Funding you earn now, next payment 04:00 UTC+0.0023%/8h= +2.5% APRnext payment +$0.11 per $10,000 · paid last 24h +0.229%
Price spread now: BingX against BloFin−0.328%111s7-day average 0.000% · you buy dearer than you sell
Net, funding: paid 7d − costs−$52as 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−$690.692% of the position
Funding, last 7 days+0.176%+$18 on $10k
+Price spread, last 3 days (all we have)+0.355%+$35 · spread now −0.328%, 7d avg 0.000%
=Funding pays, the price is against you. BingX is 0.327% cheaper against BloFin than usual: you would sell low and buy high (spread −0.328% now, against its 7-day average of 0.000%). If the spread goes back, that is −$33 on $10k: about 48 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.176% in total) that is about 13 days. The two prices were read 111 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 | BloFin ORCA-USDT | 1.5250 | 0.0047 | pay 0.0024% / 4h | 3h 17m | $228K | $60K | 50x |
| Short | BingX ORCA-USDT | 1.5200 | 0.0070 | get 0.0035% / 4h | 3h 17m | — | $6.6M | — |
BloFin ORCA-USDT
BingX ORCA-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BingX against BloFin. 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
- $4.78
- Price spread: −0.328% → 0.000%
- −$32.75
- Slippage, 4 orders
- −$47.22
- Fee BloFin: 6 bp × 2 orders
- −$12
- Fee BingX: 5 bp × 2 orders
- −$10
- Net
- −$97.18
- Costs to cover
- 0.692%
- Break-even
- 149.2 days
Slippage from BloFin: live order book, 48 min ago; BingX: 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 BloFin live order book, 48 min ago | 3.31 bp | 15.7 bp −$16 | 37.0 bp −$370 | doesn't fit | doesn't fit |
| Sell BingX live order book, 5 min ago | 6.57 bp | 16.5 bp −$16 | 61.5 bp −$615 | 654.4 bp −$65.4K | 1281.1 bp −$640.6K |
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 | −0.0408% | 1h | 1.5222 | −0.185% | $9K | $14K | 10x | as long as short |
| BloFin ORCA-USDTlong | +0.0047% | 4h | 1.5250 | long leg | $228K | $60K | 50x | |
| BingX ORCA-USDTshort | +0.0070% | 4h | 1.5200 | −0.328% | — | $6.6M | — | |
| Aster ORCAUSDT | +0.0100% | 4h | 1.5211 | −0.259% | $45K | $44K | 5x | as long as short |
| Binance ORCAUSDT | +0.0100% | 4h | 1.5220 | −0.197% | $3.5M | $5.6M | 50x | as long as short |
| Gate ORCA_USDT | +0.0100% | 4h | 1.5211 | −0.256% | $128K | $47K | 25x | as long as short |
| MEXC ORCA_USDT | +0.0100% | 4h | 1.5220 | −0.197% | $705K | $142K | 20x | as long as short |
| KuCoin ORCAUSDTM | +0.0100% | 4h | 1.5236 | −0.092% | $593K | $209K | 30x | as long as short |
| Bitget ORCAUSDT | +0.0100% | 4h | 1.5210 | −0.262% | $676K | $595K | 25x | as long as short |
| Extended ORCA-USD | +0.0104% | 1h | 1.5216 | −0.222% | $2K | $122K | 5x | as long as short |
Kraken Futures PF_ORCAUSD
Aster ORCAUSDT
Binance 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 | +0.0234% | 4h | 1.5195 | −0.361% | $2.1M | $1.4M | 25x | as long as short |
| Variational Omni ORCA | +0.0966% | 4h | 1.5186 | −0.416% | $28K | $12K | — | as long as short |
Bybit ORCAUSDT
Variational Omni ORCA