Funding you earn now, next payment 00:00 UTC+0.0030%/8h= +3.3% APRnext payment +$0.15 per $10,000 · paid last 24h −0.168%
Price spread now: Gate against BingX+0.139%7-day average −0.053% · you sell dearer than you buy
Net, funding: paid 7d − costs−$160as in the Funding arb table
Net, price: spread back to 7d avg − costs−$122as in the Price arb table
costs, in and out, $10k−$1411.411% of the position
Funding, last 7 days−0.187%−$19 on $10k
+Price spread, last 4 days (all we have)−0.256%−$26 · spread now +0.139%, 7d avg −0.053%
=Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Gate is 0.192% dearer against BingX than usual: you sell high and buy low: +$19 more if the spread goes back to its 7-day average of −0.053%. Mind the row above: over the last 7 days funding on this pair cost −0.187%, so the current rate has only just turned in your favour.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | BingX ORCA-USDT | 1.5080 | 0.0070 | pay 0.0035% / 4h | 2h 25m | — | $6.6M | — |
| Short | Gate ORCA_USDT | 1.5101 | 0.0100 | get 0.0050% / 4h | 2h 25m | $127K | $46K | 25x |
BingX ORCA-USDT
Gate ORCA_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Gate 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: +0.139% → −0.053%
- $19.2
- Slippage, 4 orders
- −$116.11
- Fee BingX: 5 bp × 2 orders
- −$10
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Net
- −$115.61
- Costs to cover
- 1.411%
- Break-even
- 135.5 days
Slippage from BingX: live order book, 7 min ago; Gate: live order book, 57 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, 7 min ago | 9.95 bp | 24.7 bp −$25 | 60.9 bp −$609 | 716.8 bp −$71.7K | 1278.2 bp −$639.1K |
| Sell Gate live order book, 57 min ago | 10.59 bp | 48.9 bp −$49 | doesn't fit | 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 | −0.0790% | 1h | 1.5103 | +0.153% | $9K | $15K | 10x | as long as short |
| BingX ORCA-USDTlong | +0.0070% | 4h | 1.5080 | long leg | — | $6.6M | — | |
| Aster ORCAUSDT | +0.0100% | 4h | 1.5101 | +0.141% | $44K | $44K | 5x | as long as short |
| Binance ORCAUSDT | +0.0100% | 4h | 1.5090 | +0.066% | $3.5M | $5.3M | 50x | as long as short |
| Gate ORCA_USDTshort | +0.0100% | 4h | 1.5101 | +0.139% | $127K | $46K | 25x | |
| MEXC ORCA_USDT | +0.0100% | 4h | 1.5090 | +0.066% | $691K | $147K | 20x | as long as short |
| KuCoin ORCAUSDTM | +0.0100% | 4h | 1.5119 | +0.259% | $578K | $204K | 30x | as long as short |
| Bitget ORCAUSDT | +0.0100% | 4h | 1.5080 | 0.000% | $707K | $507K | 25x | as long as short |
| Extended ORCA-USD | +0.0104% | 1h | 1.5088 | +0.054% | $3K | $155K | 5x | as long as short |
| BloFin ORCA-USDT | +0.0136% | 4h | 1.5080 | 0.000% | $233K | $58K | 50x | as long as short |
Kraken Futures PF_ORCAUSD
Aster ORCAUSDT
Binance ORCAUSDT
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 | +0.1964% | 4h | 1.5076 | −0.027% | $29K | $11K | — | as long as short |
| Bybit ORCAUSDT | +0.2006% | 4h | 1.5075 | −0.033% | $2.1M | $1.3M | 25x | as long as short |
Variational Omni ORCA
Bybit ORCAUSDT