Funding arb · Price arb /

ORDI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: BingX against Binance0.000%7-day average −0.106% · you sell dearer than you buy

Net, funding: paid 7d − costs−$70as in the Funding arb table

Net, price: spread back to 7d avg − costs−$65as in the Price arb table

costs, in and out, $10k−$760.759% of the position

Long on Binance Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.055%+$5 on $10k

Price spread, last 7 days−0.077%−$8 · spread now 0.000%, 7d avg −0.106%

Together, before fees−0.023%−$2 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: BingX is 0.106% dearer against Binance than usual: you sell high and buy low, +$11 on $10k if it goes back to its 7-day average of −0.106%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance ORDIUSDT	4.9010	0.0100	pay 0.0050% / 4h	1h 29m	$10.0M	$33.4M	50x
Short	BingX ORDI-USDC	4.9010	0.0100	get 0.0050% / 4h	1h 29m	—	$2.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Binance. 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 BinancebpFee BingXbpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → −0.106%: $10.57
Slippage, 4 orders: −$55.94
Fee Binance: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$65.36
Costs to cover: 0.759%
Break-even: never at this rate

Slippage from Binance: live order book, 12 min ago; BingX: live order book, 4 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 Binance live order book, 12 min ago	1.02 bp	11.2 bp −$11	26.1 bp −$261	doesn't fit	doesn't fit
Sell BingX live order book, 4 min ago	5.09 bp	22.8 bp −$23	117.7 bp −$1,177	474.4 bp −$47.4K	759.7 bp −$379.8K

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	−0.0350%	1h	4.8942	−0.140%	$72K	$46K	25x	as long as short
dYdX ORDI-USD	0.0000%	1h	4.9036	+0.053%	$34K	$651	5x	as long as short
Injective ORDI/USDC PERP	+0.0033%	1h	4.5550	−7.060%	$776	$20K	5.5x	as long as short
BloFin ORDI-USDT	+0.0076%	4h	4.9000	−0.020%	$610K	$305K	75x	as long as short
Aster ORDIUSDT	+0.0100%	4h	4.9026	+0.033%	$12K	$427K	5x	as long as short
Binance ORDIUSDTlong	+0.0100%	4h	4.9010	long leg	$10.0M	$33.4M	50x
Bybit ORDIUSDT	+0.0100%	4h	4.8970	−0.082%	$4.2M	$4.5M	50x	as long as short
OKX ORDI-USDT-SWAP	+0.0100%	4h	4.8970	−0.082%	$5.3M	$17.5M	20x	as long as short
Gate ORDI_USDT	+0.0100%	4h	4.9030	+0.041%	$1.3M	$2.7M	50x	as long as short
MEXC ORDI_USDT	+0.0100%	4h	4.9000	−0.020%	$7.0M	$3.3M	200x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ORDIUSDTM	+0.0100%	4h	4.9048	+0.078%	$961K	$869K	50x	as long as short
Bitget ORDIUSDT	+0.0100%	4h	4.9040	+0.061%	$2.9M	$3.5M	50x	as long as short
BingX ORDI-USDCshort	+0.0100%	4h	4.9010	0.000%	—	$2.3M	—
Variational Omni ORDI	+0.0100%	4h	4.9130	+0.245%	$24K	$55K	—	as long as short
SunX ORDI-USDT	+0.0100%	4h	4.8990	−0.041%	$989	$1.2M	20x	as long as short
HTX ORDI-USDT	+0.0100%	4h	4.9000	−0.020%	$81K	$393K	75x	as long as short
Extended ORDI-USD	+0.0104%	1h	4.9036	+0.053%	$3K	$189K	5x	as long as short
GMX ORDI/USD [WBTC.b-USDC]	L +0.0239% / S −0.3359%	1h	4.9020	+0.019%	$8K	—	100x	as long as short
Hyperliquid ORDI	+0.0249%	1h	4.9121	+0.226%	$709K	$661K	3x	as long as short