Funding arb · Price arb /

ORDI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.3419%/8h= +374.3% APRpaid last 24h +0.621%

Price spread now: GMX against Gate−0.011%7-day average — · you buy dearer than you sell

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

Long on Gate Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 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 sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$103 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate ORDI_USDT	4.9060	−0.0060	get 0.0030% / 4h	1h 48m	$1.3M	$2.7M	50x
Short	GMX ORDI/USD [WBTC.b-USDC]	4.9055	L +0.0240% / S −0.3359%	get 0.0420% / 1h	48m 49s	$8K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Gate. 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 GatebpFee GMXbpOrdersPrice spread, now −0.011%Rate

Funding earned: $717.89
Price spread: −0.011% → 0.000%: −$1.06
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee GMX: 6 bp × 2 orders: −$12
Net: $689.83
Costs to cover: 0.270%
Break-even: 0.3 days

Slippage unknown: Gate: live order book, 4 min ago; GMX: no order-book sample. 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 Gate live order book, 4 min ago	4.09 bp	19.7 bp −$20	125.5 bp −$1,255	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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	−0.0541%	1h	4.9034	−0.052%	$70K	$47K	25x	as long as short
Gate ORDI_USDTlong	−0.0060%	4h	4.9060	long leg	$1.3M	$2.7M	50x
dYdX ORDI-USD	0.0000%	1h	4.9083	+0.047%	$34K	$577	5x	as long as short
Injective ORDI/USDC PERP	+0.0033%	1h	4.5550	−7.155%	$776	$20K	5.5x	as long as short
BloFin ORDI-USDT	+0.0073%	4h	4.9110	+0.102%	$603K	$315K	75x	as long as short
Hyperliquid ORDI	+0.0100%	1h	4.9159	+0.202%	$709K	$667K	3x	as long as short
Aster ORDIUSDT	+0.0100%	4h	4.9090	+0.061%	$3K	$432K	5x	as long as short
Binance ORDIUSDT	+0.0100%	4h	4.9101	+0.083%	$10.1M	$34.8M	50x	as long as short
Bybit ORDIUSDT	+0.0100%	4h	4.9050	−0.020%	$4.1M	$4.8M	50x	as long as short
OKX ORDI-USDT-SWAP	+0.0100%	4h	4.9070	+0.020%	$5.2M	$18.3M	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	4.9090	+0.061%	$6.6M	$3.3M	200x	as long as short
KuCoin ORDIUSDTM	+0.0100%	4h	4.9048	−0.024%	$996K	$829K	50x	as long as short
Bitget ORDIUSDT	+0.0100%	4h	4.9100	+0.082%	$2.9M	$3.5M	50x	as long as short
BingX ORDI-USDT	+0.0100%	4h	4.9060	0.000%	—	$26.9M	—	as long as short
Variational Omni ORDI	+0.0100%	4h	4.8967	−0.190%	$29K	$39K	—	as long as short
SunX ORDI-USDT	+0.0100%	4h	4.9090	+0.061%	$1K	$1.2M	20x	as long as short
HTX ORDI-USDT	+0.0100%	4h	4.8990	−0.143%	$85K	$438K	75x	as long as short
Extended ORDI-USD	+0.0104%	1h	4.9077	+0.035%	$7K	$184K	5x	as long as short
GMX ORDI/USD [WBTC.b-USDC]short	L +0.0240% / S −0.3359%	1h	4.9055	−0.011%	$8K	—	100x