Funding arb · Price arb /

ORDI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: SunX against dYdX−0.134%7-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 SunX

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

Funding pays, the price is against you. SunX is 0.134% cheaper against dYdX than usual: you would sell low and buy high (spread −0.134% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$13 on $10k: about 4.5 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX ORDI-USD	4.9346	0	get 0.0000% / 1h	17m 13s	$34K	$577	5x
Short	SunX ORDI-USDT	4.9280	0.0100	get 0.0050% / 4h	3h 17m	$2K	$1.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.134%Rate

Funding earned: $21
Price spread: −0.134% → 0.000%: −$13.4
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$10.4
Costs to cover: 0.180%
Break-even: 10.5 days

Slippage unknown: dYdX: no order-book sample; SunX: live order book, 6 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 SunX live order book, 6 min ago	30.52 bp	49.3 bp −$49	doesn't fit	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	4.9273	−0.147%	$72K	$43K	25x	as long as short
Gate ORDI_USDT	−0.0394%	4h	4.9330	−0.033%	$1.3M	$2.8M	50x	as long as short
dYdX ORDI-USDlong	0.0000%	1h	4.9346	long leg	$34K	$577	5x
Injective ORDI/USDC PERP	+0.0033%	1h	4.5550	−7.693%	$776	$20K	5.5x	as long as short
Hyperliquid ORDI	+0.0100%	1h	4.9407	+0.123%	$712K	$663K	3x	as long as short
Aster ORDIUSDT	+0.0100%	4h	4.9360	+0.028%	$5K	$426K	5x	as long as short
Binance ORDIUSDT	+0.0100%	4h	4.9342	−0.008%	$10.0M	$33.8M	50x	as long as short
Bybit ORDIUSDT	+0.0100%	4h	4.9320	−0.053%	$4.2M	$4.6M	50x	as long as short
OKX ORDI-USDT-SWAP	+0.0100%	4h	4.9310	−0.073%	$5.3M	$17.8M	20x	as long as short
MEXC ORDI_USDT	+0.0100%	4h	4.9330	−0.033%	$6.7M	$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	4.9328	−0.037%	$974K	$834K	50x	as long as short
Bitget ORDIUSDT	+0.0100%	4h	4.9340	−0.012%	$2.9M	$3.5M	50x	as long as short
BingX ORDI-USDT	+0.0100%	4h	4.9350	+0.008%	—	$27.0M	—	as long as short
Variational Omni ORDI	+0.0100%	4h	4.9271	−0.151%	$24K	$42K	—	as long as short
SunX ORDI-USDTshort	+0.0100%	4h	4.9280	−0.134%	$2K	$1.2M	20x
HTX ORDI-USDT	+0.0100%	4h	4.9320	−0.053%	$83K	$412K	75x	as long as short
Extended ORDI-USD	+0.0104%	1h	4.9339	−0.014%	$4K	$180K	5x	as long as short
BloFin ORDI-USDT	+0.0122%	4h	4.9350	+0.008%	$607K	$309K	75x	as long as short
GMX ORDI/USD [WBTC.b-USDC]	L +0.0240% / S −0.3359%	1h	4.9337	−0.018%	$8K	—	100x	as long as short