Funding arb · Price arb /

ORDI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: Bitget against dYdX−0.055%7-day average — · you buy dearer than you sell

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

Long on dYdX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 6 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

Funding pays, the price is against you. Bitget is 0.055% cheaper against dYdX than usual: you would sell low and buy high (spread −0.055% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 44 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX ORDI-USD	4.8747	0	get 0.0000% / 1h	42m 20s	$33K	$577	5x
Short	Bitget ORDIUSDT	4.8720	0.0100	get 0.0050% / 4h	3h 42m	$2.8M	$3.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against dYdX. 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 dYdXbpFee BitgetbpOrdersPrice spread, now −0.055%Rate

Funding earned: $21
Price spread: −0.055% → 0.000%: −$5.48
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$6.48
Costs to cover: 0.220%
Break-even: 9.2 days

Slippage unknown: dYdX: no order-book sample; Bitget: live order book, just now. 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 dYdX no order-book sample	—	—	—	—	—
Sell Bitget live order book, just now	3.08 bp	15.3 bp −$15	31.0 bp −$310	doesn't fit	doesn't fit

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
Kraken Futures PF_ORDIUSD	−0.0450%	1h	4.8670	−0.157%	$69K	$43K	25x	as long as short
dYdX ORDI-USDlong	0.0000%	1h	4.8747	long leg	$33K	$577	5x
Injective ORDI/USDC PERP	+0.0033%	1h	4.5550	−6.558%	$776	$20K	5.5x	as long as short
Gate ORDI_USDT	+0.0094%	4h	4.8700	−0.096%	$1.2M	$2.6M	50x	as long as short
Hyperliquid ORDI	+0.0100%	1h	4.8788	+0.085%	$703K	$668K	3x	as long as short
Aster ORDIUSDT	+0.0100%	4h	4.8754	+0.015%	$10K	$347K	5x	as long as short
Binance ORDIUSDT	+0.0100%	4h	4.8738	−0.018%	$9.9M	$33.8M	50x	as long as short
Bybit ORDIUSDT	+0.0100%	4h	4.8710	−0.075%	$4.1M	$4.4M	50x	as long as short
OKX ORDI-USDT-SWAP	+0.0100%	4h	4.8700	−0.096%	$5.2M	$17.8M	20x	as long as short
MEXC ORDI_USDT	+0.0100%	4h	4.8740	−0.014%	$6.6M	$3.2M	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	4.8751	+0.009%	$1.0M	$792K	50x	as long as short
Bitget ORDIUSDTshort	+0.0100%	4h	4.8720	−0.055%	$2.8M	$3.5M	50x
BingX ORDI-USDT	+0.0100%	4h	4.8740	−0.014%	—	$26.9M	—	as long as short
Variational Omni ORDI	+0.0100%	4h	4.8747	+0.001%	$26K	$32K	—	as long as short
SunX ORDI-USDT	+0.0100%	4h	4.8680	−0.137%	$2K	$1.2M	20x	as long as short
HTX ORDI-USDT	+0.0100%	4h	4.8730	−0.034%	$85K	$338K	75x	as long as short
Extended ORDI-USD	+0.0104%	1h	4.8728	−0.039%	$5K	$223K	5x	as long as short
BloFin ORDI-USDT	+0.0146%	4h	4.8750	+0.007%	$591K	$306K	75x	as long as short
GMX ORDI/USD [WBTC.b-USDC]	L +0.0239% / S −0.3359%	1h	4.8701	−0.094%	$8K	—	100x	as long as short