Funding you earn now, next payment 00:00 UTC+0.0025%/8h= +2.7% APRnext payment +$0.13 per $10,000 · paid last 24h −0.074%
Price spread now: BloFin against Gate+0.106%7-day average +0.049% · you sell dearer than you buy
Net, funding: paid 7d − costs−$116as in the Funding arb table
Net, price: spread back to 7d avg − costs−$111as in the Price arb table
costs, in and out, $10k−$1171.169% of the position
Funding, last 7 days+0.005%$0 on $10k
+Price spread, last 3 days (all we have)−0.015%−$2 · spread now +0.106%, 7d avg +0.049%
=Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and BloFin is 0.057% dearer against Gate than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.049%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Gate ORCA_USDT | 1.5034 | 0.0100 | pay 0.0050% / 4h | 1h 50m | $126K | $46K | 25x |
| Short | BloFin ORCA-USDT | 1.5050 | 0.0125 | get 0.0063% / 4h | 1h 50m | $230K | $58K | 50x |
Gate ORCA_USDT
BloFin ORCA-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BloFin 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
- $5.25
- Price spread: +0.106% → +0.049%
- $5.72
- Slippage, 4 orders
- −$89.86
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Fee BloFin: 6 bp × 2 orders
- −$12
- Net
- −$105.89
- Costs to cover
- 1.169%
- Break-even
- 148.1 days
Slippage from Gate: live order book, 25 min ago; BloFin: 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 Gate live order book, 25 min ago | 8.30 bp | 36.7 bp −$37 | doesn't fit | doesn't fit | doesn't fit |
| Sell BloFin live order book, 25 min ago | 6.64 bp | 16.7 bp −$17 | 49.3 bp −$493 | 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 | −0.0177% | 1h | 1.5033 | −0.005% | $9K | $14K | 10x | as long as short |
| BingX ORCA-USDT | +0.0070% | 4h | 1.5030 | −0.027% | — | $6.6M | — | as long as short |
| Aster ORCAUSDT | +0.0100% | 4h | 1.5045 | +0.075% | $44K | $44K | 5x | as long as short |
| Binance ORCAUSDT | +0.0100% | 4h | 1.5024 | −0.066% | $3.5M | $5.3M | 50x | as long as short |
| Gate ORCA_USDTlong | +0.0100% | 4h | 1.5034 | long leg | $126K | $46K | 25x | |
| MEXC ORCA_USDT | +0.0100% | 4h | 1.5030 | −0.027% | $687K | $141K | 20x | as long as short |
| KuCoin ORCAUSDTM | +0.0100% | 4h | 1.5063 | +0.193% | $576K | $204K | 30x | as long as short |
| Bitget ORCAUSDT | +0.0100% | 4h | 1.5010 | −0.160% | $700K | $507K | 25x | as long as short |
| Extended ORCA-USD | +0.0104% | 1h | 1.5021 | −0.085% | $3K | $155K | 5x | as long as short |
| BloFin ORCA-USDTshort | +0.0125% | 4h | 1.5050 | +0.106% | $230K | $58K | 50x |
Kraken Futures PF_ORCAUSD
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 | |
|---|---|---|---|---|---|---|---|---|
| Bybit ORCAUSDT | +0.1904% | 4h | 1.4996 | −0.253% | $2.1M | $1.3M | 25x | as long as short |
| Variational Omni ORCA | +0.1968% | 4h | 1.5033 | −0.008% | $28K | $12K | — | as long as short |
Bybit ORCAUSDT
Variational Omni ORCA