Funding arb · Price arb /

ORDI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.3259%/8h= +356.8% APRpaid last 24h +0.540%

Price spread now: GMX against KuCoin+0.011%7-day average — · you sell dearer than you buy

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

Long on KuCoin Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$98 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ORDIUSDTM	4.8989	0.0100	pay 0.0050% / 4h	3h 05m	$981K	$834K	50x
Short	GMX ORDI/USD [WBTC.b-USDC]	4.8994	L +0.0240% / S −0.3359%	get 0.0420% / 1h	5m 42s	$8K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now +0.011%Rate

Funding earned: $684.29
Price spread: +0.011% → 0.000%: $1.06
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: $661.35
Costs to cover: 0.240%
Break-even: 0.2 days

Slippage unknown: KuCoin: live order book, 39 min ago; GMX: no order-book sample. 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 KuCoin live order book, 39 min ago	11.38 bp	49.6 bp −$50	1057.7 bp −$10.6K	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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	−0.0573%	1h	4.8950	−0.079%	$72K	$43K	25x	as long as short
Gate ORDI_USDT	−0.0548%	4h	4.8930	−0.120%	$1.3M	$2.8M	50x	as long as short
dYdX ORDI-USD	0.0000%	1h	4.8987	−0.005%	$34K	$577	5x	as long as short
Injective ORDI/USDC PERP	+0.0033%	1h	4.5550	−7.020%	$776	$20K	5.5x	as long as short
BloFin ORDI-USDT	+0.0045%	4h	4.8950	−0.080%	$600K	$307K	75x	as long as short
Hyperliquid ORDI	+0.0100%	1h	4.9052	+0.129%	$707K	$664K	3x	as long as short
Aster ORDIUSDT	+0.0100%	4h	4.8990	+0.002%	$5K	$427K	5x	as long as short
Binance ORDIUSDT	+0.0100%	4h	4.8959	−0.062%	$10.0M	$33.9M	50x	as long as short
Bybit ORDIUSDT	+0.0100%	4h	4.8900	−0.182%	$4.1M	$4.7M	50x	as long as short
OKX ORDI-USDT-SWAP	+0.0100%	4h	4.8920	−0.141%	$5.2M	$17.7M	20x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC ORDI_USDT	+0.0100%	4h	4.8960	−0.059%	$6.6M	$3.3M	200x	as long as short
KuCoin ORDIUSDTMlong	+0.0100%	4h	4.8989	long leg	$981K	$834K	50x
Bitget ORDIUSDT	+0.0100%	4h	4.8950	−0.080%	$2.9M	$3.5M	50x	as long as short
BingX ORDI-USDT	+0.0100%	4h	4.8940	−0.100%	—	$27.0M	—	as long as short
Variational Omni ORDI	+0.0100%	4h	4.8946	−0.087%	$24K	$42K	—	as long as short
SunX ORDI-USDT	+0.0100%	4h	4.8950	−0.080%	$2K	$1.2M	20x	as long as short
HTX ORDI-USDT	+0.0100%	4h	4.8990	+0.002%	$82K	$408K	75x	as long as short
Extended ORDI-USD	+0.0104%	1h	4.8943	−0.094%	$4K	$180K	5x	as long as short
GMX ORDI/USD [WBTC.b-USDC]short	L +0.0240% / S −0.3359%	1h	4.8994	+0.011%	$8K	—	100x