RAY

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.2735%/8h= +299.5% APRnext payment +$3.42 per $10,000 · paid last 24h +0.127%

Price spread now: Injective against Kraken Futures−7.527%63s7-day average — · you buy dearer than you sell

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

Long on Kraken Futures Short on Injective

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

Funding pays, the price is against you. Injective is 7.527% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −7.527% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$753 on $10k: about 9.2 days of funding at the current rate (+$82 a day). The two prices were read 63 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_RAYUSD	1.7765	−0.2702	get 0.0338% / 1h	8m 11s	$89K	$392K	10x
Short	Injective RAY/USDC PERP	1.6428	0.0033	get 0.0004% / 1h	8m 11s	$266	$25	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Kraken Futures. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Kraken FuturesbpFee InjectivebpOrdersPrice spread, now −7.527%Rate

Funding earned: $574.36
Price spread: −7.527% → 0.000%: −$752.69
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$188.35
Costs to cover: 0.100%
Break-even: 9.3 days

Slippage unknown: Kraken Futures: live order book, 45 min ago; Injective: 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 Kraken Futures live order book, 45 min ago	41.72 bp	90.6 bp −$91	doesn't fit	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

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_RAYUSDlong	−0.2702%	1h	1.7765	long leg	$89K	$392K	10x
MEXC RAY_USDT	−0.0218%	8h	1.7785	+0.112%	$12.3M	$2.5M	100x	as long as short
gTrade (Gains Network) RAY/USD	L +0.0001% / S +0.0056%	1h	1.7780	+0.082%	$1K	—	150x	as long as short
Injective RAY/USDC PERPshort	+0.0033%	1h	1.6428	−7.527%	$266	$25	5.5x
Lighter RAY	+0.0096%	1h	1.7808	+0.241%	$253K	$304K	5x	as long as short
OKX RAY-USDT-SWAP	+0.0100%	8h	1.7786	+0.117%	$4.3M	$12.7M	20x	as long as short
Gate RAY_USDT	+0.0100%	4h	1.7772	+0.038%	$576K	$1.2M	25x	as long as short
KuCoin RAYUSDTM	+0.0100%	4h	1.7768	+0.016%	$1.9M	$787K	50x	as long as short
Bitget RAYUSDT	+0.0100%	4h	1.7789	+0.134%	$2.6M	$3.8M	25x	as long as short
BingX RAY-USDT	+0.0100%	4h	1.7787	+0.123%	—	$2.0M	—	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni RAY	+0.0100%	4h	1.7761	−0.025%	$689K	$866K	—	as long as short
Bullet RAY-USD	+0.0100%	1h	1.7774	+0.050%	$67K	$66K	10x	as long as short
SunX RAY-USDT	+0.0100%	4h	1.7763	−0.012%	—	$2.4M	10x	as long as short
HTX RAY-USDT	+0.0100%	4h	1.7797	+0.179%	$13K	$91K	20x	as long as short
BloFin RAY-USDT	+0.0220%	8h	1.7768	+0.016%	$247K	$928K	20x	as long as short
Orderly PERP_RAY_USDC	+0.1637%	4h	1.7825	+0.337%	$320K	$400K	10x	as long as short