Funding arb · Price arb /

ORDI

all ORDI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: dYdX against Bybit+0.059%7-day average — · you sell dearer than you buy

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

Long on Bybit Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 5 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

The price spread pays, funding is against you. dYdX is 0.059% dearer against Bybit than usual: you sell high and buy low (spread +0.059% now, against zero (this spread has no 7-day history yet)): +$6 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 47 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ORDIUSDT	4.8820	0.0100	pay 0.0050% / 4h	40m 44s	$4.1M	$4.2M	50x
Short	dYdX ORDI-USD	4.8849	0	get 0.0000% / 1h	40m 44s	$33K	$651	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now +0.059%Rate

Funding earned: −$21
Price spread: +0.059% → 0.000%: $5.87
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$36.13
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 2 min ago; dYdX: 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 Bybit live order book, 2 min ago	3.07 bp	19.3 bp −$19	65.5 bp −$655	doesn't fit	doesn't fit
Sell dYdX no order-book sample	—	—	—	—	—

dYdX: 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-USDshort	0.0000%	1h	4.8849	+0.059%	$33K	$651	5x
Injective ORDI/USDC PERP	+0.0033%	1h	4.5550	−6.698%	$776	$20K	5.5x	as long as short
Hyperliquid ORDI	+0.0100%	1h	4.8942	+0.250%	$711K	$651K	3x	as long as short
Aster ORDIUSDT	+0.0100%	4h	4.8850	+0.061%	$4K	$418K	5x	as long as short
Binance ORDIUSDT	+0.0100%	4h	4.8873	+0.108%	$10.0M	$31.2M	50x	as long as short
Bybit ORDIUSDTlong	+0.0100%	4h	4.8820	long leg	$4.1M	$4.2M	50x
OKX ORDI-USDT-SWAP	+0.0100%	4h	4.8810	−0.020%	$5.3M	$16.5M	20x	as long as short
Gate ORDI_USDT	+0.0100%	4h	4.8830	+0.020%	$1.3M	$2.8M	50x	as long as short
MEXC ORDI_USDT	+0.0100%	4h	4.8870	+0.102%	$7.1M	$3.3M	200x	as long as short
KuCoin ORDIUSDTM	+0.0100%	4h	4.8899	+0.162%	$938K	$818K	50x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget ORDIUSDT	+0.0100%	4h	4.8870	+0.102%	$2.9M	$3.0M	50x	as long as short
BingX ORDI-USDT	+0.0100%	4h	4.8830	+0.020%	—	$24.3M	—	as long as short
Variational Omni ORDI	+0.0100%	4h	4.9024	+0.418%	$24K	$56K	—	as long as short
SunX ORDI-USDT	+0.0100%	4h	4.8830	+0.020%	$1K	$1.2M	20x	as long as short
HTX ORDI-USDT	+0.0100%	4h	4.8860	+0.082%	$89K	$355K	75x	as long as short
Extended ORDI-USD	+0.0104%	1h	4.8862	+0.085%	$5K	$172K	5x	as long as short
BloFin ORDI-USDT	+0.0150%	4h	4.8910	+0.184%	$610K	$309K	75x	as long as short
GMX ORDI/USD [WBTC.b-USDC]	L +0.0239% / S −0.3359%	1h	4.8895	+0.154%	$8K	—	100x	as long as short
Kraken Futures PF_ORDIUSD	+0.3022%	1h	4.9031	+0.432%	$66K	$43K	25x	as long as short