Funding you earn now, next payment 04:00 UTC−0.0148%/8h= −16.2% APRnext payment −$0.74 per $10,000 · paid last 24h +0.140%
Price spread now: BingX against KuCoin−0.111%7-day average −0.051% · you buy dearer than you sell
Net, funding: paid 7d − costs−$501as in the Funding arb table
Net, price: spread back to 7d avg − costs−$516as in the Price arb table
costs, in and out, $10k−$5105.100% of the position
Funding, last 7 days+0.090%+$9 on $10k
+Price spread, last 4 days (all we have)+0.070%+$7 · spread now −0.111%, 7d avg −0.051%
=Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and BingX is 0.060% cheaper against KuCoin than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.051%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.090%, 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 | KuCoin ORCAUSDTM | 1.5277 | 0.0218 | pay 0.0109% / 4h | 1h 14m | $593K | $205K | 30x |
| Short | BingX ORCA-USDT | 1.5260 | 0.0070 | get 0.0035% / 4h | 1h 14m | — | $6.6M | — |
KuCoin ORCAUSDTM
BingX ORCA-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BingX against KuCoin. 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
- −$31.08
- Price spread: −0.111% → −0.051%
- −$5.99
- Slippage, 4 orders
- −$487.99
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Fee BingX: 5 bp × 2 orders
- −$10
- Net
- −$547.06
- Costs to cover
- 5.100%
- Break-even
- never at this rate
Slippage from KuCoin: live order book, 9 min ago; BingX: live order book, 3 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 KuCoin live order book, 9 min ago | 9.21 bp | 289.1 bp −$289 | doesn't fit | doesn't fit | doesn't fit |
| Sell BingX live order book, 3 min ago | 9.88 bp | 22.9 bp −$23 | 65.2 bp −$652 | 726.4 bp −$72.6K | 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 | −0.0256% | 1h | 1.5275 | −0.015% | $10K | $13K | 10x | as long as short |
| BingX ORCA-USDTshort | +0.0070% | 4h | 1.5260 | −0.111% | — | $6.6M | — | |
| Aster ORCAUSDT | +0.0100% | 4h | 1.5270 | −0.046% | $45K | $39K | 5x | as long as short |
| Binance ORCAUSDT | +0.0100% | 4h | 1.5250 | −0.177% | $3.5M | $5.5M | 50x | as long as short |
| Gate ORCA_USDT | +0.0100% | 4h | 1.5266 | −0.072% | $128K | $40K | 25x | as long as short |
| MEXC ORCA_USDT | +0.0100% | 4h | 1.5250 | −0.177% | $704K | $126K | 20x | as long as short |
| Bitget ORCAUSDT | +0.0100% | 4h | 1.5240 | −0.242% | $680K | $636K | 25x | as long as short |
| Extended ORCA-USD | +0.0104% | 1h | 1.5243 | −0.223% | $2K | $130K | 5x | as long as short |
| BloFin ORCA-USDT | +0.0143% | 4h | 1.5290 | +0.085% | $229K | $60K | 50x | as long as short |
| KuCoin ORCAUSDTMlong | +0.0218% | 4h | 1.5277 | long leg | $593K | $205K | 30x |
Kraken Futures PF_ORCAUSD
Aster ORCAUSDT
Binance ORCAUSDT
Gate ORCA_USDT
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 | |
|---|---|---|---|---|---|---|---|---|
| Bybit ORCAUSDT | +0.0232% | 4h | 1.5250 | −0.177% | $2.1M | $1.5M | 25x | as long as short |
| Variational Omni ORCA | +0.0475% | 4h | 1.5256 | −0.137% | $29K | $10K | — | as long as short |
Bybit ORCAUSDT
Variational Omni ORCA