Funding you earn now, next payment 00:00 UTC−0.0303%/8h= −33.2% APRnext payment −$1.52 per $10,000 · paid last 24h −0.032%
Price spread now: SunX against BingX−0.234%55s7-day average −0.003% · you buy dearer than you sell
Net, funding: paid 7d − costs−$178as 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−$1571.575% of the position
Funding, last 7 days−0.207%−$21 on $10k
+Price spread, last 3 days (all we have)+0.228%+$23 · spread now −0.234%, 7d avg −0.003%
=Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and SunX is 0.231% cheaper against BingX than usual: you would sell low and buy high (−$23 if the spread goes back to its 7-day average of −0.003%). Swap the legs. The two prices were read 55 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.207% in total (about -10.8% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.52 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 | 1.8399 | 0.0403 | pay 0.0202% / 4h | 2h 55m | — | $2.0M | — |
| Short | SunX RAY-USDT | 1.8356 | 0.0100 | get 0.0050% / 4h | 2h 55m | — | $2.6M | 10x |
BingX RAY-USDT
SunX RAY-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
SunX against BingX. 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
- −$63.67
- Price spread: −0.234% → −0.003%
- −$23.1
- Slippage, 4 orders
- −$139.49
- Fee BingX: 5 bp × 2 orders
- −$10
- Fee SunX: 4 bp × 2 orders
- −$8
- Net
- −$244.26
- Costs to cover
- 1.575%
- Break-even
- never at this rate
Slippage from BingX: live order book, 8 min ago; SunX: live order book, 1 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, 8 min ago | 2.17 bp | 14.8 bp −$15 | 44.0 bp −$440 | 320.3 bp −$32.0K | 686.7 bp −$343.3K |
| Sell SunX live order book, 1 min ago | 45.03 bp | 63.9 bp −$64 | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_RAYUSD | −0.0047% | 1h | 1.8334 | −0.353% | $108K | $433K | 10x | as long as short |
| gTrade (Gains Network) RAY/USD | L +0.0001% / S +0.0056% | 1h | 1.8389 | −0.052% | $1K | — | 150x | as long as short |
| Injective RAY/USDC PERP | +0.0033% | 1h | 1.6428 | −10.713% | $266 | $25 | 5.5x | as long as short |
| OKX RAY-USDT-SWAP | +0.0100% | 8h | 1.8391 | −0.043% | $4.6M | $13.3M | 20x | as long as short |
| Gate RAY_USDT | +0.0100% | 4h | 1.8377 | −0.120% | $591K | $1.1M | 25x | as long as short |
| KuCoin RAYUSDTM | +0.0100% | 4h | 1.8391 | −0.043% | $2.1M | $759K | 50x | as long as short |
| Bitget RAYUSDT | +0.0100% | 4h | 1.8389 | −0.054% | $2.6M | $3.3M | 25x | as long as short |
| Variational Omni RAY | +0.0100% | 4h | 1.8358 | −0.221% | $724K | $1.1M | — | as long as short |
| Bullet RAY-USD | +0.0100% | 1h | 1.8394 | −0.025% | $108K | $46K | 10x | as long as short |
| SunX RAY-USDTshort | +0.0100% | 4h | 1.8356 | −0.234% | — | $2.6M | 10x |
Kraken Futures PF_RAYUSD
gTrade (Gains Network) RAY/USD
Injective RAY/USDC PERP
OKX RAY-USDT-SWAP
Gate RAY_USDT
KuCoin RAYUSDTM
Bitget RAYUSDT
Variational Omni RAY
Bullet RAY-USDShow all 16 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX RAY-USDT | +0.0100% | 4h | 1.8326 | −0.397% | $15K | $155K | 20x | as long as short |
| BloFin RAY-USDT | +0.0220% | 8h | 1.8356 | −0.234% | $259K | $851K | 20x | as long as short |
| Orderly PERP_RAY_USDC | +0.0302% | 4h | 1.8428 | +0.158% | $257K | $230K | 10x | as long as short |
| MEXC RAY_USDT | +0.0353% | 8h | 1.8389 | −0.054% | $13.8M | $2.5M | 100x | as long as short |
| BingX RAY-USDTlong | +0.0403% | 4h | 1.8399 | long leg | — | $2.0M | — | |
| Lighter RAY | +0.0472% | 1h | 1.8382 | −0.092% | $330K | $237K | 5x | as long as short |
HTX RAY-USDT
BloFin RAY-USDT
Orderly PERP_RAY_USDC
MEXC RAY_USDT
Lighter RAY