Funding you earn now, next payment 08:00 UTC+0.0321%/8h= +35.1% APRnext payment +$1.60 per $10,000 · paid last 24h +0.345%
Price spread now: Bybit against BloFin+0.121%112s7-day average −0.005% · you sell dearer than you buy
Net, funding: paid 7d − costs−$45as 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−$780.784% of the position
Funding, last 7 days+0.330%+$33 on $10k
+Price spread, last 4 days (all we have)−0.116%−$12 · spread now +0.121%, 7d avg −0.005%
=Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and Bybit is 0.126% dearer against BloFin than usual: you sell high and buy low: +$13 more if the spread goes back to its 7-day average of −0.005%. The two prices were read 112 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 | 1.4860 | 0.0051 | pay 0.0026% / 4h | 2h 31m | $224K | $60K | 50x |
| Short | Bybit ORCAUSDT | 1.4878 | 0.0372 | get 0.0186% / 4h | 2h 31m | $2.0M | $1.5M | 25x |
BloFin ORCA-USDT
Bybit ORCAUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit 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
- $67.38
- Price spread: +0.121% → −0.005%
- $12.58
- Slippage, 4 orders
- −$55.4
- Fee BloFin: 6 bp × 2 orders
- −$12
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- $1.56
- Costs to cover
- 0.784%
- Break-even
- 6.8 days
Slippage from BloFin: live order book, 50 min ago; Bybit: live order book, 10 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 | 6.66 bp | 14.9 bp −$15 | 42.8 bp −$428 | 486.5 bp −$48.7K | doesn't fit |
| Sell Bybit live order book, 10 min ago | 5.36 bp | 19.9 bp −$20 | 93.7 bp −$937 | 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 | −0.0006% | 1h | 1.4878 | +0.122% | $9K | $10K | 10x | as long as short |
| BloFin ORCA-USDTlong | +0.0051% | 4h | 1.4860 | long leg | $224K | $60K | 50x | |
| BingX ORCA-USDT | +0.0070% | 4h | 1.4890 | +0.202% | — | $6.6M | — | as long as short |
| Aster ORCAUSDT | +0.0100% | 4h | 1.4900 | +0.270% | $44K | $38K | 5x | as long as short |
| Binance ORCAUSDT | +0.0100% | 4h | 1.4889 | +0.197% | $3.4M | $5.6M | 50x | as long as short |
| Gate ORCA_USDT | +0.0100% | 4h | 1.4892 | +0.215% | $124K | $36K | 25x | as long as short |
| MEXC ORCA_USDT | +0.0100% | 4h | 1.4890 | +0.202% | $688K | $124K | 20x | as long as short |
| KuCoin ORCAUSDTM | +0.0100% | 4h | 1.4912 | +0.350% | $577K | $203K | 30x | as long as short |
| Bitget ORCAUSDT | +0.0100% | 4h | 1.4890 | +0.202% | $653K | $665K | 25x | as long as short |
| Extended ORCA-USD | +0.0104% | 1h | 1.4886 | +0.172% | $2K | $102K | 5x | as long as short |
Kraken Futures PF_ORCAUSD
BingX ORCA-USDT
Aster ORCAUSDT
Binance 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 | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni ORCA | +0.0314% | 4h | 1.4892 | +0.213% | $28K | $9K | — | as long as short |
| Bybit ORCAUSDTshort | +0.0372% | 4h | 1.4878 | +0.121% | $2.0M | $1.5M | 25x |
Variational Omni ORCA