Funding arb · Price arb /

ORDI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.010%

Price spread now: Gate against SunX−0.328%7-day average +0.123% · you buy dearer than you sell

Net, funding: paid 7d − costs−$179as in the Funding arb table

Net, price: spread back to 7d avg − costs−$217as in the Price arb table

costs, in and out, $10k−$1721.722% of the position

Long on SunX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.067%−$7 on $10k

Price spread, last 4 days (all we have)+0.328%+$33 · spread now −0.328%, 7d avg +0.123%

Together, before fees+0.261%+$26 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 0.451% cheaper against SunX than usual: you would sell low and buy high, −$45 on $10k if it goes back to its 7-day average of +0.123%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX ORDI-USDT	4.8760	0.0100	pay 0.0050% / 4h	1h 08m	$1K	$1.2M	20x
Short	Gate ORDI_USDT	4.8600	0.0100	get 0.0050% / 4h	1h 08m	$1.3M	$2.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against SunX. 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 SunXbpFee GatebpOrdersPrice spread, now −0.328%Rate

Funding earned: $0
Price spread: −0.328% → +0.123%: −$45.07
Slippage, 4 orders: −$149.22
Fee SunX: 4 bp × 2 orders: −$8
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$217.29
Costs to cover: 1.722%
Break-even: never at this rate

Slippage from SunX: 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 SunX live order book, 5 min ago	30.71 bp	79.3 bp −$79	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 4 min ago	3.08 bp	19.1 bp −$19	80.0 bp −$800	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	−0.0352%	1h	4.8689	−0.145%	$71K	$45K	25x	as long as short
dYdX ORDI-USD	0.0000%	1h	4.8631	−0.265%	$33K	$651	5x	as long as short
Injective ORDI/USDC PERP	+0.0033%	1h	4.5550	−6.583%	$776	$20K	5.5x	as long as short
BloFin ORDI-USDT	+0.0057%	4h	4.8780	+0.041%	$609K	$304K	75x	as long as short
Aster ORDIUSDT	+0.0100%	4h	4.8635	−0.257%	$13K	$428K	5x	as long as short
Binance ORDIUSDT	+0.0100%	4h	4.8618	−0.290%	$10.0M	$33.6M	50x	as long as short
Bybit ORDIUSDT	+0.0100%	4h	4.8570	−0.390%	$4.2M	$4.6M	50x	as long as short
OKX ORDI-USDT-SWAP	+0.0100%	4h	4.8600	−0.328%	$5.2M	$17.4M	20x	as long as short
Gate ORDI_USDTshort	+0.0100%	4h	4.8600	−0.328%	$1.3M	$2.8M	50x
MEXC ORDI_USDT	+0.0100%	4h	4.8640	−0.246%	$6.8M	$3.4M	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	4.8624	−0.279%	$976K	$878K	50x	as long as short
Bitget ORDIUSDT	+0.0100%	4h	4.8640	−0.246%	$2.9M	$3.5M	50x	as long as short
BingX ORDI-USDC	+0.0100%	4h	4.8690	−0.144%	—	$2.3M	—	as long as short
Variational Omni ORDI	+0.0100%	4h	4.8775	+0.032%	$24K	$55K	—	as long as short
SunX ORDI-USDTlong	+0.0100%	4h	4.8760	long leg	$1K	$1.2M	20x
HTX ORDI-USDT	+0.0100%	4h	4.8690	−0.144%	$80K	$394K	75x	as long as short
Extended ORDI-USD	+0.0104%	1h	4.8627	−0.272%	$5K	$190K	5x	as long as short
GMX ORDI/USD [WBTC.b-USDC]	L +0.0239% / S −0.3359%	1h	4.8725	−0.071%	$8K	—	100x	as long as short
Hyperliquid ORDI	+0.0273%	1h	4.8702	−0.119%	$702K	$661K	3x	as long as short