Funding you earn now, next payment 04:00 UTC+0.0030%/8h= +3.3% APRnext payment +$0.15 per $10,000 · paid last 24h +0.132%
Price spread now: Bybit against BingX−0.053%7-day average +0.011% · you buy dearer than you sell
Net, funding: paid 7d − costs−$83as in the Funding arb table
Net, price: spread back to 7d avg − costs−$106as in the Price arb table
costs, in and out, $10k−$1000.997% of the position
Funding, last 7 days+0.166%+$17 on $10k
+Price spread, last 7 days+0.116%+$12 · spread now −0.053%, 7d avg +0.011%
=Funding pays, the price is against you. Bybit is 0.064% cheaper against BingX than usual: you would sell low and buy high (spread −0.053% now, against its 7-day average of +0.011%). If the spread goes back, that is −$6 on $10k: about 7.1 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.166% in total) that is about 2.7 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | BingX ORCA-USDT | 1.5110 | 0.0070 | pay 0.0035% / 4h | 1h 35m | — | $6.6M | — |
| Short | Bybit ORCAUSDT | 1.5102 | 0.0100 | get 0.0050% / 4h | 1h 35m | $2.1M | $1.5M | 25x |
BingX ORCA-USDT
Bybit ORCAUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit 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
- $6.3
- Price spread: −0.053% → +0.011%
- −$6.39
- Slippage, 4 orders
- −$78.69
- Fee BingX: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$99.78
- Costs to cover
- 0.997%
- Break-even
- 117.9 days
Slippage from BingX: live order book, 2 min ago; Bybit: live order book, 1 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, 2 min ago | 9.94 bp | 25.7 bp −$26 | 68.8 bp −$688 | 687.0 bp −$68.7K | 1225.0 bp −$612.5K |
| Sell Bybit live order book, 1 min ago | 5.63 bp | 29.4 bp −$29 | 125.0 bp −$1,250 | 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 | −0.0258% | 1h | 1.5132 | +0.147% | $9K | $13K | 10x | as long as short |
| BingX ORCA-USDTlong | +0.0070% | 4h | 1.5110 | long leg | — | $6.6M | — | |
| Aster ORCAUSDT | +0.0100% | 4h | 1.5128 | +0.117% | $44K | $41K | 5x | as long as short |
| Binance ORCAUSDT | +0.0100% | 4h | 1.5119 | +0.061% | $3.4M | $5.4M | 50x | as long as short |
| Bybit ORCAUSDTshort | +0.0100% | 4h | 1.5102 | −0.053% | $2.1M | $1.5M | 25x | |
| Gate ORCA_USDT | +0.0100% | 4h | 1.5123 | +0.086% | $127K | $40K | 25x | as long as short |
| MEXC ORCA_USDT | +0.0100% | 4h | 1.5120 | +0.066% | $700K | $125K | 20x | as long as short |
| Bitget ORCAUSDT | +0.0100% | 4h | 1.5110 | 0.000% | $680K | $611K | 25x | as long as short |
| BloFin ORCA-USDT | +0.0103% | 4h | 1.5120 | +0.066% | $226K | $59K | 50x | as long as short |
| Extended ORCA-USD | +0.0104% | 1h | 1.5115 | +0.033% | $3K | $130K | 5x | as long as short |
Kraken Futures PF_ORCAUSD
Aster ORCAUSDT
Binance ORCAUSDT
Gate ORCA_USDT
MEXC ORCA_USDT
Bitget ORCAUSDT
BloFin ORCA-USDT
Extended ORCA-USDShow all 12 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin ORCAUSDTM | +0.0200% | 4h | 1.5145 | +0.232% | $581K | $204K | 30x | as long as short |
| Variational Omni ORCA | +0.0444% | 4h | 1.5122 | +0.080% | $29K | $10K | — | as long as short |
KuCoin ORCAUSDTM
Variational Omni ORCA