Funding you earn now, next payment 04:00 UTC−0.0030%/8h= −3.3% APRnext payment −$0.15 per $10,000 · paid last 24h +0.168%
Price spread now: BingX against Bitget0.000%7-day average +0.037% · you sell dearer than you buy
Net, funding: paid 7d − costs−$75as in the Funding arb table
Net, price: spread back to 7d avg − costs−$92as in the Price arb table
costs, in and out, $10k−$890.887% of the position
Funding, last 7 days+0.142%+$14 on $10k
+Price spread, last 4 days (all we have)−0.017%−$2 · spread now 0.000%, 7d avg +0.037%
=Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and BingX is 0.037% cheaper against Bitget than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.037%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.142%, 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 | Bitget ORCAUSDT | 1.5100 | 0.0100 | pay 0.0050% / 4h | 3h 57m | $686K | $575K | 25x |
| Short | BingX ORCA-USDT | 1.5100 | 0.0070 | get 0.0035% / 4h | 3h 57m | — | $6.6M | — |
Bitget ORCAUSDT
BingX ORCA-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BingX against Bitget. 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: 0.000% → +0.037%
- −$3.73
- Slippage, 4 orders
- −$66.72
- Fee Bitget: 6 bp × 2 orders
- −$12
- Fee BingX: 5 bp × 2 orders
- −$10
- Net
- −$98.76
- Costs to cover
- 0.887%
- Break-even
- never at this rate
Slippage from Bitget: live order book, 12 min ago; BingX: live order book, 14 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 Bitget live order book, 12 min ago | 6.63 bp | 18.4 bp −$18 | 92.1 bp −$921 | doesn't fit | doesn't fit |
| Sell BingX live order book, 14 min ago | 9.96 bp | 23.4 bp −$23 | 65.5 bp −$655 | 670.1 bp −$67.0K | 1236.4 bp −$618.2K |
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 | −0.0412% | 1h | 1.5103 | +0.019% | $9K | $14K | 10x | as long as short |
| BloFin ORCA-USDT | +0.0053% | 4h | 1.5140 | +0.265% | $228K | $60K | 50x | as long as short |
| BingX ORCA-USDTshort | +0.0070% | 4h | 1.5100 | 0.000% | — | $6.6M | — | |
| Aster ORCAUSDT | +0.0100% | 4h | 1.5114 | +0.094% | $44K | $44K | 5x | as long as short |
| Binance ORCAUSDT | +0.0100% | 4h | 1.5105 | +0.035% | $3.5M | $5.5M | 50x | as long as short |
| Bybit ORCAUSDT | +0.0100% | 4h | 1.5080 | −0.132% | $2.1M | $1.4M | 25x | as long as short |
| Gate ORCA_USDT | +0.0100% | 4h | 1.5120 | +0.132% | $125K | $46K | 25x | as long as short |
| MEXC ORCA_USDT | +0.0100% | 4h | 1.5110 | +0.066% | $704K | $137K | 20x | as long as short |
| KuCoin ORCAUSDTM | +0.0100% | 4h | 1.5148 | +0.318% | $583K | $207K | 30x | as long as short |
| Bitget ORCAUSDTlong | +0.0100% | 4h | 1.5100 | long leg | $686K | $575K | 25x |
Kraken Futures PF_ORCAUSD
BloFin ORCA-USDT
Aster ORCAUSDT
Binance ORCAUSDT
Bybit ORCAUSDT
Gate ORCA_USDT
MEXC ORCA_USDT
KuCoin ORCAUSDTMShow all 12 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Extended ORCA-USD | +0.0104% | 1h | 1.5097 | −0.020% | $3K | $153K | 5x | as long as short |
| Variational Omni ORCA | +0.1245% | 4h | 1.5118 | +0.119% | $28K | $12K | — | as long as short |
Extended ORCA-USD
Variational Omni ORCA