Funding arb · Price arb /

ORDI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bitget against MEXC−0.041%7-day average +0.003% · you buy dearer than you sell

Net, funding: paid 7d − costs−$33as in the Funding arb table

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

costs, in and out, $10k−$380.383% of the position

Long on MEXC Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.054%+$5 on $10k

Price spread, last 7 days+0.098%+$10 · spread now −0.041%, 7d avg +0.003%

Together, before fees+0.152%+$15 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bitget is 0.044% cheaper against MEXC than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.003%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC ORDI_USDT	4.8890	0.0100	pay 0.0050% / 4h	12m 48s	$6.6M	$3.3M	200x
Short	Bitget ORDIUSDT	4.8870	0.0100	get 0.0050% / 4h	12m 48s	$2.8M	$3.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against MEXC. 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 MEXCbpFee BitgetbpOrdersPrice spread, now −0.041%Rate

Funding earned: $0
Price spread: −0.041% → +0.003%: −$4.43
Slippage, 4 orders: −$26.28
Fee MEXC: 0 bp × 2 orders: $0
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$42.71
Costs to cover: 0.383%
Break-even: never at this rate

Slippage from MEXC: live order book, 5 min ago; Bitget: live order book, 5 min ago.

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 MEXC live order book, 5 min ago	1.02 bp	4.6 bp −$5	21.1 bp −$211	55.3 bp −$5,527	111.8 bp −$55.9K
Sell Bitget live order book, 5 min ago	3.08 bp	13.7 bp −$14	30.0 bp −$300	doesn't fit	doesn't fit

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_ORDIUSD	−0.0304%	1h	4.8818	−0.146%	$69K	$43K	25x	as long as short
dYdX ORDI-USD	0.0000%	1h	4.8803	−0.178%	$33K	$577	5x	as long as short
Gate ORDI_USDT	+0.0020%	4h	4.8800	−0.184%	$1.2M	$2.7M	50x	as long as short
Injective ORDI/USDC PERP	+0.0033%	1h	4.5550	−6.832%	$776	$20K	5.5x	as long as short
Hyperliquid ORDI	+0.0100%	1h	4.8944	+0.110%	$706K	$668K	3x	as long as short
Aster ORDIUSDT	+0.0100%	4h	4.8810	−0.163%	$10K	$386K	5x	as long as short
Binance ORDIUSDT	+0.0100%	4h	4.8905	+0.031%	$10.0M	$33.8M	50x	as long as short
Bybit ORDIUSDT	+0.0100%	4h	4.8840	−0.102%	$4.1M	$4.5M	50x	as long as short
OKX ORDI-USDT-SWAP	+0.0100%	4h	4.8870	−0.041%	$5.2M	$17.7M	20x	as long as short
MEXC ORDI_USDTlong	+0.0100%	4h	4.8890	long leg	$6.6M	$3.3M	200x

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ORDIUSDTM	+0.0100%	4h	4.8861	−0.059%	$1.0M	$794K	50x	as long as short
Bitget ORDIUSDTshort	+0.0100%	4h	4.8870	−0.041%	$2.8M	$3.5M	50x
BingX ORDI-USDC	+0.0100%	4h	4.8880	−0.020%	—	$2.3M	—	as long as short
Variational Omni ORDI	+0.0100%	4h	4.8747	−0.292%	$26K	$32K	—	as long as short
SunX ORDI-USDT	+0.0100%	4h	4.8790	−0.205%	$1K	$1.2M	20x	as long as short
HTX ORDI-USDT	+0.0100%	4h	4.8760	−0.266%	$85K	$338K	75x	as long as short
Extended ORDI-USD	+0.0104%	1h	4.8891	+0.002%	$6K	$219K	5x	as long as short
BloFin ORDI-USDT	+0.0140%	4h	4.8920	+0.061%	$595K	$309K	75x	as long as short
GMX ORDI/USD [WBTC.b-USDC]	L +0.0239% / S −0.3359%	1h	4.8761	−0.264%	$8K	—	100x	as long as short