Funding arb · Price arb /

ORDI

all ORDI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.3259%/8h= +356.8% APRpaid last 24h +0.432%

Price spread now: GMX against KuCoin+0.100%7-day average — · you sell dearer than you buy

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

Long on KuCoin 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

Both sides work for this trade now. Funding pays +$98 a day on $10k at the current rate, and GMX is 0.100% dearer against KuCoin than usual: you sell high and buy low: +$10 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ORDIUSDTM	4.8998	0.0100	pay 0.0050% / 4h	2h 35m	$918K	$888K	50x
Short	GMX ORDI/USD [WBTC.b-USDC]	4.9047	L +0.0240% / S −0.3359%	get 0.0420% / 1h	35m 21s	$8K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against KuCoin. 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 KuCoinbpFee GMXbpOrdersPrice spread, now +0.100%Rate

Funding earned: $684.29
Price spread: +0.100% → 0.000%: $10.02
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: $670.31
Costs to cover: 0.240%
Break-even: 0.1 days

Slippage unknown: KuCoin: live order book, 24 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 KuCoin live order book, 24 min ago	8.65 bp	39.6 bp −$40	1083.6 bp −$10.8K	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
dYdX ORDI-USD	0.0000%	1h	4.8983	−0.030%	$34K	$651	5x	as long as short
Injective ORDI/USDC PERP	+0.0033%	1h	4.5550	−7.037%	$776	$20K	5.5x	as long as short
Hyperliquid ORDI	+0.0100%	1h	4.9131	+0.271%	$710K	$661K	3x	as long as short
Aster ORDIUSDT	+0.0100%	4h	4.9039	+0.083%	$7K	$422K	5x	as long as short
Binance ORDIUSDT	+0.0100%	4h	4.9081	+0.169%	$10.1M	$33.2M	50x	as long as short
Bybit ORDIUSDT	+0.0100%	4h	4.9050	+0.106%	$4.2M	$4.6M	50x	as long as short
OKX ORDI-USDT-SWAP	+0.0100%	4h	4.9070	+0.147%	$5.3M	$17.5M	20x	as long as short
Gate ORDI_USDT	+0.0100%	4h	4.8990	−0.016%	$1.3M	$2.7M	50x	as long as short
MEXC ORDI_USDT	+0.0100%	4h	4.9080	+0.167%	$7.1M	$3.5M	200x	as long as short
KuCoin ORDIUSDTMlong	+0.0100%	4h	4.8998	long leg	$918K	$888K	50x

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget ORDIUSDT	+0.0100%	4h	4.9050	+0.106%	$2.9M	$3.4M	50x	as long as short
BingX ORDI-USDT	+0.0100%	4h	4.9050	+0.106%	—	$27.1M	—	as long as short
Variational Omni ORDI	+0.0100%	4h	4.9027	+0.060%	$24K	$56K	—	as long as short
SunX ORDI-USDT	+0.0100%	4h	4.9000	+0.004%	$2K	$1.2M	20x	as long as short
HTX ORDI-USDT	+0.0100%	4h	4.8970	−0.057%	$89K	$356K	75x	as long as short
BloFin ORDI-USDT	+0.0100%	4h	4.9110	+0.229%	$610K	$314K	75x	as long as short
Extended ORDI-USD	+0.0104%	1h	4.9055	+0.117%	$5K	$193K	5x	as long as short
GMX ORDI/USD [WBTC.b-USDC]short	L +0.0240% / S −0.3359%	1h	4.9047	+0.100%	$8K	—	100x
Kraken Futures PF_ORDIUSD	+0.3052%	1h	4.9007	+0.018%	$72K	$49K	25x	as long as short