Funding you earn now, next payment 06:00 UTC+0.1628%/8h= +178.3% APRpaid last 24h +0.119%
Price spread now: MEXC against Kraken Futures−0.325%7-day average −0.101% · you buy dearer than you sell
Net, funding: paid 7d − costs−$277as in the Funding arb table
Net, price: spread back to 7d avg − costs−$233as in the Price arb table
costs, in and out, $10k−$2102.104% of the position
Funding, last 7 days−0.666%−$67 on $10k
+Price spread, last 4 days (all we have)+0.104%+$10 · spread now −0.325%, 7d avg −0.101%
=Funding pays, the price is against you. MEXC is 0.225% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.325% now, against its 7-day average of −0.101%). If the spread goes back, that is −$22 on $10k: about 11 hours of funding at the current rate (+$49 a day). Mind the row above: over the last 7 days funding on this pair cost −0.666%, so the current rate has only just turned in your favour.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.666% in total (about -34.7% 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 | 1.7517 | −0.1578 | get 0.0197% / 1h | 36m 14s | $86K | $397K | 10x |
| Short | MEXC RAY_USDT | 1.7460 | 0.0050 | get 0.0050% / 8h | 2h 36m | $11.8M | $2.5M | 100x |
Kraken Futures PF_RAYUSD
MEXC RAY_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
MEXC 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
- $341.97
- Price spread: −0.325% → −0.101%
- −$22.46
- Slippage, 4 orders
- −$196.45
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee MEXC: 2 bp × 2 orders
- −$4
- Net
- $109.06
- Costs to cover
- 2.104%
- Break-even
- 4.8 days
Slippage from Kraken Futures: live order book, 12 min ago; MEXC: live order book, 2 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, 12 min ago | 79.50 bp | 85.0 bp −$85 | doesn't fit | doesn't fit | doesn't fit |
| Sell MEXC live order book, 2 min ago | 7.17 bp | 11.8 bp −$12 | 50.9 bp −$509 | 122.9 bp −$12.3K | 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 | −0.1578% | 1h | 1.7517 | long leg | $86K | $397K | 10x | |
| gTrade (Gains Network) RAY/USD | L +0.0001% / S +0.0056% | 1h | 1.7427 | −0.513% | $431 | — | 150x | as long as short |
| Injective RAY/USDC PERP | +0.0033% | 1h | 1.6428 | −6.217% | $266 | $25 | 5.5x | as long as short |
| MEXC RAY_USDTshort | +0.0050% | 8h | 1.7460 | −0.325% | $11.8M | $2.5M | 100x | |
| OKX RAY-USDT-SWAP | +0.0100% | 8h | 1.7450 | −0.383% | $4.2M | $12.9M | 20x | as long as short |
| Gate RAY_USDT | +0.0100% | 4h | 1.7443 | −0.423% | $545K | $1.2M | 25x | as long as short |
| KuCoin RAYUSDTM | +0.0100% | 4h | 1.7438 | −0.451% | $1.9M | $831K | 50x | as long as short |
| Bitget RAYUSDT | +0.0100% | 4h | 1.7459 | −0.331% | $2.6M | $4.0M | 25x | as long as short |
| BingX RAY-USDT | +0.0100% | 4h | 1.7464 | −0.303% | — | $2.0M | — | as long as short |
| Variational Omni RAY | +0.0100% | 4h | 1.7383 | −0.767% | $670K | $870K | — | as long as short |
gTrade (Gains Network) RAY/USD
Injective RAY/USDC PERP
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 | 1.7436 | −0.460% | $65K | $66K | 10x | as long as short |
| SunX RAY-USDT | +0.0100% | 4h | 1.7448 | −0.394% | — | $2.4M | 10x | as long as short |
| HTX RAY-USDT | +0.0100% | 4h | 1.7439 | −0.445% | $13K | $91K | 20x | as long as short |
| BloFin RAY-USDT | +0.0220% | 8h | 1.7397 | −0.685% | $245K | $926K | 20x | as long as short |
| Lighter RAY | +0.0464% | 1h | 1.7465 | −0.297% | $246K | $309K | 5x | as long as short |
| Orderly PERP_RAY_USDC | +0.1856% | 4h | 1.7483 | −0.194% | $313K | $391K | 10x | as long as short |
Bullet RAY-USD
SunX RAY-USDT
HTX RAY-USDT
BloFin RAY-USDT
Lighter RAY
Orderly PERP_RAY_USDC