Funding arb · Price arb /

ORDI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.010%

Price spread now: Gate against OKX+0.061%7-day average −0.022% · you sell dearer than you buy

Net, funding: paid 7d − costs−$70as in the Funding arb table

Net, price: spread back to 7d avg − costs−$60as in the Price arb table

costs, in and out, $10k−$690.688% of the position

Long on OKX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.008%−$1 on $10k

Price spread, last 7 days−0.097%−$10 · spread now +0.061%, 7d avg −0.022%

Together, before fees−0.106%−$11 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: Gate is 0.083% dearer against OKX than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of −0.022%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX ORDI-USDT-SWAP	4.8980	0.0100	pay 0.0050% / 4h	1h 03m	$5.3M	$16.5M	20x
Short	Gate ORDI_USDT	4.9010	0.0100	get 0.0050% / 4h	1h 03m	$1.3M	$2.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against OKX. 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 OKXbpFee GatebpOrdersPrice spread, now +0.061%Rate

Funding earned: $0
Price spread: +0.061% → −0.022%: $8.3
Slippage, 4 orders: −$43.78
Fee OKX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$60.48
Costs to cover: 0.688%
Break-even: never at this rate

Slippage from OKX: live order book, 5 min ago; Gate: live order book, 4 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 OKX live order book, 5 min ago	2.05 bp	13.7 bp −$14	49.2 bp −$492	doesn't fit	doesn't fit
Sell Gate live order book, 4 min ago	3.08 bp	20.6 bp −$21	85.9 bp −$859	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
dYdX ORDI-USD	0.0000%	1h	4.8953	−0.055%	$34K	$651	5x	as long as short
Injective ORDI/USDC PERP	+0.0033%	1h	4.5550	−7.003%	$776	$20K	5.5x	as long as short
BloFin ORDI-USDT	+0.0088%	4h	4.8870	−0.225%	$604K	$309K	75x	as long as short
Hyperliquid ORDI	+0.0100%	1h	4.9062	+0.167%	$713K	$649K	3x	as long as short
Aster ORDIUSDT	+0.0100%	4h	4.9042	+0.127%	$4K	$416K	5x	as long as short
Binance ORDIUSDT	+0.0100%	4h	4.9020	+0.082%	$10.0M	$31.1M	50x	as long as short
Bybit ORDIUSDT	+0.0100%	4h	4.8980	0.000%	$4.1M	$4.2M	50x	as long as short
OKX ORDI-USDT-SWAPlong	+0.0100%	4h	4.8980	long leg	$5.3M	$16.5M	20x
Gate ORDI_USDTshort	+0.0100%	4h	4.9010	+0.061%	$1.3M	$2.8M	50x
MEXC ORDI_USDT	+0.0100%	4h	4.9050	+0.143%	$7.0M	$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	4.9037	+0.116%	$938K	$829K	50x	as long as short
Bitget ORDIUSDT	+0.0100%	4h	4.9010	+0.061%	$2.9M	$3.0M	50x	as long as short
BingX ORDI-USDC	+0.0100%	4h	4.8870	−0.225%	—	$2.3M	—	as long as short
Variational Omni ORDI	+0.0100%	4h	4.8748	−0.473%	$24K	$56K	—	as long as short
SunX ORDI-USDT	+0.0100%	4h	4.8790	−0.388%	$2K	$1.2M	20x	as long as short
HTX ORDI-USDT	+0.0100%	4h	4.8900	−0.163%	$89K	$357K	75x	as long as short
Extended ORDI-USD	+0.0104%	1h	4.9050	+0.143%	$5K	$172K	5x	as long as short
GMX ORDI/USD [WBTC.b-USDC]	L +0.0239% / S −0.3359%	1h	4.8932	−0.099%	$8K	—	100x	as long as short
Kraken Futures PF_ORDIUSD	+0.2937%	1h	4.9040	+0.123%	$66K	$42K	25x	as long as short