Funding arb · Price arb /

ORDI

all ORDI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.3259%/8h= +356.8% APRpaid last 24h +0.768%

Price spread now: GMX against Bitget−0.001%54s7-day average — · you buy dearer than you sell

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

Long on Bitget Short on GMX

What this pair did over the last

the charts below follow

Funding, last 4 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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$98 a day on $10k at the current rate. The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget ORDIUSDT	4.7940	0.0100	pay 0.0050% / 4h	1h 05m	$2.7M	$3.4M	50x
Short	GMX ORDI/USD [WBTC.b-USDC]	4.7939	L +0.0238% / S −0.3359%	get 0.0420% / 1h	5m 31s	$8K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Bitget. 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 BitgetbpFee GMXbpOrdersPrice spread, now −0.001%Rate

Funding earned: $684.29
Price spread: −0.001% → 0.000%: −$0.11
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: $660.18
Costs to cover: 0.240%
Break-even: 0.2 days

Slippage unknown: Bitget: 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 Bitget live order book, 5 min ago	3.13 bp	15.5 bp −$15	31.8 bp −$318	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 19 exchanges

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	−0.1168%	1h	4.7876	−0.134%	$68K	$43K	25x	as long as short
dYdX ORDI-USD	0.0000%	1h	4.7907	−0.069%	$33K	$577	5x	as long as short
Injective ORDI/USDC PERP	+0.0033%	1h	4.5550	−4.985%	$776	$20K	5.5x	as long as short
Hyperliquid ORDI	+0.0100%	1h	4.7970	+0.063%	$692K	$651K	3x	as long as short
Aster ORDIUSDT	+0.0100%	4h	4.7926	−0.030%	$9K	$258K	5x	as long as short
Binance ORDIUSDT	+0.0100%	4h	4.7925	−0.031%	$9.6M	$32.7M	50x	as long as short
Bybit ORDIUSDT	+0.0100%	4h	4.7940	0.000%	$4.0M	$4.3M	50x	as long as short
OKX ORDI-USDT-SWAP	+0.0100%	4h	4.7890	−0.104%	$4.9M	$17.8M	20x	as long as short
Gate ORDI_USDT	+0.0100%	4h	4.7940	0.000%	$1.2M	$2.6M	50x	as long as short
MEXC ORDI_USDT	+0.0100%	4h	4.7910	−0.063%	$6.7M	$3.0M	200x	as long as short

Show all 19 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ORDIUSDTM	+0.0100%	4h	4.7955	+0.031%	$967K	$767K	50x	as long as short
Bitget ORDIUSDTlong	+0.0100%	4h	4.7940	long leg	$2.7M	$3.4M	50x
BingX ORDI-USDT	+0.0100%	4h	4.7950	+0.021%	—	$36.2M	—	as long as short
Variational Omni ORDI	+0.0100%	4h	4.7932	−0.016%	$25K	$33K	—	as long as short
SunX ORDI-USDT	+0.0100%	4h	4.7860	−0.167%	$1K	$1.1M	20x	as long as short
HTX ORDI-USDT	+0.0100%	4h	4.7820	−0.250%	$82K	$353K	75x	as long as short
Extended ORDI-USD	+0.0104%	1h	4.7948	+0.017%	$6K	$223K	5x	as long as short
BloFin ORDI-USDT	+0.0127%	4h	4.7920	−0.042%	$568K	$285K	75x	as long as short
GMX ORDI/USD [WBTC.b-USDC]short	L +0.0238% / S −0.3359%	1h	4.7939	−0.001%	$8K	—	100x