Funding arb · Price arb /

ORDI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0454%/8h= −49.7% APRpaid last 24h +0.021%

Price spread now: Gate against dYdX+0.091%7-day average — · you sell dearer than you buy

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

Long on dYdX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 6 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

The price spread pays, funding is against you. Gate is 0.091% dearer against dYdX than usual: you sell high and buy low (spread +0.091% now, against zero (this spread has no 7-day history yet)): +$9 on $10k if it goes back. Holding the pair costs −$14 a day in funding at the current rate, which eats that in about 16 hours.

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	20m 41s	$34K	$577	5x
Short	Gate ORDI_USDT	4.9270	−0.0454	pay 0.0227% / 4h	3h 20m	$1.3M	$2.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.091%Rate

Funding earned: −$95.34
Price spread: +0.091% → 0.000%: $9.11
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$111.23
Costs to cover: 0.250%
Break-even: never at this rate

Slippage unknown: dYdX: no order-book sample; Gate: live order book, 2 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 Gate live order book, 2 min ago	2.04 bp	24.4 bp −$24	83.0 bp −$830	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
Kraken Futures PF_ORDIUSD	−0.0570%	1h	4.9192	−0.068%	$72K	$43K	25x	as long as short
Gate ORDI_USDTshort	−0.0454%	4h	4.9270	+0.091%	$1.3M	$2.8M	50x
dYdX ORDI-USDlong	0.0000%	1h	4.9225	long leg	$34K	$577	5x
Injective ORDI/USDC PERP	+0.0033%	1h	4.5550	−7.466%	$776	$20K	5.5x	as long as short
BloFin ORDI-USDT	+0.0068%	4h	4.9250	+0.050%	$604K	$309K	75x	as long as short
Hyperliquid ORDI	+0.0100%	1h	4.9308	+0.168%	$710K	$663K	3x	as long as short
Aster ORDIUSDT	+0.0100%	4h	4.9268	+0.086%	$9K	$426K	5x	as long as short
Binance ORDIUSDT	+0.0100%	4h	4.9269	+0.088%	$10.0M	$33.9M	50x	as long as short
Bybit ORDIUSDT	+0.0100%	4h	4.9280	+0.111%	$4.2M	$4.7M	50x	as long as short
OKX ORDI-USDT-SWAP	+0.0100%	4h	4.9340	+0.233%	$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	4.9260	+0.071%	$6.7M	$3.3M	200x	as long as short
KuCoin ORDIUSDTM	+0.0100%	4h	4.9233	+0.016%	$972K	$844K	50x	as long as short
Bitget ORDIUSDT	+0.0100%	4h	4.9280	+0.111%	$2.9M	$3.5M	50x	as long as short
BingX ORDI-USDT	+0.0100%	4h	4.9250	+0.050%	—	$27.0M	—	as long as short
Variational Omni ORDI	+0.0100%	4h	4.9271	+0.094%	$24K	$42K	—	as long as short
SunX ORDI-USDT	+0.0100%	4h	4.9240	+0.030%	$2K	$1.2M	20x	as long as short
HTX ORDI-USDT	+0.0100%	4h	4.9240	+0.030%	$82K	$411K	75x	as long as short
Extended ORDI-USD	+0.0104%	1h	4.9254	+0.058%	$4K	$180K	5x	as long as short
GMX ORDI/USD [WBTC.b-USDC]	L +0.0240% / S −0.3359%	1h	4.9310	+0.171%	$8K	—	100x	as long as short