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 Bitget+0.062%7-day average −0.003% · you sell dearer than you buy

Net, funding: paid 7d − costs−$46as in the Funding arb table

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$410.408% of the position

Long on Bitget Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.054%−$5 on $10k

Price spread, last 7 days−0.119%−$12 · spread now +0.062%, 7d avg −0.003%

Together, before fees−0.173%−$17 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 0.065% dearer against Bitget than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of −0.003%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget ORDIUSDT	4.8660	0.0100	pay 0.0050% / 4h	35m 08s	$2.8M	$3.5M	50x
Short	MEXC ORDI_USDT	4.8690	0.0100	get 0.0050% / 4h	35m 08s	$6.6M	$3.3M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.062%Rate

Funding earned: $0
Price spread: +0.062% → −0.003%: $6.51
Slippage, 4 orders: −$28.83
Fee Bitget: 6 bp × 2 orders: −$12
Fee MEXC: 0 bp × 2 orders: $0
Net: −$34.33
Costs to cover: 0.408%
Break-even: never at this rate

Slippage from Bitget: live order book, 3 min ago; MEXC: 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 Bitget live order book, 3 min ago	2.05 bp	15.3 bp −$15	28.7 bp −$287	doesn't fit	doesn't fit
Sell MEXC live order book, 2 min ago	2.05 bp	5.4 bp −$5	17.2 bp −$172	53.3 bp −$5,327	105.9 bp −$52.9K

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	−0.0305%	1h	4.8622	−0.078%	$69K	$43K	25x	as long as short
Gate ORDI_USDT	−0.0038%	4h	4.8660	0.000%	$1.2M	$2.7M	50x	as long as short
dYdX ORDI-USD	0.0000%	1h	4.8641	−0.040%	$33K	$577	5x	as long as short
Injective ORDI/USDC PERP	+0.0033%	1h	4.5550	−6.391%	$776	$20K	5.5x	as long as short
BloFin ORDI-USDT	+0.0080%	4h	4.8670	+0.021%	$592K	$302K	75x	as long as short
Hyperliquid ORDI	+0.0100%	1h	4.8750	+0.185%	$704K	$668K	3x	as long as short
Aster ORDIUSDT	+0.0100%	4h	4.8681	+0.042%	$4K	$429K	5x	as long as short
Binance ORDIUSDT	+0.0100%	4h	4.8678	+0.037%	$9.9M	$34.1M	50x	as long as short
Bybit ORDIUSDT	+0.0100%	4h	4.8640	−0.041%	$4.1M	$4.6M	50x	as long as short
OKX ORDI-USDT-SWAP	+0.0100%	4h	4.8670	+0.021%	$5.2M	$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_USDTshort	+0.0100%	4h	4.8690	+0.062%	$6.6M	$3.3M	200x
KuCoin ORDIUSDTM	+0.0100%	4h	4.8654	−0.012%	$999K	$795K	50x	as long as short
Bitget ORDIUSDTlong	+0.0100%	4h	4.8660	long leg	$2.8M	$3.5M	50x
BingX ORDI-USDC	+0.0100%	4h	4.8650	−0.021%	—	$2.3M	—	as long as short
Variational Omni ORDI	+0.0100%	4h	4.8646	−0.030%	$26K	$33K	—	as long as short
SunX ORDI-USDT	+0.0100%	4h	4.8610	−0.103%	$2K	$1.2M	20x	as long as short
HTX ORDI-USDT	+0.0100%	4h	4.8610	−0.103%	$84K	$385K	75x	as long as short
Extended ORDI-USD	+0.0104%	1h	4.8646	−0.029%	$6K	$221K	5x	as long as short
GMX ORDI/USD [WBTC.b-USDC]	L +0.0239% / S −0.3359%	1h	4.8628	−0.065%	$8K	—	100x	as long as short