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: Bybit against Binance−0.114%7-day average −0.030% · you buy dearer than you sell

Net, funding: paid 7d − costs−$79as in the Funding arb table

Net, price: spread back to 7d avg − costs−$85as in the Price arb table

costs, in and out, $10k−$770.766% of the position

Long on Binance Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.025%−$3 on $10k

Price spread, last 7 days+0.122%+$12 · spread now −0.114%, 7d avg −0.030%

Together, before fees+0.097%+$10 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: Bybit is 0.084% cheaper against Binance than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of −0.030%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance ORDIUSDT	4.9266	0.0100	pay 0.0050% / 4h	3h 20m	$10.0M	$33.9M	50x
Short	Bybit ORDIUSDT	4.9210	0.0100	get 0.0050% / 4h	3h 20m	$4.2M	$4.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.114%Rate

Funding earned: $0
Price spread: −0.114% → −0.030%: −$8.4
Slippage, 4 orders: −$55.64
Fee Binance: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$85.04
Costs to cover: 0.766%
Break-even: never at this rate

Slippage from Binance: live order book, 6 min ago; Bybit: live order book, 2 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, 6 min ago	1.01 bp	11.7 bp −$12	28.5 bp −$285	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	1.02 bp	26.9 bp −$27	77.9 bp −$779	doesn't fit	doesn't fit

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	−0.0570%	1h	4.9192	−0.151%	$72K	$43K	25x	as long as short
Gate ORDI_USDT	−0.0482%	4h	4.9230	−0.073%	$1.3M	$2.8M	50x	as long as short
dYdX ORDI-USD	0.0000%	1h	4.9266	0.000%	$34K	$577	5x	as long as short
Injective ORDI/USDC PERP	+0.0033%	1h	4.5550	−7.543%	$776	$20K	5.5x	as long as short
BloFin ORDI-USDT	+0.0068%	4h	4.9250	−0.033%	$604K	$309K	75x	as long as short
Hyperliquid ORDI	+0.0100%	1h	4.9307	+0.083%	$710K	$663K	3x	as long as short
Aster ORDIUSDT	+0.0100%	4h	4.9299	+0.066%	$9K	$426K	5x	as long as short
Binance ORDIUSDTlong	+0.0100%	4h	4.9266	long leg	$10.0M	$33.9M	50x
Bybit ORDIUSDTshort	+0.0100%	4h	4.9210	−0.114%	$4.2M	$4.7M	50x
OKX ORDI-USDT-SWAP	+0.0100%	4h	4.9230	−0.073%	$5.3M	$17.8M	20x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC ORDI_USDT	+0.0100%	4h	4.9260	−0.012%	$6.7M	$3.3M	200x	as long as short
KuCoin ORDIUSDTM	+0.0100%	4h	4.9259	−0.014%	$973K	$844K	50x	as long as short
Bitget ORDIUSDT	+0.0100%	4h	4.9270	+0.008%	$2.9M	$3.5M	50x	as long as short
BingX ORDI-USDT	+0.0100%	4h	4.9220	−0.094%	—	$27.0M	—	as long as short
Variational Omni ORDI	+0.0100%	4h	4.9271	+0.011%	$24K	$42K	—	as long as short
SunX ORDI-USDT	+0.0100%	4h	4.9240	−0.053%	$2K	$1.2M	20x	as long as short
HTX ORDI-USDT	+0.0100%	4h	4.9240	−0.053%	$82K	$411K	75x	as long as short
Extended ORDI-USD	+0.0104%	1h	4.9252	−0.029%	$4K	$180K	5x	as long as short
GMX ORDI/USD [WBTC.b-USDC]	L +0.0240% / S −0.3359%	1h	4.9310	+0.088%	$8K	—	100x	as long as short