Funding arb · Price arb /

ORDI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: dYdX against Bybit+0.145%7-day average — · you sell dearer than you buy

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

Long on Bybit Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 5 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 pays, funding is against you. dYdX is 0.145% dearer against Bybit than usual: you sell high and buy low (spread +0.145% now, against zero (this spread has no 7-day history yet)): +$15 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 4.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ORDIUSDT	4.9240	0.0100	pay 0.0050% / 4h	3h 24m	$4.2M	$4.2M	50x
Short	dYdX ORDI-USD	4.9312	0	get 0.0000% / 1h	24m 07s	$34K	$651	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against Bybit. 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 BybitbpFee dYdXbpOrdersPrice spread, now +0.145%Rate

Funding earned: −$21
Price spread: +0.145% → 0.000%: $14.54
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$27.46
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 4 min ago; dYdX: 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 Bybit live order book, 4 min ago	1.02 bp	25.8 bp −$26	65.7 bp −$657	doesn't fit	doesn't fit
Sell dYdX no order-book sample	—	—	—	—	—

dYdX: 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 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-USDshort	0.0000%	1h	4.9312	+0.145%	$34K	$651	5x
Injective ORDI/USDC PERP	+0.0033%	1h	4.5550	−7.494%	$776	$20K	5.5x	as long as short
BloFin ORDI-USDT	+0.0042%	4h	4.9300	+0.122%	$604K	$316K	75x	as long as short
Hyperliquid ORDI	+0.0100%	1h	4.9402	+0.329%	$716K	$648K	3x	as long as short
Aster ORDIUSDT	+0.0100%	4h	4.9357	+0.238%	$5K	$421K	5x	as long as short
Binance ORDIUSDT	+0.0100%	4h	4.9298	+0.118%	$10.1M	$31.6M	50x	as long as short
Bybit ORDIUSDTlong	+0.0100%	4h	4.9240	long leg	$4.2M	$4.2M	50x
OKX ORDI-USDT-SWAP	+0.0100%	4h	4.9250	+0.020%	$5.4M	$16.7M	20x	as long as short
Gate ORDI_USDT	+0.0100%	4h	4.9300	+0.122%	$1.3M	$2.6M	50x	as long as short
MEXC ORDI_USDT	+0.0100%	4h	4.9290	+0.102%	$7.2M	$3.4M	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	4.9328	+0.179%	$949K	$809K	50x	as long as short
Bitget ORDIUSDT	+0.0100%	4h	4.9290	+0.102%	$2.9M	$3.1M	50x	as long as short
BingX ORDI-USDT	+0.0100%	4h	4.9290	+0.102%	—	$27.5M	—	as long as short
Variational Omni ORDI	+0.0100%	4h	4.9302	+0.126%	$24K	$56K	—	as long as short
SunX ORDI-USDT	+0.0100%	4h	4.9270	+0.061%	$1K	$1.2M	20x	as long as short
HTX ORDI-USDT	+0.0100%	4h	4.9290	+0.102%	$90K	$348K	75x	as long as short
Extended ORDI-USD	+0.0104%	1h	4.9310	+0.143%	$4K	$220K	5x	as long as short
GMX ORDI/USD [WBTC.b-USDC]	L +0.0239% / S −0.3359%	1h	4.9304	+0.131%	$8K	—	100x	as long as short
Kraken Futures PF_ORDIUSD	+0.2937%	1h	4.9443	+0.413%	$66K	$39K	25x	as long as short