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: OKX against Bybit+0.123%7-day average +0.024% · you sell dearer than you buy

Net, funding: paid 7d − costs−$75as in the Funding arb table

Net, price: spread back to 7d avg − costs−$67as in the Price arb table

costs, in and out, $10k−$770.770% of the position

Long on Bybit Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.017%+$2 on $10k

Price spread, last 7 days−0.070%−$7 · spread now +0.123%, 7d avg +0.024%

Together, before fees−0.053%−$5 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: OKX is 0.099% dearer against Bybit than usual: you sell high and buy low, +$10 on $10k if it goes back to its 7-day average of +0.024%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ORDIUSDT	4.8920	0.0100	pay 0.0050% / 4h	1h 51m	$4.1M	$4.8M	50x
Short	OKX ORDI-USDT-SWAP	4.8980	0.0100	get 0.0050% / 4h	1h 51m	$5.2M	$18.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.123%Rate

Funding earned: $0
Price spread: +0.123% → +0.024%: $9.87
Slippage, 4 orders: −$55.96
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee OKX: 5 bp × 2 orders: −$10
Net: −$67.09
Costs to cover: 0.770%
Break-even: never at this rate

Slippage from Bybit: live order book, 1 min ago; OKX: 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 Bybit live order book, 1 min ago	3.07 bp	22.5 bp −$22	72.6 bp −$726	doesn't fit	doesn't fit
Sell OKX live order book, 2 min ago	2.04 bp	11.6 bp −$12	44.7 bp −$447	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	−0.0542%	1h	4.8975	+0.113%	$70K	$47K	25x	as long as short
Gate ORDI_USDT	−0.0078%	4h	4.8970	+0.102%	$1.3M	$2.7M	50x	as long as short
dYdX ORDI-USD	0.0000%	1h	4.8922	+0.003%	$34K	$577	5x	as long as short
Injective ORDI/USDC PERP	+0.0033%	1h	4.5550	−6.889%	$776	$20K	5.5x	as long as short
Hyperliquid ORDI	+0.0100%	1h	4.9043	+0.251%	$707K	$667K	3x	as long as short
Aster ORDIUSDT	+0.0100%	4h	4.8970	+0.102%	$3K	$432K	5x	as long as short
Binance ORDIUSDT	+0.0100%	4h	4.8988	+0.138%	$10.0M	$34.7M	50x	as long as short
Bybit ORDIUSDTlong	+0.0100%	4h	4.8920	long leg	$4.1M	$4.8M	50x
OKX ORDI-USDT-SWAPshort	+0.0100%	4h	4.8980	+0.123%	$5.2M	$18.3M	20x
MEXC ORDI_USDT	+0.0100%	4h	4.8960	+0.082%	$6.5M	$3.3M	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	4.8951	+0.063%	$994K	$829K	50x	as long as short
Bitget ORDIUSDT	+0.0100%	4h	4.8950	+0.061%	$2.9M	$3.5M	50x	as long as short
BingX ORDI-USDC	+0.0100%	4h	4.8960	+0.082%	—	$2.3M	—	as long as short
Variational Omni ORDI	+0.0100%	4h	4.9066	+0.299%	$29K	$39K	—	as long as short
SunX ORDI-USDT	+0.0100%	4h	4.8950	+0.061%	$2K	$1.2M	20x	as long as short
HTX ORDI-USDT	+0.0100%	4h	4.8940	+0.041%	$85K	$438K	75x	as long as short
Extended ORDI-USD	+0.0104%	1h	4.8959	+0.080%	$7K	$184K	5x	as long as short
BloFin ORDI-USDT	+0.0145%	4h	4.9010	+0.184%	$600K	$314K	75x	as long as short
GMX ORDI/USD [WBTC.b-USDC]	L +0.0240% / S −0.3359%	1h	4.8987	+0.137%	$8K	—	100x	as long as short