Funding you earn now, next payment 03:00 UTC−0.0453%/8h= −49.6% APRpaid last 24h +0.229%
Price spread now: Kraken Futures against Bybit−0.023%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.693%−$69 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs −$14 a day on $10k at the current rate, and Kraken Futures is 0.023% cheaper against Bybit than usual: you would sell low and buy high (−$2 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit ORDIUSDT | 4.8480 | 0.0100 | pay 0.0050% / 4h | 1h 03m | $4.2M | $4.6M | 50x |
| Short | Kraken Futures PF_ORDIUSD | 4.8469 | −0.0353 | pay 0.0044% / 1h | 3m 11s | $71K | $45K | 25x |
Bybit ORDIUSDT
Kraken Futures PF_ORDIUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures 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
- −$95.15
- Price spread: −0.023% → 0.000%
- −$2.28
- Slippage, 4 orders
- no order book: not counted
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$118.43
- Costs to cover
- 0.210%
- Break-even
- never at this rate
Slippage unknown: Bybit: live order book, 5 min ago; Kraken Futures: 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, 5 min ago | 2.06 bp | 20.1 bp −$20 | 75.4 bp −$754 | doesn't fit | doesn't fit |
| Sell Kraken Futures no order-book sample | — | — | — | — | — |
Kraken Futures: 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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_ORDIUSDshort | −0.0353% | 1h | 4.8469 | −0.023% | $71K | $45K | 25x | |
| dYdX ORDI-USD | 0.0000% | 1h | 4.8438 | −0.086% | $33K | $651 | 5x | as long as short |
| Injective ORDI/USDC PERP | +0.0033% | 1h | 4.5550 | −6.044% | $776 | $20K | 5.5x | as long as short |
| Aster ORDIUSDT | +0.0100% | 4h | 4.8495 | +0.031% | $14K | $429K | 5x | as long as short |
| Binance ORDIUSDT | +0.0100% | 4h | 4.8518 | +0.078% | $10.0M | $33.7M | 50x | as long as short |
| Bybit ORDIUSDTlong | +0.0100% | 4h | 4.8480 | long leg | $4.2M | $4.6M | 50x | |
| OKX ORDI-USDT-SWAP | +0.0100% | 4h | 4.8480 | 0.000% | $5.2M | $17.4M | 20x | as long as short |
| Gate ORDI_USDT | +0.0100% | 4h | 4.8480 | 0.000% | $1.3M | $2.8M | 50x | as long as short |
| MEXC ORDI_USDT | +0.0100% | 4h | 4.8500 | +0.041% | $6.8M | $3.4M | 200x | as long as short |
| KuCoin ORDIUSDTM | +0.0100% | 4h | 4.8437 | −0.089% | $968K | $880K | 50x | as long as short |
dYdX ORDI-USD
Injective ORDI/USDC PERP
Aster ORDIUSDT
Binance ORDIUSDT
OKX ORDI-USDT-SWAP
Gate ORDI_USDT
MEXC ORDI_USDT
KuCoin ORDIUSDTMShow all 19 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget ORDIUSDT | +0.0100% | 4h | 4.8490 | +0.021% | $2.9M | $3.5M | 50x | as long as short |
| BingX ORDI-USDT | +0.0100% | 4h | 4.8470 | −0.021% | — | $27.0M | — | as long as short |
| Variational Omni ORDI | +0.0100% | 4h | 4.8436 | −0.092% | $24K | $55K | — | as long as short |
| SunX ORDI-USDT | +0.0100% | 4h | 4.8420 | −0.124% | $1K | $1.2M | 20x | as long as short |
| HTX ORDI-USDT | +0.0100% | 4h | 4.8430 | −0.103% | $80K | $395K | 75x | as long as short |
| Extended ORDI-USD | +0.0104% | 1h | 4.8518 | +0.079% | $5K | $190K | 5x | as long as short |
| BloFin ORDI-USDT | +0.0150% | 4h | 4.8500 | +0.041% | $608K | $303K | 75x | as long as short |
| GMX ORDI/USD [WBTC.b-USDC] | L +0.0239% / S −0.3359% | 1h | 4.8478 | −0.004% | $8K | — | 100x | as long as short |
| Hyperliquid ORDI | +0.0290% | 1h | 4.8591 | +0.229% | $699K | $662K | 3x | as long as short |
Bitget ORDIUSDT
BingX ORDI-USDT
Variational Omni ORDI
SunX ORDI-USDT
HTX ORDI-USDT
Extended ORDI-USD
BloFin ORDI-USDT
GMX ORDI/USD [WBTC.b-USDC]
Hyperliquid ORDI