Funding arb · Price arb /

ORDI

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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: Gate against KuCoin+0.019%7-day average −0.018% · you sell dearer than you buy

Net, funding: paid 7d − costs−$121as in the Funding arb table

Net, price: spread back to 7d avg − costs−$113as in the Price arb table

costs, in and out, $10k−$1171.167% of the position

Long on KuCoin Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.042%−$4 on $10k

Price spread, last 4 days (all we have)−0.032%−$3 · spread now +0.019%, 7d avg −0.018%

Together, before fees−0.074%−$7 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: Gate is 0.037% dearer against KuCoin than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.018%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ORDIUSDTM	4.8341	0.0100	pay 0.0050% / 4h	36m 22s	$965K	$876K	50x
Short	Gate ORDI_USDT	4.8350	0.0100	get 0.0050% / 4h	36m 22s	$1.2M	$2.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against KuCoin. 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 KuCoinbpFee GatebpOrdersPrice spread, now +0.019%Rate

Funding earned: $0
Price spread: +0.019% → −0.018%: $3.71
Slippage, 4 orders: −$89.71
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$113.01
Costs to cover: 1.167%
Break-even: never at this rate

Slippage from KuCoin: live order book, 13 min ago; Gate: live order book, 1 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 KuCoin live order book, 13 min ago	9.84 bp	43.1 bp −$43	1072.6 bp −$10.7K	doesn't fit	doesn't fit
Sell Gate live order book, 1 min ago	2.07 bp	22.2 bp −$22	77.3 bp −$773	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	−0.0375%	1h	4.8433	+0.191%	$71K	$44K	25x	as long as short
dYdX ORDI-USD	0.0000%	1h	4.8386	+0.094%	$33K	$651	5x	as long as short
Injective ORDI/USDC PERP	+0.0033%	1h	4.5550	−5.774%	$776	$20K	5.5x	as long as short
Aster ORDIUSDT	+0.0100%	4h	4.8362	+0.043%	$14K	$428K	5x	as long as short
Binance ORDIUSDT	+0.0100%	4h	4.8375	+0.071%	$9.9M	$33.7M	50x	as long as short
Bybit ORDIUSDT	+0.0100%	4h	4.8360	+0.039%	$4.1M	$4.6M	50x	as long as short
OKX ORDI-USDT-SWAP	+0.0100%	4h	4.8380	+0.081%	$5.2M	$17.3M	20x	as long as short
Gate ORDI_USDTshort	+0.0100%	4h	4.8350	+0.019%	$1.2M	$2.7M	50x
MEXC ORDI_USDT	+0.0100%	4h	4.8360	+0.039%	$6.8M	$3.4M	200x	as long as short
KuCoin ORDIUSDTMlong	+0.0100%	4h	4.8341	long leg	$965K	$876K	50x

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget ORDIUSDT	+0.0100%	4h	4.8350	+0.019%	$2.9M	$3.5M	50x	as long as short
BingX ORDI-USDT	+0.0100%	4h	4.8360	+0.039%	—	$27.1M	—	as long as short
Variational Omni ORDI	+0.0100%	4h	4.8346	+0.010%	$24K	$55K	—	as long as short
SunX ORDI-USDT	+0.0100%	4h	4.8390	+0.101%	$1K	$1.2M	20x	as long as short
HTX ORDI-USDT	+0.0100%	4h	4.8440	+0.205%	$82K	$402K	75x	as long as short
Extended ORDI-USD	+0.0104%	1h	4.8382	+0.084%	$2K	$188K	5x	as long as short
BloFin ORDI-USDT	+0.0131%	4h	4.8500	+0.329%	$597K	$304K	75x	as long as short
GMX ORDI/USD [WBTC.b-USDC]	L +0.0239% / S −0.3359%	1h	4.8325	−0.033%	$8K	—	100x	as long as short
Hyperliquid ORDI	+0.0511%	1h	4.8447	+0.219%	$697K	$660K	3x	as long as short