Funding you earn now, next payment 04:00 UTC−0.0030%/8h= −3.3% APRnext payment −$0.15 per $10,000 · paid last 24h +0.167%
Price spread now: BingX against Gate+0.040%7-day average +0.046% · you sell dearer than you buy
Net, funding: paid 7d − costs−$99as in the Funding arb table
Net, price: spread back to 7d avg − costs−$118as in the Price arb table
costs, in and out, $10k−$1171.172% of the position
Funding, last 7 days+0.185%+$19 on $10k
+Price spread, last 4 days (all we have)+0.105%+$11 · spread now +0.040%, 7d avg +0.046%
=The price spread sits at its 7-day average of +0.046%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.185%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Gate ORCA_USDT | 1.5164 | 0.0100 | pay 0.0050% / 4h | 1h 19m | $127K | $40K | 25x |
| Short | BingX ORCA-USDT | 1.5170 | 0.0070 | get 0.0035% / 4h | 1h 19m | — | $6.6M | — |
Gate ORCA_USDT
BingX ORCA-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BingX against Gate. 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
- −$6.3
- Price spread: +0.040% → +0.046%
- −$0.63
- Slippage, 4 orders
- −$92.16
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Fee BingX: 5 bp × 2 orders
- −$10
- Net
- −$124.09
- Costs to cover
- 1.172%
- Break-even
- never at this rate
Slippage from Gate: live order book, 35 min ago; BingX: live order book, 7 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 Gate live order book, 35 min ago | 12.21 bp | 32.3 bp −$32 | doesn't fit | doesn't fit | doesn't fit |
| Sell BingX live order book, 7 min ago | 9.94 bp | 22.4 bp −$22 | 64.3 bp −$643 | 713.3 bp −$71.3K | 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 | −0.0258% | 1h | 1.5174 | +0.065% | $9K | $13K | 10x | as long as short |
| BingX ORCA-USDTshort | +0.0070% | 4h | 1.5170 | +0.040% | — | $6.6M | — | |
| Aster ORCAUSDT | +0.0100% | 4h | 1.5183 | +0.125% | $44K | $41K | 5x | as long as short |
| Binance ORCAUSDT | +0.0100% | 4h | 1.5174 | +0.067% | $3.5M | $5.4M | 50x | as long as short |
| Gate ORCA_USDTlong | +0.0100% | 4h | 1.5164 | long leg | $127K | $40K | 25x | |
| MEXC ORCA_USDT | +0.0100% | 4h | 1.5170 | +0.040% | $700K | $126K | 20x | as long as short |
| Bitget ORCAUSDT | +0.0100% | 4h | 1.5180 | +0.106% | $682K | $615K | 25x | as long as short |
| Extended ORCA-USD | +0.0104% | 1h | 1.5170 | +0.037% | $3K | $130K | 5x | as long as short |
| BloFin ORCA-USDT | +0.0156% | 4h | 1.5190 | +0.171% | $227K | $60K | 50x | as long as short |
| Bybit ORCAUSDT | +0.0169% | 4h | 1.5159 | −0.033% | $2.1M | $1.5M | 25x | as long as short |
Kraken Futures PF_ORCAUSD
Aster ORCAUSDT
Binance ORCAUSDT
MEXC ORCA_USDT
Bitget ORCAUSDT
Extended ORCA-USD
BloFin ORCA-USDT
Bybit ORCAUSDTShow all 12 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin ORCAUSDTM | +0.0174% | 4h | 1.5206 | +0.277% | $589K | $204K | 30x | as long as short |
| Variational Omni ORCA | +0.0434% | 4h | 1.5172 | +0.051% | $29K | $10K | — | as long as short |
KuCoin ORCAUSDTM
Variational Omni ORCA