Funding you earn now, next payment 00:00 UTC−0.0030%/8h= −3.3% APRnext payment −$0.15 per $10,000 · paid last 24h +0.168%
Price spread now: BingX against Binance−0.133%7-day average +0.032% · you buy dearer than you sell
Net, funding: paid 7d − costs−$63as in the Funding arb table
Net, price: spread back to 7d avg − costs−$99as in the Price arb table
costs, in and out, $10k−$830.826% of the position
Funding, last 7 days+0.195%+$19 on $10k
+Price spread, last 7 days+0.108%+$11 · spread now −0.133%, 7d avg +0.032%
=Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and BingX is 0.165% cheaper against Binance than usual: you would sell low and buy high (−$16 if the spread goes back to its 7-day average of +0.032%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.195%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance ORCAUSDT | 1.5080 | 0.0100 | pay 0.0050% / 4h | 33m 54s | $3.5M | $5.5M | 50x |
| Short | BingX ORCA-USDT | 1.5060 | 0.0070 | get 0.0035% / 4h | 33m 54s | — | $6.6M | — |
Binance ORCAUSDT
BingX ORCA-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BingX against Binance. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$6.3
- Price spread: −0.133% → +0.032%
- −$16.47
- Slippage, 4 orders
- −$62.59
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee BingX: 5 bp × 2 orders
- −$10
- Net
- −$105.36
- Costs to cover
- 0.826%
- Break-even
- never at this rate
Slippage from Binance: live order book, 4 min ago; BingX: live order book, 3 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 Binance live order book, 4 min ago | 3.31 bp | 18.0 bp −$18 | 70.6 bp −$706 | doesn't fit | doesn't fit |
| Sell BingX live order book, 3 min ago | 9.94 bp | 23.9 bp −$24 | 57.3 bp −$573 | 671.7 bp −$67.2K | 1212.1 bp −$606.1K |
ORCA on 12 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_ORCAUSD | −0.0442% | 1h | 1.5084 | +0.025% | $9K | $14K | 10x | as long as short |
| BingX ORCA-USDTshort | +0.0070% | 4h | 1.5060 | −0.133% | — | $6.6M | — | |
| BloFin ORCA-USDT | +0.0092% | 4h | 1.5110 | +0.199% | $229K | $60K | 50x | as long as short |
| Aster ORCAUSDT | +0.0100% | 4h | 1.5090 | +0.066% | $44K | $44K | 5x | as long as short |
| Binance ORCAUSDTlong | +0.0100% | 4h | 1.5080 | long leg | $3.5M | $5.5M | 50x | |
| Gate ORCA_USDT | +0.0100% | 4h | 1.5103 | +0.153% | $127K | $46K | 25x | as long as short |
| MEXC ORCA_USDT | +0.0100% | 4h | 1.5080 | 0.000% | $703K | $139K | 20x | as long as short |
| KuCoin ORCAUSDTM | +0.0100% | 4h | 1.5114 | +0.225% | $581K | $207K | 30x | as long as short |
| Bitget ORCAUSDT | +0.0100% | 4h | 1.5080 | 0.000% | $699K | $556K | 25x | as long as short |
| Extended ORCA-USD | +0.0104% | 1h | 1.5077 | −0.019% | $3K | $155K | 5x | as long as short |
Kraken Futures PF_ORCAUSD
BloFin ORCA-USDT
Aster ORCAUSDT
Gate ORCA_USDT
MEXC ORCA_USDT
KuCoin ORCAUSDTM
Bitget ORCAUSDT
Extended ORCA-USDShow all 12 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit ORCAUSDT | +0.1300% | 4h | 1.5041 | −0.259% | $2.1M | $1.4M | 25x | as long as short |
| Variational Omni ORCA | +0.1572% | 4h | 1.5070 | −0.068% | $28K | $12K | — | as long as short |
Bybit ORCAUSDT
Variational Omni ORCA