Funding you earn now, next payment 00:00 UTC−0.0366%/8h= −40.1% APRnext payment −$1.83 per $10,000 · paid last 24h 0.000%
Price spread now: HTX against Orderly+0.800%7-day average −0.055% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.039%+$4 on $10k
+Price spread, last 3 days (all we have)−0.807%−$81 · spread now +0.800%, 7d avg −0.055%
=The price spread pays, funding is against you. HTX is 0.854% dearer against Orderly than usual: you sell high and buy low (spread +0.800% now, against its 7-day average of −0.055%): +$85 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 7.8 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.039% in total (about 2.1% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.83 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 | Orderly PERP_RAY_USDC | 1.8510 | 0.0466 | pay 0.0233% / 4h | 1h 33m | $256K | $249K | 10x |
| Short | HTX RAY-USDT | 1.8658 | 0.0100 | get 0.0050% / 4h | 1h 33m | $15K | $137K | 20x |
Orderly PERP_RAY_USDC
HTX RAY-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
HTX against Orderly. 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
- −$76.85
- Price spread: +0.800% → −0.055%
- $85.41
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee HTX: 6 bp × 2 orders
- −$12
- Net
- −$9.44
- Costs to cover
- 0.180%
- Break-even
- from the start
Slippage unknown: Orderly: no order-book sample; HTX: live order book, 48 min ago. 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 Orderly no order-book sample | — | — | — | — | — |
| Sell HTX live order book, 48 min ago | 41.56 bp | doesn't fit | doesn't fit | doesn't fit | doesn't fit |
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 | −0.2281% | 1h | 1.8504 | −0.033% | $99K | $448K | 10x | as long as short |
| gTrade (Gains Network) RAY/USD | L +0.0001% / S +0.0056% | 1h | 1.8496 | −0.073% | $2K | — | 150x | as long as short |
| Injective RAY/USDC PERP | +0.0033% | 1h | 1.6428 | −11.248% | $266 | $25 | 5.5x | as long as short |
| MEXC RAY_USDT | +0.0050% | 8h | 1.8501 | −0.049% | $13.6M | $2.5M | 100x | as long as short |
| Lighter RAY | +0.0096% | 1h | 1.8525 | +0.081% | $300K | $250K | 5x | as long as short |
| OKX RAY-USDT-SWAP | +0.0100% | 8h | 1.8479 | −0.167% | $4.6M | $13.3M | 20x | as long as short |
| Gate RAY_USDT | +0.0100% | 4h | 1.8506 | −0.022% | $590K | $1.1M | 25x | as long as short |
| KuCoin RAYUSDTM | +0.0100% | 4h | 1.8506 | −0.022% | $2.0M | $768K | 50x | as long as short |
| Bitget RAYUSDT | +0.0100% | 4h | 1.8500 | −0.054% | $2.7M | $3.4M | 25x | as long as short |
| BingX RAY-USDT | +0.0100% | 4h | 1.8500 | −0.054% | — | $2.0M | — | as long as short |
Kraken Futures PF_RAYUSD
gTrade (Gains Network) RAY/USD
Injective RAY/USDC PERP
MEXC RAY_USDT
Lighter RAY
OKX RAY-USDT-SWAP
Gate RAY_USDT
KuCoin RAYUSDTM
Bitget RAYUSDT
BingX RAY-USDTShow all 16 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni RAY | +0.0100% | 4h | 1.8592 | +0.445% | $734K | $1.0M | — | as long as short |
| Bullet RAY-USD | +0.0100% | 1h | 1.8493 | −0.092% | $109K | $47K | 10x | as long as short |
| SunX RAY-USDT | +0.0100% | 4h | 1.8512 | +0.011% | — | $2.6M | 10x | as long as short |
| HTX RAY-USDTshort | +0.0100% | 4h | 1.8658 | +0.800% | $15K | $137K | 20x | |
| BloFin RAY-USDT | +0.0220% | 8h | 1.8481 | −0.157% | $254K | $870K | 20x | as long as short |
| Orderly PERP_RAY_USDClong | +0.0466% | 4h | 1.8510 | long leg | $256K | $249K | 10x |
Variational Omni RAY
Bullet RAY-USD
SunX RAY-USDT
BloFin RAY-USDT