Funding you earn now, next payment 04:00 UTC−0.0021%/8h= −2.3% APRnext payment −$0.11 per $10,000 · paid last 24h −0.229%
Price spread now: BloFin against BingX−0.198%66s7-day average 0.000% · you buy dearer than you sell
Net, funding: paid 7d − costs−$88as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$700.703% of the position
Funding, last 7 days−0.176%−$18 on $10k
+Price spread, last 3 days (all we have)+0.171%+$17 · spread now −0.198%, 7d avg 0.000%
=Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and BloFin is 0.198% cheaper against BingX than usual: you would sell low and buy high (−$20 if the spread goes back to its 7-day average of 0.000%). Swap the legs. The two prices were read 66 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | BingX ORCA-USDT | 1.5160 | 0.0070 | pay 0.0035% / 4h | 3h 32m | — | $6.6M | — |
| Short | BloFin ORCA-USDT | 1.5130 | 0.0049 | get 0.0024% / 4h | 3h 32m | $227K | $59K | 50x |
BingX ORCA-USDT
BloFin ORCA-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BloFin against BingX. 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
- −$4.44
- Price spread: −0.198% → 0.000%
- −$19.83
- Slippage, 4 orders
- −$48.31
- Fee BingX: 5 bp × 2 orders
- −$10
- Fee BloFin: 6 bp × 2 orders
- −$12
- Net
- −$94.58
- Costs to cover
- 0.703%
- Break-even
- never at this rate
Slippage from BingX: live order book, 5 min ago; BloFin: live order book, 33 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 BingX live order book, 5 min ago | 6.62 bp | 19.4 bp −$19 | 56.7 bp −$567 | 629.8 bp −$63.0K | 1193.0 bp −$596.5K |
| Sell BloFin live order book, 33 min ago | 3.31 bp | 16.3 bp −$16 | 52.7 bp −$527 | 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 | −0.0410% | 1h | 1.5151 | −0.058% | $9K | $14K | 10x | as long as short |
| BloFin ORCA-USDTshort | +0.0049% | 4h | 1.5130 | −0.198% | $227K | $59K | 50x | |
| BingX ORCA-USDTlong | +0.0070% | 4h | 1.5160 | long leg | — | $6.6M | — | |
| Aster ORCAUSDT | +0.0100% | 4h | 1.5151 | −0.062% | $44K | $44K | 5x | as long as short |
| Binance ORCAUSDT | +0.0100% | 4h | 1.5140 | −0.130% | $3.5M | $5.5M | 50x | as long as short |
| Gate ORCA_USDT | +0.0100% | 4h | 1.5128 | −0.211% | $125K | $46K | 25x | as long as short |
| MEXC ORCA_USDT | +0.0100% | 4h | 1.5140 | −0.132% | $697K | $140K | 20x | as long as short |
| KuCoin ORCAUSDTM | +0.0100% | 4h | 1.5162 | +0.013% | $584K | $207K | 30x | as long as short |
| Bitget ORCAUSDT | +0.0100% | 4h | 1.5140 | −0.132% | $687K | $571K | 25x | as long as short |
| Extended ORCA-USD | +0.0104% | 1h | 1.5143 | −0.110% | $3K | $157K | 5x | as long as short |
Kraken Futures PF_ORCAUSD
Aster ORCAUSDT
Binance ORCAUSDT
Gate ORCA_USDT
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 | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni ORCA | +0.1087% | 4h | 1.5095 | −0.431% | $28K | $12K | — | as long as short |
| Bybit ORCAUSDT | +0.1314% | 4h | 1.5130 | −0.198% | $2.1M | $1.4M | 25x | as long as short |
Variational Omni ORCA
Bybit ORCAUSDT