Funding you earn now, next payment 04:00 UTC−0.0059%/8h= −6.5% APRnext payment −$0.29 per $10,000 · paid last 24h −0.062%
Price spread now: BloFin against Binance0.000%7-day average +0.026% · you sell dearer than you buy
Net, funding: paid 7d − costs−$83as in the Funding arb table
Net, price: spread back to 7d avg − costs−$86as in the Price arb table
costs, in and out, $10k−$840.837% of the position
Funding, last 7 days+0.009%+$1 on $10k
+Price spread, last 4 days (all we have)+0.129%+$13 · spread now 0.000%, 7d avg +0.026%
=Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and BloFin is 0.026% cheaper against Binance than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.026%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance ORCAUSDT | 1.5110 | 0.0100 | pay 0.0050% / 4h | 3m 03s | $3.5M | $5.5M | 50x |
| Short | BloFin ORCA-USDT | 1.5110 | 0.0041 | get 0.0021% / 4h | 3m 03s | $227K | $60K | 50x |
Binance ORCAUSDT
BloFin ORCA-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BloFin 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
- −$12.38
- Price spread: 0.000% → +0.026%
- −$2.59
- Slippage, 4 orders
- −$61.73
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee BloFin: 6 bp × 2 orders
- −$12
- Net
- −$98.71
- Costs to cover
- 0.837%
- Break-even
- never at this rate
Slippage from Binance: live order book, 5 min ago; BloFin: live order book, 28 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, 5 min ago | 3.31 bp | 15.7 bp −$16 | 84.2 bp −$842 | doesn't fit | doesn't fit |
| Sell BloFin live order book, 28 min ago | 3.30 bp | 33.0 bp −$33 | 71.9 bp −$719 | doesn't fit | doesn't fit |
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 | −0.0513% | 1h | 1.5117 | +0.048% | $9K | $13K | 10x | as long as short |
| BloFin ORCA-USDTshort | +0.0041% | 4h | 1.5110 | 0.000% | $227K | $60K | 50x | |
| BingX ORCA-USDT | +0.0070% | 4h | 1.5100 | −0.066% | — | $6.6M | — | as long as short |
| Aster ORCAUSDT | +0.0100% | 4h | 1.5101 | −0.058% | $44K | $39K | 5x | as long as short |
| Binance ORCAUSDTlong | +0.0100% | 4h | 1.5110 | long leg | $3.5M | $5.5M | 50x | |
| Bybit ORCAUSDT | +0.0100% | 4h | 1.5091 | −0.126% | $2.0M | $1.5M | 25x | as long as short |
| Gate ORCA_USDT | +0.0100% | 4h | 1.5104 | −0.040% | $127K | $38K | 25x | as long as short |
| MEXC ORCA_USDT | +0.0100% | 4h | 1.5100 | −0.066% | $703K | $125K | 20x | as long as short |
| Bitget ORCAUSDT | +0.0100% | 4h | 1.5100 | −0.066% | $669K | $642K | 25x | as long as short |
| Extended ORCA-USD | +0.0104% | 1h | 1.5106 | −0.029% | $2K | $128K | 5x | as long as short |
Kraken Futures PF_ORCAUSD
BingX ORCA-USDT
Aster ORCAUSDT
Bybit ORCAUSDT
Gate ORCA_USDT
MEXC ORCA_USDT
Bitget ORCAUSDT
Extended ORCA-USDShow all 12 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin ORCAUSDTM | +0.0108% | 4h | 1.5116 | +0.040% | $583K | $198K | 30x | as long as short |
| Variational Omni ORCA | +0.0318% | 4h | 1.5089 | −0.140% | $29K | $10K | — | as long as short |
KuCoin ORCAUSDTM
Variational Omni ORCA