Funding arb · Price arb /

ORDI

all ORDI markets

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 0.000%

Price spread now: KuCoin against OKX+0.080%7-day average −0.005% · you sell dearer than you buy

Net, funding: paid 7d − costs−$74as in the Funding arb table

Net, price: spread back to 7d avg − costs−$70as in the Price arb table

costs, in and out, $10k−$780.780% of the position

Long on OKX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.038%+$4 on $10k

Price spread, last 4 days (all we have)+0.047%+$5 · spread now +0.080%, 7d avg −0.005%

Together, before fees+0.085%+$8 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: KuCoin is 0.085% dearer against OKX than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of −0.005%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX ORDI-USDT-SWAP	4.8590	0.0100	pay 0.0050% / 4h	13m 04s	$5.3M	$16.5M	20x
Short	KuCoin ORDIUSDTM	4.8629	0.0100	get 0.0050% / 4h	13m 04s	$933K	$810K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.080%Rate

Funding earned: $0
Price spread: +0.080% → −0.005%: $8.5
Slippage, 4 orders: −$56
Fee OKX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$69.5
Costs to cover: 0.780%
Break-even: never at this rate

Slippage from OKX: live order book, just now; KuCoin: live order book, 56 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, just now	1.03 bp	11.5 bp −$11	43.9 bp −$439	doesn't fit	doesn't fit
Sell KuCoin live order book, 56 min ago	6.76 bp	19.4 bp −$19	543.4 bp −$5,434	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	4.8571	−0.039%	$33K	$651	5x	as long as short
Injective ORDI/USDC PERP	+0.0033%	1h	4.5550	−6.256%	$776	$20K	5.5x	as long as short
Hyperliquid ORDI	+0.0100%	1h	4.8680	+0.185%	$707K	$652K	3x	as long as short
Aster ORDIUSDT	+0.0100%	4h	4.8646	+0.115%	$4K	$419K	5x	as long as short
Binance ORDIUSDT	+0.0100%	4h	4.8625	+0.072%	$10.0M	$31.3M	50x	as long as short
Bybit ORDIUSDT	+0.0100%	4h	4.8590	0.000%	$4.1M	$4.2M	50x	as long as short
OKX ORDI-USDT-SWAPlong	+0.0100%	4h	4.8590	long leg	$5.3M	$16.5M	20x
Gate ORDI_USDT	+0.0100%	4h	4.8600	+0.021%	$1.3M	$2.8M	50x	as long as short
MEXC ORDI_USDT	+0.0100%	4h	4.8640	+0.103%	$7.0M	$3.3M	200x	as long as short
KuCoin ORDIUSDTMshort	+0.0100%	4h	4.8629	+0.080%	$933K	$810K	50x

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget ORDIUSDT	+0.0100%	4h	4.8630	+0.082%	$2.9M	$3.0M	50x	as long as short
BingX ORDI-USDC	+0.0100%	4h	4.8590	0.000%	—	$2.3M	—	as long as short
Variational Omni ORDI	+0.0100%	4h	4.8588	−0.004%	$24K	$56K	—	as long as short
SunX ORDI-USDT	+0.0100%	4h	4.8570	−0.041%	$1K	$1.2M	20x	as long as short
HTX ORDI-USDT	+0.0100%	4h	4.8570	−0.041%	$88K	$355K	75x	as long as short
Extended ORDI-USD	+0.0104%	1h	4.8613	+0.047%	$5K	$172K	5x	as long as short
BloFin ORDI-USDT	+0.0132%	4h	4.8650	+0.123%	$606K	$308K	75x	as long as short
GMX ORDI/USD [WBTC.b-USDC]	L +0.0239% / S −0.3359%	1h	4.8586	−0.008%	$8K	—	100x	as long as short
Kraken Futures PF_ORDIUSD	+0.3039%	1h	4.8751	+0.331%	$65K	$43K	25x	as long as short