Funding you earn now, next payment 04:00 UTC−0.0018%/8h= −2.0% APRnext payment −$0.09 per $10,000 · paid last 24h −0.088%
Price spread now: BloFin against KuCoin−0.238%65s7-day average −0.042% · you buy dearer than you sell
Net, funding: paid 7d − costs−$420as 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−$4114.111% of the position
Funding, last 7 days−0.085%−$8 on $10k
+Price spread, last 3 days (all we have)+0.109%+$11 · spread now −0.238%, 7d avg −0.042%
=Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and BloFin is 0.196% cheaper against KuCoin than usual: you would sell low and buy high (−$20 if the spread goes back to its 7-day average of −0.042%). Swap the legs. The two prices were read 65 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 | KuCoin ORCAUSDTM | 1.5116 | 0.0100 | pay 0.0050% / 4h | 3h 52m | $582K | $207K | 30x |
| Short | BloFin ORCA-USDT | 1.5080 | 0.0082 | get 0.0041% / 4h | 3h 52m | $227K | $60K | 50x |
KuCoin ORCAUSDTM
BloFin ORCA-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BloFin 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
- −$3.85
- Price spread: −0.238% → −0.042%
- −$19.61
- Slippage, 4 orders
- −$387.07
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Fee BloFin: 6 bp × 2 orders
- −$12
- Net
- −$434.53
- Costs to cover
- 4.111%
- Break-even
- never at this rate
Slippage from KuCoin: live order book, 1 min ago; BloFin: live order book, 13 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, 1 min ago | 9.91 bp | 261.6 bp −$262 | doesn't fit | doesn't fit | doesn't fit |
| Sell BloFin live order book, 13 min ago | 3.31 bp | 16.3 bp −$16 | 52.7 bp −$527 | 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 | −0.0413% | 1h | 1.5072 | −0.293% | $9K | $14K | 10x | as long as short |
| BingX ORCA-USDT | +0.0070% | 4h | 1.5090 | −0.172% | — | $6.6M | — | as long as short |
| BloFin ORCA-USDTshort | +0.0082% | 4h | 1.5080 | −0.238% | $227K | $60K | 50x | |
| Aster ORCAUSDT | +0.0100% | 4h | 1.5098 | −0.121% | $44K | $44K | 5x | as long as short |
| Binance ORCAUSDT | +0.0100% | 4h | 1.5080 | −0.241% | $3.5M | $5.5M | 50x | as long as short |
| Bybit ORCAUSDT | +0.0100% | 4h | 1.5066 | −0.331% | $2.1M | $1.4M | 25x | as long as short |
| Gate ORCA_USDT | +0.0100% | 4h | 1.5088 | −0.185% | $125K | $46K | 25x | as long as short |
| MEXC ORCA_USDT | +0.0100% | 4h | 1.5070 | −0.304% | $702K | $137K | 20x | as long as short |
| KuCoin ORCAUSDTMlong | +0.0100% | 4h | 1.5116 | long leg | $582K | $207K | 30x | |
| Bitget ORCAUSDT | +0.0100% | 4h | 1.5090 | −0.172% | $686K | $574K | 25x | as long as short |
Kraken Futures PF_ORCAUSD
BingX ORCA-USDT
Aster ORCAUSDT
Binance ORCAUSDT
Bybit ORCAUSDT
Gate ORCA_USDT
MEXC ORCA_USDT
Bitget ORCAUSDTShow all 12 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Extended ORCA-USD | +0.0104% | 1h | 1.5084 | −0.210% | $3K | $157K | 5x | as long as short |
| Variational Omni ORCA | +0.1201% | 4h | 1.5092 | −0.156% | $28K | $12K | — | as long as short |
Extended ORCA-USD
Variational Omni ORCA