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Funding arb · Price arb /

ORCA

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 05:00 UTC+0.0797%/8h= +87.3% APRpaid last 24h −3.332%
Price spread now: BingX against Kraken Futures−0.151%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Long on Kraken FuturesShort on BingX
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)—no history yet
Price spread, last 7 days—no price history on both exchanges yet
Together, before fees—needs both histories
Funding pays, the price is against you. BingX is 0.151% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.151% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$15 on $10k: about 15 hours of funding at the current rate (+$24 a day).
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongKraken Futures PF_ORCAUSD1.5043−0.0727get 0.0091% / 1h24m 36s$9K$13K10x
ShortBingX ORCA-USDT1.50200.0070get 0.0035% / 4h3h 24m—$6.6M—

Funding history

latest
Range statsloading…

Price spread between the two exchanges

BingX against Kraken Futures. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

click an exchange to add or hide it
latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
$167.37
Price spread: −0.151% → 0.000%
−$15.12
Slippage, 4 orders
no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders
−$10
Fee BingX: 5 bp × 2 orders
−$10
Net
$132.25
Costs to cover
0.200%
Break-even
1.5 days
Slippage unknown: Kraken Futures: no order-book sample; BingX: live order book, 13 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Kraken Futures no order-book sample—————
Sell BingX live order book, 13 min ago6.64 bp21.6 bp −$2267.5 bp −$675730.4 bp −$73.0K1242.3 bp −$621.2K
Kraken Futures: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

ORCA on 12 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Kraken Futures PF_ORCAUSDlong−0.0727%1h1.5043long leg$9K$13K10x
BloFin ORCA-USDT+0.0069%4h1.5020−0.151%$226K$60K50xas long as short
BingX ORCA-USDTshort+0.0070%4h1.5020−0.151%—$6.6M—
Aster ORCAUSDT+0.0100%4h1.5026−0.111%$44K$37K5xas long as short
Binance ORCAUSDT+0.0100%4h1.5026−0.112%$3.5M$5.5M50xas long as short
Bybit ORCAUSDT+0.0100%4h1.5011−0.211%$2.0M$1.5M25xas long as short
Gate ORCA_USDT+0.0100%4h1.5035−0.051%$125K$37K25xas long as short
MEXC ORCA_USDT+0.0100%4h1.5010−0.218%$698K$123K20xas long as short
KuCoin ORCAUSDTM+0.0100%4h1.5052+0.062%$585K$199K30xas long as short
Bitget ORCAUSDT+0.0100%4h1.5020−0.151%$665K$648K25xas long as short
Show all 12 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Extended ORCA-USD+0.0104%1h1.5022−0.140%$2K$129K5xas long as short
Variational Omni ORCA+0.0228%4h1.5019−0.156%$29K$10K—as long as short