Funding you earn now, next payment 00:00 UTC−0.0033%/8h= −3.6% APRnext payment −$0.17 per $10,000 · paid last 24h −0.074%
Price spread now: BloFin against Bitget+0.199%105s7-day average +0.041% · you sell dearer than you buy
Net, funding: paid 7d − costs−$94as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$900.895% of the position
Funding, last 7 days−0.040%−$4 on $10k
+Price spread, last 3 days (all we have)−0.096%−$10 · spread now +0.199%, 7d avg +0.041%
=The price spread pays, funding is against you. BloFin is 0.157% dearer against Bitget than usual: you sell high and buy low (spread +0.199% now, against its 7-day average of +0.041%): +$16 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 16 days. The two prices were read 105 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bitget ORCAUSDT | 1.5090 | 0.0100 | pay 0.0050% / 4h | 2h 39m | $707K | $507K | 25x |
| Short | BloFin ORCA-USDT | 1.5120 | 0.0067 | get 0.0033% / 4h | 2h 39m | $235K | $58K | 50x |
Bitget ORCAUSDT
BloFin ORCA-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BloFin against Bitget. 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
- −$6.94
- Price spread: +0.199% → +0.041%
- $15.74
- Slippage, 4 orders
- −$65.54
- Fee Bitget: 6 bp × 2 orders
- −$12
- Fee BloFin: 6 bp × 2 orders
- −$12
- Net
- −$80.75
- Costs to cover
- 0.895%
- Break-even
- never at this rate
Slippage from Bitget: live order book, 46 min ago; BloFin: live order book, 43 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 Bitget live order book, 46 min ago | 6.62 bp | 20.5 bp −$20 | 75.8 bp −$758 | doesn't fit | doesn't fit |
| Sell BloFin live order book, 43 min ago | 6.62 bp | 24.9 bp −$25 | 50.1 bp −$501 | 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 | −0.0789% | 1h | 1.5126 | +0.236% | $9K | $15K | 10x | as long as short |
| BloFin ORCA-USDTshort | +0.0067% | 4h | 1.5120 | +0.199% | $235K | $58K | 50x | |
| BingX ORCA-USDT | +0.0070% | 4h | 1.5100 | +0.066% | — | $6.6M | — | as long as short |
| Aster ORCAUSDT | +0.0100% | 4h | 1.5123 | +0.218% | $44K | $45K | 5x | as long as short |
| Binance ORCAUSDT | +0.0100% | 4h | 1.5109 | +0.126% | $3.5M | $5.2M | 50x | as long as short |
| Gate ORCA_USDT | +0.0100% | 4h | 1.5116 | +0.172% | $127K | $45K | 25x | as long as short |
| MEXC ORCA_USDT | +0.0100% | 4h | 1.5100 | +0.066% | $692K | $146K | 20x | as long as short |
| KuCoin ORCAUSDTM | +0.0100% | 4h | 1.5122 | +0.212% | $579K | $203K | 30x | as long as short |
| Bitget ORCAUSDTlong | +0.0100% | 4h | 1.5090 | long leg | $707K | $507K | 25x | |
| Extended ORCA-USD | +0.0104% | 1h | 1.5110 | +0.133% | $3K | $155K | 5x | as long as short |
Kraken Futures PF_ORCAUSD
BingX ORCA-USDT
Aster ORCAUSDT
Binance ORCAUSDT
Gate ORCA_USDT
MEXC ORCA_USDT
KuCoin ORCAUSDTM
Extended ORCA-USDShow all 12 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit ORCAUSDT | +0.1631% | 4h | 1.5064 | −0.172% | $2.1M | $1.3M | 25x | as long as short |
| Variational Omni ORCA | +0.1900% | 4h | 1.5083 | −0.049% | $29K | $11K | — | as long as short |
Bybit ORCAUSDT
Variational Omni ORCA