RAY

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0028%/8h= −3.1% APRnext payment −$0.14 per $10,000 · paid last 24h −0.010%

Price spread now: Orderly against BingX+0.119%7-day average +0.029% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on BingX Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days−0.221%−$22 on $10k

Price spread, last 3 days (all we have)−0.039%−$4 · spread now +0.119%, 7d avg +0.029%

Together, before fees−0.259%−$26 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Orderly is 0.090% dearer against BingX than usual: you sell high and buy low (spread +0.119% now, against its 7-day average of +0.029%): +$9 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 11 days. At the pace of the last 7 days (−0.221% in total) that is about 2.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX RAY-USDT	1.8484	0.0584	pay 0.0292% / 4h	3h 19m	—	$2.0M	—
Short	Orderly PERP_RAY_USDC	1.8506	0.0556	get 0.0278% / 4h	3h 19m	$261K	$245K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

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

latest

Price spreadloading…

Funding on every exchange

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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 OrderlybpOrdersPrice spread, now +0.119%Rate

Funding earned: −$5.97
Price spread: +0.119% → +0.029%: $9.04
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$12.93
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: BingX: live order book, 13 min ago; Orderly: no order-book sample. Net counts fees only.

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, 13 min ago	2.20 bp	15.5 bp −$15	48.5 bp −$485	361.4 bp −$36.1K	655.0 bp −$327.5K
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Kraken Futures PF_RAYUSD	−0.1761%	1h	1.8559	+0.404%	$94K	$440K	10x	as long as short
gTrade (Gains Network) RAY/USD	L +0.0001% / S +0.0056%	1h	1.8477	−0.037%	$2K	—	150x	as long as short
Injective RAY/USDC PERP	+0.0033%	1h	1.6428	−11.123%	$266	$25	5.5x	as long as short
OKX RAY-USDT-SWAP	+0.0100%	8h	1.8471	−0.070%	$4.6M	$13.4M	20x	as long as short
Gate RAY_USDT	+0.0100%	4h	1.8465	−0.103%	$574K	$1.1M	25x	as long as short
KuCoin RAYUSDTM	+0.0100%	4h	1.8469	−0.081%	$2.0M	$770K	50x	as long as short
Bitget RAYUSDT	+0.0100%	4h	1.8478	−0.032%	$2.7M	$3.7M	25x	as long as short
Variational Omni RAY	+0.0100%	4h	1.8464	−0.106%	$723K	$1.0M	—	as long as short
Bullet RAY-USD	+0.0100%	1h	1.8492	+0.043%	$109K	$44K	10x	as long as short
SunX RAY-USDT	+0.0100%	4h	1.8495	+0.060%	—	$2.6M	10x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX RAY-USDT	+0.0100%	4h	1.8478	−0.032%	$14K	$111K	20x	as long as short
BloFin RAY-USDT	+0.0220%	8h	1.8471	−0.070%	$255K	$882K	20x	as long as short
Lighter RAY	+0.0392%	1h	1.8514	+0.162%	$277K	$283K	5x	as long as short
Orderly PERP_RAY_USDCshort	+0.0556%	4h	1.8506	+0.119%	$261K	$245K	10x
BingX RAY-USDTlong	+0.0584%	4h	1.8484	long leg	—	$2.0M	—
MEXC RAY_USDT	+0.0623%	8h	1.8488	+0.022%	$13.0M	$2.5M	100x	as long as short