Funding arb · Price arb /

ORDI

all ORDI markets

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: Binance against Bybit+0.183%7-day average +0.031% · you sell dearer than you buy

Net, funding: paid 7d − costs−$75as in the Funding arb table

Net, price: spread back to 7d avg − costs−$62as in the Price arb table

costs, in and out, $10k−$770.775% of the position

Long on Bybit Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.025%+$3 on $10k

Price spread, last 7 days−0.183%−$18 · spread now +0.183%, 7d avg +0.031%

Together, before fees−0.158%−$16 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: Binance is 0.153% dearer against Bybit than usual: you sell high and buy low, +$15 on $10k if it goes back to its 7-day average of +0.031%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ORDIUSDT	4.9100	0.0100	pay 0.0050% / 4h	1h 50m	$4.1M	$4.8M	50x
Short	Binance ORDIUSDT	4.9190	0.0100	get 0.0050% / 4h	1h 50m	$10.1M	$34.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Bybit. 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 BybitbpFee BinancebpOrdersPrice spread, now +0.183%Rate

Funding earned: $0
Price spread: +0.183% → +0.031%: $15.26
Slippage, 4 orders: −$56.49
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Binance: 5 bp × 2 orders: −$10
Net: −$62.23
Costs to cover: 0.775%
Break-even: never at this rate

Slippage from Bybit: live order book, 3 min ago; Binance: live order book, 7 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 Bybit live order book, 3 min ago	3.07 bp	22.5 bp −$22	72.6 bp −$726	doesn't fit	doesn't fit
Sell Binance live order book, 7 min ago	2.04 bp	13.2 bp −$13	24.9 bp −$249	323.8 bp −$32.4K	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
Kraken Futures PF_ORDIUSD	−0.0540%	1h	4.9137	+0.075%	$70K	$47K	25x	as long as short
Gate ORDI_USDT	−0.0070%	4h	4.9100	0.000%	$1.3M	$2.7M	50x	as long as short
dYdX ORDI-USD	0.0000%	1h	4.8999	−0.206%	$34K	$577	5x	as long as short
Injective ORDI/USDC PERP	+0.0033%	1h	4.5550	−7.230%	$776	$20K	5.5x	as long as short
BloFin ORDI-USDT	+0.0044%	4h	4.9050	−0.102%	$602K	$314K	75x	as long as short
Hyperliquid ORDI	+0.0100%	1h	4.9274	+0.354%	$710K	$667K	3x	as long as short
Aster ORDIUSDT	+0.0100%	4h	4.9161	+0.124%	$3K	$432K	5x	as long as short
Binance ORDIUSDTshort	+0.0100%	4h	4.9190	+0.183%	$10.1M	$34.7M	50x
Bybit ORDIUSDTlong	+0.0100%	4h	4.9100	long leg	$4.1M	$4.8M	50x
OKX ORDI-USDT-SWAP	+0.0100%	4h	4.9120	+0.041%	$5.3M	$18.3M	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_USDT	+0.0100%	4h	4.9200	+0.204%	$6.6M	$3.3M	200x	as long as short
KuCoin ORDIUSDTM	+0.0100%	4h	4.9103	+0.006%	$997K	$829K	50x	as long as short
Bitget ORDIUSDT	+0.0100%	4h	4.9200	+0.204%	$2.9M	$3.5M	50x	as long as short
BingX ORDI-USDT	+0.0100%	4h	4.9130	+0.061%	—	$26.9M	—	as long as short
Variational Omni ORDI	+0.0100%	4h	4.8967	−0.271%	$29K	$39K	—	as long as short
SunX ORDI-USDT	+0.0100%	4h	4.9090	−0.020%	$1K	$1.2M	20x	as long as short
HTX ORDI-USDT	+0.0100%	4h	4.9110	+0.020%	$85K	$438K	75x	as long as short
Extended ORDI-USD	+0.0104%	1h	4.9147	+0.096%	$7K	$184K	5x	as long as short
GMX ORDI/USD [WBTC.b-USDC]	L +0.0240% / S −0.3359%	1h	4.9114	+0.029%	$8K	—	100x	as long as short