Funding arb · Price arb /

ORDI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: MEXC against Bybit+0.143%7-day average +0.022% · you sell dearer than you buy

Net, funding: paid 7d − costs−$46as in the Funding arb table

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$520.517% of the position

Long on Bybit Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.058%+$6 on $10k

Price spread, last 7 days−0.160%−$16 · spread now +0.143%, 7d avg +0.022%

Together, before fees−0.102%−$10 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: MEXC is 0.121% dearer against Bybit than usual: you sell high and buy low, +$12 on $10k if it goes back to its 7-day average of +0.022%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ORDIUSDT	4.8790	0.0100	pay 0.0050% / 4h	38m 05s	$4.1M	$4.2M	50x
Short	MEXC ORDI_USDT	4.8860	0.0100	get 0.0050% / 4h	38m 05s	$7.1M	$3.3M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.143%Rate

Funding earned: $0
Price spread: +0.143% → +0.022%: $12.11
Slippage, 4 orders: −$40.7
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee MEXC: 0 bp × 2 orders: $0
Net: −$39.59
Costs to cover: 0.517%
Break-even: never at this rate

Slippage from Bybit: live order book, 5 min ago; MEXC: live order book, 5 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, 5 min ago	3.07 bp	19.3 bp −$19	65.5 bp −$655	doesn't fit	doesn't fit
Sell MEXC live order book, 5 min ago	2.04 bp	5.5 bp −$5	9.8 bp −$98	47.3 bp −$4,728	100.1 bp −$50.1K

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-USD	0.0000%	1h	4.8849	+0.120%	$33K	$651	5x	as long as short
Injective ORDI/USDC PERP	+0.0033%	1h	4.5550	−6.641%	$776	$20K	5.5x	as long as short
Hyperliquid ORDI	+0.0100%	1h	4.8908	+0.242%	$710K	$651K	3x	as long as short
Aster ORDIUSDT	+0.0100%	4h	4.8850	+0.123%	$4K	$418K	5x	as long as short
Binance ORDIUSDT	+0.0100%	4h	4.8850	+0.123%	$10.0M	$31.2M	50x	as long as short
Bybit ORDIUSDTlong	+0.0100%	4h	4.8790	long leg	$4.1M	$4.2M	50x
OKX ORDI-USDT-SWAP	+0.0100%	4h	4.8810	+0.041%	$5.3M	$16.5M	20x	as long as short
Gate ORDI_USDT	+0.0100%	4h	4.8820	+0.061%	$1.3M	$2.8M	50x	as long as short
MEXC ORDI_USDTshort	+0.0100%	4h	4.8860	+0.143%	$7.1M	$3.3M	200x
KuCoin ORDIUSDTM	+0.0100%	4h	4.8837	+0.096%	$937K	$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	4.8810	+0.041%	$2.9M	$3.0M	50x	as long as short
BingX ORDI-USDC	+0.0100%	4h	4.8790	0.000%	—	$2.3M	—	as long as short
Variational Omni ORDI	+0.0100%	4h	4.8859	+0.141%	$24K	$56K	—	as long as short
SunX ORDI-USDT	+0.0100%	4h	4.8770	−0.041%	$1K	$1.2M	20x	as long as short
HTX ORDI-USDT	+0.0100%	4h	4.8760	−0.061%	$89K	$355K	75x	as long as short
Extended ORDI-USD	+0.0104%	1h	4.8841	+0.104%	$5K	$172K	5x	as long as short
BloFin ORDI-USDT	+0.0112%	4h	4.8860	+0.143%	$610K	$309K	75x	as long as short
GMX ORDI/USD [WBTC.b-USDC]	L +0.0239% / S −0.3359%	1h	4.8811	+0.043%	$8K	—	100x	as long as short
Kraken Futures PF_ORDIUSD	+0.3025%	1h	4.8983	+0.396%	$66K	$43K	25x	as long as short