Funding arb · Price arb /

ORDI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: dYdX against SunX+0.045%7-day average — · you sell dearer than you buy

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

Long on SunX Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 6 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 pays, funding is against you. dYdX is 0.045% dearer against SunX than usual: you sell high and buy low (spread +0.045% now, against zero (this spread has no 7-day history yet)): +$5 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 36 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX ORDI-USDT	4.8740	0.0100	pay 0.0050% / 4h	10m 21s	$1K	$1.2M	20x
Short	dYdX ORDI-USD	4.8762	0	get 0.0000% / 1h	10m 21s	$33K	$577	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against SunX. 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 SunXbpFee dYdXbpOrdersPrice spread, now +0.045%Rate

Funding earned: −$21
Price spread: +0.045% → 0.000%: $4.55
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$34.45
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 3 min ago; dYdX: 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 SunX live order book, 3 min ago	30.71 bp	79.2 bp −$79	doesn't fit	doesn't fit	doesn't fit
Sell dYdX no order-book sample	—	—	—	—	—

dYdX: 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	−0.0304%	1h	4.8847	+0.220%	$69K	$43K	25x	as long as short
dYdX ORDI-USDshort	0.0000%	1h	4.8762	+0.045%	$33K	$577	5x
Injective ORDI/USDC PERP	+0.0033%	1h	4.5550	−6.545%	$776	$20K	5.5x	as long as short
Gate ORDI_USDT	+0.0038%	4h	4.8850	+0.226%	$1.2M	$2.7M	50x	as long as short
BloFin ORDI-USDT	+0.0041%	4h	4.8790	+0.103%	$593K	$308K	75x	as long as short
Hyperliquid ORDI	+0.0100%	1h	4.8984	+0.501%	$707K	$668K	3x	as long as short
Aster ORDIUSDT	+0.0100%	4h	4.8878	+0.283%	$10K	$347K	5x	as long as short
Binance ORDIUSDT	+0.0100%	4h	4.8930	+0.390%	$10.0M	$33.8M	50x	as long as short
Bybit ORDIUSDT	+0.0100%	4h	4.8820	+0.164%	$4.1M	$4.5M	50x	as long as short
OKX ORDI-USDT-SWAP	+0.0100%	4h	4.8900	+0.328%	$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	4.8930	+0.390%	$6.6M	$3.3M	200x	as long as short
KuCoin ORDIUSDTM	+0.0100%	4h	4.8799	+0.121%	$1.0M	$794K	50x	as long as short
Bitget ORDIUSDT	+0.0100%	4h	4.8900	+0.328%	$2.8M	$3.5M	50x	as long as short
BingX ORDI-USDC	+0.0100%	4h	4.8900	+0.328%	—	$2.3M	—	as long as short
Variational Omni ORDI	+0.0100%	4h	4.8744	+0.008%	$26K	$32K	—	as long as short
SunX ORDI-USDTlong	+0.0100%	4h	4.8740	long leg	$1K	$1.2M	20x
HTX ORDI-USDT	+0.0100%	4h	4.8750	+0.021%	$85K	$338K	75x	as long as short
Extended ORDI-USD	+0.0104%	1h	4.8917	+0.362%	$2K	$222K	5x	as long as short
GMX ORDI/USD [WBTC.b-USDC]	L +0.0239% / S −0.3359%	1h	4.8885	+0.297%	$8K	—	100x	as long as short