Funding you earn now, next payment 08:00 UTC−0.0047%/8h= −5.1% APRnext payment −$0.23 per $10,000 · paid last 24h −0.044%
Price spread now: BloFin against Gate+0.013%7-day average +0.034% · you sell dearer than you buy
Net, funding: paid 7d − costs−$102as in the Funding arb table
Net, price: spread back to 7d avg − costs−$107as in the Price arb table
costs, in and out, $10k−$1051.047% of the position
Funding, last 7 days+0.023%+$2 on $10k
+Price spread, last 4 days (all we have)+0.011%+$1 · spread now +0.013%, 7d avg +0.034%
=Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and BloFin is 0.021% cheaper against Gate than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.034%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Gate ORCA_USDT | 1.4898 | 0.0100 | pay 0.0050% / 4h | 2h 35m | $124K | $36K | 25x |
| Short | BloFin ORCA-USDT | 1.4900 | 0.0053 | get 0.0027% / 4h | 2h 35m | $226K | $60K | 50x |
Gate ORCA_USDT
BloFin ORCA-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BloFin against Gate. 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
- −$9.8
- Price spread: +0.013% → +0.034%
- −$2.06
- Slippage, 4 orders
- −$77.69
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Fee BloFin: 6 bp × 2 orders
- −$12
- Net
- −$116.55
- Costs to cover
- 1.047%
- Break-even
- never at this rate
Slippage from Gate: live order book, 5 min ago; BloFin: live order book, 46 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 Gate live order book, 5 min ago | 10.08 bp | 35.1 bp −$35 | doesn't fit | doesn't fit | doesn't fit |
| Sell BloFin live order book, 46 min ago | 6.66 bp | 18.9 bp −$19 | 42.3 bp −$423 | 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 | 1.4912 | +0.093% | $9K | $11K | 10x | as long as short |
| BloFin ORCA-USDTshort | +0.0053% | 4h | 1.4900 | +0.013% | $226K | $60K | 50x | |
| BingX ORCA-USDT | +0.0070% | 4h | 1.4900 | +0.013% | — | $6.6M | — | as long as short |
| Aster ORCAUSDT | +0.0100% | 4h | 1.4913 | +0.099% | $44K | $38K | 5x | as long as short |
| Binance ORCAUSDT | +0.0100% | 4h | 1.4904 | +0.039% | $3.4M | $5.6M | 50x | as long as short |
| Gate ORCA_USDTlong | +0.0100% | 4h | 1.4898 | long leg | $124K | $36K | 25x | |
| MEXC ORCA_USDT | +0.0100% | 4h | 1.4900 | +0.013% | $687K | $123K | 20x | as long as short |
| KuCoin ORCAUSDTM | +0.0100% | 4h | 1.4906 | +0.054% | $578K | $203K | 30x | as long as short |
| Bitget ORCAUSDT | +0.0100% | 4h | 1.4910 | +0.081% | $653K | $657K | 25x | as long as short |
| Extended ORCA-USD | +0.0104% | 1h | 1.4903 | +0.033% | $2K | $102K | 5x | as long as short |
Kraken Futures PF_ORCAUSD
BingX ORCA-USDT
Aster ORCAUSDT
Binance ORCAUSDT
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 | −0.042% | $28K | $9K | — | as long as short |
| Bybit ORCAUSDT | +0.0459% | 4h | 1.4900 | +0.013% | $2.0M | $1.5M | 25x | as long as short |
Variational Omni ORCA
Bybit ORCAUSDT