Funding arb · Price arb /

ORDI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: MEXC against BingX+0.123%7-day average +0.101% · you sell dearer than you buy

Net, funding: paid 7d − costs−$64as in the Funding arb table

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

costs, in and out, $10k−$580.583% of the position

Long on BingX Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.054%−$5 on $10k

Price spread, last 7 days−0.020%−$2 · spread now +0.123%, 7d avg +0.101%

Together, before fees−0.074%−$7 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: MEXC is 0.022% dearer against BingX than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of +0.101%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX ORDI-USDC	4.8950	0.0100	pay 0.0050% / 4h	1h 22m	—	$2.3M	—
Short	MEXC ORDI_USDT	4.9010	0.0100	get 0.0050% / 4h	1h 22m	$6.5M	$3.3M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against BingX. 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 BingXbpFee MEXCbpOrdersPrice spread, now +0.123%Rate

Funding earned: $0
Price spread: +0.123% → +0.101%: $2.17
Slippage, 4 orders: −$48.3
Fee BingX: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: −$56.12
Costs to cover: 0.583%
Break-even: never at this rate

Slippage from BingX: live order book, 6 min ago; MEXC: live order book, just now.

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 BingX live order book, 6 min ago	1.02 bp	23.8 bp −$24	126.9 bp −$1,269	450.5 bp −$45.0K	534.6 bp −$267.3K
Sell MEXC live order book, just now	1.02 bp	4.7 bp −$5	17.9 bp −$179	51.8 bp −$5,185	101.5 bp −$50.8K

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	−0.0542%	1h	4.8939	−0.023%	$70K	$44K	25x	as long as short
Gate ORDI_USDT	−0.0082%	4h	4.9010	+0.123%	$1.3M	$2.7M	50x	as long as short
dYdX ORDI-USD	0.0000%	1h	4.8986	+0.074%	$34K	$577	5x	as long as short
Injective ORDI/USDC PERP	+0.0033%	1h	4.5550	−6.946%	$776	$20K	5.5x	as long as short
BloFin ORDI-USDT	+0.0058%	4h	4.9030	+0.163%	$596K	$313K	75x	as long as short
Hyperliquid ORDI	+0.0100%	1h	4.9073	+0.251%	$708K	$667K	3x	as long as short
Aster ORDIUSDT	+0.0100%	4h	4.9012	+0.126%	$4K	$423K	5x	as long as short
Binance ORDIUSDT	+0.0100%	4h	4.9012	+0.126%	$10.0M	$34.5M	50x	as long as short
Bybit ORDIUSDT	+0.0100%	4h	4.8950	0.000%	$4.1M	$4.7M	50x	as long as short
OKX ORDI-USDT-SWAP	+0.0100%	4h	4.8960	+0.020%	$5.2M	$18.1M	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_USDTshort	+0.0100%	4h	4.9010	+0.123%	$6.5M	$3.3M	200x
KuCoin ORDIUSDTM	+0.0100%	4h	4.8996	+0.094%	$995K	$820K	50x	as long as short
Bitget ORDIUSDT	+0.0100%	4h	4.8990	+0.082%	$2.8M	$3.6M	50x	as long as short
BingX ORDI-USDClong	+0.0100%	4h	4.8950	long leg	—	$2.3M	—
Variational Omni ORDI	+0.0100%	4h	4.9086	+0.279%	$27K	$42K	—	as long as short
SunX ORDI-USDT	+0.0100%	4h	4.8950	0.000%	$2K	$1.2M	20x	as long as short
HTX ORDI-USDT	+0.0100%	4h	4.8990	+0.082%	$85K	$431K	75x	as long as short
Extended ORDI-USD	+0.0104%	1h	4.8994	+0.090%	$3K	$159K	5x	as long as short
GMX ORDI/USD [WBTC.b-USDC]	L +0.0240% / S −0.3359%	1h	4.8978	+0.056%	$8K	—	100x	as long as short