Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.299%
Price spread now: Bybit against Gate−0.139%7-day average +0.035% · you buy dearer than you sell
Net, funding: paid 7d − costs−$80as in the Funding arb table
Net, price: spread back to 7d avg − costs−$133as in the Price arb table
costs, in and out, $10k−$1161.155% of the position
Funding, last 7 days+0.352%+$35 on $10k
+Price spread, last 4 days (all we have)+0.270%+$27 · spread now −0.139%, 7d avg +0.035%
=Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.174% cheaper against Gate than usual: you would sell low and buy high, −$17 on $10k if it goes back to its 7-day average of +0.035%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Gate ORCA_USDT | 1.5141 | 0.0100 | pay 0.0050% / 4h | 56m 30s | $127K | $37K | 25x |
| Short | Bybit ORCAUSDT | 1.5120 | 0.0100 | get 0.0050% / 4h | 56m 30s | $2.0M | $1.5M | 25x |
Gate ORCA_USDT
Bybit ORCAUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit 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
- $0
- Price spread: −0.139% → +0.035%
- −$17.4
- Slippage, 4 orders
- −$89.51
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$132.92
- Costs to cover
- 1.155%
- Break-even
- never at this rate
Slippage from Gate: live order book, 59 min ago; Bybit: live order book, 5 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, 59 min ago | 12.21 bp | 32.3 bp −$32 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bybit live order book, 5 min ago | 4.30 bp | 19.7 bp −$20 | 99.5 bp −$995 | 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 | −0.0512% | 1h | 1.5127 | −0.092% | $9K | $13K | 10x | as long as short |
| BingX ORCA-USDT | +0.0070% | 4h | 1.5140 | −0.007% | — | $6.6M | — | as long as short |
| Aster ORCAUSDT | +0.0100% | 4h | 1.5137 | −0.027% | $44K | $39K | 5x | as long as short |
| Binance ORCAUSDT | +0.0100% | 4h | 1.5140 | −0.007% | $3.5M | $5.5M | 50x | as long as short |
| Bybit ORCAUSDTshort | +0.0100% | 4h | 1.5120 | −0.139% | $2.0M | $1.5M | 25x | |
| Gate ORCA_USDTlong | +0.0100% | 4h | 1.5141 | long leg | $127K | $37K | 25x | |
| MEXC ORCA_USDT | +0.0100% | 4h | 1.5130 | −0.073% | $699K | $121K | 20x | as long as short |
| Bitget ORCAUSDT | +0.0100% | 4h | 1.5140 | −0.007% | $674K | $637K | 25x | as long as short |
| Extended ORCA-USD | +0.0104% | 1h | 1.5136 | −0.030% | $2K | $130K | 5x | as long as short |
| BloFin ORCA-USDT | +0.0121% | 4h | 1.5080 | −0.403% | $228K | $59K | 50x | as long as short |
Kraken Futures PF_ORCAUSD
BingX ORCA-USDT
Aster ORCAUSDT
Binance ORCAUSDT
MEXC ORCA_USDT
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 | |
|---|---|---|---|---|---|---|---|---|
| KuCoin ORCAUSDTM | +0.0206% | 4h | 1.5161 | +0.132% | $586K | $204K | 30x | as long as short |
| Variational Omni ORCA | +0.0374% | 4h | 1.5130 | −0.076% | $29K | $10K | — | as long as short |
KuCoin ORCAUSDTM
Variational Omni ORCA