Funding you earn now, next payment 12:00 UTC+0.0216%/8h= +23.7% APRnext payment +$1.08 per $10,000 · paid last 24h 0.000%
Price spread now: Gate against MEXC+0.186%7-day average +0.014% · you sell dearer than you buy
Net, funding: paid 7d − costs−$96as in the Funding arb table
Net, price: spread back to 7d avg − costs−$77as in the Price arb table
costs, in and out, $10k−$940.942% of the position
Funding, last 7 days−0.014%−$1 on $10k
+Price spread, last 4 days (all we have)−0.261%−$26 · spread now +0.186%, 7d avg +0.014%
=Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Gate is 0.172% dearer against MEXC than usual: you sell high and buy low: +$17 more if the spread goes back to its 7-day average of +0.014%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.014% in total (about -0.8% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.08 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | MEXC ORCA_USDT | 1.5090 | 0.0100 | pay 0.0050% / 4h | 3h 02m | $695K | $124K | 20x |
| Short | Gate ORCA_USDT | 1.5118 | 0.0316 | get 0.0158% / 4h | 3h 02m | $146K | $47K | 25x |
MEXC ORCA_USDT
Gate ORCA_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Gate 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
- $45.36
- Price spread: +0.186% → +0.014%
- $17.19
- Slippage, 4 orders
- −$75.21
- Fee MEXC: 2 bp × 2 orders
- −$4
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Net
- −$31.66
- Costs to cover
- 0.942%
- Break-even
- 11.9 days
Slippage from MEXC: live order book, 18 min ago; Gate: live order book, 23 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, 18 min ago | 3.34 bp | 15.1 bp −$15 | 42.9 bp −$429 | 462.8 bp −$46.3K | doesn't fit |
| Sell Gate live order book, 23 min ago | 12.08 bp | 35.8 bp −$36 | doesn't fit | 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 | −0.0595% | 1h | 1.5090 | 0.000% | $9K | $8K | 10x | as long as short |
| BingX ORCA-USDT | +0.0070% | 4h | 1.5100 | +0.066% | — | $6.6M | — | as long as short |
| Binance ORCAUSDT | +0.0100% | 4h | 1.5100 | +0.066% | $3.5M | $5.3M | 50x | as long as short |
| MEXC ORCA_USDTlong | +0.0100% | 4h | 1.5090 | long leg | $695K | $124K | 20x | |
| Bitget ORCAUSDT | +0.0100% | 4h | 1.5100 | +0.066% | $674K | $679K | 25x | as long as short |
| Extended ORCA-USD | +0.0104% | 1h | 1.5102 | +0.078% | $2K | $208K | 5x | as long as short |
| BloFin ORCA-USDT | +0.0111% | 4h | 1.5120 | +0.199% | $222K | $58K | 50x | as long as short |
| Aster ORCAUSDT | +0.0270% | 4h | 1.5106 | +0.104% | $44K | $31K | 5x | as long as short |
| Gate ORCA_USDTshort | +0.0316% | 4h | 1.5118 | +0.186% | $146K | $47K | 25x | |
| KuCoin ORCAUSDTM | +0.0470% | 4h | 1.5133 | +0.285% | $553K | $201K | 30x | as long as short |
Kraken Futures PF_ORCAUSD
BingX ORCA-USDT
Binance ORCAUSDT
Bitget ORCAUSDT
Extended ORCA-USD
BloFin ORCA-USDT
Aster ORCAUSDT
KuCoin ORCAUSDTMShow all 12 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit ORCAUSDT | +0.0980% | 4h | 1.5083 | −0.046% | $2.0M | $1.5M | 25x | as long as short |
| Variational Omni ORCA | +0.1155% | 4h | 1.5116 | +0.172% | $32K | $13K | — | as long as short |
Bybit ORCAUSDT
Variational Omni ORCA