ORDI

Alert

Spread before costs (cost unknown: a leg has no order-book sample)−0.072%

7d average—if it closes, per $10,000$7funding while held, a day−$4.18

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX ORDI/USD [WBTC.b-USDC]	4.9105	L +0.0239% / S −0.3359%	pay 0.0030% / 1h	45m 54s	$8K	—	100x
Short	OKX ORDI-USDT-SWAP	4.9070	0.0100	get 0.0050% / 4h	1h 45m	$5.4M	$16.0M	20x

Price spread history

latest

Range statsloading…

How often the spread is this wide

share of time at each level, last 7D

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

Profit calculator

Position, each leg$Hold forhoursFee GMXbpFee OKXbpOrdersClose when spread is

Spread captured: −$7.17
Funding while held: −$4.18
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$33.35
Spread needed to break even: 0.220%

Slippage unknown: GMX: no order-book sample; OKX: live order book, 4 min ago. Net counts fees only.

Cost of waiting

funding view

Funding /8h: −0.0139%
Per $10,000 a day: −$4.18
Average in range /8h: —

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 OKX live order book, 4 min ago	1.02 bp	12.9 bp −$13	40.5 bp −$405	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 price on every exchange

against the cheapest. Click to use as the short leg.

Injective4.5550cheapest

Variational Omni4.9011+7.599%dYdX4.9030+7.640%SunX4.9030+7.640%Gate4.9060+7.706%KuCoin4.9067+7.721%Bybit4.9070+7.728%

OKX4.9070+7.728%

BingX4.9080+7.750%HTX4.9080+7.750%Bitget4.9090+7.772%Extended4.9104+7.801%Aster4.9104+7.803%

GMX4.9105+7.805%

Binance4.9109+7.813%MEXC4.9110+7.816%BloFin4.9110+7.816%Kraken Futures4.9113+7.822%Hyperliquid4.9181+7.971%

ORDI on 19 venues

cheapest first. Swap a leg.

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
Injective ORDI/USDC PERP	−7.240%	+0.0033%	1h	$776	$20K	5.5x	as long as short
Variational Omni ORDI	−0.191%	+0.0100%	4h	$24K	$58K	—	as long as short
dYdX ORDI-USD	−0.153%	0.0000%	1h	$34K	$651	5x	as long as short
SunX ORDI-USDT	−0.153%	+0.0100%	4h	$2K	$1.2M	20x	as long as short
Gate ORDI_USDT	−0.092%	+0.0018%	4h	$1.3M	$2.6M	50x	as long as short
KuCoin ORDIUSDTM	−0.078%	+0.0100%	4h	$898K	$798K	50x	as long as short
Bybit ORDIUSDT	−0.072%	+0.0100%	4h	$4.1M	$3.8M	50x	as long as short
OKX ORDI-USDT-SWAPshort	−0.072%	+0.0100%	4h	$5.4M	$16.0M	20x
BingX ORDI-USDT	−0.051%	+0.0100%	4h	—	$26.8M	—	as long as short
HTX ORDI-USDT	−0.051%	+0.0100%	4h	$85K	$347K	75x	as long as short

Show all 19 venues

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
Bitget ORDIUSDT	−0.031%	+0.0100%	4h	$2.9M	$2.8M	50x	as long as short
Extended ORDI-USD	−0.003%	+0.0104%	1h	$5K	$172K	5x	as long as short
Aster ORDIUSDT	−0.002%	+0.0100%	4h	$17K	$404K	5x	as long as short
GMX ORDI/USD [WBTC.b-USDC]long	0.000%	L +0.0239% / S −0.3359%	1h	$8K	—	100x
Binance ORDIUSDT	+0.008%	+0.0100%	4h	$10.0M	$29.3M	50x	as long as short
MEXC ORDI_USDT	+0.010%	+0.0100%	4h	$6.7M	$3.1M	200x	as long as short
BloFin ORDI-USDT	+0.010%	+0.0145%	4h	$629K	$299K	75x	as long as short
Kraken Futures PF_ORDIUSD	+0.016%	+0.0195%	1h	$65K	$35K	25x	as long as short
Hyperliquid ORDI	+0.154%	+0.0100%	1h	$912K	$532K	3x	as long as short