Funding you earn now, next payment 08:00 UTC−0.0259%/8h= −28.4% APRnext payment −$1.30 per $10,000 · paid last 24h −0.300%
Price spread now: Gate against Bybit+0.321%7-day average −0.030% · you sell dearer than you buy
Net, funding: paid 7d − costs−$148as in the Funding arb table
Net, price: spread back to 7d avg − costs−$77as in the Price arb table
costs, in and out, $10k−$1121.123% of the position
Funding, last 7 days−0.353%−$35 on $10k
+Price spread, last 4 days (all we have)−0.382%−$38 · spread now +0.321%, 7d avg −0.030%
=The price spread pays, funding is against you. Gate is 0.351% dearer against Bybit than usual: you sell high and buy low (spread +0.321% now, against its 7-day average of −0.030%): +$35 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 4.5 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit ORCAUSDT | 1.4933 | 0.0359 | pay 0.0180% / 4h | 2h 43m | $2.0M | $1.5M | 25x |
| Short | Gate ORCA_USDT | 1.4981 | 0.0100 | get 0.0050% / 4h | 2h 43m | $125K | $36K | 25x |
Bybit ORCAUSDT
Gate ORCA_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Gate against Bybit. 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
- −$54.46
- Price spread: +0.321% → −0.030%
- $35.14
- Slippage, 4 orders
- −$86.31
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Net
- −$131.62
- Costs to cover
- 1.123%
- Break-even
- never at this rate
Slippage from Bybit: live order book, 3 min ago; Gate: live order book, 62 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 Bybit live order book, 3 min ago | 4.68 bp | 22.2 bp −$22 | 102.2 bp −$1,022 | doesn't fit | doesn't fit |
| Sell Gate live order book, 62 min ago | 13.21 bp | 34.7 bp −$35 | doesn't fit | 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 | −0.0006% | 1h | 1.4938 | +0.033% | $9K | $11K | 10x | as long as short |
| BloFin ORCA-USDT | +0.0065% | 4h | 1.4980 | +0.315% | $225K | $60K | 50x | as long as short |
| BingX ORCA-USDT | +0.0070% | 4h | 1.4960 | +0.181% | — | $6.6M | — | as long as short |
| Aster ORCAUSDT | +0.0100% | 4h | 1.4975 | +0.281% | $44K | $38K | 5x | as long as short |
| Binance ORCAUSDT | +0.0100% | 4h | 1.4950 | +0.114% | $3.5M | $5.6M | 50x | as long as short |
| Gate ORCA_USDTshort | +0.0100% | 4h | 1.4981 | +0.321% | $125K | $36K | 25x | |
| MEXC ORCA_USDT | +0.0100% | 4h | 1.4960 | +0.181% | $690K | $123K | 20x | as long as short |
| KuCoin ORCAUSDTM | +0.0100% | 4h | 1.4999 | +0.442% | $582K | $203K | 30x | as long as short |
| Bitget ORCAUSDT | +0.0100% | 4h | 1.4960 | +0.181% | $657K | $653K | 25x | as long as short |
| Extended ORCA-USD | +0.0104% | 1h | 1.4946 | +0.086% | $2K | $105K | 5x | as long as short |
Kraken Futures PF_ORCAUSD
BloFin ORCA-USDT
BingX ORCA-USDT
Aster ORCAUSDT
Binance ORCAUSDT
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 | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni ORCA | +0.0345% | 4h | 1.4965 | +0.217% | $29K | $10K | — | as long as short |
| Bybit ORCAUSDTlong | +0.0359% | 4h | 1.4933 | long leg | $2.0M | $1.5M | 25x |
Variational Omni ORCA