Funding you earn now, next payment 08:00 UTC−0.0266%/8h= −29.1% APRnext payment −$1.33 per $10,000 · paid last 24h −0.010%
Price spread now: Gate against Bybit−0.104%7-day average +0.002% · you buy dearer than you sell
Net, funding: paid 7d − costs−$95as in the Funding arb table
Net, price: spread back to 7d avg − costs−$107as in the Price arb table
costs, in and out, $10k−$970.967% of the position
Funding, last 7 days+0.014%+$1 on $10k
+Price spread, last 7 days+0.132%+$13 · spread now −0.104%, 7d avg +0.002%
=Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Gate is 0.106% cheaper against Bybit than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of +0.002%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.014% in total (about 0.7% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.33 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit ORDIUSDT | 4.8200 | 0.0100 | pay 0.0050% / 4h | 2h 26m | $4.1M | $4.8M | 50x |
| Short | Gate ORDI_USDT | 4.8150 | −0.0166 | pay 0.0083% / 4h | 2h 26m | $1.2M | $2.8M | 50x |
Bybit ORDIUSDT
Gate ORDI_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Gate against Bybit. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$55.86
- Price spread: −0.104% → +0.002%
- −$10.62
- Slippage, 4 orders
- −$70.72
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Net
- −$163.21
- Costs to cover
- 0.967%
- Break-even
- never at this rate
Slippage from Bybit: live order book, 1 min ago; Gate: live order book, 1 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, 1 min ago | 3.11 bp | 27.3 bp −$27 | 73.3 bp −$733 | doesn't fit | doesn't fit |
| Sell Gate live order book, 1 min ago | 3.11 bp | 19.4 bp −$19 | 78.3 bp −$783 | doesn't fit | 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 | −0.0725% | 1h | 4.8123 | −0.160% | $68K | $47K | 25x | as long as short |
| Gate ORDI_USDTshort | −0.0166% | 4h | 4.8150 | −0.104% | $1.2M | $2.8M | 50x | |
| dYdX ORDI-USD | 0.0000% | 1h | 4.8122 | −0.162% | $33K | $577 | 5x | as long as short |
| Injective ORDI/USDC PERP | +0.0033% | 1h | 4.5550 | −5.498% | $776 | $20K | 5.5x | as long as short |
| Hyperliquid ORDI | +0.0100% | 1h | 4.8267 | +0.139% | $696K | $667K | 3x | as long as short |
| Aster ORDIUSDT | +0.0100% | 4h | 4.8222 | +0.046% | $7K | $429K | 5x | as long as short |
| Binance ORDIUSDT | +0.0100% | 4h | 4.8222 | +0.046% | $9.8M | $34.3M | 50x | as long as short |
| Bybit ORDIUSDTlong | +0.0100% | 4h | 4.8200 | long leg | $4.1M | $4.8M | 50x | |
| OKX ORDI-USDT-SWAP | +0.0100% | 4h | 4.8220 | +0.041% | $5.2M | $17.9M | 20x | as long as short |
| MEXC ORDI_USDT | +0.0100% | 4h | 4.8190 | −0.021% | $6.4M | $3.3M | 200x | as long as short |
Kraken Futures PF_ORDIUSD
dYdX ORDI-USD
Injective ORDI/USDC PERP
Hyperliquid ORDI
Aster ORDIUSDT
Binance ORDIUSDT
OKX ORDI-USDT-SWAP
MEXC ORDI_USDTShow all 19 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin ORDIUSDTM | +0.0100% | 4h | 4.8158 | −0.087% | $954K | $825K | 50x | as long as short |
| Bitget ORDIUSDT | +0.0100% | 4h | 4.8200 | 0.000% | $2.8M | $3.5M | 50x | as long as short |
| BingX ORDI-USDC | +0.0100% | 4h | 4.8220 | +0.041% | — | $2.3M | — | as long as short |
| Variational Omni ORDI | +0.0100% | 4h | 4.8268 | +0.140% | $24K | $42K | — | as long as short |
| SunX ORDI-USDT | +0.0100% | 4h | 4.8110 | −0.187% | $2K | $1.2M | 20x | as long as short |
| HTX ORDI-USDT | +0.0100% | 4h | 4.8140 | −0.124% | $84K | $441K | 75x | as long as short |
| BloFin ORDI-USDT | +0.0102% | 4h | 4.8190 | −0.021% | $589K | $304K | 75x | as long as short |
| Extended ORDI-USD | +0.0104% | 1h | 4.8186 | −0.030% | $2K | $180K | 5x | as long as short |
| GMX ORDI/USD [WBTC.b-USDC] | L +0.0239% / S −0.3359% | 1h | 4.8166 | −0.071% | $8K | — | 100x | as long as short |
KuCoin ORDIUSDTM
Bitget ORDIUSDT
BingX ORDI-USDC
Variational Omni ORDI
SunX ORDI-USDT
HTX ORDI-USDT
BloFin ORDI-USDT
Extended ORDI-USD
GMX ORDI/USD [WBTC.b-USDC]