Funding arb · Price arb /

ORDI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0666%/8h= −72.9% APRpaid last 24h +0.212%

Price spread now: Kraken Futures against SunX+0.121%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 Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.761%−$76 on $10k

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. Kraken Futures is 0.121% dearer against SunX than usual: you sell high and buy low (spread +0.121% now, against zero (this spread has no 7-day history yet)): +$12 on $10k if it goes back. Holding the pair costs −$20 a day in funding at the current rate, which eats that in about 15 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX ORDI-USDT	4.9540	0.0100	pay 0.0050% / 4h	3h 43m	$2K	$1.2M	20x
Short	Kraken Futures PF_ORDIUSD	4.9600	−0.0566	pay 0.0071% / 1h	43m 30s	$73K	$44K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.121%Rate

Funding earned: −$139.81
Price spread: +0.121% → 0.000%: $12.09
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$145.72
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 10 min ago; Kraken Futures: 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, 10 min ago	16.07 bp	65.7 bp −$66	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures no order-book sample	—	—	—	—	—

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: 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_ORDIUSDshort	−0.0566%	1h	4.9600	+0.121%	$73K	$44K	25x
dYdX ORDI-USD	0.0000%	1h	4.9610	+0.141%	$34K	$577	5x	as long as short
Injective ORDI/USDC PERP	+0.0033%	1h	4.5550	−8.054%	$776	$20K	5.5x	as long as short
Hyperliquid ORDI	+0.0100%	1h	4.9683	+0.289%	$715K	$661K	3x	as long as short
Aster ORDIUSDT	+0.0100%	4h	4.9661	+0.245%	$11K	$423K	5x	as long as short
Binance ORDIUSDT	+0.0100%	4h	4.9650	+0.222%	$10.1M	$33.7M	50x	as long as short
Bybit ORDIUSDT	+0.0100%	4h	4.9610	+0.141%	$4.2M	$4.6M	50x	as long as short
OKX ORDI-USDT-SWAP	+0.0100%	4h	4.9620	+0.161%	$5.4M	$17.8M	20x	as long as short
Gate ORDI_USDT	+0.0100%	4h	4.9620	+0.161%	$1.3M	$2.7M	50x	as long as short
MEXC ORDI_USDT	+0.0100%	4h	4.9620	+0.161%	$6.9M	$3.3M	200x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ORDIUSDTM	+0.0100%	4h	4.9651	+0.224%	$978K	$854K	50x	as long as short
Bitget ORDIUSDT	+0.0100%	4h	4.9610	+0.141%	$2.9M	$3.5M	50x	as long as short
BingX ORDI-USDT	+0.0100%	4h	4.9640	+0.202%	—	$27.0M	—	as long as short
Variational Omni ORDI	+0.0100%	4h	4.9611	+0.144%	$24K	$42K	—	as long as short
SunX ORDI-USDTlong	+0.0100%	4h	4.9540	long leg	$2K	$1.2M	20x
HTX ORDI-USDT	+0.0100%	4h	4.9570	+0.061%	$83K	$410K	75x	as long as short
Extended ORDI-USD	+0.0104%	1h	4.9621	+0.163%	$3K	$180K	5x	as long as short
BloFin ORDI-USDT	+0.0154%	4h	4.9570	+0.061%	$605K	$310K	75x	as long as short
GMX ORDI/USD [WBTC.b-USDC]	L +0.0240% / S −0.3359%	1h	4.9636	+0.194%	$8K	—	100x	as long as short