Funding you earn now, next payment 00:00 UTC−0.0030%/8h= −3.3% APRnext payment −$0.15 per $10,000 · paid last 24h +0.168%
Price spread now: BingX against MEXC−0.066%7-day average +0.060% · you buy dearer than you sell
Net, funding: paid 7d − costs−$53as in the Funding arb table
Net, price: spread back to 7d avg − costs−$85as in the Price arb table
costs, in and out, $10k−$720.725% of the position
Funding, last 7 days+0.192%+$19 on $10k
+Price spread, last 4 days (all we have)+0.135%+$14 · spread now −0.066%, 7d avg +0.060%
=Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and BingX is 0.127% cheaper against MEXC than usual: you would sell low and buy high (−$13 if the spread goes back to its 7-day average of +0.060%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.192%, 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 | MEXC ORCA_USDT | 1.5060 | 0.0100 | pay 0.0050% / 4h | 1h 16m | $702K | $146K | 20x |
| Short | BingX ORCA-USDT | 1.5050 | 0.0070 | get 0.0035% / 4h | 1h 16m | — | $6.6M | — |
MEXC ORCA_USDT
BingX ORCA-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BingX against MEXC. 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: −0.066% → +0.060%
- −$12.68
- Slippage, 4 orders
- −$58.47
- Fee MEXC: 2 bp × 2 orders
- −$4
- Fee BingX: 5 bp × 2 orders
- −$10
- Net
- −$91.45
- Costs to cover
- 0.725%
- Break-even
- never at this rate
Slippage from MEXC: live order book, 59 min ago; BingX: live order book, 11 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 MEXC live order book, 59 min ago | 3.32 bp | 12.9 bp −$13 | 31.0 bp −$310 | 371.0 bp −$37.1K | doesn't fit |
| Sell BingX live order book, 11 min ago | 9.92 bp | 25.1 bp −$25 | 61.9 bp −$619 | 639.9 bp −$64.0K | 1248.6 bp −$624.3K |
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 | −0.0177% | 1h | 1.5072 | +0.083% | $9K | $14K | 10x | as long as short |
| BingX ORCA-USDTshort | +0.0070% | 4h | 1.5050 | −0.066% | — | $6.6M | — | |
| BloFin ORCA-USDT | +0.0090% | 4h | 1.5050 | −0.066% | $230K | $59K | 50x | as long as short |
| Aster ORCAUSDT | +0.0100% | 4h | 1.5077 | +0.110% | $44K | $44K | 5x | as long as short |
| Binance ORCAUSDT | +0.0100% | 4h | 1.5070 | +0.066% | $3.5M | $5.5M | 50x | as long as short |
| Gate ORCA_USDT | +0.0100% | 4h | 1.5068 | +0.053% | $126K | $47K | 25x | as long as short |
| MEXC ORCA_USDTlong | +0.0100% | 4h | 1.5060 | long leg | $702K | $146K | 20x | |
| KuCoin ORCAUSDTM | +0.0100% | 4h | 1.5096 | +0.239% | $576K | $207K | 30x | as long as short |
| Bitget ORCAUSDT | +0.0100% | 4h | 1.5060 | 0.000% | $701K | $554K | 25x | as long as short |
| Extended ORCA-USD | +0.0104% | 1h | 1.5067 | +0.048% | $3K | $155K | 5x | as long as short |
Kraken Futures PF_ORCAUSD
BloFin ORCA-USDT
Aster ORCAUSDT
Binance ORCAUSDT
Gate 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 | +0.1534% | 4h | 1.5036 | −0.159% | $2.1M | $1.4M | 25x | as long as short |
| Variational Omni ORCA | +0.1803% | 4h | 1.5093 | +0.217% | $28K | $12K | — | as long as short |
Bybit ORCAUSDT
Variational Omni ORCA