Funding you earn now, next payment 06:00 UTC+0.1676%/8h= +183.5% APRpaid last 24h +0.177%
Price spread now: KuCoin against Kraken Futures−0.293%7-day average −0.116% · you buy dearer than you sell
Net, funding: paid 7d − costs−$307as in the Funding arb table
Net, price: spread back to 7d avg − costs−$327as in the Price arb table
costs, in and out, $10k−$3093.095% of the position
Funding, last 7 days+0.024%+$2 on $10k
+Price spread, last 4 days (all we have)+0.128%+$13 · spread now −0.293%, 7d avg −0.116%
=Funding pays, the price is against you. KuCoin is 0.177% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.293% now, against its 7-day average of −0.116%). If the spread goes back, that is −$18 on $10k: about 8 hours of funding at the current rate (+$50 a day). At the pace of the last 7 days (+0.024% in total) that is about 52 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.024% in total (about 1.2% 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 | 1.7543 | −0.1576 | get 0.0197% / 1h | 35m 04s | $86K | $397K | 10x |
| Short | KuCoin RAYUSDTM | 1.7492 | 0.0100 | get 0.0050% / 4h | 2h 35m | $1.9M | $831K | 50x |
Kraken Futures PF_RAYUSD
KuCoin RAYUSDTMFunding history
latest
Range statsloading…
Price spread between the two exchanges
KuCoin 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
- $351.97
- Price spread: −0.293% → −0.116%
- −$17.71
- Slippage, 4 orders
- −$287.5
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Net
- $24.76
- Costs to cover
- 3.095%
- Break-even
- 6.5 days
Slippage from Kraken Futures: live order book, 13 min ago; KuCoin: live order book, 6 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, 13 min ago | 79.50 bp | 85.0 bp −$85 | doesn't fit | doesn't fit | doesn't fit |
| Sell KuCoin live order book, 6 min ago | 7.78 bp | 38.5 bp −$39 | 316.0 bp −$3,160 | 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 | −0.1576% | 1h | 1.7543 | long leg | $86K | $397K | 10x | |
| gTrade (Gains Network) RAY/USD | L +0.0001% / S +0.0056% | 1h | 1.7484 | −0.339% | $432 | — | 150x | as long as short |
| Injective RAY/USDC PERP | +0.0033% | 1h | 1.6428 | −6.358% | $266 | $25 | 5.5x | as long as short |
| OKX RAY-USDT-SWAP | +0.0100% | 8h | 1.7432 | −0.635% | $4.2M | $12.9M | 20x | as long as short |
| Gate RAY_USDT | +0.0100% | 4h | 1.7480 | −0.361% | $547K | $1.2M | 25x | as long as short |
| KuCoin RAYUSDTMshort | +0.0100% | 4h | 1.7492 | −0.293% | $1.9M | $831K | 50x | |
| Bitget RAYUSDT | +0.0100% | 4h | 1.7475 | −0.390% | $2.6M | $4.0M | 25x | as long as short |
| Variational Omni RAY | +0.0100% | 4h | 1.7444 | −0.568% | $671K | $870K | — | as long as short |
| Bullet RAY-USD | +0.0100% | 1h | 1.7502 | −0.234% | $66K | $66K | 10x | as long as short |
| SunX RAY-USDT | +0.0100% | 4h | 1.7506 | −0.213% | — | $2.4M | 10x | as long as short |
gTrade (Gains Network) RAY/USD
Injective RAY/USDC PERP
OKX RAY-USDT-SWAP
Gate RAY_USDT
Bitget RAYUSDT
Variational Omni RAY
Bullet RAY-USD
SunX RAY-USDTShow all 16 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX RAY-USDT | +0.0100% | 4h | 1.7439 | −0.595% | $13K | $91K | 20x | as long as short |
| BloFin RAY-USDT | +0.0220% | 8h | 1.7496 | −0.270% | $247K | $932K | 20x | as long as short |
| Lighter RAY | +0.0480% | 1h | 1.7519 | −0.139% | $247K | $309K | 5x | as long as short |
| MEXC RAY_USDT | +0.0697% | 8h | 1.7488 | −0.316% | $11.8M | $2.5M | 100x | as long as short |
| BingX RAY-USDT | +0.0728% | 4h | 1.7485 | −0.333% | — | $2.0M | — | as long as short |
| Orderly PERP_RAY_USDC | +0.1866% | 4h | 1.7539 | −0.025% | $314K | $391K | 10x | as long as short |
HTX RAY-USDT
BloFin RAY-USDT
Lighter RAY
MEXC RAY_USDT
BingX RAY-USDT
Orderly PERP_RAY_USDC