Funding you earn now, next payment 00:00 UTC+0.0507%/8h= +55.5% APRpaid last 24h +0.034%
Price spread now: Orderly against OKX+0.144%7-day average +0.067% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.055%+$5 on $10k
+Price spread, last 3 days (all we have)−0.155%−$16 · spread now +0.144%, 7d avg +0.067%
=Both sides work for this trade now. Funding pays +$15 a day on $10k at the current rate, and Orderly is 0.077% dearer against OKX than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.067%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.055% in total (about 2.9% 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 | OKX RAY-USDT-SWAP | 1.8102 | 0.0100 | pay 0.0100% / 8h | 27m 21s | $4.6M | $13.1M | 20x |
| Short | Orderly PERP_RAY_USDC | 1.8128 | 0.0607 | get 0.0303% / 4h | 27m 21s | $251K | $247K | 10x |
OKX RAY-USDT-SWAP
Orderly PERP_RAY_USDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Orderly against OKX. 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
- $106.37
- Price spread: +0.144% → +0.067%
- $7.68
- Slippage, 4 orders
- no order book: not counted
- Fee OKX: 5 bp × 2 orders
- −$10
- Fee Orderly: 3 bp × 2 orders
- −$6
- Net
- $98.05
- Costs to cover
- 0.160%
- Break-even
- 0.5 days
Slippage unknown: OKX: live order book, 1 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 OKX live order book, 1 min ago | 2.76 bp | 26.9 bp −$27 | 189.8 bp −$1,898 | 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 | −0.2427% | 1h | 1.8080 | −0.120% | $95K | $437K | 10x | as long as short |
| gTrade (Gains Network) RAY/USD | L +0.0001% / S +0.0056% | 1h | 1.8107 | +0.026% | $2K | — | 150x | as long as short |
| Injective RAY/USDC PERP | +0.0033% | 1h | 1.6428 | −9.248% | $266 | $25 | 5.5x | as long as short |
| MEXC RAY_USDT | +0.0050% | 8h | 1.8109 | +0.039% | $13.0M | $2.5M | 100x | as long as short |
| OKX RAY-USDT-SWAPlong | +0.0100% | 8h | 1.8102 | long leg | $4.6M | $13.1M | 20x | |
| Gate RAY_USDT | +0.0100% | 4h | 1.8100 | −0.011% | $563K | $1.1M | 25x | as long as short |
| KuCoin RAYUSDTM | +0.0100% | 4h | 1.8114 | +0.066% | $2.0M | $751K | 50x | as long as short |
| Bitget RAYUSDT | +0.0100% | 4h | 1.8108 | +0.033% | $2.6M | $3.6M | 25x | as long as short |
| Variational Omni RAY | +0.0100% | 4h | 1.8096 | −0.034% | $710K | $1.0M | — | as long as short |
| Bullet RAY-USD | +0.0100% | 1h | 1.8104 | +0.011% | $106K | $44K | 10x | as long as short |
Kraken Futures PF_RAYUSD
gTrade (Gains Network) RAY/USD
Injective RAY/USDC PERP
MEXC RAY_USDT
Gate RAY_USDT
KuCoin RAYUSDTM
Bitget RAYUSDT
Variational Omni RAY
Bullet RAY-USDShow all 16 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX RAY-USDT | +0.0100% | 4h | 1.8104 | +0.011% | — | $2.6M | 10x | as long as short |
| HTX RAY-USDT | +0.0100% | 4h | 1.8110 | +0.044% | $15K | $121K | 20x | as long as short |
| BloFin RAY-USDT | +0.0220% | 8h | 1.8109 | +0.039% | $259K | $854K | 20x | as long as short |
| BingX RAY-USDT | +0.0298% | 4h | 1.8111 | +0.050% | — | $2.0M | — | as long as short |
| Lighter RAY | +0.0432% | 1h | 1.8129 | +0.149% | $287K | $255K | 5x | as long as short |
| Orderly PERP_RAY_USDCshort | +0.0607% | 4h | 1.8128 | +0.144% | $251K | $247K | 10x |
SunX RAY-USDT
HTX RAY-USDT
BloFin RAY-USDT
BingX RAY-USDT
Lighter RAY