Funding arb · Price arb /

ORDI

all ORDI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.010%

Price spread now: BingX against Gate−0.021%7-day average −0.084% · you buy dearer than you sell

Net, funding: paid 7d − costs−$88as in the Funding arb table

Net, price: spread back to 7d avg − costs−$88as in the Price arb table

costs, in and out, $10k−$950.947% of the position

Long on Gate Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.070%+$7 on $10k

Price spread, last 7 days−0.088%−$9 · spread now −0.021%, 7d avg −0.084%

Together, before fees−0.018%−$2 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: BingX is 0.063% dearer against Gate than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of −0.084%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate ORDI_USDT	4.8710	0.0100	pay 0.0050% / 4h	1h 07m	$1.3M	$2.8M	50x
Short	BingX ORDI-USDC	4.8700	0.0100	get 0.0050% / 4h	1h 07m	—	$2.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Gate. 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 GatebpFee BingXbpOrdersPrice spread, now −0.021%Rate

Funding earned: $0
Price spread: −0.021% → −0.084%: $6.31
Slippage, 4 orders: −$69.73
Fee Gate: 7.5 bp × 2 orders: −$15
Fee BingX: 5 bp × 2 orders: −$10
Net: −$88.42
Costs to cover: 0.947%
Break-even: never at this rate

Slippage from Gate: live order book, 5 min ago; BingX: live order book, 5 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 Gate live order book, 5 min ago	3.08 bp	24.1 bp −$24	169.8 bp −$1,698	doesn't fit	doesn't fit
Sell BingX live order book, 5 min ago	4.11 bp	21.1 bp −$21	99.6 bp −$996	498.9 bp −$49.9K	865.0 bp −$432.5K

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-USD	0.0000%	1h	4.8709	−0.003%	$33K	$651	5x	as long as short
Injective ORDI/USDC PERP	+0.0033%	1h	4.5550	−6.487%	$776	$20K	5.5x	as long as short
BloFin ORDI-USDT	+0.0050%	4h	4.8790	+0.164%	$604K	$309K	75x	as long as short
Hyperliquid ORDI	+0.0100%	1h	4.8803	+0.191%	$709K	$648K	3x	as long as short
Aster ORDIUSDT	+0.0100%	4h	4.8741	+0.064%	$4K	$416K	5x	as long as short
Binance ORDIUSDT	+0.0100%	4h	4.8740	+0.062%	$10.0M	$31.0M	50x	as long as short
Bybit ORDIUSDT	+0.0100%	4h	4.8680	−0.062%	$4.1M	$4.2M	50x	as long as short
OKX ORDI-USDT-SWAP	+0.0100%	4h	4.8700	−0.021%	$5.3M	$16.4M	20x	as long as short
Gate ORDI_USDTlong	+0.0100%	4h	4.8710	long leg	$1.3M	$2.8M	50x
MEXC ORDI_USDT	+0.0100%	4h	4.8740	+0.062%	$7.0M	$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	4.8763	+0.109%	$929K	$827K	50x	as long as short
Bitget ORDIUSDT	+0.0100%	4h	4.8720	+0.021%	$2.9M	$3.0M	50x	as long as short
BingX ORDI-USDCshort	+0.0100%	4h	4.8700	−0.021%	—	$2.3M	—
Variational Omni ORDI	+0.0100%	4h	4.8678	−0.065%	$24K	$56K	—	as long as short
SunX ORDI-USDT	+0.0100%	4h	4.8760	+0.103%	$1K	$1.2M	20x	as long as short
HTX ORDI-USDT	+0.0100%	4h	4.8760	+0.103%	$89K	$362K	75x	as long as short
Extended ORDI-USD	+0.0104%	1h	4.8730	+0.041%	$5K	$172K	5x	as long as short
GMX ORDI/USD [WBTC.b-USDC]	L +0.0239% / S −0.3359%	1h	4.8750	+0.081%	$8K	—	100x	as long as short
Kraken Futures PF_ORDIUSD	+0.2949%	1h	4.8846	+0.279%	$66K	$42K	25x	as long as short