Funding arb · Price arb /

ORDI

all ORDI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.010%

Price spread now: Bybit against Gate−0.041%7-day average −0.003% · you buy dearer than you sell

Net, funding: paid 7d − costs−$97as in the Funding arb table

Net, price: spread back to 7d avg − costs−$97as in the Price arb table

costs, in and out, $10k−$930.930% of the position

Long on Gate Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.043%−$4 on $10k

Price spread, last 7 days+0.021%+$2 · spread now −0.041%, 7d avg −0.003%

Together, before fees−0.023%−$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: Bybit is 0.038% cheaper against Gate than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.003%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate ORDI_USDT	4.8830	0.0100	pay 0.0050% / 4h	19m 22s	$1.3M	$2.7M	50x
Short	Bybit ORDIUSDT	4.8810	0.0100	get 0.0050% / 4h	19m 22s	$4.2M	$4.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.041%Rate

Funding earned: $0
Price spread: −0.041% → −0.003%: −$3.84
Slippage, 4 orders: −$67.02
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$96.86
Costs to cover: 0.930%
Break-even: never at this rate

Slippage from Gate: live order book, 3 min ago; Bybit: 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 Gate live order book, 3 min ago	3.07 bp	20.7 bp −$21	267.7 bp −$2,677	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	3.07 bp	22.9 bp −$23	73.6 bp −$736	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	−0.0372%	1h	4.8827	−0.006%	$72K	$44K	25x	as long as short
dYdX ORDI-USD	0.0000%	1h	4.8835	+0.011%	$33K	$651	5x	as long as short
Injective ORDI/USDC PERP	+0.0033%	1h	4.5550	−6.717%	$776	$20K	5.5x	as long as short
Aster ORDIUSDT	+0.0100%	4h	4.8827	−0.007%	$14K	$428K	5x	as long as short
Binance ORDIUSDT	+0.0100%	4h	4.8860	+0.061%	$10.0M	$33.6M	50x	as long as short
Bybit ORDIUSDTshort	+0.0100%	4h	4.8810	−0.041%	$4.2M	$4.6M	50x
OKX ORDI-USDT-SWAP	+0.0100%	4h	4.8840	+0.020%	$5.2M	$17.4M	20x	as long as short
Gate ORDI_USDTlong	+0.0100%	4h	4.8830	long leg	$1.3M	$2.7M	50x
MEXC ORDI_USDT	+0.0100%	4h	4.8850	+0.041%	$6.8M	$3.4M	200x	as long as short
KuCoin ORDIUSDTM	+0.0100%	4h	4.8841	+0.023%	$974K	$867K	50x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget ORDIUSDT	+0.0100%	4h	4.8840	+0.020%	$2.9M	$3.5M	50x	as long as short
BingX ORDI-USDC	+0.0100%	4h	4.8850	+0.041%	—	$2.3M	—	as long as short
Variational Omni ORDI	+0.0100%	4h	4.8791	−0.080%	$24K	$53K	—	as long as short
SunX ORDI-USDT	+0.0100%	4h	4.8800	−0.061%	$2K	$1.2M	20x	as long as short
HTX ORDI-USDT	+0.0100%	4h	4.8830	0.000%	$81K	$402K	75x	as long as short
Extended ORDI-USD	+0.0104%	1h	4.8852	+0.046%	$2K	$183K	5x	as long as short
BloFin ORDI-USDT	+0.0119%	4h	4.8870	+0.082%	$598K	$305K	75x	as long as short
GMX ORDI/USD [WBTC.b-USDC]	L +0.0239% / S −0.3359%	1h	4.8807	−0.046%	$8K	—	100x	as long as short
Hyperliquid ORDI	+0.0379%	1h	4.8908	+0.160%	$704K	$660K	3x	as long as short