Funding arb · Price arb /

ORDI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.3259%/8h= +356.8% APRpaid last 24h +0.576%

Price spread now: GMX against SunX+0.087%7-day average — · you sell dearer than you buy

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

Long on SunX 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

Both sides work for this trade now. Funding pays +$98 a day on $10k at the current rate, and GMX is 0.087% dearer against SunX than usual: you sell high and buy low: +$9 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX ORDI-USDT	4.9100	0.0100	pay 0.0050% / 4h	2h 01m	$1K	$1.2M	20x
Short	GMX ORDI/USD [WBTC.b-USDC]	4.9143	L +0.0240% / S −0.3359%	get 0.0420% / 1h	1m 13s	$8K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now +0.087%Rate

Funding earned: $684.29
Price spread: +0.087% → 0.000%: $8.69
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee GMX: 6 bp × 2 orders: −$12
Net: $672.98
Costs to cover: 0.200%
Break-even: 0.1 days

Slippage unknown: SunX: 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 SunX live order book, 2 min ago	30.53 bp	78.8 bp −$79	doesn't fit	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	−0.0710%	1h	4.9144	+0.089%	$70K	$47K	25x	as long as short
Gate ORDI_USDT	−0.0022%	4h	4.9140	+0.081%	$1.3M	$2.8M	50x	as long as short
dYdX ORDI-USD	0.0000%	1h	4.9161	+0.124%	$34K	$577	5x	as long as short
Injective ORDI/USDC PERP	+0.0033%	1h	4.5550	−7.230%	$776	$20K	5.5x	as long as short
BloFin ORDI-USDT	+0.0093%	4h	4.9170	+0.143%	$597K	$315K	75x	as long as short
Hyperliquid ORDI	+0.0100%	1h	4.9223	+0.251%	$710K	$667K	3x	as long as short
Aster ORDIUSDT	+0.0100%	4h	4.9185	+0.173%	$3K	$432K	5x	as long as short
Binance ORDIUSDT	+0.0100%	4h	4.9189	+0.181%	$10.1M	$34.7M	50x	as long as short
Bybit ORDIUSDT	+0.0100%	4h	4.9140	+0.081%	$4.1M	$4.8M	50x	as long as short
OKX ORDI-USDT-SWAP	+0.0100%	4h	4.9160	+0.122%	$5.3M	$18.3M	20x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC ORDI_USDT	+0.0100%	4h	4.9180	+0.163%	$6.6M	$3.3M	200x	as long as short
KuCoin ORDIUSDTM	+0.0100%	4h	4.9192	+0.187%	$999K	$831K	50x	as long as short
Bitget ORDIUSDT	+0.0100%	4h	4.9180	+0.163%	$2.9M	$3.5M	50x	as long as short
BingX ORDI-USDC	+0.0100%	4h	4.9170	+0.143%	—	$2.3M	—	as long as short
Variational Omni ORDI	+0.0100%	4h	4.9201	+0.206%	$29K	$39K	—	as long as short
SunX ORDI-USDTlong	+0.0100%	4h	4.9100	long leg	$1K	$1.2M	20x
HTX ORDI-USDT	+0.0100%	4h	4.9120	+0.041%	$85K	$439K	75x	as long as short
Extended ORDI-USD	+0.0104%	1h	4.9166	+0.134%	$7K	$184K	5x	as long as short
GMX ORDI/USD [WBTC.b-USDC]short	L +0.0240% / S −0.3359%	1h	4.9143	+0.087%	$8K	—	100x