Funding you earn now, next payment 04:00 UTC−0.0872%/8h= −95.5% APRnext payment −$4.36 per $10,000 · paid last 24h −0.133%
Price spread now: BingX against Bybit+0.172%7-day average −0.012% · you sell dearer than you buy
Net, funding: paid 7d − costs−$99as in the Funding arb table
Net, price: spread back to 7d avg − costs−$64as in the Price arb table
costs, in and out, $10k−$830.826% of the position
Funding, last 7 days−0.166%−$17 on $10k
+Price spread, last 7 days−0.233%−$23 · spread now +0.172%, 7d avg −0.012%
=The price spread pays, funding is against you. BingX is 0.184% dearer against Bybit than usual: you sell high and buy low (spread +0.172% now, against its 7-day average of −0.012%): +$18 on $10k if it goes back. Holding the pair costs −$26 a day in funding at the current rate, which eats that in about 17 hours. At the pace of the last 7 days (−0.166% in total) that is about 7.8 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.166% in total (about -8.7% a year). A funding rate is set anew for every payment; at this rate the next one is about −$4.36 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit ORCAUSDT | 1.5094 | 0.0942 | pay 0.0471% / 4h | 3h 36m | $2.1M | $1.4M | 25x |
| Short | BingX ORCA-USDT | 1.5120 | 0.0070 | get 0.0035% / 4h | 3h 36m | — | $6.6M | — |
Bybit ORCAUSDT
BingX ORCA-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BingX against Bybit. 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
- −$183.14
- Price spread: +0.172% → −0.012%
- $18.44
- Slippage, 4 orders
- −$61.61
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee BingX: 5 bp × 2 orders
- −$10
- Net
- −$247.3
- Costs to cover
- 0.826%
- Break-even
- never at this rate
Slippage from Bybit: live order book, just now; 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 Bybit live order book, just now | 1.99 bp | 23.7 bp −$24 | 120.3 bp −$1,203 | doesn't fit | doesn't fit |
| Sell BingX live order book, 11 min ago | 6.63 bp | 19.8 bp −$20 | 58.8 bp −$588 | 521.9 bp −$52.2K | 1174.9 bp −$587.5K |
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 | −0.0411% | 1h | 1.5124 | +0.200% | $9K | $14K | 10x | as long as short |
| BingX ORCA-USDTshort | +0.0070% | 4h | 1.5120 | +0.172% | — | $6.6M | — | |
| Aster ORCAUSDT | +0.0100% | 4h | 1.5130 | +0.236% | $44K | $44K | 5x | as long as short |
| Binance ORCAUSDT | +0.0100% | 4h | 1.5124 | +0.201% | $3.5M | $5.5M | 50x | as long as short |
| Gate ORCA_USDT | +0.0100% | 4h | 1.5120 | +0.172% | $125K | $46K | 25x | as long as short |
| MEXC ORCA_USDT | +0.0100% | 4h | 1.5120 | +0.172% | $696K | $139K | 20x | as long as short |
| KuCoin ORCAUSDTM | +0.0100% | 4h | 1.5162 | +0.451% | $584K | $207K | 30x | as long as short |
| Bitget ORCAUSDT | +0.0100% | 4h | 1.5120 | +0.172% | $687K | $571K | 25x | as long as short |
| Extended ORCA-USD | +0.0104% | 1h | 1.5116 | +0.148% | $3K | $157K | 5x | as long as short |
| BloFin ORCA-USDT | +0.0117% | 4h | 1.5120 | +0.172% | $228K | $59K | 50x | as long as short |
Kraken Futures PF_ORCAUSD
Aster ORCAUSDT
Binance ORCAUSDT
Gate ORCA_USDT
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 | |
|---|---|---|---|---|---|---|---|---|
| Bybit ORCAUSDTlong | +0.0942% | 4h | 1.5094 | long leg | $2.1M | $1.4M | 25x | |
| Variational Omni ORCA | +0.1176% | 4h | 1.5101 | +0.044% | $28K | $12K | — | as long as short |
Variational Omni ORCA