Funding you earn now, next payment 04:00 UTC−0.1158%/8h= −126.8% APRnext payment −$5.79 per $10,000 · paid last 24h −0.299%
Price spread now: MEXC against Bybit+0.079%7-day average −0.048% · you sell dearer than you buy
Net, funding: paid 7d − costs−$96as in the Funding arb table
Net, price: spread back to 7d avg − costs−$49as in the Price arb table
costs, in and out, $10k−$620.616% of the position
Funding, last 7 days−0.349%−$35 on $10k
+Price spread, last 4 days (all we have)−0.140%−$14 · spread now +0.079%, 7d avg −0.048%
=The price spread pays, funding is against you. MEXC is 0.127% dearer against Bybit than usual: you sell high and buy low (spread +0.079% now, against its 7-day average of −0.048%): +$13 on $10k if it goes back. Holding the pair costs −$35 a day in funding at the current rate, which eats that in about 9 hours. At the pace of the last 7 days (−0.349% in total) that is about 2.6 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.349% in total (about -18.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$5.79 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit ORCAUSDT | 1.5118 | 0.1258 | pay 0.0629% / 4h | 3h 40m | $2.1M | $1.4M | 25x |
| Short | MEXC ORCA_USDT | 1.5130 | 0.0100 | get 0.0050% / 4h | 3h 40m | $697K | $139K | 20x |
Bybit ORCAUSDT
MEXC ORCA_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
MEXC 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
- −$243.27
- Price spread: +0.079% → −0.048%
- $12.73
- Slippage, 4 orders
- −$46.58
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee MEXC: 2 bp × 2 orders
- −$4
- Net
- −$292.11
- Costs to cover
- 0.616%
- Break-even
- never at this rate
Slippage from Bybit: live order book, 2 min ago; MEXC: live order book, 25 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, 2 min ago | 3.64 bp | 21.7 bp −$22 | 119.3 bp −$1,193 | doesn't fit | doesn't fit |
| Sell MEXC live order book, 25 min ago | 3.31 bp | 9.2 bp −$9 | 32.4 bp −$324 | 361.6 bp −$36.2K | 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 | −0.0411% | 1h | 1.5142 | +0.157% | $9K | $14K | 10x | as long as short |
| BingX ORCA-USDT | +0.0070% | 4h | 1.5140 | +0.146% | — | $6.6M | — | as long as short |
| Aster ORCAUSDT | +0.0100% | 4h | 1.5162 | +0.292% | $44K | $44K | 5x | as long as short |
| Binance ORCAUSDT | +0.0100% | 4h | 1.5140 | +0.146% | $3.5M | $5.5M | 50x | as long as short |
| Gate ORCA_USDT | +0.0100% | 4h | 1.5123 | +0.033% | $125K | $46K | 25x | as long as short |
| MEXC ORCA_USDTshort | +0.0100% | 4h | 1.5130 | +0.079% | $697K | $139K | 20x | |
| KuCoin ORCAUSDTM | +0.0100% | 4h | 1.5157 | +0.258% | $581K | $207K | 30x | as long as short |
| Bitget ORCAUSDT | +0.0100% | 4h | 1.5150 | +0.212% | $689K | $571K | 25x | as long as short |
| Extended ORCA-USD | +0.0104% | 1h | 1.5126 | +0.054% | $3K | $157K | 5x | as long as short |
| BloFin ORCA-USDT | +0.0113% | 4h | 1.5130 | +0.079% | $228K | $59K | 50x | as long as short |
Kraken Futures PF_ORCAUSD
BingX ORCA-USDT
Aster ORCAUSDT
Binance ORCAUSDT
Gate 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 | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni ORCA | +0.1176% | 4h | 1.5101 | −0.115% | $28K | $12K | — | as long as short |
| Bybit ORCAUSDTlong | +0.1258% | 4h | 1.5118 | long leg | $2.1M | $1.4M | 25x |
Variational Omni ORCA