Funding you earn now, next payment 06:00 UTC+0.0106%/8h= +11.6% APRpaid last 24h −3.280%
Price spread now: Binance against Kraken Futures+0.103%7-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
Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Binance is 0.103% dearer against Kraken Futures than usual: you sell high and buy low: +$10 more if the spread goes back to zero (this spread has no 7-day history yet).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_ORCAUSD | 1.4908 | −0.0006 | get 0.0001% / 1h | 21m 46s | $9K | $10K | 10x |
| Short | Binance ORCAUSDT | 1.4924 | 0.0100 | get 0.0050% / 4h | 2h 21m | $3.4M | $5.6M | 50x |
Kraken Futures PF_ORCAUSD
Binance ORCAUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Kraken Futures. 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
- $22.16
- Price spread: +0.103% → 0.000%
- $10.28
- Slippage, 4 orders
- no order book: not counted
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- $12.45
- Costs to cover
- 0.200%
- Break-even
- 3.1 days
Slippage unknown: Kraken Futures: no order-book sample; Binance: live order book, 1 min ago. 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 Kraken Futures no order-book sample | — | — | — | — | — |
| Sell Binance live order book, 1 min ago | 3.36 bp | 17.4 bp −$17 | 69.1 bp −$691 | doesn't fit | doesn't fit |
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_ORCAUSDlong | −0.0006% | 1h | 1.4908 | long leg | $9K | $10K | 10x | |
| BingX ORCA-USDT | +0.0070% | 4h | 1.4910 | +0.010% | — | $6.6M | — | as long as short |
| Aster ORCAUSDT | +0.0100% | 4h | 1.4910 | +0.008% | $44K | $38K | 5x | as long as short |
| Binance ORCAUSDTshort | +0.0100% | 4h | 1.4924 | +0.103% | $3.4M | $5.6M | 50x | |
| Gate ORCA_USDT | +0.0100% | 4h | 1.4892 | −0.110% | $124K | $37K | 25x | as long as short |
| MEXC ORCA_USDT | +0.0100% | 4h | 1.4920 | +0.077% | $690K | $124K | 20x | as long as short |
| KuCoin ORCAUSDTM | +0.0100% | 4h | 1.4931 | +0.151% | $579K | $203K | 30x | as long as short |
| Bitget ORCAUSDT | +0.0100% | 4h | 1.4940 | +0.212% | $653K | $671K | 25x | as long as short |
| Extended ORCA-USD | +0.0104% | 1h | 1.4926 | +0.118% | $3K | $105K | 5x | as long as short |
| BloFin ORCA-USDT | +0.0109% | 4h | 1.4850 | −0.392% | $222K | $60K | 50x | as long as short |
BingX ORCA-USDT
Aster 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 | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni ORCA | +0.0286% | 4h | 1.4849 | −0.399% | $28K | $9K | — | as long as short |
| Bybit ORCAUSDT | +0.0450% | 4h | 1.4927 | +0.124% | $2.0M | $1.5M | 25x | as long as short |
Variational Omni ORCA
Bybit ORCAUSDT