Funding you earn now, next payment 04:00 UTC−0.0188%/8h= −20.6% APRnext payment −$0.94 per $10,000 · paid last 24h −0.361%
Price spread now: BloFin against Bybit+0.138%102s7-day average +0.008% · you sell dearer than you buy
Net, funding: paid 7d − costs−$129as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$950.947% of the position
Funding, last 7 days−0.342%−$34 on $10k
+Price spread, last 4 days (all we have)+0.190%+$19 · spread now +0.138%, 7d avg +0.008%
=The price spread pays, funding is against you. BloFin is 0.130% dearer against Bybit than usual: you sell high and buy low (spread +0.138% now, against its 7-day average of +0.008%): +$13 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 2.3 days. The two prices were read 102 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit ORCAUSDT | 1.5199 | 0.0241 | pay 0.0120% / 4h | 1h 09m | $2.1M | $1.5M | 25x |
| Short | BloFin ORCA-USDT | 1.5220 | 0.0052 | get 0.0026% / 4h | 1h 09m | $227K | $60K | 50x |
Bybit ORCAUSDT
BloFin ORCA-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BloFin 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
- −$39.49
- Price spread: +0.138% → +0.008%
- $12.97
- Slippage, 4 orders
- −$71.69
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee BloFin: 6 bp × 2 orders
- −$12
- Net
- −$121.21
- Costs to cover
- 0.947%
- Break-even
- never at this rate
Slippage from Bybit: live order book, 2 min ago; BloFin: live order book, 29 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, 2 min ago | 5.92 bp | 25.1 bp −$25 | 112.0 bp −$1,120 | doesn't fit | doesn't fit |
| Sell BloFin live order book, 29 min ago | 6.63 bp | 21.5 bp −$21 | 49.8 bp −$498 | 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 | −0.0257% | 1h | 1.5212 | +0.083% | $9K | $13K | 10x | as long as short |
| BloFin ORCA-USDTshort | +0.0052% | 4h | 1.5220 | +0.138% | $227K | $60K | 50x | |
| BingX ORCA-USDT | +0.0070% | 4h | 1.5200 | +0.007% | — | $6.6M | — | as long as short |
| Aster ORCAUSDT | +0.0100% | 4h | 1.5224 | +0.164% | $45K | $39K | 5x | as long as short |
| Binance ORCAUSDT | +0.0100% | 4h | 1.5204 | +0.030% | $3.5M | $5.5M | 50x | as long as short |
| Gate ORCA_USDT | +0.0100% | 4h | 1.5221 | +0.145% | $127K | $40K | 25x | as long as short |
| MEXC ORCA_USDT | +0.0100% | 4h | 1.5200 | +0.007% | $702K | $126K | 20x | as long as short |
| Bitget ORCAUSDT | +0.0100% | 4h | 1.5210 | +0.072% | $678K | $637K | 25x | as long as short |
| Extended ORCA-USD | +0.0104% | 1h | 1.5200 | +0.010% | $2K | $130K | 5x | as long as short |
| KuCoin ORCAUSDTM | +0.0204% | 4h | 1.5222 | +0.151% | $590K | $205K | 30x | as long as short |
Kraken Futures PF_ORCAUSD
BingX ORCA-USDT
Aster ORCAUSDT
Binance ORCAUSDT
Gate ORCA_USDT
MEXC ORCA_USDT
Bitget ORCAUSDT
Extended ORCA-USD
KuCoin ORCAUSDTMShow all 12 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit ORCAUSDTlong | +0.0241% | 4h | 1.5199 | long leg | $2.1M | $1.5M | 25x | |
| Variational Omni ORCA | +0.0462% | 4h | 1.5203 | +0.027% | $29K | $10K | — | as long as short |
Variational Omni ORCA