Funding you earn now, next payment 11:00 UTC−0.0852%/8h= −93.3% APRpaid last 24h +0.124%
Price spread now: SunX against Kraken Futures+0.303%7-day average −0.116% · you sell dearer than you buy
Net, funding: paid 7d − costs−$293as in the Funding arb table
Net, price: spread back to 7d avg − costs−$253as in the Price arb table
costs, in and out, $10k−$2952.948% of the position
Funding, last 7 days+0.020%+$2 on $10k
+Price spread, last 4 days (all we have)−0.716%−$72 · spread now +0.303%, 7d avg −0.116%
=The price spread pays, funding is against you. SunX is 0.419% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.303% now, against its 7-day average of −0.116%): +$42 on $10k if it goes back. Holding the pair costs −$26 a day in funding at the current rate, which eats that in about 39 hours.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.020% 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 are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_RAYUSD | 1.7395 | 0.0952 | pay 0.0119% / 1h | 30m 38s | $95K | $420K | 10x |
| Short | SunX RAY-USDT | 1.7448 | 0.0100 | get 0.0050% / 4h | 1h 30m | — | $1.7M | 10x |
Kraken Futures PF_RAYUSD
SunX RAY-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
SunX 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
- −$178.96
- Price spread: +0.303% → −0.116%
- $41.91
- Slippage, 4 orders
- −$276.8
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee SunX: 4 bp × 2 orders
- −$8
- Net
- −$431.85
- Costs to cover
- 2.948%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 15 min ago; SunX: live order book, 8 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, 15 min ago | 32.71 bp | 126.1 bp −$126 | doesn't fit | doesn't fit | doesn't fit |
| Sell SunX live order book, 8 min ago | 46.41 bp | 65.3 bp −$65 | doesn't fit | doesn't fit | doesn't fit |
RAY on 16 exchanges
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 | |
|---|---|---|---|---|---|---|---|---|
| gTrade (Gains Network) RAY/USD | L +0.0001% / S +0.0056% | 1h | 1.7445 | +0.284% | $1K | — | 150x | as long as short |
| Injective RAY/USDC PERP | +0.0033% | 1h | 1.6428 | −5.561% | $266 | $25 | 5.5x | as long as short |
| BloFin RAY-USDT | +0.0091% | 8h | 1.7435 | +0.228% | $242K | $820K | 20x | as long as short |
| Lighter RAY | +0.0096% | 1h | 1.7464 | +0.395% | $220K | $345K | 5x | as long as short |
| OKX RAY-USDT-SWAP | +0.0100% | 8h | 1.7447 | +0.297% | $4.1M | $11.6M | 20x | as long as short |
| Gate RAY_USDT | +0.0100% | 4h | 1.7437 | +0.240% | $556K | $869K | 25x | as long as short |
| KuCoin RAYUSDTM | +0.0100% | 4h | 1.7437 | +0.240% | $1.8M | $800K | 50x | as long as short |
| Bitget RAYUSDT | +0.0100% | 4h | 1.7440 | +0.257% | $2.5M | $3.5M | 25x | as long as short |
| BingX RAY-USDT | +0.0100% | 4h | 1.7437 | +0.240% | — | $1.9M | — | as long as short |
| Variational Omni RAY | +0.0100% | 4h | 1.7418 | +0.133% | $613K | $749K | — | as long as short |
gTrade (Gains Network) RAY/USD
Injective RAY/USDC PERP
BloFin RAY-USDT
Lighter RAY
OKX RAY-USDT-SWAP
Gate RAY_USDT
KuCoin RAYUSDTM
Bitget RAYUSDT
BingX RAY-USDT
Variational Omni RAYShow all 16 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bullet RAY-USD | +0.0100% | 1h | 1.7440 | +0.257% | $66K | $26K | 10x | as long as short |
| SunX RAY-USDTshort | +0.0100% | 4h | 1.7448 | +0.303% | — | $1.7M | 10x | |
| HTX RAY-USDT | +0.0100% | 4h | 1.7418 | +0.130% | $12K | $70K | 20x | as long as short |
| MEXC RAY_USDT | +0.0107% | 8h | 1.7450 | +0.314% | $11.0M | $2.5M | 100x | as long as short |
| Kraken Futures PF_RAYUSDlong | +0.0952% | 1h | 1.7395 | long leg | $95K | $420K | 10x | |
| Orderly PERP_RAY_USDC | +0.1830% | 4h | 1.7460 | +0.372% | $289K | $362K | 10x | as long as short |
Bullet RAY-USD
HTX RAY-USDT
MEXC RAY_USDT
Orderly PERP_RAY_USDC