Funding arb · Price arb /

ORDI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: MEXC against SunX+0.122%7-day average +0.173% · you sell dearer than you buy

Net, funding: paid 7d − costs−$153as in the Funding arb table

Net, price: spread back to 7d avg − costs−$152as in the Price arb table

costs, in and out, $10k−$1471.472% of the position

Long on SunX Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.054%−$5 on $10k

Price spread, last 4 days (all we have)+0.010%+$1 · spread now +0.122%, 7d avg +0.173%

Together, before fees−0.044%−$4 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: MEXC is 0.050% cheaper against SunX than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.173%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX ORDI-USDT	4.9010	0.0100	pay 0.0050% / 4h	1h 17m	$1K	$1.2M	20x
Short	MEXC ORDI_USDT	4.9070	0.0100	get 0.0050% / 4h	1h 17m	$6.6M	$3.3M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.122%Rate

Funding earned: $0
Price spread: +0.122% → +0.173%: −$5.02
Slippage, 4 orders: −$139.21
Fee SunX: 4 bp × 2 orders: −$8
Fee MEXC: 0 bp × 2 orders: $0
Net: −$152.23
Costs to cover: 1.472%
Break-even: never at this rate

Slippage from SunX: live order book, 6 min ago; MEXC: live order book, 5 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, 6 min ago	31.67 bp	80.1 bp −$80	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 5 min ago	1.02 bp	4.7 bp −$5	17.9 bp −$179	51.8 bp −$5,185	101.5 bp −$50.8K

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	−0.0541%	1h	4.9026	+0.032%	$70K	$44K	25x	as long as short
Gate ORDI_USDT	−0.0070%	4h	4.9000	−0.020%	$1.2M	$2.7M	50x	as long as short
dYdX ORDI-USD	0.0000%	1h	4.8992	−0.036%	$34K	$577	5x	as long as short
Injective ORDI/USDC PERP	+0.0033%	1h	4.5550	−7.060%	$776	$20K	5.5x	as long as short
Hyperliquid ORDI	+0.0100%	1h	4.9095	+0.173%	$708K	$667K	3x	as long as short
Aster ORDIUSDT	+0.0100%	4h	4.9043	+0.068%	$4K	$423K	5x	as long as short
Binance ORDIUSDT	+0.0100%	4h	4.9043	+0.068%	$10.0M	$34.5M	50x	as long as short
Bybit ORDIUSDT	+0.0100%	4h	4.8980	−0.061%	$4.1M	$4.7M	50x	as long as short
OKX ORDI-USDT-SWAP	+0.0100%	4h	4.8990	−0.041%	$5.2M	$18.0M	20x	as long as short
MEXC ORDI_USDTshort	+0.0100%	4h	4.9070	+0.122%	$6.6M	$3.3M	200x

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ORDIUSDTM	+0.0100%	4h	4.9044	+0.069%	$996K	$820K	50x	as long as short
Bitget ORDIUSDT	+0.0100%	4h	4.9030	+0.041%	$2.8M	$3.6M	50x	as long as short
BingX ORDI-USDC	+0.0100%	4h	4.9030	+0.041%	—	$2.3M	—	as long as short
Variational Omni ORDI	+0.0100%	4h	4.8936	−0.150%	$26K	$42K	—	as long as short
SunX ORDI-USDTlong	+0.0100%	4h	4.9010	long leg	$1K	$1.2M	20x
HTX ORDI-USDT	+0.0100%	4h	4.9050	+0.082%	$85K	$430K	75x	as long as short
Extended ORDI-USD	+0.0104%	1h	4.9033	+0.048%	$3K	$159K	5x	as long as short
BloFin ORDI-USDT	+0.0110%	4h	4.9040	+0.061%	$596K	$313K	75x	as long as short
GMX ORDI/USD [WBTC.b-USDC]	L +0.0240% / S −0.3359%	1h	4.9045	+0.071%	$8K	—	100x	as long as short