Funding arb · Price arb /

ORDI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.3259%/8h= +356.8% APRpaid last 24h +0.654%

Price spread now: GMX against Aster−0.106%7-day average — · you buy dearer than you sell

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

Long on Aster 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—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

Funding pays, the price is against you. GMX is 0.106% cheaper against Aster than usual: you would sell low and buy high (spread −0.106% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$11 on $10k: about 3 hours of funding at the current rate (+$98 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster ORDIUSDT	4.8800	0.0100	pay 0.0050% / 4h	8m 20s	$10K	$347K	5x
Short	GMX ORDI/USD [WBTC.b-USDC]	4.8749	L +0.0239% / S −0.3359%	get 0.0420% / 1h	8m 20s	$8K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Aster. 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 AsterbpFee GMXbpOrdersPrice spread, now −0.106%Rate

Funding earned: $684.29
Price spread: −0.106% → 0.000%: −$10.58
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee GMX: 6 bp × 2 orders: −$12
Net: $653.71
Costs to cover: 0.200%
Break-even: 0.3 days

Slippage unknown: Aster: live order book, 29 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 Aster live order book, 29 min ago	5.13 bp	16.5 bp −$17	doesn't fit	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	−0.0304%	1h	4.8788	−0.025%	$69K	$43K	25x	as long as short
dYdX ORDI-USD	0.0000%	1h	4.8803	+0.005%	$33K	$577	5x	as long as short
Injective ORDI/USDC PERP	+0.0033%	1h	4.5550	−6.660%	$776	$20K	5.5x	as long as short
Gate ORDI_USDT	+0.0048%	4h	4.8760	−0.082%	$1.2M	$2.7M	50x	as long as short
Hyperliquid ORDI	+0.0100%	1h	4.8845	+0.092%	$705K	$667K	3x	as long as short
Aster ORDIUSDTlong	+0.0100%	4h	4.8800	long leg	$10K	$347K	5x
Binance ORDIUSDT	+0.0100%	4h	4.8796	−0.008%	$9.9M	$33.8M	50x	as long as short
Bybit ORDIUSDT	+0.0100%	4h	4.8720	−0.164%	$4.1M	$4.5M	50x	as long as short
OKX ORDI-USDT-SWAP	+0.0100%	4h	4.8750	−0.103%	$5.2M	$17.7M	20x	as long as short
MEXC ORDI_USDT	+0.0100%	4h	4.8780	−0.042%	$6.6M	$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	4.8797	−0.007%	$1.0M	$794K	50x	as long as short
Bitget ORDIUSDT	+0.0100%	4h	4.8750	−0.103%	$2.8M	$3.5M	50x	as long as short
BingX ORDI-USDT	+0.0100%	4h	4.8780	−0.042%	—	$26.9M	—	as long as short
Variational Omni ORDI	+0.0100%	4h	4.8744	−0.115%	$26K	$32K	—	as long as short
SunX ORDI-USDT	+0.0100%	4h	4.8740	−0.123%	$1K	$1.2M	20x	as long as short
HTX ORDI-USDT	+0.0100%	4h	4.8760	−0.082%	$85K	$338K	75x	as long as short
Extended ORDI-USD	+0.0104%	1h	4.8781	−0.040%	$2K	$222K	5x	as long as short
BloFin ORDI-USDT	+0.0115%	4h	4.8880	+0.163%	$594K	$309K	75x	as long as short
GMX ORDI/USD [WBTC.b-USDC]short	L +0.0239% / S −0.3359%	1h	4.8749	−0.106%	$8K	—	100x