Funding you earn now, next payment 08:00 UTC−0.0030%/8h= −3.3% APRnext payment −$0.15 per $10,000 · paid last 24h +0.165%
Price spread now: BingX against Gate−0.067%7-day average +0.042% · you buy dearer than you sell
Net, funding: paid 7d − costs−$99as in the Funding arb table
Net, price: spread back to 7d avg − costs−$128as in the Price arb table
costs, in and out, $10k−$1181.175% of the position
Funding, last 7 days+0.184%+$18 on $10k
+Price spread, last 4 days (all we have)+0.149%+$15 · spread now −0.067%, 7d avg +0.042%
=Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and BingX is 0.109% cheaper against Gate than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of +0.042%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.184%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Gate ORCA_USDT | 1.4970 | 0.0100 | pay 0.0050% / 4h | 2h 55m | $125K | $36K | 25x |
| Short | BingX ORCA-USDT | 1.4960 | 0.0070 | get 0.0035% / 4h | 2h 55m | — | $6.6M | — |
Gate ORCA_USDT
BingX ORCA-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BingX 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
- −$6.3
- Price spread: −0.067% → +0.042%
- −$10.89
- Slippage, 4 orders
- −$92.51
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Fee BingX: 5 bp × 2 orders
- −$10
- Net
- −$134.69
- Costs to cover
- 1.175%
- Break-even
- never at this rate
Slippage from Gate: live order book, 50 min ago; BingX: live order book, 2 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, 50 min ago | 13.21 bp | 35.9 bp −$36 | doesn't fit | doesn't fit | doesn't fit |
| Sell BingX live order book, 2 min ago | 10.02 bp | 24.6 bp −$25 | 66.1 bp −$661 | 528.1 bp −$52.8K | 1128.2 bp −$564.1K |
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 | 1.4982 | +0.081% | $9K | $11K | 10x | as long as short |
| BingX ORCA-USDTshort | +0.0070% | 4h | 1.4960 | −0.067% | — | $6.6M | — | |
| BloFin ORCA-USDT | +0.0073% | 4h | 1.4990 | +0.134% | $226K | $60K | 50x | as long as short |
| Aster ORCAUSDT | +0.0100% | 4h | 1.4978 | +0.056% | $44K | $38K | 5x | as long as short |
| Binance ORCAUSDT | +0.0100% | 4h | 1.4966 | −0.030% | $3.5M | $5.6M | 50x | as long as short |
| Gate ORCA_USDTlong | +0.0100% | 4h | 1.4970 | long leg | $125K | $36K | 25x | |
| MEXC ORCA_USDT | +0.0100% | 4h | 1.4960 | −0.067% | $690K | $122K | 20x | as long as short |
| KuCoin ORCAUSDTM | +0.0100% | 4h | 1.4992 | +0.147% | $577K | $200K | 30x | as long as short |
| Bitget ORCAUSDT | +0.0100% | 4h | 1.4960 | −0.067% | $662K | $654K | 25x | as long as short |
| Extended ORCA-USD | +0.0104% | 1h | 1.4963 | −0.050% | $2K | $103K | 5x | as long as short |
Kraken Futures PF_ORCAUSD
BloFin 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 | |
|---|---|---|---|---|---|---|---|---|
| Bybit ORCAUSDT | +0.0119% | 4h | 1.4957 | −0.087% | $2.0M | $1.5M | 25x | as long as short |
| Variational Omni ORCA | +0.0256% | 4h | 1.4970 | −0.001% | $29K | $10K | — | as long as short |
Bybit ORCAUSDT
Variational Omni ORCA