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: MEXC against Bitget+0.020%7-day average −0.005% · you sell dearer than you buy

Net, funding: paid 7d − costs−$50as in the Funding arb table

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$440.442% of the position

Long on Bitget Short on MEXC

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−0.032%−$3 · spread now +0.020%, 7d avg −0.005%

Together, before fees−0.087%−$9 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 0.025% dearer against Bitget than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of −0.005%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget ORDIUSDT	4.9640	0.0100	pay 0.0050% / 4h	3h 03m	$2.9M	$3.1M	50x
Short	MEXC ORDI_USDT	4.9650	0.0100	get 0.0050% / 4h	3h 03m	$7.2M	$3.4M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.020%Rate

Funding earned: $0
Price spread: +0.020% → −0.005%: $2.48
Slippage, 4 orders: −$32.16
Fee Bitget: 6 bp × 2 orders: −$12
Fee MEXC: 0 bp × 2 orders: $0
Net: −$41.68
Costs to cover: 0.442%
Break-even: never at this rate

Slippage from Bitget: live order book, 4 min ago; MEXC: 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 Bitget live order book, 4 min ago	3.01 bp	18.1 bp −$18	50.5 bp −$505	doesn't fit	doesn't fit
Sell MEXC live order book, 4 min ago	1.00 bp	4.0 bp −$4	15.6 bp −$156	43.7 bp −$4,371	94.9 bp −$47.5K

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	4.9732	+0.184%	$34K	$651	5x	as long as short
Injective ORDI/USDC PERP	+0.0033%	1h	4.5550	−8.239%	$776	$20K	5.5x	as long as short
Gate ORDI_USDT	+0.0096%	4h	4.9660	+0.040%	$1.3M	$2.7M	50x	as long as short
Hyperliquid ORDI	+0.0100%	1h	4.9821	+0.365%	$721K	$649K	3x	as long as short
Aster ORDIUSDT	+0.0100%	4h	4.9824	+0.371%	$3K	$423K	5x	as long as short
Binance ORDIUSDT	+0.0100%	4h	4.9700	+0.121%	$10.3M	$32.0M	50x	as long as short
Bybit ORDIUSDT	+0.0100%	4h	4.9630	−0.020%	$4.2M	$4.4M	50x	as long as short
OKX ORDI-USDT-SWAP	+0.0100%	4h	4.9660	+0.040%	$5.4M	$17.1M	20x	as long as short
MEXC ORDI_USDTshort	+0.0100%	4h	4.9650	+0.020%	$7.2M	$3.4M	200x
KuCoin ORDIUSDTM	+0.0100%	4h	4.9722	+0.165%	$933K	$825K	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	4.9640	long leg	$2.9M	$3.1M	50x
BingX ORDI-USDC	+0.0100%	4h	4.9780	+0.282%	—	$2.3M	—	as long as short
Variational Omni ORDI	+0.0100%	4h	4.9621	−0.039%	$24K	$56K	—	as long as short
SunX ORDI-USDT	+0.0100%	4h	5.0000	+0.725%	$1K	$1.2M	20x	as long as short
HTX ORDI-USDT	+0.0100%	4h	5.0060	+0.846%	$91K	$351K	75x	as long as short
Extended ORDI-USD	+0.0104%	1h	4.9678	+0.077%	$4K	$192K	5x	as long as short
BloFin ORDI-USDT	+0.0124%	4h	4.9930	+0.584%	$620K	$318K	75x	as long as short
GMX ORDI/USD [WBTC.b-USDC]	L +0.0240% / S −0.3359%	1h	5.0060	+0.846%	$9K	—	100x	as long as short
Kraken Futures PF_ORDIUSD	+0.2895%	1h	5.0153	+1.032%	$66K	$40K	25x	as long as short