RAY

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0067%/8h= −7.3% APRnext payment −$0.08 per $10,000 · paid last 24h −0.006%

Price spread now: Injective against Bullet−8.255%54s7-day average — · you buy dearer than you sell

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

Long on Bullet Short on Injective

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Injective is 8.255% cheaper against Bullet than usual: you would sell low and buy high (−$825 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bullet RAY-USD	1.7906	0.0100	pay 0.0013% / 1h	32m 26s	$67K	$66K	10x
Short	Injective RAY/USDC PERP	1.6428	0.0033	get 0.0004% / 1h	32m 26s	$266	$25	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Bullet. 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 BulletbpFee InjectivebpOrdersPrice spread, now −8.255%Rate

Funding earned: −$14
Price spread: −8.255% → 0.000%: −$825.48
Slippage, 4 orders: no order book: not counted
Fee Bullet: 4 bp × 2 orders: −$8
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$847.5
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: Bullet: no order-book sample; Injective: 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 Bullet no order-book sample	—	—	—	—	—
Sell Injective no order-book sample	—	—	—	—	—

Bullet and Injective: 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	−0.2690%	1h	1.7845	−0.342%	$90K	$397K	10x	as long as short
gTrade (Gains Network) RAY/USD	L +0.0001% / S +0.0056%	1h	1.7903	−0.019%	$1K	—	150x	as long as short
Injective RAY/USDC PERPshort	+0.0033%	1h	1.6428	−8.255%	$266	$25	5.5x
MEXC RAY_USDT	+0.0050%	8h	1.7914	+0.044%	$12.4M	$2.5M	100x	as long as short
Lighter RAY	+0.0096%	1h	1.7948	+0.234%	$257K	$302K	5x	as long as short
OKX RAY-USDT-SWAP	+0.0100%	8h	1.7899	−0.040%	$4.3M	$12.8M	20x	as long as short
Gate RAY_USDT	+0.0100%	4h	1.7898	−0.045%	$578K	$1.1M	25x	as long as short
KuCoin RAYUSDTM	+0.0100%	4h	1.7910	+0.022%	$1.9M	$783K	50x	as long as short
Bitget RAYUSDT	+0.0100%	4h	1.7914	+0.044%	$2.6M	$3.8M	25x	as long as short
BingX RAY-USDT	+0.0100%	4h	1.7915	+0.050%	—	$2.0M	—	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni RAY	+0.0100%	4h	1.7837	−0.384%	$692K	$868K	—	as long as short
Bullet RAY-USDlong	+0.0100%	1h	1.7906	long leg	$67K	$66K	10x
SunX RAY-USDT	+0.0100%	4h	1.7903	−0.017%	—	$2.4M	10x	as long as short
HTX RAY-USDT	+0.0100%	4h	1.7857	−0.274%	$13K	$90K	20x	as long as short
BloFin RAY-USDT	+0.0220%	8h	1.7891	−0.084%	$249K	$937K	20x	as long as short
Orderly PERP_RAY_USDC	+0.1552%	4h	1.7945	+0.217%	$322K	$400K	10x	as long as short