Funding you earn now, next payment 23:00 UTC−0.1558%/8h= −170.6% APRpaid last 24h +4.942%
Price spread now: Kraken Futures against Bybit+0.196%55s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
The price spread pays, funding is against you. Kraken Futures is 0.196% dearer against Bybit than usual: you sell high and buy low (spread +0.196% now, against zero (this spread has no 7-day history yet)): +$20 on $10k if it goes back. Holding the pair costs −$47 a day in funding at the current rate, which eats that in about 10 hours. The two prices were read 55 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 | Bybit ORCAUSDT | 1.5027 | 0.1381 | pay 0.0691% / 4h | 1h 09m | $2.1M | $1.3M | 25x |
| Short | Kraken Futures PF_ORCAUSD | 1.5056 | −0.0177 | pay 0.0022% / 1h | 9m 24s | $9K | $14K | 10x |
Bybit ORCAUSDT
Kraken Futures PF_ORCAUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures 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
- −$327.2
- Price spread: +0.196% → 0.000%
- $19.59
- Slippage, 4 orders
- no order book: not counted
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$328.61
- Costs to cover
- 0.210%
- Break-even
- never at this rate
Slippage unknown: Bybit: live order book, 2 min ago; Kraken Futures: no order-book sample. Net counts fees only.
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, 2 min ago | 4.99 bp | 23.4 bp −$23 | 140.1 bp −$1,401 | doesn't fit | doesn't fit |
| Sell Kraken Futures no order-book sample | — | — | — | — | — |
Kraken Futures: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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_ORCAUSDshort | −0.0177% | 1h | 1.5056 | +0.196% | $9K | $14K | 10x | |
| BingX ORCA-USDT | +0.0070% | 4h | 1.5070 | +0.286% | — | $6.6M | — | as long as short |
| Aster ORCAUSDT | +0.0100% | 4h | 1.5065 | +0.251% | $44K | $44K | 5x | as long as short |
| Binance ORCAUSDT | +0.0100% | 4h | 1.5060 | +0.220% | $3.5M | $5.5M | 50x | as long as short |
| Gate ORCA_USDT | +0.0100% | 4h | 1.5061 | +0.226% | $126K | $47K | 25x | as long as short |
| MEXC ORCA_USDT | +0.0100% | 4h | 1.5060 | +0.220% | $702K | $146K | 20x | as long as short |
| KuCoin ORCAUSDTM | +0.0100% | 4h | 1.5080 | +0.353% | $575K | $206K | 30x | as long as short |
| Bitget ORCAUSDT | +0.0100% | 4h | 1.5060 | +0.220% | $701K | $554K | 25x | as long as short |
| Extended ORCA-USD | +0.0104% | 1h | 1.5057 | +0.199% | $3K | $155K | 5x | as long as short |
| BloFin ORCA-USDT | +0.0140% | 4h | 1.5060 | +0.220% | $230K | $59K | 50x | as long as short |
BingX ORCA-USDT
Aster ORCAUSDT
Binance ORCAUSDT
Gate ORCA_USDT
MEXC ORCA_USDT
KuCoin ORCAUSDTM
Bitget ORCAUSDT
Extended ORCA-USD
BloFin ORCA-USDTShow all 12 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit ORCAUSDTlong | +0.1381% | 4h | 1.5027 | long leg | $2.1M | $1.3M | 25x | |
| Variational Omni ORCA | +0.1697% | 4h | 1.5031 | +0.030% | $28K | $12K | — | as long as short |
Variational Omni ORCA