ORDI arbitrage explained
Right now ORDI trades on 11 venues we scan: 11 perpetual markets, 7 spot markets and 0 DEX pools. The lowest ask is on MEXC perp at $4.29 and the highest bid on HTX perp at $4.31.
The widest ORDI perpetual spread is between Binance and HTX: long ORDI on Binance at $4.29 and short on HTX at $4.31 for +0.44% gross, or +0.28% after the 0.16% two-leg fee model. No transfer is needed: both positions stay on their exchanges until the prices converge. The funding difference on this pair is +0.071% per day, which the position collects while it is open.
For a spot–perpetual (cash-and-carry) trade, the best ORDI route is to buy spot on Binance and short the perpetual on HTX: +0.33% gross, +0.13% net, with +0.015% a day of funding on the short leg.
Spot–spot ORDI arbitrage (buy on Binance, withdraw, deposit and sell on OKX) shows +0.12% gross right now. It only works if withdrawals on the buying exchange and deposits on the selling exchange are open, so check the D/W dots before moving coins.
Small ORDI gaps usually disappear after fees, slippage and funding. Look at the Net column, the executable Depth and the spread history before trading: a gap that has been open for days is a different trade from a one-minute spike.
Related: ORDI funding rates · ORDI spread charts · ORDI price · arbitrage scanner for all coins.