Funding you earn now, next payment 01:00 UTC+0.1862%/8h= +203.8% APRpaid last 24h +0.152%
Price spread now: Bitget against Kraken Futures−0.281%7-day average −0.118% · you buy dearer than you sell
Net, funding: paid 7d − costs−$310as in the Funding arb table
Net, price: spread back to 7d avg − costs−$328as in the Price arb table
costs, in and out, $10k−$3123.116% of the position
Funding, last 7 days+0.019%+$2 on $10k
+Price spread, last 3 days (all we have)+0.067%+$7 · spread now −0.281%, 7d avg −0.118%
=Funding pays, the price is against you. Bitget is 0.163% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.281% now, against its 7-day average of −0.118%). If the spread goes back, that is −$16 on $10k: about 7 hours of funding at the current rate (+$56 a day). At the pace of the last 7 days (+0.019% in total) that is about 59 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.019% in total (about 1.0% a year). A funding rate is set anew for every payment. 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 | Kraken Futures PF_RAYUSD | 1.8556 | −0.1762 | get 0.0220% / 1h | 17m 52s | $94K | $440K | 10x |
| Short | Bitget RAYUSDT | 1.8504 | 0.0100 | get 0.0050% / 4h | 3h 17m | $2.7M | $3.7M | 25x |
Kraken Futures PF_RAYUSD
Bitget RAYUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bitget against Kraken Futures. 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
- $390.92
- Price spread: −0.281% → −0.118%
- −$16.31
- Slippage, 4 orders
- −$289.56
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Bitget: 6 bp × 2 orders
- −$12
- Net
- $63.05
- Costs to cover
- 3.116%
- Break-even
- 5.9 days
Slippage from Kraken Futures: live order book, 55 min ago; Bitget: live order book, 5 min ago.
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 Kraken Futures live order book, 55 min ago | 67.29 bp | 117.6 bp −$118 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bitget live order book, 5 min ago | 4.60 bp | 19.6 bp −$20 | 66.8 bp −$668 | doesn't fit | doesn't fit |
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_RAYUSDlong | −0.1762% | 1h | 1.8556 | long leg | $94K | $440K | 10x | |
| gTrade (Gains Network) RAY/USD | L +0.0001% / S +0.0056% | 1h | 1.8459 | −0.526% | $2K | — | 150x | as long as short |
| Injective RAY/USDC PERP | +0.0033% | 1h | 1.6428 | −11.469% | $266 | $25 | 5.5x | as long as short |
| MEXC RAY_USDT | +0.0050% | 8h | 1.8501 | −0.297% | $13.1M | $2.5M | 100x | as long as short |
| OKX RAY-USDT-SWAP | +0.0100% | 8h | 1.8496 | −0.324% | $4.6M | $13.4M | 20x | as long as short |
| Gate RAY_USDT | +0.0100% | 4h | 1.8467 | −0.480% | $573K | $1.1M | 25x | as long as short |
| KuCoin RAYUSDTM | +0.0100% | 4h | 1.8479 | −0.416% | $2.0M | $771K | 50x | as long as short |
| Bitget RAYUSDTshort | +0.0100% | 4h | 1.8504 | −0.281% | $2.7M | $3.7M | 25x | |
| Variational Omni RAY | +0.0100% | 4h | 1.8464 | −0.494% | $723K | $1.0M | — | as long as short |
| Bullet RAY-USD | +0.0100% | 1h | 1.8450 | −0.572% | $108K | $44K | 10x | as long as short |
gTrade (Gains Network) RAY/USD
Injective RAY/USDC PERP
MEXC RAY_USDT
OKX RAY-USDT-SWAP
Gate RAY_USDT
KuCoin RAYUSDTM
Variational Omni RAY
Bullet RAY-USDShow all 16 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX RAY-USDT | +0.0100% | 4h | 1.8478 | −0.421% | — | $2.6M | 10x | as long as short |
| HTX RAY-USDT | +0.0100% | 4h | 1.8453 | −0.556% | $13K | $111K | 20x | as long as short |
| BloFin RAY-USDT | +0.0220% | 8h | 1.8424 | −0.712% | $255K | $880K | 20x | as long as short |
| Lighter RAY | +0.0440% | 1h | 1.8532 | −0.130% | $277K | $283K | 5x | as long as short |
| Orderly PERP_RAY_USDC | +0.0559% | 4h | 1.8485 | −0.383% | $260K | $245K | 10x | as long as short |
| BingX RAY-USDT | +0.0584% | 4h | 1.8500 | −0.302% | — | $2.0M | — | as long as short |
SunX RAY-USDT
HTX RAY-USDT
BloFin RAY-USDT
Lighter RAY
Orderly PERP_RAY_USDC
BingX RAY-USDT