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: Bitget against Binance+0.033%7-day average 0.000% · you sell dearer than you buy

Net, funding: paid 7d − costs−$53as in the Funding arb table

Net, price: spread back to 7d avg − costs−$56as in the Price arb table

costs, in and out, $10k−$590.589% of the position

Long on Binance Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.055%+$5 on $10k

Price spread, last 7 days−0.017%−$2 · spread now +0.033%, 7d avg 0.000%

Together, before fees+0.037%+$4 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: Bitget is 0.033% dearer against Binance than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of 0.000%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance ORDIUSDT	4.9034	0.0100	pay 0.0050% / 4h	2h 48m	$10.1M	$33.0M	50x
Short	Bitget ORDIUSDT	4.9050	0.0100	get 0.0050% / 4h	2h 48m	$2.9M	$3.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Binance. 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 BinancebpFee BitgetbpOrdersPrice spread, now +0.033%Rate

Funding earned: $0
Price spread: +0.033% → 0.000%: $3.32
Slippage, 4 orders: −$36.89
Fee Binance: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$55.58
Costs to cover: 0.589%
Break-even: never at this rate

Slippage from Binance: live order book, 8 min ago; Bitget: live order book, 4 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 Binance live order book, 8 min ago	1.03 bp	11.0 bp −$11	28.7 bp −$287	doesn't fit	doesn't fit
Sell Bitget live order book, 4 min ago	2.04 bp	18.1 bp −$18	61.5 bp −$615	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
dYdX ORDI-USD	0.0000%	1h	4.9065	+0.063%	$34K	$651	5x	as long as short
Injective ORDI/USDC PERP	+0.0033%	1h	4.5550	−7.105%	$776	$20K	5.5x	as long as short
Hyperliquid ORDI	+0.0100%	1h	4.9082	+0.099%	$710K	$661K	3x	as long as short
Aster ORDIUSDT	+0.0100%	4h	4.9114	+0.165%	$10K	$418K	5x	as long as short
Binance ORDIUSDTlong	+0.0100%	4h	4.9034	long leg	$10.1M	$33.0M	50x
Bybit ORDIUSDT	+0.0100%	4h	4.9010	−0.048%	$4.2M	$4.6M	50x	as long as short
OKX ORDI-USDT-SWAP	+0.0100%	4h	4.9010	−0.048%	$5.3M	$17.4M	20x	as long as short
Gate ORDI_USDT	+0.0100%	4h	4.9040	+0.013%	$1.3M	$2.7M	50x	as long as short
MEXC ORDI_USDT	+0.0100%	4h	4.9000	−0.069%	$7.0M	$3.4M	200x	as long as short
KuCoin ORDIUSDTM	+0.0100%	4h	4.9103	+0.141%	$915K	$886K	50x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget ORDIUSDTshort	+0.0100%	4h	4.9050	+0.033%	$2.9M	$3.4M	50x
BingX ORDI-USDT	+0.0100%	4h	4.9020	−0.028%	—	$27.3M	—	as long as short
Variational Omni ORDI	+0.0100%	4h	4.8997	−0.074%	$24K	$56K	—	as long as short
SunX ORDI-USDT	+0.0100%	4h	4.9000	−0.069%	$1K	$1.2M	20x	as long as short
HTX ORDI-USDT	+0.0100%	4h	4.9090	+0.115%	$89K	$355K	75x	as long as short
BloFin ORDI-USDT	+0.0100%	4h	4.9110	+0.156%	$610K	$314K	75x	as long as short
Extended ORDI-USD	+0.0104%	1h	4.9051	+0.035%	$2K	$189K	5x	as long as short
GMX ORDI/USD [WBTC.b-USDC]	L +0.0239% / S −0.3359%	1h	4.8986	−0.098%	$8K	—	100x	as long as short
Kraken Futures PF_ORDIUSD	+0.3053%	1h	4.8985	−0.099%	$72K	$49K	25x	as long as short