Funding you earn now, next payment 04:00 UTC+0.1111%/8h= +121.6% APRpaid last 24h +0.011%
Price spread now: Orderly against BloFin−0.210%52s7-day average +0.081% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.070%−$7 on $10k
+Price spread, last 4 days (all we have)+0.268%+$27 · spread now −0.210%, 7d avg +0.081%
=Funding pays, the price is against you. Orderly is 0.291% cheaper against BloFin than usual: you would sell low and buy high (spread −0.210% now, against its 7-day average of +0.081%). If the spread goes back, that is −$29 on $10k: about 21 hours of funding at the current rate (+$33 a day). Mind the row above: over the last 7 days funding on this pair cost −0.070%, so the current rate has only just turned in your favour. The two prices were read 52 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 -0.070% in total (about -3.6% a year). A funding rate is set anew for every payment. 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 | BloFin RAY-USDT | 1.8099 | 0.0220 | pay 0.0220% / 8h | 4h 02m | $256K | $915K | 20x |
| Short | Orderly PERP_RAY_USDC | 1.8061 | 0.1331 | get 0.0665% / 4h | 2m 19s | $324K | $400K | 10x |
BloFin RAY-USDT
Orderly PERP_RAY_USDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Orderly against BloFin. 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
- $233.25
- Price spread: −0.210% → +0.081%
- −$29.1
- Slippage, 4 orders
- no order book: not counted
- Fee BloFin: 6 bp × 2 orders
- −$12
- Fee Orderly: 3 bp × 2 orders
- −$6
- Net
- $186.15
- Costs to cover
- 0.180%
- Break-even
- 1.4 days
Slippage unknown: BloFin: live order book, 35 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 BloFin live order book, 35 min ago | 3.05 bp | 20.1 bp −$20 | doesn't fit | doesn't fit | doesn't fit |
| 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 | −0.3796% | 1h | 1.8005 | −0.520% | $90K | $418K | 10x | as long as short |
| MEXC RAY_USDT | −0.0351% | 8h | 1.8012 | −0.481% | $12.6M | $2.5M | 100x | as long as short |
| gTrade (Gains Network) RAY/USD | L +0.0001% / S +0.0056% | 1h | 1.8010 | −0.490% | $1K | — | 150x | as long as short |
| Injective RAY/USDC PERP | +0.0033% | 1h | 1.6428 | −9.233% | $266 | $25 | 5.5x | as long as short |
| OKX RAY-USDT-SWAP | +0.0100% | 8h | 1.8006 | −0.514% | $4.4M | $12.9M | 20x | as long as short |
| Gate RAY_USDT | +0.0100% | 4h | 1.8016 | −0.459% | $580K | $1.2M | 25x | as long as short |
| KuCoin RAYUSDTM | +0.0100% | 4h | 1.8019 | −0.442% | $1.9M | $788K | 50x | as long as short |
| Bitget RAYUSDT | +0.0100% | 4h | 1.8017 | −0.453% | $2.6M | $3.8M | 25x | as long as short |
| BingX RAY-USDT | +0.0100% | 4h | 1.8022 | −0.425% | — | $2.0M | — | as long as short |
| Variational Omni RAY | +0.0100% | 4h | 1.7978 | −0.667% | $697K | $868K | — | as long as short |
Kraken Futures PF_RAYUSD
MEXC RAY_USDT
gTrade (Gains Network) RAY/USD
Injective RAY/USDC PERP
OKX RAY-USDT-SWAP
Gate RAY_USDT
KuCoin RAYUSDTM
Bitget RAYUSDT
BingX RAY-USDT
Variational Omni RAYShow all 16 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bullet RAY-USD | +0.0100% | 1h | 1.8022 | −0.424% | $68K | $66K | 10x | as long as short |
| SunX RAY-USDT | +0.0100% | 4h | 1.8017 | −0.453% | — | $2.4M | 10x | as long as short |
| HTX RAY-USDT | +0.0100% | 4h | 1.8029 | −0.387% | $13K | $90K | 20x | as long as short |
| BloFin RAY-USDTlong | +0.0220% | 8h | 1.8099 | long leg | $256K | $915K | 20x | |
| Lighter RAY | +0.0456% | 1h | 1.8042 | −0.315% | $260K | $311K | 5x | as long as short |
| Orderly PERP_RAY_USDCshort | +0.1331% | 4h | 1.8061 | −0.210% | $324K | $400K | 10x |
Bullet RAY-USD
SunX RAY-USDT
HTX RAY-USDT
Lighter RAY