Funding arb · Price arb /

ORDI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0640%/8h= +70.1% APRpaid last 24h −0.187%

Price spread now: Aster against Kraken Futures−0.114%7-day average — · you buy dearer than you sell

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

Long on Kraken Futures Short on Aster

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—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

Funding pays, the price is against you. Aster is 0.114% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.114% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$11 on $10k: about 14 hours of funding at the current rate (+$19 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_ORDIUSD	4.9120	−0.0540	get 0.0067% / 1h	23m 48s	$70K	$44K	25x
Short	Aster ORDIUSDT	4.9064	0.0100	get 0.0050% / 4h	1h 23m	$4K	$423K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Kraken Futures. 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 Kraken FuturesbpFee AsterbpOrdersPrice spread, now −0.114%Rate

Funding earned: $134.39
Price spread: −0.114% → 0.000%: −$11.38
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: $105.01
Costs to cover: 0.180%
Break-even: 1.5 days

Slippage unknown: Kraken Futures: no order-book sample; Aster: live order book, 19 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 Kraken Futures no order-book sample	—	—	—	—	—
Sell Aster live order book, 19 min ago	6.11 bp	17.7 bp −$18	doesn't fit	doesn't fit	doesn't fit

Kraken Futures: 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_ORDIUSDlong	−0.0540%	1h	4.9120	long leg	$70K	$44K	25x
Gate ORDI_USDT	−0.0074%	4h	4.9100	−0.040%	$1.3M	$2.7M	50x	as long as short
dYdX ORDI-USD	0.0000%	1h	4.9031	−0.180%	$34K	$577	5x	as long as short
Injective ORDI/USDC PERP	+0.0033%	1h	4.5550	−7.267%	$776	$20K	5.5x	as long as short
Hyperliquid ORDI	+0.0100%	1h	4.9109	−0.022%	$708K	$667K	3x	as long as short
Aster ORDIUSDTshort	+0.0100%	4h	4.9064	−0.114%	$4K	$423K	5x
Binance ORDIUSDT	+0.0100%	4h	4.9059	−0.123%	$10.0M	$34.5M	50x	as long as short
Bybit ORDIUSDT	+0.0100%	4h	4.8970	−0.305%	$4.1M	$4.7M	50x	as long as short
OKX ORDI-USDT-SWAP	+0.0100%	4h	4.8990	−0.264%	$5.2M	$18.2M	20x	as long as short
MEXC ORDI_USDT	+0.0100%	4h	4.9030	−0.183%	$6.5M	$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	4.9099	−0.042%	$997K	$820K	50x	as long as short
Bitget ORDIUSDT	+0.0100%	4h	4.9060	−0.122%	$2.8M	$3.6M	50x	as long as short
BingX ORDI-USDT	+0.0100%	4h	4.9080	−0.081%	—	$26.9M	—	as long as short
Variational Omni ORDI	+0.0100%	4h	4.9086	−0.068%	$27K	$42K	—	as long as short
SunX ORDI-USDT	+0.0100%	4h	4.9070	−0.101%	$1K	$1.2M	20x	as long as short
HTX ORDI-USDT	+0.0100%	4h	4.9060	−0.122%	$85K	$431K	75x	as long as short
Extended ORDI-USD	+0.0104%	1h	4.9013	−0.218%	$3K	$159K	5x	as long as short
BloFin ORDI-USDT	+0.0130%	4h	4.9160	+0.082%	$602K	$313K	75x	as long as short
GMX ORDI/USD [WBTC.b-USDC]	L +0.0240% / S −0.3359%	1h	4.9125	+0.011%	$8K	—	100x	as long as short