is 0.084% cheaper against OKX than usual: you would sell low and buy high (spread −0.084% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$8 on $10k: about 2 hours of funding at the current rate (+$98 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX ORDI-USDT-SWAP	4.8980	0.0100	pay 0.0050% / 4h	2h 03m	$5.3M	$17.5M	20x
Short	GMX ORDI/USD [WBTC.b-USDC]	4.8939	L +0.0239% / S −0.3359%	get 0.0420% / 1h	3m 54s	$8K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now −0.084%Rate

Funding earned: $684.29
Price spread: −0.084% → 0.000%: −$8.44
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: $653.85
Costs to cover: 0.220%
Break-even: 0.3 days

Slippage unknown: OKX: live order book, 5 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 OKX live order book, 5 min ago	1.02 bp	15.3 bp −$15	44.4 bp −$444	doesn't fit	doesn't fit
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 18 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	4.8855	−0.255%	$34K	$651	5x	as long as short
Injective ORDI/USDC PERP	+0.0033%	1h	4.5550	−7.003%	$776	$20K	5.5x	as long as short
Aster ORDIUSDT	+0.0100%	4h	4.9003	+0.047%	$13K	$426K	5x	as long as short
Binance ORDIUSDT	+0.0100%	4h	4.8998	+0.038%	$10.1M	$33.1M	50x	as long as short
Bybit ORDIUSDT	+0.0100%	4h	4.8960	−0.041%	$4.2M	$4.6M	50x	as long as short
OKX ORDI-USDT-SWAPlong	+0.0100%	4h	4.8980	long leg	$5.3M	$17.5M	20x
Gate ORDI_USDT	+0.0100%	4h	4.8970	−0.020%	$1.3M	$2.7M	50x	as long as short
MEXC ORDI_USDT	+0.0100%	4h	4.8990	+0.020%	$7.1M	$3.5M	200x	as long as short
KuCoin ORDIUSDTM	+0.0100%	4h	4.8948	−0.065%	$935K	$867K	50x	as long as short
Bitget ORDIUSDT	+0.0100%	4h	4.8960	−0.041%	$2.9M	$3.5M	50x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX ORDI-USDC	+0.0100%	4h	4.9020	+0.082%	—	$2.3M	—	as long as short
Variational Omni ORDI	+0.0100%	4h	4.8861	−0.242%	$24K	$55K	—	as long as short
SunX ORDI-USDT	+0.0100%	4h	4.8960	−0.041%	$1K	$1.2M	20x	as long as short
HTX ORDI-USDT	+0.0100%	4h	4.8940	−0.082%	$79K	$382K	75x	as long as short
Extended ORDI-USD	+0.0104%	1h	4.8999	+0.038%	$3K	$194K	5x	as long as short
Hyperliquid ORDI	+0.0165%	1h	4.9039	+0.120%	$707K	$660K	3x	as long as short
GMX ORDI/USD [WBTC.b-USDC]short	L +0.0239% / S −0.3359%	1h	4.8939	−0.084%	$8K	—	100x
Kraken Futures PF_ORDIUSD	+0.3059%	1h	4.8892	−0.180%	$72K	$46K	25x	as long as short