Funding arb · Price arb /

ORDI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: Bitget against dYdX−0.031%53s7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on dYdX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Bitget is 0.031% cheaper against dYdX than usual: you would sell low and buy high (spread −0.031% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 25 hours of funding at the current rate (+$3 a day). The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX ORDI-USD	4.9225	0	get 0.0000% / 1h	27m 51s	$34K	$651	5x
Short	Bitget ORDIUSDT	4.9210	0.0100	get 0.0050% / 4h	3h 27m	$2.9M	$3.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against dYdX. 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 dYdXbpFee BitgetbpOrdersPrice spread, now −0.031%Rate

Funding earned: $21
Price spread: −0.031% → 0.000%: −$3.08
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$4.08
Costs to cover: 0.220%
Break-even: 8.4 days

Slippage unknown: dYdX: no order-book sample; Bitget: live order book, 5 min ago. 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 dYdX no order-book sample	—	—	—	—	—
Sell Bitget live order book, 5 min ago	3.06 bp	17.0 bp −$17	32.7 bp −$327	doesn't fit	doesn't fit

dYdX: 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
dYdX ORDI-USDlong	0.0000%	1h	4.9225	long leg	$34K	$651	5x
Injective ORDI/USDC PERP	+0.0033%	1h	4.5550	−7.466%	$776	$20K	5.5x	as long as short
BloFin ORDI-USDT	+0.0083%	4h	4.9180	−0.092%	$605K	$311K	75x	as long as short
Hyperliquid ORDI	+0.0100%	1h	4.9286	+0.124%	$714K	$654K	3x	as long as short
Aster ORDIUSDT	+0.0100%	4h	4.9212	−0.026%	$5K	$421K	5x	as long as short
Binance ORDIUSDT	+0.0100%	4h	4.9220	−0.010%	$10.1M	$31.5M	50x	as long as short
Bybit ORDIUSDT	+0.0100%	4h	4.9190	−0.071%	$4.2M	$4.2M	50x	as long as short
OKX ORDI-USDT-SWAP	+0.0100%	4h	4.9200	−0.051%	$5.3M	$16.7M	20x	as long as short
Gate ORDI_USDT	+0.0100%	4h	4.9200	−0.051%	$1.3M	$2.6M	50x	as long as short
MEXC ORDI_USDT	+0.0100%	4h	4.9230	+0.010%	$7.2M	$3.3M	200x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ORDIUSDTM	+0.0100%	4h	4.9224	−0.002%	$957K	$804K	50x	as long as short
Bitget ORDIUSDTshort	+0.0100%	4h	4.9210	−0.031%	$2.9M	$3.0M	50x
BingX ORDI-USDC	+0.0100%	4h	4.9170	−0.112%	—	$2.3M	—	as long as short
Variational Omni ORDI	+0.0100%	4h	4.9062	−0.331%	$24K	$56K	—	as long as short
SunX ORDI-USDT	+0.0100%	4h	4.9140	−0.173%	$1K	$1.2M	20x	as long as short
HTX ORDI-USDT	+0.0100%	4h	4.9170	−0.112%	$90K	$347K	75x	as long as short
Extended ORDI-USD	+0.0104%	1h	4.9213	−0.024%	$4K	$230K	5x	as long as short
GMX ORDI/USD [WBTC.b-USDC]	L +0.0239% / S −0.3359%	1h	4.9194	−0.064%	$8K	—	100x	as long as short
Kraken Futures PF_ORDIUSD	+0.2943%	1h	4.9337	+0.228%	$66K	$39K	25x	as long as short