RAY

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0339%/8h= +37.1% APRnext payment +$1.69 per $10,000 · paid last 24h 0.000%

Price spread now: Orderly against HTX+0.522%7-day average +0.053% · you sell dearer than you buy

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

Long on HTX Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days−0.039%−$4 on $10k

Price spread, last 3 days (all we have)−0.508%−$51 · spread now +0.522%, 7d avg +0.053%

Together, before fees−0.547%−$55 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and Orderly is 0.469% dearer against HTX than usual: you sell high and buy low: +$47 more if the spread goes back to its 7-day average of +0.053%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.039% in total (about -2.1% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.69 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	HTX RAY-USDT	1.8205	0.0100	pay 0.0050% / 4h	1h 55m	$15K	$142K	20x
Short	Orderly PERP_RAY_USDC	1.8300	0.0439	get 0.0219% / 4h	1h 55m	$253K	$250K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against HTX. 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 HTXbpFee OrderlybpOrdersPrice spread, now +0.522%Rate

Funding earned: $71.13
Price spread: +0.522% → +0.053%: $46.88
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee Orderly: 3 bp × 2 orders: −$6
Net: $100.01
Costs to cover: 0.180%
Break-even: from the start

Slippage unknown: HTX: live order book, 26 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 HTX live order book, 26 min ago	41.56 bp	doesn't fit	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	−0.2317%	1h	1.8216	+0.059%	$98K	$453K	10x	as long as short
gTrade (Gains Network) RAY/USD	L +0.0001% / S +0.0056%	1h	1.8273	+0.375%	$1K	—	150x	as long as short
MEXC RAY_USDT	+0.0002%	8h	1.8294	+0.489%	$13.4M	$2.5M	100x	as long as short
Injective RAY/USDC PERP	+0.0033%	1h	1.6428	−9.761%	$266	$25	5.5x	as long as short
OKX RAY-USDT-SWAP	+0.0100%	8h	1.8281	+0.417%	$4.6M	$13.2M	20x	as long as short
Gate RAY_USDT	+0.0100%	4h	1.8277	+0.395%	$578K	$1.1M	25x	as long as short
KuCoin RAYUSDTM	+0.0100%	4h	1.8288	+0.456%	$2.0M	$776K	50x	as long as short
Bitget RAYUSDT	+0.0100%	4h	1.8288	+0.456%	$2.7M	$3.4M	25x	as long as short
BingX RAY-USDT	+0.0100%	4h	1.8291	+0.472%	—	$2.0M	—	as long as short
Variational Omni RAY	+0.0100%	4h	1.8155	−0.276%	$712K	$1.1M	—	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bullet RAY-USD	+0.0100%	1h	1.8282	+0.423%	$107K	$47K	10x	as long as short
SunX RAY-USDT	+0.0100%	4h	1.8285	+0.439%	—	$2.6M	10x	as long as short
HTX RAY-USDTlong	+0.0100%	4h	1.8205	long leg	$15K	$142K	20x
Lighter RAY	+0.0176%	1h	1.8324	+0.654%	$299K	$248K	5x	as long as short
BloFin RAY-USDT	+0.0220%	8h	1.8196	−0.049%	$258K	$858K	20x	as long as short
Orderly PERP_RAY_USDCshort	+0.0439%	4h	1.8300	+0.522%	$253K	$250K	10x