Funding you earn now, next payment 00:00 UTC−0.1350%/8h= −147.8% APRnext payment −$6.75 per $10,000 · paid last 24h −0.251%
Price spread now: Bitget against Bybit+0.060%7-day average −0.030% · you sell dearer than you buy
Net, funding: paid 7d − costs−$126as in the Funding arb table
Net, price: spread back to 7d avg − costs−$91as in the Price arb table
costs, in and out, $10k−$1000.998% of the position
Funding, last 7 days−0.258%−$26 on $10k
+Price spread, last 4 days (all we have)−0.053%−$5 · spread now +0.060%, 7d avg −0.030%
=The price spread pays, funding is against you. Bitget is 0.089% dearer against Bybit than usual: you sell high and buy low (spread +0.060% now, against its 7-day average of −0.030%): +$9 on $10k if it goes back. Holding the pair costs −$41 a day in funding at the current rate, which eats that in about 5 hours. At the pace of the last 7 days (−0.258% in total) that is about 2.4 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 -13.5% a year). A funding rate is set anew for every payment; at this rate the next one is about −$6.75 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 | 1.5121 | 0.1450 | pay 0.0725% / 4h | 51m 42s | $2.1M | $1.4M | 25x |
| Short | Bitget ORCAUSDT | 1.5130 | 0.0100 | get 0.0050% / 4h | 51m 42s | $703K | $557K | 25x |
Bybit ORCAUSDT
Bitget ORCAUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bitget 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
- −$283.51
- Price spread: +0.060% → −0.030%
- $8.95
- Slippage, 4 orders
- −$76.81
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Bitget: 6 bp × 2 orders
- −$12
- Net
- −$374.37
- Costs to cover
- 0.998%
- Break-even
- never at this rate
Slippage from Bybit: live order book, 5 min ago; Bitget: live order book, 24 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, 5 min ago | 3.98 bp | 30.9 bp −$31 | 186.0 bp −$1,860 | doesn't fit | doesn't fit |
| Sell Bitget live order book, 24 min ago | 6.64 bp | 21.5 bp −$21 | 71.4 bp −$714 | 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 | −0.0440% | 1h | 1.5129 | +0.052% | $9K | $14K | 10x | as long as short |
| BingX ORCA-USDT | +0.0070% | 4h | 1.5140 | +0.126% | — | $6.6M | — | as long as short |
| Aster ORCAUSDT | +0.0100% | 4h | 1.5135 | +0.092% | $44K | $44K | 5x | as long as short |
| Binance ORCAUSDT | +0.0100% | 4h | 1.5140 | +0.126% | $3.5M | $5.5M | 50x | as long as short |
| Gate ORCA_USDT | +0.0100% | 4h | 1.5126 | +0.033% | $127K | $46K | 25x | as long as short |
| MEXC ORCA_USDT | +0.0100% | 4h | 1.5130 | +0.060% | $705K | $138K | 20x | as long as short |
| KuCoin ORCAUSDTM | +0.0100% | 4h | 1.5161 | +0.265% | $582K | $207K | 30x | as long as short |
| Bitget ORCAUSDTshort | +0.0100% | 4h | 1.5130 | +0.060% | $703K | $557K | 25x | |
| Extended ORCA-USD | +0.0104% | 1h | 1.5137 | +0.106% | $3K | $155K | 5x | as long as short |
| BloFin ORCA-USDT | +0.0129% | 4h | 1.5120 | −0.007% | $228K | $59K | 50x | as long as short |
Kraken Futures PF_ORCAUSD
BingX ORCA-USDT
Aster ORCAUSDT
Binance ORCAUSDT
Gate ORCA_USDT
MEXC ORCA_USDT
KuCoin ORCAUSDTM
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 | +0.1450% | 4h | 1.5121 | long leg | $2.1M | $1.4M | 25x | |
| Variational Omni ORCA | +0.1695% | 4h | 1.5094 | −0.176% | $28K | $12K | — | as long as short |
Variational Omni ORCA