ORDI

Alert

Spread before costs (cost unknown: a leg has no order-book sample)−0.280%

7d average—if it closes, per $10,000$28funding while held, a day−$9.98

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid ORDI	4.9868	0.0333	pay 0.0042% / 1h	4m 42s	$917K	$497K	3x
Short	dYdX ORDI-USD	4.9728	0	get 0.0000% / 1h	4m 42s	$34K	$651	5x

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 HyperliquidbpFee dYdXbpOrdersClose when spread is

Spread captured: −$27.98
Funding while held: −$9.98
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$56.96
Spread needed to break even: 0.190%

Slippage unknown: Hyperliquid: live order book, 7 min ago; dYdX: no order-book sample. Net counts fees only.

Cost of waiting

funding view

Funding /8h: −0.0333%
Per $10,000 a day: −$9.98
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 Hyperliquid live order book, 7 min ago	2.39 bp	10.7 bp −$11	doesn't fit	doesn't fit	doesn't fit
Sell dYdX no order-book sample	—	—	—	—	—

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 price on every exchange

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

Injective4.5550cheapest

Variational Omni4.9662+9.028%SunX4.9700+9.111%

dYdX4.9728+9.173%

Bybit4.9730+9.177%Gate4.9750+9.221%KuCoin4.9754+9.229%BloFin4.9770+9.265%Bitget4.9780+9.286%BingX4.9780+9.286%Extended4.9783+9.292%OKX4.9790+9.308%GMX4.9793+9.315%MEXC4.9800+9.330%HTX4.9800+9.330%Binance4.9803+9.338%Aster4.9806+9.343%Kraken Futures4.9811+9.354%

Hyperliquid4.9868+9.480%

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	−8.659%	+0.0033%	1h	$776	$73K	5.5x	as long as short
Variational Omni ORDI	−0.413%	+0.0100%	4h	$26K	$56K	—	as long as short
SunX ORDI-USDT	−0.337%	+0.0100%	4h	$1K	$1.1M	20x	as long as short
dYdX ORDI-USDshort	−0.280%	0.0000%	1h	$34K	$651	5x
Bybit ORDIUSDT	−0.277%	+0.0100%	4h	$4.2M	$3.6M	50x	as long as short
Gate ORDI_USDT	−0.237%	+0.0100%	4h	$1.3M	$2.5M	50x	as long as short
KuCoin ORDIUSDTM	−0.229%	+0.0100%	4h	$918K	$760K	50x	as long as short
BloFin ORDI-USDT	−0.197%	+0.0122%	4h	$668K	$298K	75x	as long as short
Bitget ORDIUSDT	−0.176%	+0.0100%	4h	$2.9M	$2.7M	50x	as long as short
BingX ORDI-USDT	−0.176%	+0.0100%	4h	—	$26.9M	—	as long as short

Show all 19 venues

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
Extended ORDI-USD	−0.171%	+0.0104%	1h	$5K	$172K	5x	as long as short
OKX ORDI-USDT-SWAP	−0.156%	+0.0100%	4h	$5.7M	$15.4M	20x	as long as short
GMX ORDI/USD [WBTC.b-USDC]	−0.150%	L +0.0240% / S −0.3359%	1h	$9K	—	100x	as long as short
MEXC ORDI_USDT	−0.136%	+0.0100%	4h	$7.0M	$3.2M	200x	as long as short
HTX ORDI-USDT	−0.136%	+0.0100%	4h	$86K	$323K	75x	as long as short
Binance ORDIUSDT	−0.130%	+0.0100%	4h	$10.4M	$27.4M	50x	as long as short
Aster ORDIUSDT	−0.125%	+0.0100%	4h	$12K	$390K	5x	as long as short
Kraken Futures PF_ORDIUSD	−0.115%	+0.1444%	1h	$66K	$34K	25x	as long as short
Hyperliquid ORDIlong	0.000%	+0.0333%	1h	$917K	$497K	3x