Funding arb · Price arb /

ORDI

all ORDI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0139%/8h= −15.2% APRpaid last 24h −0.039%

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

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

Long on GMX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 4 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: −$4 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX ORDI/USD [WBTC.b-USDC]	4.8257	L +0.0239% / S −0.3359%	pay 0.0030% / 1h	7m 52s	$8K	—	100x
Short	KuCoin ORDIUSDTM	4.8262	0.0100	get 0.0050% / 4h	2h 07m	$1.0M	$749K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against GMX. 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 GMXbpFee KuCoinbpOrdersPrice spread, now +0.011%Rate

Funding earned: −$29.09
Price spread: +0.011% → 0.000%: $1.1
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$51.99
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; KuCoin: 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 GMX no order-book sample	—	—	—	—	—
Sell KuCoin live order book, 5 min ago	9.00 bp	25.0 bp −$25	546.7 bp −$5,467	doesn't fit	doesn't fit

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 exchanges

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	−0.0424%	1h	4.8172	−0.175%	$68K	$43K	25x	as long as short
dYdX ORDI-USD	0.0000%	1h	4.8310	+0.110%	$33K	$577	5x	as long as short
Injective ORDI/USDC PERP	+0.0033%	1h	4.5550	−5.609%	$776	$20K	5.5x	as long as short
Hyperliquid ORDI	+0.0100%	1h	4.8327	+0.146%	$697K	$639K	3x	as long as short
Aster ORDIUSDT	+0.0100%	4h	4.8276	+0.039%	$10K	$279K	5x	as long as short
Binance ORDIUSDT	+0.0100%	4h	4.8272	+0.032%	$9.8M	$32.5M	50x	as long as short
Bybit ORDIUSDT	+0.0100%	4h	4.8230	−0.055%	$4.0M	$4.3M	50x	as long as short
OKX ORDI-USDT-SWAP	+0.0100%	4h	4.8220	−0.076%	$5.1M	$17.4M	20x	as long as short
Gate ORDI_USDT	+0.0100%	4h	4.8240	−0.035%	$1.2M	$2.6M	50x	as long as short
MEXC ORDI_USDT	+0.0100%	4h	4.8270	+0.028%	$6.8M	$3.2M	200x	as long as short

Show all 19 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ORDIUSDTMshort	+0.0100%	4h	4.8262	+0.011%	$1.0M	$749K	50x
Bitget ORDIUSDT	+0.0100%	4h	4.8260	+0.007%	$2.8M	$3.4M	50x	as long as short
BingX ORDI-USDC	+0.0100%	4h	4.8240	−0.035%	—	$2.3M	—	as long as short
Variational Omni ORDI	+0.0100%	4h	4.8259	+0.005%	$25K	$33K	—	as long as short
SunX ORDI-USDT	+0.0100%	4h	4.8230	−0.055%	$1K	$1.1M	20x	as long as short
HTX ORDI-USDT	+0.0100%	4h	4.8280	+0.048%	$83K	$349K	75x	as long as short
Extended ORDI-USD	+0.0104%	1h	4.8260	+0.008%	$4K	$226K	5x	as long as short
BloFin ORDI-USDT	+0.0111%	4h	4.8330	+0.152%	$583K	$285K	75x	as long as short
GMX ORDI/USD [WBTC.b-USDC]long	L +0.0239% / S −0.3359%	1h	4.8257	long leg	$8K	—	100x