RAY

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0558%/8h= −61.1% APRnext payment −$2.79 per $10,000 · paid last 24h −0.041%

Price spread now: KuCoin against BingX−0.011%7-day average −0.001% · you buy dearer than you sell

Net, funding: paid 7d − costs−$138as in the Funding arb table

Net, price: spread back to 7d avg − costs−$112as in the Price arb table

costs, in and out, $10k−$1111.111% of the position

Long on BingX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.274%−$27 on $10k

Price spread, last 7 days+0.077%+$8 · spread now −0.011%, 7d avg −0.001%

Together, before fees−0.197%−$20 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.001%, so right now this pair is about funding alone: −$17 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.274% in total (about -14.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$2.79 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	BingX RAY-USDT	1.7611	0.0658	pay 0.0329% / 4h	1m 13s	—	$2.0M	—
Short	KuCoin RAYUSDTM	1.7609	0.0100	get 0.0050% / 4h	1m 13s	$1.8M	$830K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against BingX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BingXbpFee KuCoinbpOrdersPrice spread, now −0.011%Rate

Funding earned: −$117.18
Price spread: −0.011% → −0.001%: −$1.07
Slippage, 4 orders: −$89.06
Fee BingX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$229.32
Costs to cover: 1.111%
Break-even: never at this rate

Slippage from BingX: live order book, 2 min ago; KuCoin: live order book, 5 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 BingX live order book, 2 min ago	2.27 bp	15.7 bp −$16	48.8 bp −$488	404.4 bp −$40.4K	681.8 bp −$340.9K
Sell KuCoin live order book, 5 min ago	8.80 bp	36.7 bp −$37	346.1 bp −$3,461	doesn't fit	doesn't fit

RAY on 16 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
gTrade (Gains Network) RAY/USD	L +0.0001% / S +0.0056%	1h	1.7606	−0.027%	$3K	—	150x	as long as short
Injective RAY/USDC PERP	+0.0033%	1h	1.6428	−6.717%	$266	$25	5.5x	as long as short
OKX RAY-USDT-SWAP	+0.0100%	8h	1.7612	+0.006%	$4.2M	$12.7M	20x	as long as short
Gate RAY_USDT	+0.0100%	4h	1.7606	−0.028%	$549K	$1.2M	25x	as long as short
KuCoin RAYUSDTMshort	+0.0100%	4h	1.7609	−0.011%	$1.8M	$830K	50x
Bitget RAYUSDT	+0.0100%	4h	1.7616	+0.028%	$2.6M	$3.9M	25x	as long as short
Variational Omni RAY	+0.0100%	4h	1.7612	+0.006%	$657K	$806K	—	as long as short
Bullet RAY-USD	+0.0100%	1h	1.7621	+0.057%	$66K	$28K	10x	as long as short
SunX RAY-USDT	+0.0100%	4h	1.7619	+0.045%	—	$2.4M	10x	as long as short
HTX RAY-USDT	+0.0100%	4h	1.7626	+0.085%	$13K	$89K	20x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin RAY-USDT	+0.0220%	8h	1.7593	−0.102%	$240K	$874K	20x	as long as short
Lighter RAY	+0.0240%	1h	1.7632	+0.119%	$228K	$336K	5x	as long as short
BingX RAY-USDTlong	+0.0658%	4h	1.7611	long leg	—	$2.0M	—
MEXC RAY_USDT	+0.0753%	8h	1.7611	0.000%	$11.7M	$2.5M	100x	as long as short
Kraken Futures PF_RAYUSD	+0.1610%	1h	1.7675	+0.364%	$93K	$385K	10x	as long as short
Orderly PERP_RAY_USDC	+0.2132%	4h	1.7645	+0.193%	$312K	$386K	10x	as long as short