Funding you earn now, next payment 04:00 UTC+0.0463%/8h= +50.7% APRnext payment +$2.32 per $10,000 · paid last 24h +0.024%
Price spread now: Orderly against Gate+0.206%7-day average +0.050% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.113%+$11 on $10k
+Price spread, last 3 days (all we have)−0.122%−$12 · spread now +0.206%, 7d avg +0.050%
=Both sides work for this trade now. Funding pays +$14 a day on $10k at the current rate, and Orderly is 0.156% dearer against Gate than usual: you sell high and buy low: +$16 more if the spread goes back to its 7-day average of +0.050%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.113% in total (about 5.9% a year). A funding rate is set anew for every payment; at this rate the next one is about +$2.32 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 | Gate RAY_USDT | 1.7951 | 0.0100 | pay 0.0050% / 4h | 3h 46m | $559K | $1.1M | 25x |
| Short | Orderly PERP_RAY_USDC | 1.7988 | 0.0563 | get 0.0282% / 4h | 3h 46m | $250K | $242K | 10x |
Gate RAY_USDT
Orderly PERP_RAY_USDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Orderly against Gate. 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
- $97.28
- Price spread: +0.206% → +0.050%
- $15.63
- Slippage, 4 orders
- no order book: not counted
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Fee Orderly: 3 bp × 2 orders
- −$6
- Net
- $91.92
- Costs to cover
- 0.210%
- Break-even
- 0.4 days
Slippage unknown: Gate: live order book, 5 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 Gate live order book, 5 min ago | 3.92 bp | 67.6 bp −$68 | 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 | −0.1823% | 1h | 1.7935 | −0.089% | $95K | $434K | 10x | as long as short |
| MEXC RAY_USDT | −0.0030% | 8h | 1.7973 | +0.123% | $12.7M | $2.5M | 100x | as long as short |
| gTrade (Gains Network) RAY/USD | L +0.0001% / S +0.0056% | 1h | 1.7954 | +0.019% | $2K | — | 150x | as long as short |
| Injective RAY/USDC PERP | +0.0033% | 1h | 1.6428 | −8.484% | $266 | $25 | 5.5x | as long as short |
| Lighter RAY | +0.0096% | 1h | 1.7981 | +0.167% | $274K | $277K | 5x | as long as short |
| OKX RAY-USDT-SWAP | +0.0100% | 8h | 1.7978 | +0.150% | $4.5M | $13.1M | 20x | as long as short |
| Gate RAY_USDTlong | +0.0100% | 4h | 1.7951 | long leg | $559K | $1.1M | 25x | |
| KuCoin RAYUSDTM | +0.0100% | 4h | 1.7968 | +0.095% | $2.0M | $763K | 50x | as long as short |
| Bitget RAYUSDT | +0.0100% | 4h | 1.7974 | +0.128% | $2.6M | $3.6M | 25x | as long as short |
| BingX RAY-USDT | +0.0100% | 4h | 1.7981 | +0.167% | — | $2.1M | — | as long as short |
Kraken Futures PF_RAYUSD
MEXC RAY_USDT
gTrade (Gains Network) RAY/USD
Injective RAY/USDC PERP
Lighter RAY
OKX RAY-USDT-SWAP
KuCoin RAYUSDTM
Bitget RAYUSDT
BingX RAY-USDTShow all 16 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni RAY | +0.0100% | 4h | 1.7896 | −0.305% | $701K | $1.0M | — | as long as short |
| Bullet RAY-USD | +0.0100% | 1h | 1.7952 | +0.005% | $105K | $44K | 10x | as long as short |
| SunX RAY-USDT | +0.0100% | 4h | 1.7934 | −0.095% | — | $2.6M | 10x | as long as short |
| HTX RAY-USDT | +0.0100% | 4h | 1.7953 | +0.011% | $15K | $113K | 20x | as long as short |
| BloFin RAY-USDT | +0.0220% | 8h | 1.7953 | +0.011% | $256K | $860K | 20x | as long as short |
| Orderly PERP_RAY_USDCshort | +0.0563% | 4h | 1.7988 | +0.206% | $250K | $242K | 10x |
Variational Omni RAY
Bullet RAY-USD
SunX RAY-USDT
HTX RAY-USDT
BloFin RAY-USDT