Funding you earn now, next payment 23:00 UTC+0.0294%/8h= +32.2% APRpaid last 24h −0.108%
Price spread now: Orderly against Lighter−0.279%7-day average −0.144% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.523%−$52 on $10k
+Price spread, last 3 days (all we have)−0.173%−$17 · spread now −0.279%, 7d avg −0.144%
=Together, before fees−0.696%+ Points / potential airdropLighter: Season 3 · farm board−$70 on $10k · with fees, hour by hour
Funding pays, the price is against you. Orderly is 0.136% cheaper against Lighter than usual: you would sell low and buy high (spread −0.279% now, against its 7-day average of −0.144%). If the spread goes back, that is −$14 on $10k: about 37 hours of funding at the current rate (+$9 a day). Mind the row above: over the last 7 days funding on this pair cost −0.523%, so the current rate has only just turned in your favour.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter RAY | 1.8248 | 0.0144 | pay 0.0018% / 1h | 53m 24s | $298K | $248K | 5x |
| Short | Orderly PERP_RAY_USDC | 1.8197 | 0.0438 | get 0.0219% / 4h | 1h 53m | $252K | $250K | 10x |
Lighter RAY
Orderly PERP_RAY_USDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Orderly against Lighter. 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
- $61.84
- Price spread: −0.279% → −0.144%
- −$13.57
- Slippage, 4 orders
- no order book: not counted
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Orderly: 3 bp × 2 orders
- −$6
- Net
- $42.26
- Costs to cover
- 0.060%
- Break-even
- 2.2 days
Slippage unknown: Lighter: live order book, 21 min ago; Orderly: 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 Lighter live order book, 21 min ago | 6.30 bp | 16.5 bp −$16 | 112.3 bp −$1,123 | doesn't fit | doesn't fit |
| Sell Orderly no order-book sample | — | — | — | — | — |
Orderly: 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_RAYUSD | −0.2320% | 1h | 1.8191 | −0.313% | $98K | $453K | 10x | as long as short |
| gTrade (Gains Network) RAY/USD | L +0.0001% / S +0.0056% | 1h | 1.8187 | −0.333% | $1K | — | 150x | as long as short |
| Injective RAY/USDC PERP | +0.0033% | 1h | 1.6428 | −9.974% | $266 | $25 | 5.5x | as long as short |
| MEXC RAY_USDT | +0.0050% | 8h | 1.8195 | −0.290% | $13.3M | $2.5M | 100x | as long as short |
| OKX RAY-USDT-SWAP | +0.0100% | 8h | 1.8170 | −0.427% | $4.6M | $13.1M | 20x | as long as short |
| Gate RAY_USDT | +0.0100% | 4h | 1.8236 | −0.066% | $576K | $1.1M | 25x | as long as short |
| KuCoin RAYUSDTM | +0.0100% | 4h | 1.8217 | −0.170% | $2.0M | $776K | 50x | as long as short |
| Bitget RAYUSDT | +0.0100% | 4h | 1.8200 | −0.263% | $2.6M | $3.4M | 25x | as long as short |
| BingX RAY-USDT | +0.0100% | 4h | 1.8218 | −0.164% | — | $2.0M | — | as long as short |
| Variational Omni RAY | +0.0100% | 4h | 1.8277 | +0.159% | $715K | $1.1M | — | as long as short |
Kraken Futures PF_RAYUSD
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 | 1.8186 | −0.338% | $107K | $47K | 10x | as long as short |
| SunX RAY-USDT | +0.0100% | 4h | 1.8210 | −0.208% | — | $2.6M | 10x | as long as short |
| HTX RAY-USDT | +0.0100% | 4h | 1.8186 | −0.340% | $15K | $141K | 20x | as long as short |
| Lighter RAYlong | +0.0144% | 1h | 1.8248 | long leg | $298K | $248K | 5x | |
| BloFin RAY-USDT | +0.0220% | 8h | 1.8176 | −0.395% | $254K | $857K | 20x | as long as short |
| Orderly PERP_RAY_USDCshort | +0.0438% | 4h | 1.8197 | −0.279% | $252K | $250K | 10x |
Bullet RAY-USD
SunX RAY-USDT
HTX RAY-USDT
BloFin RAY-USDT