Funding you earn now, next payment 04:00 UTC+0.4180%/8h= +457.7% APRnext payment +$5.22 per $10,000 · paid last 24h +0.233%
Price spread now: Lighter against Kraken Futures+0.198%7-day average +0.055% · you sell dearer than you buy
Net, funding: paid 7d − costs−$190as in the Funding arb table
Net, price: spread back to 7d avg − costs−$228as in the Price arb table
costs, in and out, $10k−$2432.426% of the position
Funding, last 7 days+0.527%+$53 on $10k
+Price spread, last 4 days (all we have)−0.161%−$16 · spread now +0.198%, 7d avg +0.055%
=Together, before fees+0.366%+ Points / potential airdropLighter: Season 3 · farm board+$37 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$125 a day on $10k at the current rate, and Lighter is 0.143% dearer against Kraken Futures than usual: you sell high and buy low: +$14 more if the spread goes back to its 7-day average of +0.055%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.527% in total (about 27.5% a year). A funding rate is set anew for every payment; at this rate the next one is about +$5.22 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 | Kraken Futures PF_RAYUSD | 1.8042 | −0.3788 | get 0.0473% / 1h | 26m 00s | $91K | $435K | 10x |
| Short | Lighter RAY | 1.8078 | 0.0392 | get 0.0049% / 1h | 26m 00s | $262K | $309K | 5x |
Kraken Futures PF_RAYUSD
Lighter RAYFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter 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
- $877.79
- Price spread: +0.198% → +0.055%
- $14.34
- Slippage, 4 orders
- −$232.59
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- $649.55
- Costs to cover
- 2.426%
- Break-even
- 1.8 days
Slippage from Kraken Futures: live order book, 32 min ago; Lighter: live order book, 14 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, 32 min ago | 65.52 bp | 105.1 bp −$105 | doesn't fit | doesn't fit | doesn't fit |
| Sell Lighter live order book, 14 min ago | 6.37 bp | 17.3 bp −$17 | 118.5 bp −$1,185 | 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 | −0.3788% | 1h | 1.8042 | long leg | $91K | $435K | 10x | |
| gTrade (Gains Network) RAY/USD | L +0.0001% / S +0.0056% | 1h | 1.8042 | −0.003% | $1K | — | 150x | as long as short |
| Injective RAY/USDC PERP | +0.0033% | 1h | 1.6428 | −8.947% | $266 | $25 | 5.5x | as long as short |
| MEXC RAY_USDT | +0.0050% | 8h | 1.8076 | +0.187% | $12.5M | $2.4M | 100x | as long as short |
| OKX RAY-USDT-SWAP | +0.0100% | 8h | 1.8098 | +0.309% | $4.5M | $13.0M | 20x | as long as short |
| Gate RAY_USDT | +0.0100% | 4h | 1.8072 | +0.165% | $581K | $1.1M | 25x | as long as short |
| KuCoin RAYUSDTM | +0.0100% | 4h | 1.8050 | +0.043% | $1.9M | $785K | 50x | as long as short |
| Bitget RAYUSDT | +0.0100% | 4h | 1.8088 | +0.254% | $2.6M | $3.8M | 25x | as long as short |
| BingX RAY-USDT | +0.0100% | 4h | 1.8091 | +0.270% | — | $2.0M | — | as long as short |
| Variational Omni RAY | +0.0100% | 4h | 1.8065 | +0.127% | $699K | $876K | — | 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
Bitget RAYUSDT
BingX RAY-USDT
Variational Omni RAYShow all 16 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bullet RAY-USD | +0.0100% | 1h | 1.8059 | +0.093% | $68K | $66K | 10x | as long as short |
| SunX RAY-USDT | +0.0100% | 4h | 1.8047 | +0.027% | — | $2.4M | 10x | as long as short |
| HTX RAY-USDT | +0.0100% | 4h | 1.8048 | +0.032% | $13K | $90K | 20x | as long as short |
| BloFin RAY-USDT | +0.0220% | 8h | 1.8076 | +0.187% | $252K | $925K | 20x | as long as short |
| Lighter RAYshort | +0.0392% | 1h | 1.8078 | +0.198% | $262K | $309K | 5x | |
| Orderly PERP_RAY_USDC | +0.1107% | 4h | 1.8099 | +0.315% | $325K | $400K | 10x | as long as short |
Bullet RAY-USD
SunX RAY-USDT
HTX RAY-USDT
BloFin RAY-USDT
Orderly PERP_RAY_USDC