Funding arb · Price arb /

ORDI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: KuCoin against Bybit+0.071%7-day average +0.028% · you sell dearer than you buy

Net, funding: paid 7d − costs−$114as in the Funding arb table

Net, price: spread back to 7d avg − costs−$114as in the Price arb table

costs, in and out, $10k−$1191.187% of the position

Long on Bybit Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.046%+$5 on $10k

Price spread, last 4 days (all we have)+0.055%+$6 · spread now +0.071%, 7d avg +0.028%

Together, before fees+0.101%+$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: KuCoin is 0.043% dearer against Bybit than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of +0.028%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ORDIUSDT	4.8090	0.0100	pay 0.0050% / 4h	1h 44m	$4.0M	$4.2M	50x
Short	KuCoin ORDIUSDTM	4.8124	0.0100	get 0.0050% / 4h	1h 44m	$1.0M	$744K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.071%Rate

Funding earned: $0
Price spread: +0.071% → +0.028%: $4.28
Slippage, 4 orders: −$95.74
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$114.46
Costs to cover: 1.187%
Break-even: never at this rate

Slippage from Bybit: live order book, 1 min ago; KuCoin: live order book, 3 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 Bybit live order book, 1 min ago	3.12 bp	22.4 bp −$22	73.1 bp −$731	doesn't fit	doesn't fit
Sell KuCoin live order book, 3 min ago	8.31 bp	24.4 bp −$24	550.5 bp −$5,505	doesn't fit	doesn't fit

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	−0.1163%	1h	4.8059	−0.065%	$68K	$42K	25x	as long as short
dYdX ORDI-USD	0.0000%	1h	4.8053	−0.077%	$33K	$577	5x	as long as short
Injective ORDI/USDC PERP	+0.0033%	1h	4.5550	−5.282%	$776	$20K	5.5x	as long as short
BloFin ORDI-USDT	+0.0096%	4h	4.8150	+0.125%	$581K	$284K	75x	as long as short
Hyperliquid ORDI	+0.0100%	1h	4.8164	+0.154%	$695K	$641K	3x	as long as short
Aster ORDIUSDT	+0.0100%	4h	4.8146	+0.116%	$10K	$259K	5x	as long as short
Binance ORDIUSDT	+0.0100%	4h	4.8129	+0.082%	$9.8M	$32.2M	50x	as long as short
Bybit ORDIUSDTlong	+0.0100%	4h	4.8090	long leg	$4.0M	$4.2M	50x
OKX ORDI-USDT-SWAP	+0.0100%	4h	4.8080	−0.021%	$5.0M	$17.2M	20x	as long as short
Gate ORDI_USDT	+0.0100%	4h	4.8090	0.000%	$1.2M	$2.6M	50x	as long as short

Show all 19 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC ORDI_USDT	+0.0100%	4h	4.8130	+0.083%	$6.7M	$2.9M	200x	as long as short
KuCoin ORDIUSDTMshort	+0.0100%	4h	4.8124	+0.071%	$1.0M	$744K	50x
Bitget ORDIUSDT	+0.0100%	4h	4.8110	+0.042%	$2.8M	$3.4M	50x	as long as short
BingX ORDI-USDC	+0.0100%	4h	4.8110	+0.042%	—	$2.3M	—	as long as short
Variational Omni ORDI	+0.0100%	4h	4.8113	+0.047%	$25K	$33K	—	as long as short
SunX ORDI-USDT	+0.0100%	4h	4.8060	−0.062%	$1K	$1.1M	20x	as long as short
HTX ORDI-USDT	+0.0100%	4h	4.8090	0.000%	$83K	$338K	75x	as long as short
Extended ORDI-USD	+0.0104%	1h	4.8115	+0.051%	$4K	$224K	5x	as long as short
GMX ORDI/USD [WBTC.b-USDC]	L +0.0238% / S −0.3359%	1h	4.8117	+0.057%	$8K	—	100x	as long as short