Funding you earn now, next payment 22:00 UTC+0.2907%/8h= +318.3% APRpaid last 24h −5.452%
Price spread now: Bybit against Kraken Futures−0.229%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
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. Bybit is 0.229% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.229% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$23 on $10k: about 6 hours of funding at the current rate (+$87 a day).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_ORCAUSD | 1.5017 | −0.0794 | get 0.0099% / 1h | 4m 45s | $9K | $15K | 10x |
| Short | Bybit ORCAUSDT | 1.4983 | 0.2113 | get 0.1057% / 4h | 2h 04m | $2.1M | $1.3M | 25x |
Kraken Futures PF_ORCAUSD
Bybit ORCAUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $610.53
- Price spread: −0.229% → 0.000%
- −$22.85
- Slippage, 4 orders
- no order book: not counted
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- $566.68
- Costs to cover
- 0.210%
- Break-even
- 0.5 days
Slippage unknown: Kraken Futures: no order-book sample; Bybit: live order book, 2 min ago. Net counts fees only.
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 Kraken Futures no order-book sample | — | — | — | — | — |
| Sell Bybit live order book, 2 min ago | 3.67 bp | 22.5 bp −$23 | 141.6 bp −$1,416 | doesn't fit | doesn't fit |
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.| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_ORCAUSDlong | −0.0794% | 1h | 1.5017 | long leg | $9K | $15K | 10x | |
| BloFin ORCA-USDT | +0.0064% | 4h | 1.5030 | +0.084% | $232K | $57K | 50x | as long as short |
| BingX ORCA-USDT | +0.0070% | 4h | 1.5010 | −0.049% | — | $6.6M | — | as long as short |
| Aster ORCAUSDT | +0.0100% | 4h | 1.5035 | +0.118% | $44K | $44K | 5x | as long as short |
| Binance ORCAUSDT | +0.0100% | 4h | 1.5020 | +0.018% | $3.5M | $5.3M | 50x | as long as short |
| Gate ORCA_USDT | +0.0100% | 4h | 1.5041 | +0.158% | $126K | $47K | 25x | as long as short |
| MEXC ORCA_USDT | +0.0100% | 4h | 1.5020 | +0.018% | $690K | $148K | 20x | as long as short |
| KuCoin ORCAUSDTM | +0.0100% | 4h | 1.5043 | +0.171% | $575K | $204K | 30x | as long as short |
| Bitget ORCAUSDT | +0.0100% | 4h | 1.5020 | +0.018% | $702K | $506K | 25x | as long as short |
| Extended ORCA-USD | +0.0104% | 1h | 1.5018 | +0.004% | $3K | $155K | 5x | as long as short |
BloFin ORCA-USDT
BingX ORCA-USDT
Aster ORCAUSDT
Binance ORCAUSDT
Gate ORCA_USDT
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 | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni ORCA | +0.2066% | 4h | 1.4987 | −0.200% | $28K | $12K | — | as long as short |
| Bybit ORCAUSDTshort | +0.2113% | 4h | 1.4983 | −0.229% | $2.1M | $1.3M | 25x |
Variational Omni ORCA