Funding you earn now, next payment 12:00 UTC+0.0054%/8h= +5.9% APRnext payment +$0.27 per $10,000 · paid last 24h −0.030%
Price spread now: BloFin against Binance−0.033%7-day average +0.023% · you buy dearer than you sell
Net, funding: paid 7d − costs−$78as in the Funding arb table
Net, price: spread back to 7d avg − costs−$85as in the Price arb table
costs, in and out, $10k−$790.793% of the position
Funding, last 7 days+0.009%+$1 on $10k
+Price spread, last 4 days (all we have)+0.162%+$16 · spread now −0.033%, 7d avg +0.023%
=Funding pays, the price is against you. BloFin is 0.056% cheaper against Binance than usual: you would sell low and buy high (spread −0.033% now, against its 7-day average of +0.023%). If the spread goes back, that is −$6 on $10k: about 3.5 days of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.009% in total) that is about 45 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance ORCAUSDT | 1.5005 | 0.0100 | pay 0.0050% / 4h | 2h 18m | $3.5M | $5.3M | 50x |
| Short | BloFin ORCA-USDT | 1.5000 | 0.0154 | get 0.0077% / 4h | 2h 18m | $222K | $57K | 50x |
Binance ORCAUSDT
BloFin ORCA-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BloFin against Binance. 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
- $11.39
- Price spread: −0.033% → +0.023%
- −$5.63
- Slippage, 4 orders
- −$57.27
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee BloFin: 6 bp × 2 orders
- −$12
- Net
- −$73.51
- Costs to cover
- 0.793%
- Break-even
- 52.2 days
Slippage from Binance: live order book, 12 min ago; BloFin: live order book, 27 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 Binance live order book, 12 min ago | 3.33 bp | 17.3 bp −$17 | 86.9 bp −$869 | doesn't fit | doesn't fit |
| Sell BloFin live order book, 27 min ago | 3.34 bp | 20.3 bp −$20 | 39.1 bp −$391 | doesn't fit | doesn't fit |
ORCA on 12 exchanges
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 | −0.0832% | 1h | 1.5008 | +0.017% | $9K | $8K | 10x | as long as short |
| BingX ORCA-USDT | +0.0070% | 4h | 1.5010 | +0.034% | — | $6.6M | — | as long as short |
| Binance ORCAUSDTlong | +0.0100% | 4h | 1.5005 | long leg | $3.5M | $5.3M | 50x | |
| Bybit ORCAUSDT | +0.0100% | 4h | 1.4999 | −0.040% | $2.0M | $1.5M | 25x | as long as short |
| Gate ORCA_USDT | +0.0100% | 4h | 1.5017 | +0.080% | $147K | $52K | 25x | as long as short |
| MEXC ORCA_USDT | +0.0100% | 4h | 1.5000 | −0.033% | $693K | $119K | 20x | as long as short |
| Bitget ORCAUSDT | +0.0100% | 4h | 1.5010 | +0.034% | $679K | $664K | 25x | as long as short |
| Extended ORCA-USD | +0.0104% | 1h | 1.5001 | −0.026% | $6K | $208K | 5x | as long as short |
| Aster ORCAUSDT | +0.0128% | 4h | 1.5010 | +0.034% | $46K | $16K | 5x | as long as short |
| BloFin ORCA-USDTshort | +0.0154% | 4h | 1.5000 | −0.033% | $222K | $57K | 50x |
Kraken Futures PF_ORCAUSD
BingX ORCA-USDT
Bybit ORCAUSDT
Gate ORCA_USDT
MEXC ORCA_USDT
Bitget ORCAUSDT
Extended ORCA-USD
Aster ORCAUSDTShow all 12 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin ORCAUSDTM | +0.0414% | 4h | 1.5018 | +0.087% | $545K | $203K | 30x | as long as short |
| Variational Omni ORCA | +0.0644% | 4h | 1.4992 | −0.084% | $30K | $16K | — | as long as short |
KuCoin ORCAUSDTM
Variational Omni ORCA