Funding you earn now, next payment 12:00 UTC−0.0038%/8h= −4.2% APRnext payment −$0.19 per $10,000 · paid last 24h +0.164%
Price spread now: BingX against BloFin−0.134%81s7-day average +0.006% · you buy dearer than you sell
Net, funding: paid 7d − costs−$66as 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−$820.819% of the position
Funding, last 7 days+0.161%+$16 on $10k
+Price spread, last 4 days (all we have)−0.071%−$7 · spread now −0.134%, 7d avg +0.006%
=Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and BingX is 0.140% cheaper against BloFin than usual: you would sell low and buy high (−$14 if the spread goes back to its 7-day average of +0.006%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.161%, so the current rate has only just turned against you. The two prices were read 81 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 | 1.4900 | 0.0108 | pay 0.0054% / 4h | 3h 25m | $222K | $58K | 50x |
| Short | BingX ORCA-USDT | 1.4880 | 0.0070 | get 0.0035% / 4h | 3h 25m | — | $6.6M | — |
BloFin ORCA-USDT
BingX ORCA-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BingX 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
- −$8.06
- Price spread: −0.134% → +0.006%
- −$14.01
- Slippage, 4 orders
- −$59.87
- Fee BloFin: 6 bp × 2 orders
- −$12
- Fee BingX: 5 bp × 2 orders
- −$10
- Net
- −$103.94
- Costs to cover
- 0.819%
- Break-even
- never at this rate
Slippage from BloFin: live order book, 40 min ago; BingX: live order book, 11 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, 40 min ago | 3.35 bp | 21.5 bp −$22 | 49.2 bp −$492 | 502.2 bp −$50.2K | doesn't fit |
| Sell BingX live order book, 11 min ago | 6.72 bp | 24.6 bp −$25 | 70.0 bp −$700 | 672.3 bp −$67.2K | 1218.9 bp −$609.5K |
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 | −0.0604% | 1h | 1.4865 | −0.234% | $9K | $8K | 10x | as long as short |
| BingX ORCA-USDTshort | +0.0070% | 4h | 1.4880 | −0.134% | — | $6.6M | — | |
| Binance ORCAUSDT | +0.0100% | 4h | 1.4882 | −0.122% | $3.4M | $5.4M | 50x | as long as short |
| Gate ORCA_USDT | +0.0100% | 4h | 1.4885 | −0.101% | $124K | $36K | 25x | as long as short |
| MEXC ORCA_USDT | +0.0100% | 4h | 1.4870 | −0.201% | $685K | $122K | 20x | as long as short |
| Bitget ORCAUSDT | +0.0100% | 4h | 1.4880 | −0.134% | $664K | $671K | 25x | as long as short |
| Extended ORCA-USD | +0.0104% | 1h | 1.4877 | −0.153% | $4K | $209K | 5x | as long as short |
| BloFin ORCA-USDTlong | +0.0108% | 4h | 1.4900 | long leg | $222K | $58K | 50x | |
| Aster ORCAUSDT | +0.0130% | 4h | 1.4891 | −0.064% | $44K | $34K | 5x | as long as short |
| KuCoin ORCAUSDTM | +0.0174% | 4h | 1.4902 | +0.013% | $544K | $202K | 30x | as long as short |
Kraken Futures PF_ORCAUSD
Binance ORCAUSDT
Gate ORCA_USDT
MEXC ORCA_USDT
Bitget ORCAUSDT
Extended ORCA-USD
Aster ORCAUSDT
KuCoin ORCAUSDTMShow all 12 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit ORCAUSDT | +0.0740% | 4h | 1.4869 | −0.208% | $2.0M | $1.6M | 25x | as long as short |
| Variational Omni ORCA | +0.1024% | 4h | 1.4848 | −0.352% | $32K | $13K | — | as long as short |
Bybit ORCAUSDT
Variational Omni ORCA