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: MEXC against OKX+0.123%7-day average +0.002% · you sell dearer than you buy

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$390.388% of the position

Long on OKX Short on MEXC

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−0.159%−$16 · spread now +0.123%, 7d avg +0.002%

Together, before fees−0.151%−$15 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: MEXC is 0.121% dearer against OKX than usual: you sell high and buy low, +$12 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	OKX ORDI-USDT-SWAP	4.8940	0.0100	pay 0.0050% / 4h	1h 02m	$5.2M	$17.9M	20x
Short	MEXC ORDI_USDT	4.9000	0.0100	get 0.0050% / 4h	1h 02m	$6.6M	$3.3M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.123%Rate

Funding earned: $0
Price spread: +0.123% → +0.002%: $12.08
Slippage, 4 orders: −$28.76
Fee OKX: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: −$26.68
Costs to cover: 0.388%
Break-even: never at this rate

Slippage from OKX: live order book, just now; MEXC: 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 OKX live order book, just now	3.06 bp	14.0 bp −$14	42.0 bp −$420	doesn't fit	doesn't fit
Sell MEXC live order book, 5 min ago	2.04 bp	5.8 bp −$6	20.3 bp −$203	45.0 bp −$4,499	81.7 bp −$40.9K

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	−0.0542%	1h	4.8955	+0.031%	$70K	$43K	25x	as long as short
Gate ORDI_USDT	−0.0054%	4h	4.8960	+0.041%	$1.2M	$2.7M	50x	as long as short
dYdX ORDI-USD	0.0000%	1h	4.8983	+0.087%	$34K	$577	5x	as long as short
Injective ORDI/USDC PERP	+0.0033%	1h	4.5550	−6.927%	$776	$20K	5.5x	as long as short
BloFin ORDI-USDT	+0.0076%	4h	4.9000	+0.123%	$597K	$306K	75x	as long as short
Hyperliquid ORDI	+0.0100%	1h	4.9056	+0.237%	$709K	$668K	3x	as long as short
Aster ORDIUSDT	+0.0100%	4h	4.9001	+0.125%	$4K	$421K	5x	as long as short
Binance ORDIUSDT	+0.0100%	4h	4.8997	+0.117%	$10.0M	$34.2M	50x	as long as short
Bybit ORDIUSDT	+0.0100%	4h	4.8950	+0.020%	$4.1M	$4.6M	50x	as long as short
OKX ORDI-USDT-SWAPlong	+0.0100%	4h	4.8940	long leg	$5.2M	$17.9M	20x

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC ORDI_USDTshort	+0.0100%	4h	4.9000	+0.123%	$6.6M	$3.3M	200x
KuCoin ORDIUSDTM	+0.0100%	4h	4.8988	+0.098%	$994K	$808K	50x	as long as short
Bitget ORDIUSDT	+0.0100%	4h	4.8990	+0.102%	$2.8M	$3.5M	50x	as long as short
BingX ORDI-USDT	+0.0100%	4h	4.8960	+0.041%	—	$26.9M	—	as long as short
Variational Omni ORDI	+0.0100%	4h	4.8951	+0.023%	$26K	$37K	—	as long as short
SunX ORDI-USDT	+0.0100%	4h	4.8900	−0.082%	$1K	$1.2M	20x	as long as short
HTX ORDI-USDT	+0.0100%	4h	4.9000	+0.123%	$85K	$385K	75x	as long as short
Extended ORDI-USD	+0.0104%	1h	4.8987	+0.096%	$8K	$161K	5x	as long as short
GMX ORDI/USD [WBTC.b-USDC]	L +0.0240% / S −0.3359%	1h	4.8940	+0.001%	$8K	—	100x	as long as short