Funding arb · Price arb /

ORDI

all ORDI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.3259%/8h= +356.8% APRpaid last 24h +0.612%

Price spread now: GMX against OKX+0.003%7-day average — · you sell dearer than you buy

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

Long on OKX 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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$98 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX ORDI-USDT-SWAP	4.8700	0.0100	pay 0.0050% / 4h	55m 57s	$5.2M	$17.8M	20x
Short	GMX ORDI/USD [WBTC.b-USDC]	4.8702	L +0.0239% / S −0.3359%	get 0.0420% / 1h	55m 57s	$8K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now +0.003%Rate

Funding earned: $684.29
Price spread: +0.003% → 0.000%: $0.32
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: $662.61
Costs to cover: 0.220%
Break-even: 0.2 days

Slippage unknown: OKX: live order book, 2 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 OKX live order book, 2 min ago	1.02 bp	10.7 bp −$11	40.6 bp −$406	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
Kraken Futures PF_ORDIUSD	−0.0305%	1h	4.8650	−0.102%	$69K	$43K	25x	as long as short
Gate ORDI_USDT	−0.0072%	4h	4.8730	+0.062%	$1.2M	$2.7M	50x	as long as short
dYdX ORDI-USD	0.0000%	1h	4.8783	+0.170%	$33K	$577	5x	as long as short
Injective ORDI/USDC PERP	+0.0033%	1h	4.5550	−6.468%	$776	$20K	5.5x	as long as short
Hyperliquid ORDI	+0.0100%	1h	4.8796	+0.197%	$705K	$668K	3x	as long as short
Aster ORDIUSDT	+0.0100%	4h	4.8763	+0.129%	$4K	$420K	5x	as long as short
Binance ORDIUSDT	+0.0100%	4h	4.8750	+0.103%	$10.0M	$34.1M	50x	as long as short
Bybit ORDIUSDT	+0.0100%	4h	4.8690	−0.021%	$4.1M	$4.6M	50x	as long as short
OKX ORDI-USDT-SWAPlong	+0.0100%	4h	4.8700	long leg	$5.2M	$17.8M	20x
MEXC ORDI_USDT	+0.0100%	4h	4.8750	+0.103%	$6.6M	$3.2M	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	4.8764	+0.131%	$984K	$793K	50x	as long as short
Bitget ORDIUSDT	+0.0100%	4h	4.8730	+0.062%	$2.8M	$3.5M	50x	as long as short
BingX ORDI-USDC	+0.0100%	4h	4.8710	+0.021%	—	$2.3M	—	as long as short
Variational Omni ORDI	+0.0100%	4h	4.8851	+0.311%	$26K	$33K	—	as long as short
SunX ORDI-USDT	+0.0100%	4h	4.8740	+0.082%	$1K	$1.2M	20x	as long as short
HTX ORDI-USDT	+0.0100%	4h	4.8680	−0.041%	$85K	$385K	75x	as long as short
Extended ORDI-USD	+0.0104%	1h	4.8737	+0.077%	$4K	$169K	5x	as long as short
BloFin ORDI-USDT	+0.0133%	4h	4.8830	+0.267%	$596K	$305K	75x	as long as short
GMX ORDI/USD [WBTC.b-USDC]short	L +0.0239% / S −0.3359%	1h	4.8702	+0.003%	$8K	—	100x