Funding arb · Price arb /

ORDI

all ORDI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.2961%/8h= +324.3% APRpaid last 24h +0.193%

Price spread now: Kraken Futures against SunX−0.011%7-day average — · you buy dearer than you sell

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

Long on SunX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.866%−$87 on $10k

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: +$89 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.866%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.866% in total (about -45.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX ORDI-USDT	4.8860	0.0100	pay 0.0050% / 4h	2h 04m	$2K	$1.2M	20x
Short	Kraken Futures PF_ORDIUSD	4.8854	0.3061	get 0.0383% / 1h	4m 48s	$72K	$46K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against SunX. 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 SunXbpFee Kraken FuturesbpOrdersPrice spread, now −0.011%Rate

Funding earned: $621.86
Price spread: −0.011% → 0.000%: −$1.14
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $602.72
Costs to cover: 0.180%
Break-even: 0.2 days

Slippage unknown: SunX: live order book, 9 min ago; Kraken Futures: 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 SunX live order book, 9 min ago	14.36 bp	95.6 bp −$96	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures no order-book sample	—	—	—	—	—

Kraken Futures: 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	−0.010%	$34K	$651	5x	as long as short
Injective ORDI/USDC PERP	+0.0033%	1h	4.5550	−6.774%	$776	$20K	5.5x	as long as short
Aster ORDIUSDT	+0.0100%	4h	4.8908	+0.098%	$13K	$426K	5x	as long as short
Binance ORDIUSDT	+0.0100%	4h	4.8955	+0.193%	$10.0M	$33.1M	50x	as long as short
Bybit ORDIUSDT	+0.0100%	4h	4.8870	+0.020%	$4.2M	$4.6M	50x	as long as short
OKX ORDI-USDT-SWAP	+0.0100%	4h	4.8950	+0.184%	$5.3M	$17.5M	20x	as long as short
Gate ORDI_USDT	+0.0100%	4h	4.8910	+0.102%	$1.3M	$2.7M	50x	as long as short
MEXC ORDI_USDT	+0.0100%	4h	4.8920	+0.123%	$7.0M	$3.5M	200x	as long as short
KuCoin ORDIUSDTM	+0.0100%	4h	4.8872	+0.025%	$933K	$872K	50x	as long as short
Bitget ORDIUSDT	+0.0100%	4h	4.8930	+0.143%	$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-USDT	+0.0100%	4h	4.8900	+0.082%	—	$27.2M	—	as long as short
Variational Omni ORDI	+0.0100%	4h	4.8861	+0.003%	$24K	$55K	—	as long as short
SunX ORDI-USDTlong	+0.0100%	4h	4.8860	long leg	$2K	$1.2M	20x
HTX ORDI-USDT	+0.0100%	4h	4.8870	+0.020%	$79K	$382K	75x	as long as short
Extended ORDI-USD	+0.0104%	1h	4.8907	+0.097%	$3K	$194K	5x	as long as short
Hyperliquid ORDI	+0.0163%	1h	4.9041	+0.370%	$707K	$660K	3x	as long as short
GMX ORDI/USD [WBTC.b-USDC]	L +0.0239% / S −0.3359%	1h	4.8897	+0.076%	$8K	—	100x	as long as short
Kraken Futures PF_ORDIUSDshort	+0.3061%	1h	4.8854	−0.011%	$72K	$46K	25x