Funding you earn now, next payment 00:00 UTC+0.0005%/8h= +0.5% APRnext payment +$0.02 per $10,000 · paid last 24h +0.074%
Price spread now: Binance against BloFin+0.066%51s7-day average −0.035% · you sell dearer than you buy
Net, funding: paid 7d − costs−$65as 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−$640.639% of the position
Funding, last 7 days−0.013%−$1 on $10k
+Price spread, last 3 days (all we have)−0.100%−$10 · spread now +0.066%, 7d avg −0.035%
=Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Binance is 0.102% dearer against BloFin than usual: you sell high and buy low, +$10 on $10k if it goes back to its 7-day average of −0.035%. The two prices were read 51 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 | BloFin ORCA-USDT | 1.5060 | 0.0095 | pay 0.0048% / 4h | 20m 28s | $228K | $59K | 50x |
| Short | Binance ORCAUSDT | 1.5070 | 0.0100 | get 0.0050% / 4h | 20m 28s | $3.5M | $5.5M | 50x |
BloFin ORCA-USDT
Binance ORCAUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against BloFin. 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
- $1.05
- Price spread: +0.066% → −0.035%
- $10.15
- Slippage, 4 orders
- −$41.9
- Fee BloFin: 6 bp × 2 orders
- −$12
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$52.7
- Costs to cover
- 0.639%
- Break-even
- 359.5 days
Slippage from BloFin: live order book, 50 min ago; Binance: 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 BloFin live order book, 50 min ago | 3.32 bp | 11.6 bp −$12 | 36.1 bp −$361 | doesn't fit | doesn't fit |
| Sell Binance live order book, 3 min ago | 3.32 bp | 17.9 bp −$18 | 68.1 bp −$681 | 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 | −0.0443% | 1h | 1.5050 | −0.066% | $9K | $14K | 10x | as long as short |
| BingX ORCA-USDT | +0.0070% | 4h | 1.5080 | +0.133% | — | $6.6M | — | as long as short |
| BloFin ORCA-USDTlong | +0.0095% | 4h | 1.5060 | long leg | $228K | $59K | 50x | |
| Aster ORCAUSDT | +0.0100% | 4h | 1.5071 | +0.074% | $44K | $44K | 5x | as long as short |
| Binance ORCAUSDTshort | +0.0100% | 4h | 1.5070 | +0.066% | $3.5M | $5.5M | 50x | |
| Gate ORCA_USDT | +0.0100% | 4h | 1.5077 | +0.113% | $126K | $46K | 25x | as long as short |
| MEXC ORCA_USDT | +0.0100% | 4h | 1.5070 | +0.066% | $702K | $140K | 20x | as long as short |
| KuCoin ORCAUSDTM | +0.0100% | 4h | 1.5092 | +0.212% | $580K | $207K | 30x | as long as short |
| Bitget ORCAUSDT | +0.0100% | 4h | 1.5050 | −0.066% | $683K | $571K | 25x | as long as short |
| Extended ORCA-USD | +0.0104% | 1h | 1.5067 | +0.047% | $3K | $155K | 5x | as long as short |
Kraken Futures PF_ORCAUSD
BingX ORCA-USDT
Aster 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 | |
|---|---|---|---|---|---|---|---|---|
| Bybit ORCAUSDT | +0.1105% | 4h | 1.5041 | −0.126% | $2.1M | $1.4M | 25x | as long as short |
| Variational Omni ORCA | +0.1334% | 4h | 1.5032 | −0.183% | $28K | $12K | — | as long as short |
Bybit ORCAUSDT
Variational Omni ORCA