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: KuCoin against Bybit+0.059%7-day average +0.026% · you sell dearer than you buy

Net, funding: paid 7d − costs−$125as in the Funding arb table

Net, price: spread back to 7d avg − costs−$127as in the Price arb table

costs, in and out, $10k−$1301.301% of the position

Long on Bybit Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.055%+$6 on $10k

Price spread, last 4 days (all we have)+0.067%+$7 · spread now +0.059%, 7d avg +0.026%

Together, before fees+0.123%+$12 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: KuCoin is 0.033% dearer against Bybit than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.026%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ORDIUSDT	4.9200	0.0100	pay 0.0050% / 4h	3h 14m	$4.2M	$4.6M	50x
Short	KuCoin ORDIUSDTM	4.9229	0.0100	get 0.0050% / 4h	3h 14m	$972K	$834K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.059%Rate

Funding earned: $0
Price spread: +0.059% → +0.026%: $3.34
Slippage, 4 orders: −$107.06
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$126.72
Costs to cover: 1.301%
Break-even: never at this rate

Slippage from Bybit: live order book, 4 min ago; KuCoin: live order book, 30 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, 4 min ago	1.01 bp	21.5 bp −$21	71.6 bp −$716	doesn't fit	doesn't fit
Sell KuCoin live order book, 30 min ago	11.38 bp	32.5 bp −$33	580.6 bp −$5,806	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	−0.0571%	1h	4.9178	−0.044%	$72K	$43K	25x	as long as short
Gate ORDI_USDT	−0.0406%	4h	4.9190	−0.020%	$1.3M	$2.8M	50x	as long as short
dYdX ORDI-USD	0.0000%	1h	4.9175	−0.050%	$34K	$577	5x	as long as short
Injective ORDI/USDC PERP	+0.0033%	1h	4.5550	−7.419%	$776	$20K	5.5x	as long as short
BloFin ORDI-USDT	+0.0047%	4h	4.9270	+0.142%	$605K	$309K	75x	as long as short
Hyperliquid ORDI	+0.0100%	1h	4.9276	+0.154%	$710K	$663K	3x	as long as short
Aster ORDIUSDT	+0.0100%	4h	4.9243	+0.087%	$5K	$426K	5x	as long as short
Binance ORDIUSDT	+0.0100%	4h	4.9230	+0.061%	$10.0M	$33.8M	50x	as long as short
Bybit ORDIUSDTlong	+0.0100%	4h	4.9200	long leg	$4.2M	$4.6M	50x
OKX ORDI-USDT-SWAP	+0.0100%	4h	4.9220	+0.041%	$5.3M	$17.8M	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	4.9220	+0.041%	$6.6M	$3.3M	200x	as long as short
KuCoin ORDIUSDTMshort	+0.0100%	4h	4.9229	+0.059%	$972K	$834K	50x
Bitget ORDIUSDT	+0.0100%	4h	4.9250	+0.102%	$2.9M	$3.5M	50x	as long as short
BingX ORDI-USDC	+0.0100%	4h	4.9140	−0.122%	—	$2.3M	—	as long as short
Variational Omni ORDI	+0.0100%	4h	4.9161	−0.078%	$24K	$42K	—	as long as short
SunX ORDI-USDT	+0.0100%	4h	4.9120	−0.163%	$1K	$1.2M	20x	as long as short
HTX ORDI-USDT	+0.0100%	4h	4.9190	−0.020%	$82K	$412K	75x	as long as short
Extended ORDI-USD	+0.0104%	1h	4.9216	+0.032%	$4K	$180K	5x	as long as short
GMX ORDI/USD [WBTC.b-USDC]	L +0.0240% / S −0.3359%	1h	4.9195	−0.011%	$8K	—	100x	as long as short