RAY

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.2413%/8h= −264.2% APRnext payment −$3.02 per $10,000 · paid last 24h −0.101%

Price spread now: Kraken Futures against Injective+12.221%7-day average — · you sell dearer than you buy

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

Long on Injective Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 4 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 12.221% dearer against Injective than usual: you sell high and buy low (spread +12.221% now, against zero (this spread has no 7-day history yet)): +$1,222 on $10k if it goes back. Holding the pair costs −$72 a day in funding at the current rate, which eats that in about 17 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective RAY/USDC PERP	1.6428	0.0033	pay 0.0004% / 1h	52m 37s	$266	$25	5.5x
Short	Kraken Futures PF_RAYUSD	1.8436	−0.2380	pay 0.0297% / 1h	52m 37s	$97K	$441K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Injective. 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 InjectivebpFee Kraken FuturesbpOrdersPrice spread, now +12.221%Rate

Funding earned: −$506.75
Price spread: +12.221% → 0.000%: $1,222.05
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $705.28
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; Kraken Futures: live order book, 25 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 Injective no order-book sample	—	—	—	—	—
Sell Kraken Futures live order book, 25 min ago	33.02 bp	96.3 bp −$96	doesn't fit	doesn't fit	doesn't fit

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_RAYUSDshort	−0.2380%	1h	1.8436	+12.221%	$97K	$441K	10x
gTrade (Gains Network) RAY/USD	L +0.0001% / S +0.0056%	1h	1.8416	+12.099%	$2K	—	150x	as long as short
Injective RAY/USDC PERPlong	+0.0033%	1h	1.6428	long leg	$266	$25	5.5x
OKX RAY-USDT-SWAP	+0.0100%	8h	1.8390	+11.943%	$4.6M	$13.3M	20x	as long as short
Gate RAY_USDT	+0.0100%	4h	1.8422	+12.138%	$574K	$1.1M	25x	as long as short
KuCoin RAYUSDTM	+0.0100%	4h	1.8426	+12.162%	$2.0M	$745K	50x	as long as short
Bitget RAYUSDT	+0.0100%	4h	1.8430	+12.187%	$2.7M	$3.5M	25x	as long as short
Variational Omni RAY	+0.0100%	4h	1.8394	+11.967%	$730K	$1.0M	—	as long as short
Bullet RAY-USD	+0.0100%	1h	1.8426	+12.162%	$108K	$47K	10x	as long as short
SunX RAY-USDT	+0.0100%	4h	1.8417	+12.107%	—	$2.6M	10x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX RAY-USDT	+0.0100%	4h	1.8415	+12.095%	$15K	$128K	20x	as long as short
BloFin RAY-USDT	+0.0220%	8h	1.8409	+12.059%	$259K	$868K	20x	as long as short
MEXC RAY_USDT	+0.0273%	8h	1.8436	+12.223%	$13.4M	$2.5M	100x	as long as short
BingX RAY-USDT	+0.0282%	4h	1.8429	+12.180%	—	$2.0M	—	as long as short
Lighter RAY	+0.0536%	1h	1.8460	+12.369%	$295K	$253K	5x	as long as short
Orderly PERP_RAY_USDC	+0.0571%	4h	1.8448	+12.296%	$256K	$248K	10x	as long as short