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 0.000%

Price spread now: SunX against KuCoin−0.067%7-day average −0.142% · you buy dearer than you sell

Net, funding: paid 7d − costs−$200as in the Funding arb table

Net, price: spread back to 7d avg − costs−$195as in the Price arb table

costs, in and out, $10k−$2022.023% of the position

Long on KuCoin Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.025%+$2 on $10k

Price spread, last 4 days (all we have)−0.022%−$2 · spread now −0.067%, 7d avg −0.142%

Together, before fees+0.002%$0 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: SunX is 0.074% dearer against KuCoin than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of −0.142%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ORDIUSDTM	4.9043	0.0100	pay 0.0050% / 4h	8m 08s	$978K	$855K	50x
Short	SunX ORDI-USDT	4.9010	0.0100	get 0.0050% / 4h	8m 08s	$1K	$1.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.067%Rate

Funding earned: $0
Price spread: −0.067% → −0.142%: $7.42
Slippage, 4 orders: −$182.35
Fee KuCoin: 6 bp × 2 orders: −$12
Fee SunX: 4 bp × 2 orders: −$8
Net: −$194.92
Costs to cover: 2.023%
Break-even: never at this rate

Slippage from KuCoin: live order book, 41 min ago; SunX: 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 KuCoin live order book, 41 min ago	9.84 bp	43.1 bp −$43	1072.6 bp −$10.7K	doesn't fit	doesn't fit
Sell SunX live order book, 5 min ago	30.70 bp	49.6 bp −$50	doesn't fit	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	−0.0371%	1h	4.9000	−0.089%	$72K	$44K	25x	as long as short
dYdX ORDI-USD	0.0000%	1h	4.9051	+0.016%	$34K	$651	5x	as long as short
Injective ORDI/USDC PERP	+0.0033%	1h	4.5550	−7.122%	$776	$20K	5.5x	as long as short
BloFin ORDI-USDT	+0.0045%	4h	4.9110	+0.137%	$606K	$307K	75x	as long as short
Aster ORDIUSDT	+0.0100%	4h	4.9043	+0.001%	$14K	$428K	5x	as long as short
Binance ORDIUSDT	+0.0100%	4h	4.9030	−0.027%	$10.1M	$33.2M	50x	as long as short
Bybit ORDIUSDT	+0.0100%	4h	4.9000	−0.088%	$4.2M	$4.6M	50x	as long as short
OKX ORDI-USDT-SWAP	+0.0100%	4h	4.9010	−0.067%	$5.3M	$17.4M	20x	as long as short
Gate ORDI_USDT	+0.0100%	4h	4.9010	−0.067%	$1.3M	$2.7M	50x	as long as short
MEXC ORDI_USDT	+0.0100%	4h	4.9050	+0.014%	$6.8M	$3.4M	200x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ORDIUSDTMlong	+0.0100%	4h	4.9043	long leg	$978K	$855K	50x
Bitget ORDIUSDT	+0.0100%	4h	4.9040	−0.006%	$2.9M	$3.5M	50x	as long as short
BingX ORDI-USDT	+0.0100%	4h	4.9020	−0.047%	—	$27.0M	—	as long as short
Variational Omni ORDI	+0.0100%	4h	4.8936	−0.218%	$24K	$49K	—	as long as short
SunX ORDI-USDTshort	+0.0100%	4h	4.9010	−0.067%	$1K	$1.2M	20x
HTX ORDI-USDT	+0.0100%	4h	4.9030	−0.027%	$82K	$409K	75x	as long as short
Extended ORDI-USD	+0.0104%	1h	4.9072	+0.058%	$2K	$183K	5x	as long as short
GMX ORDI/USD [WBTC.b-USDC]	L +0.0240% / S −0.3359%	1h	4.8983	−0.123%	$8K	—	100x	as long as short
Hyperliquid ORDI	+0.0299%	1h	4.9117	+0.151%	$707K	$660K	3x	as long as short