RAY

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.1682%/8h= −184.2% APRnext payment −$2.10 per $10,000 · paid last 24h −0.173%

Price spread now: Kraken Futures against Bullet+0.210%7-day average — · you sell dearer than you buy

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

Long on Bullet Short on Kraken Futures

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

The price spread pays, funding is against you. Kraken Futures is 0.210% dearer against Bullet than usual: you sell high and buy low (spread +0.210% now, against zero (this spread has no 7-day history yet)): +$21 on $10k if it goes back. Holding the pair costs −$50 a day in funding at the current rate, which eats that in about 10 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bullet RAY-USD	1.7440	0.0100	pay 0.0013% / 1h	36m 46s	$65K	$66K	10x
Short	Kraken Futures PF_RAYUSD	1.7477	−0.1582	pay 0.0198% / 1h	36m 46s	$86K	$397K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.210%Rate

Funding earned: −$353.24
Price spread: +0.210% → 0.000%: $21.04
Slippage, 4 orders: no order book: not counted
Fee Bullet: 4 bp × 2 orders: −$8
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$350.19
Costs to cover: 0.180%
Break-even: from the start

Slippage unknown: Bullet: no order-book sample; Kraken Futures: live order book, 11 min ago. 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 Kraken Futures live order book, 11 min ago	79.50 bp	104.1 bp −$104	doesn't fit	doesn't fit	doesn't fit

Bullet: 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_RAYUSDshort	−0.1582%	1h	1.7477	+0.210%	$86K	$397K	10x
gTrade (Gains Network) RAY/USD	L +0.0001% / S +0.0056%	1h	1.7419	−0.120%	$431	—	150x	as long as short
Injective RAY/USDC PERP	+0.0033%	1h	1.6428	−5.803%	$266	$25	5.5x	as long as short
MEXC RAY_USDT	+0.0050%	8h	1.7442	+0.012%	$11.8M	$2.5M	100x	as long as short
OKX RAY-USDT-SWAP	+0.0100%	8h	1.7431	−0.051%	$4.2M	$12.9M	20x	as long as short
Gate RAY_USDT	+0.0100%	4h	1.7422	−0.103%	$545K	$1.2M	25x	as long as short
KuCoin RAYUSDTM	+0.0100%	4h	1.7433	−0.040%	$1.9M	$831K	50x	as long as short
Bitget RAYUSDT	+0.0100%	4h	1.7431	−0.051%	$2.6M	$4.0M	25x	as long as short
BingX RAY-USDT	+0.0100%	4h	1.7442	+0.012%	—	$2.0M	—	as long as short
Variational Omni RAY	+0.0100%	4h	1.7383	−0.329%	$670K	$870K	—	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bullet RAY-USDlong	+0.0100%	1h	1.7440	long leg	$65K	$66K	10x
SunX RAY-USDT	+0.0100%	4h	1.7447	+0.040%	—	$2.4M	10x	as long as short
HTX RAY-USDT	+0.0100%	4h	1.7447	+0.040%	$13K	$91K	20x	as long as short
BloFin RAY-USDT	+0.0220%	8h	1.7397	−0.246%	$245K	$926K	20x	as long as short
Lighter RAY	+0.0432%	1h	1.7463	+0.132%	$246K	$309K	5x	as long as short
Orderly PERP_RAY_USDC	+0.1848%	4h	1.7469	+0.166%	$313K	$391K	10x	as long as short