Funding arb · Price arb /

ORDI

all ORDI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.3259%/8h= +356.8% APRpaid last 24h +0.432%

Price spread now: GMX against Bitget−0.021%7-day average — · you buy dearer than you sell

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

Long on Bitget 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—needs both histories

Funding pays, the price is against you. GMX is 0.021% cheaper against Bitget than usual: you would sell low and buy high (spread −0.021% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$2 on $10k: about under an hour of funding at the current rate (+$98 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget ORDIUSDT	4.8810	0.0100	pay 0.0050% / 4h	2h 41m	$2.9M	$3.4M	50x
Short	GMX ORDI/USD [WBTC.b-USDC]	4.8800	L +0.0239% / S −0.3359%	get 0.0420% / 1h	41m 16s	$8K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Bitget. 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 BitgetbpFee GMXbpOrdersPrice spread, now −0.021%Rate

Funding earned: $684.29
Price spread: −0.021% → 0.000%: −$2.09
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: $658.2
Costs to cover: 0.240%
Break-even: 0.3 days

Slippage unknown: Bitget: live order book, 1 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 Bitget live order book, 1 min ago	3.07 bp	17.4 bp −$17	45.7 bp −$457	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
dYdX ORDI-USD	0.0000%	1h	4.8878	+0.139%	$34K	$651	5x	as long as short
Injective ORDI/USDC PERP	+0.0033%	1h	4.5550	−6.679%	$776	$20K	5.5x	as long as short
Hyperliquid ORDI	+0.0100%	1h	4.8900	+0.184%	$707K	$662K	3x	as long as short
Aster ORDIUSDT	+0.0100%	4h	4.8900	+0.184%	$8K	$421K	5x	as long as short
Binance ORDIUSDT	+0.0100%	4h	4.8837	+0.055%	$10.0M	$33.1M	50x	as long as short
Bybit ORDIUSDT	+0.0100%	4h	4.8780	−0.061%	$4.2M	$4.6M	50x	as long as short
OKX ORDI-USDT-SWAP	+0.0100%	4h	4.8780	−0.061%	$5.3M	$17.3M	20x	as long as short
Gate ORDI_USDT	+0.0100%	4h	4.8850	+0.082%	$1.3M	$2.7M	50x	as long as short
MEXC ORDI_USDT	+0.0100%	4h	4.8860	+0.102%	$7.1M	$3.5M	200x	as long as short
KuCoin ORDIUSDTM	+0.0100%	4h	4.8853	+0.088%	$911K	$885K	50x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget ORDIUSDTlong	+0.0100%	4h	4.8810	long leg	$2.9M	$3.4M	50x
BingX ORDI-USDC	+0.0100%	4h	4.8840	+0.061%	—	$2.3M	—	as long as short
Variational Omni ORDI	+0.0100%	4h	4.8767	−0.087%	$24K	$56K	—	as long as short
SunX ORDI-USDT	+0.0100%	4h	4.8830	+0.041%	$1K	$1.2M	20x	as long as short
HTX ORDI-USDT	+0.0100%	4h	4.8830	+0.041%	$88K	$355K	75x	as long as short
BloFin ORDI-USDT	+0.0100%	4h	4.9110	+0.615%	$610K	$314K	75x	as long as short
Extended ORDI-USD	+0.0104%	1h	4.8826	+0.033%	$5K	$193K	5x	as long as short
GMX ORDI/USD [WBTC.b-USDC]short	L +0.0239% / S −0.3359%	1h	4.8800	−0.021%	$8K	—	100x
Kraken Futures PF_ORDIUSD	+0.3069%	1h	4.8729	−0.166%	$71K	$49K	25x	as long as short