ORDI

Alert

Funding spread now, next payment 18:00 UTC−0.0095%/8h

next payment, per $10,000−$0.12paid, last 24h+0.066%paid, last 4 days+0.092%to open and closeno order book

Long on Kraken Futures Short on Hyperliquid

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_ORDIUSD	4.8938	0.0195	pay 0.0024% / 1h	11m 57s	$65K	$35K	25x
Short	Hyperliquid ORDI	4.8958	0.0100	get 0.0013% / 1h	11m 57s	$909K	$536K	3x

Funding history

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee Kraken FuturesbpFee HyperliquidbpOrdersRate

Funding earned: −$19.99
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$38.99
Break-even: never at this rate

Slippage unknown: Kraken Futures: no order-book sample; Hyperliquid: live order book, 60 min ago. Net counts fees only.

Price risk

price view

Price gap now: +0.041%
Avg gap 7d: —

A gap far from its average can cost days of funding.

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

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 Kraken Futures no order-book sample	—	—	—	—	—
Sell Hyperliquid live order book, 60 min ago	2.39 bp	18.3 bp −$18	doesn't fit	doesn't fit	doesn't fit

Kraken Futures: 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.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Gate ORDI_USDT	−0.0084%	4h	$1.3M	$2.6M	50x	as long as short
dYdX ORDI-USD	0.0000%	1h	$34K	$651	5x	as long as short
Injective ORDI/USDC PERP	+0.0033%	1h	$776	$52K	5.5x	as long as short
BloFin ORDI-USDT	+0.0092%	4h	$647K	$296K	75x	as long as short
Hyperliquid ORDIshort	+0.0100%	1h	$909K	$536K	3x
Aster ORDIUSDT	+0.0100%	4h	$7K	$394K	5x	as long as short
Binance ORDIUSDT	+0.0100%	4h	$10.0M	$28.9M	50x	as long as short
Bybit ORDIUSDT	+0.0100%	4h	$4.1M	$3.7M	50x	as long as short
OKX ORDI-USDT-SWAP	+0.0100%	4h	$5.4M	$15.7M	20x	as long as short
MEXC ORDI_USDT	+0.0100%	4h	$6.6M	$3.2M	200x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
KuCoin ORDIUSDTM	+0.0100%	4h	$889K	$791K	50x	as long as short
Bitget ORDIUSDT	+0.0100%	4h	$2.9M	$2.8M	50x	as long as short
BingX ORDI-USDT	+0.0100%	4h	—	$26.8M	—	as long as short
Variational Omni ORDI	+0.0100%	4h	$24K	$58K	—	as long as short
SunX ORDI-USDT	+0.0100%	4h	$1K	$1.1M	20x	as long as short
HTX ORDI-USDT	+0.0100%	4h	$85K	$341K	75x	as long as short
Extended ORDI-USD	+0.0104%	1h	$5K	$172K	5x	as long as short
Kraken Futures PF_ORDIUSDlong	+0.0195%	1h	$65K	$35K	25x
GMX ORDI/USD [WBTC.b-USDC]	L +0.0239% / S −0.3359%	1h	$8K	—	100x	as long as short