Funding you earn now, next payment 08:00 UTC−0.1277%/8h= −139.9% APRnext payment −$6.39 per $10,000 · paid last 24h −0.030%
Price spread now: KuCoin against Orderly−0.329%7-day average −0.044% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.052%−$5 on $10k
+Price spread, last 4 days (all we have)+0.355%+$35 · spread now −0.329%, 7d avg −0.044%
=Both sides work against this trade now: funding costs −$38 a day on $10k at the current rate, and KuCoin is 0.285% cheaper against Orderly than usual: you would sell low and buy high (−$28 if the spread goes back to its 7-day average of −0.044%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.052% in total (about -2.7% a year). A funding rate is set anew for every payment; at this rate the next one is about −$6.39 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 | 1.7937 | 0.1377 | pay 0.0689% / 4h | 3h 56m | $322K | $400K | 10x |
| Short | KuCoin RAYUSDTM | 1.7878 | 0.0100 | get 0.0050% / 4h | 3h 56m | $1.9M | $784K | 50x |
Orderly PERP_RAY_USDC
KuCoin RAYUSDTMFunding history
latest
Range statsloading…
Price spread between the two exchanges
KuCoin 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
- −$268.25
- Price spread: −0.329% → −0.044%
- −$28.49
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Net
- −$314.75
- Costs to cover
- 0.180%
- Break-even
- never at this rate
Slippage unknown: Orderly: no order-book sample; KuCoin: live order book, 10 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 KuCoin live order book, 10 min ago | 9.73 bp | 34.5 bp −$34 | 318.9 bp −$3,189 | 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 | −0.2683% | 1h | 1.7888 | −0.273% | $90K | $402K | 10x | as long as short |
| gTrade (Gains Network) RAY/USD | L +0.0001% / S +0.0056% | 1h | 1.7898 | −0.218% | $1K | — | 150x | as long as short |
| Injective RAY/USDC PERP | +0.0033% | 1h | 1.6428 | −8.413% | $266 | $25 | 5.5x | as long as short |
| MEXC RAY_USDT | +0.0050% | 8h | 1.7880 | −0.318% | $12.5M | $2.4M | 100x | as long as short |
| OKX RAY-USDT-SWAP | +0.0100% | 8h | 1.7888 | −0.273% | $4.4M | $12.8M | 20x | as long as short |
| Gate RAY_USDT | +0.0100% | 4h | 1.7885 | −0.290% | $576K | $1.1M | 25x | as long as short |
| KuCoin RAYUSDTMshort | +0.0100% | 4h | 1.7878 | −0.329% | $1.9M | $784K | 50x | |
| Bitget RAYUSDT | +0.0100% | 4h | 1.7910 | −0.151% | $2.6M | $3.8M | 25x | as long as short |
| BingX RAY-USDT | +0.0100% | 4h | 1.7880 | −0.318% | — | $2.0M | — | as long as short |
| Variational Omni RAY | +0.0100% | 4h | 1.8066 | +0.721% | $700K | $868K | — | 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
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 | 1.7894 | −0.242% | $67K | $66K | 10x | as long as short |
| SunX RAY-USDT | +0.0100% | 4h | 1.7884 | −0.295% | — | $2.4M | 10x | as long as short |
| HTX RAY-USDT | +0.0100% | 4h | 1.7937 | 0.000% | $13K | $91K | 20x | as long as short |
| Lighter RAY | +0.0160% | 1h | 1.7929 | −0.045% | $258K | $299K | 5x | as long as short |
| BloFin RAY-USDT | +0.0220% | 8h | 1.7906 | −0.173% | $251K | $915K | 20x | as long as short |
| Orderly PERP_RAY_USDClong | +0.1377% | 4h | 1.7937 | long leg | $322K | $400K | 10x |
Bullet RAY-USD
SunX RAY-USDT
HTX RAY-USDT
Lighter RAY
BloFin RAY-USDT