Funding arb · Price arb /

ORDI

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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: HTX against Bybit+0.082%7-day average −0.012% · you sell dearer than you buy

Net, funding: paid 7d − costs−$115as in the Funding arb table

Net, price: spread back to 7d avg − costs−$113as in the Price arb table

costs, in and out, $10k−$1231.228% of the position

Long on Bybit Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.079%+$8 on $10k

Price spread, last 4 days (all we have)−0.138%−$14 · spread now +0.082%, 7d avg −0.012%

Together, before fees−0.059%−$6 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: HTX is 0.095% dearer against Bybit than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of −0.012%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ORDIUSDT	4.8600	0.0100	pay 0.0050% / 4h	2h 44m	$4.1M	$4.7M	50x
Short	HTX ORDI-USDT	4.8640	0.0100	get 0.0050% / 4h	2h 44m	$85K	$426K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.082%Rate

Funding earned: $0
Price spread: +0.082% → −0.012%: $9.47
Slippage, 4 orders: −$99.76
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee HTX: 6 bp × 2 orders: −$12
Net: −$113.29
Costs to cover: 1.228%
Break-even: never at this rate

Slippage from Bybit: live order book, 3 min ago; HTX: 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 Bybit live order book, 3 min ago	2.06 bp	20.4 bp −$20	74.1 bp −$741	doesn't fit	doesn't fit
Sell HTX live order book, 4 min ago	17.43 bp	40.3 bp −$40	doesn't fit	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	−0.0718%	1h	4.8586	−0.029%	$69K	$47K	25x	as long as short
Gate ORDI_USDT	−0.0312%	4h	4.8650	+0.103%	$1.3M	$2.7M	50x	as long as short
dYdX ORDI-USD	0.0000%	1h	4.8646	+0.095%	$33K	$577	5x	as long as short
Injective ORDI/USDC PERP	+0.0033%	1h	4.5550	−6.276%	$776	$20K	5.5x	as long as short
BloFin ORDI-USDT	+0.0073%	4h	4.8690	+0.185%	$595K	$298K	75x	as long as short
Hyperliquid ORDI	+0.0100%	1h	4.8688	+0.181%	$702K	$665K	3x	as long as short
Aster ORDIUSDT	+0.0100%	4h	4.8682	+0.170%	$7K	$427K	5x	as long as short
Binance ORDIUSDT	+0.0100%	4h	4.8667	+0.139%	$9.9M	$33.9M	50x	as long as short
Bybit ORDIUSDTlong	+0.0100%	4h	4.8600	long leg	$4.1M	$4.7M	50x
OKX ORDI-USDT-SWAP	+0.0100%	4h	4.8650	+0.103%	$5.2M	$17.7M	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	4.8670	+0.144%	$6.5M	$3.3M	200x	as long as short
KuCoin ORDIUSDTM	+0.0100%	4h	4.8630	+0.062%	$970K	$821K	50x	as long as short
Bitget ORDIUSDT	+0.0100%	4h	4.8650	+0.103%	$2.8M	$3.5M	50x	as long as short
BingX ORDI-USDC	+0.0100%	4h	4.8680	+0.165%	—	$2.3M	—	as long as short
Variational Omni ORDI	+0.0100%	4h	4.8606	+0.013%	$24K	$42K	—	as long as short
SunX ORDI-USDT	+0.0100%	4h	4.8620	+0.041%	$1K	$1.2M	20x	as long as short
HTX ORDI-USDTshort	+0.0100%	4h	4.8640	+0.082%	$85K	$426K	75x
Extended ORDI-USD	+0.0104%	1h	4.8655	+0.113%	$2K	$180K	5x	as long as short
GMX ORDI/USD [WBTC.b-USDC]	L +0.0239% / S −0.3359%	1h	4.8646	+0.095%	$8K	—	100x	as long as short