Funding you earn now, next payment 00:00 UTC+0.1488%/8h= +162.9% APRpaid last 24h −4.959%
Price spread now: Bybit against Kraken Futures−0.265%7-day average — · you buy dearer than you sell
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
Funding pays, the price is against you. Bybit is 0.265% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.265% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$26 on $10k: about 14 hours of funding at the current rate (+$45 a day).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_ORCAUSD | 1.5130 | −0.0440 | get 0.0055% / 1h | 3m 45s | $9K | $14K | 10x |
| Short | Bybit ORCAUSDT | 1.5090 | 0.1047 | get 0.0524% / 4h | 3m 45s | $2.1M | $1.4M | 25x |
Kraken Futures PF_ORCAUSD
Bybit ORCAUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit 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
- $312.45
- Price spread: −0.265% → 0.000%
- −$26.46
- Slippage, 4 orders
- no order book: not counted
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- $264.99
- Costs to cover
- 0.210%
- Break-even
- 1.1 days
Slippage unknown: Kraken Futures: no order-book sample; Bybit: live order book, 3 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 Bybit live order book, 3 min ago | 5.31 bp | 24.8 bp −$25 | 120.9 bp −$1,209 | 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 | −0.0440% | 1h | 1.5130 | long leg | $9K | $14K | 10x | |
| BingX ORCA-USDT | +0.0070% | 4h | 1.5130 | 0.000% | — | $6.6M | — | as long as short |
| Aster ORCAUSDT | +0.0100% | 4h | 1.5106 | −0.160% | $44K | $44K | 5x | as long as short |
| Binance ORCAUSDT | +0.0100% | 4h | 1.5125 | −0.033% | $3.5M | $5.5M | 50x | as long as short |
| Gate ORCA_USDT | +0.0100% | 4h | 1.5117 | −0.086% | $127K | $46K | 25x | as long as short |
| MEXC ORCA_USDT | +0.0100% | 4h | 1.5120 | −0.066% | $705K | $141K | 20x | as long as short |
| KuCoin ORCAUSDTM | +0.0100% | 4h | 1.5145 | +0.099% | $582K | $207K | 30x | as long as short |
| Bitget ORCAUSDT | +0.0100% | 4h | 1.5140 | +0.066% | $687K | $573K | 25x | as long as short |
| Extended ORCA-USD | +0.0104% | 1h | 1.5122 | −0.053% | $3K | $155K | 5x | as long as short |
| BloFin ORCA-USDT | +0.0160% | 4h | 1.5100 | −0.198% | $227K | $60K | 50x | as long as short |
BingX ORCA-USDT
Aster ORCAUSDT
Binance 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 | |
|---|---|---|---|---|---|---|---|---|
| Bybit ORCAUSDTshort | +0.1047% | 4h | 1.5090 | −0.265% | $2.1M | $1.4M | 25x | |
| Variational Omni ORCA | +0.1233% | 4h | 1.5074 | −0.371% | $28K | $12K | — | as long as short |
Variational Omni ORCA