Funding you earn now, next payment 04:00 UTC−0.0150%/8h= −16.4% APRnext payment −$0.75 per $10,000 · paid last 24h −0.027%
Price spread now: Binance against KuCoin−0.119%7-day average −0.084% · you buy dearer than you sell
Net, funding: paid 7d − costs−$693as in the Funding arb table
Net, price: spread back to 7d avg − costs−$687as in the Price arb table
costs, in and out, $10k−$6846.839% of the position
Funding, last 7 days−0.095%−$9 on $10k
+Price spread, last 4 days (all we have)−0.014%−$1 · spread now −0.119%, 7d avg −0.084%
=Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Binance is 0.035% cheaper against KuCoin than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.084%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | KuCoin ORCAUSDTM | 1.5178 | 0.0250 | pay 0.0125% / 4h | 1h 52m | $583K | $203K | 30x |
| Short | Binance ORCAUSDT | 1.5160 | 0.0100 | get 0.0050% / 4h | 1h 52m | $3.5M | $5.4M | 50x |
KuCoin ORCAUSDTM
Binance ORCAUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against KuCoin. 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
- −$31.5
- Price spread: −0.119% → −0.084%
- −$3.45
- Slippage, 4 orders
- −$661.95
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$718.9
- Costs to cover
- 6.839%
- Break-even
- never at this rate
Slippage from KuCoin: live order book, 45 min ago; Binance: live order book, 15 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 KuCoin live order book, 45 min ago | 12.27 bp | 242.5 bp −$243 | doesn't fit | doesn't fit | doesn't fit |
| Sell Binance live order book, 15 min ago | 3.31 bp | 17.1 bp −$17 | 70.6 bp −$706 | doesn't fit | doesn't fit |
ORCA on 11 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 | −0.0258% | 1h | 1.5150 | −0.182% | $9K | $13K | 10x | as long as short |
| BingX ORCA-USDT | +0.0070% | 4h | 1.5150 | −0.184% | — | $6.6M | — | as long as short |
| Aster ORCAUSDT | +0.0100% | 4h | 1.5162 | −0.104% | $44K | $41K | 5x | as long as short |
| Binance ORCAUSDTshort | +0.0100% | 4h | 1.5160 | −0.119% | $3.5M | $5.4M | 50x | |
| Gate ORCA_USDT | +0.0100% | 4h | 1.5150 | −0.184% | $127K | $40K | 25x | as long as short |
| MEXC ORCA_USDT | +0.0100% | 4h | 1.5150 | −0.184% | $706K | $123K | 20x | as long as short |
| Bitget ORCAUSDT | +0.0100% | 4h | 1.5150 | −0.184% | $683K | $606K | 25x | as long as short |
| Bybit ORCAUSDT | +0.0104% | 4h | 1.5140 | −0.250% | $2.1M | $1.5M | 25x | as long as short |
| Extended ORCA-USD | +0.0104% | 1h | 1.5150 | −0.187% | $4K | $124K | 5x | as long as short |
| KuCoin ORCAUSDTMlong | +0.0250% | 4h | 1.5178 | long leg | $583K | $203K | 30x |
Kraken Futures PF_ORCAUSD
BingX ORCA-USDT
Aster ORCAUSDT
Gate ORCA_USDT
MEXC ORCA_USDT
Bitget ORCAUSDT
Bybit ORCAUSDT
Extended ORCA-USDShow all 11 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni ORCA | +0.0494% | 4h | 1.5172 | −0.036% | $29K | $11K | — | as long as short |
Variational Omni ORCA