Funding you earn now, next payment 08:00 UTC+0.0618%/8h= +67.6% APRnext payment +$3.09 per $10,000 · paid last 24h +0.274%
Price spread now: Bybit against KuCoin−0.147%7-day average −0.071% · you buy dearer than you sell
Net, funding: paid 7d − costs−$487as in the Funding arb table
Net, price: spread back to 7d avg − costs−$521as in the Price arb table
costs, in and out, $10k−$5135.131% of the position
Funding, last 7 days+0.258%+$26 on $10k
+Price spread, last 4 days (all we have)+0.070%+$7 · spread now −0.147%, 7d avg −0.071%
=Funding pays, the price is against you. Bybit is 0.076% cheaper against KuCoin than usual: you would sell low and buy high (spread −0.147% now, against its 7-day average of −0.071%). If the spread goes back, that is −$8 on $10k: about 10 hours of funding at the current rate (+$19 a day). At the pace of the last 7 days (+0.258% in total) that is about 2.1 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.258% in total (about 13.4% a year). A funding rate is set anew for every payment; at this rate the next one is about +$3.09 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 | KuCoin ORCAUSDTM | 1.4965 | 0.0100 | pay 0.0050% / 4h | 1h 47m | $568K | $203K | 30x |
| Short | Bybit ORCAUSDT | 1.4943 | 0.0718 | get 0.0359% / 4h | 1h 47m | $2.0M | $1.6M | 25x |
KuCoin ORCAUSDTM
Bybit ORCAUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against KuCoin. 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
- $129.68
- Price spread: −0.147% → −0.071%
- −$7.64
- Slippage, 4 orders
- −$490.12
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$391.08
- Costs to cover
- 5.131%
- Break-even
- 28.1 days
Slippage from KuCoin: live order book, 71 min ago; Bybit: live order book, 4 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 KuCoin live order book, 71 min ago | 7.68 bp | 230.9 bp −$231 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bybit live order book, 4 min ago | 6.02 bp | 18.9 bp −$19 | 90.2 bp −$902 | 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 | −0.0184% | 1h | 1.4964 | −0.010% | $9K | $10K | 10x | as long as short |
| BingX ORCA-USDT | +0.0070% | 4h | 1.4950 | −0.100% | — | $6.6M | — | as long as short |
| BloFin ORCA-USDT | +0.0097% | 4h | 1.4960 | −0.033% | $223K | $60K | 50x | as long as short |
| Aster ORCAUSDT | +0.0100% | 4h | 1.4969 | +0.025% | $44K | $38K | 5x | as long as short |
| Binance ORCAUSDT | +0.0100% | 4h | 1.4960 | −0.033% | $3.4M | $5.6M | 50x | as long as short |
| Gate ORCA_USDT | +0.0100% | 4h | 1.4973 | +0.053% | $125K | $36K | 25x | as long as short |
| MEXC ORCA_USDT | +0.0100% | 4h | 1.4950 | −0.100% | $691K | $122K | 20x | as long as short |
| KuCoin ORCAUSDTMlong | +0.0100% | 4h | 1.4965 | long leg | $568K | $203K | 30x | |
| Bitget ORCAUSDT | +0.0100% | 4h | 1.4950 | −0.100% | $671K | $683K | 25x | as long as short |
| Extended ORCA-USD | +0.0104% | 1h | 1.4956 | −0.060% | $1K | $103K | 5x | as long as short |
Kraken Futures PF_ORCAUSD
BingX ORCA-USDT
BloFin ORCA-USDT
Aster ORCAUSDT
Binance ORCAUSDT
Gate ORCA_USDT
MEXC ORCA_USDT
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 | +0.0575% | 4h | 1.4937 | −0.187% | $28K | $9K | — | as long as short |
| Bybit ORCAUSDTshort | +0.0718% | 4h | 1.4943 | −0.147% | $2.0M | $1.6M | 25x |
Variational Omni ORCA