Funding you earn now, next payment 23:00 UTC−0.0294%/8h= −32.2% APRpaid last 24h +0.108%
Price spread now: Lighter against Orderly+0.181%7-day average +0.144% · you sell dearer than you buy
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)+0.271%+$27 · spread now +0.181%, 7d avg +0.144%
=Together, before fees+0.794%+ Points / potential airdropLighter: Season 3 · farm board+$79 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Lighter is 0.038% dearer against Orderly than usual: you sell high and buy low (spread +0.181% now, against its 7-day average of +0.144%): +$4 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 10 hours. Mind the row above: over the last 7 days funding on this pair paid +0.523%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Orderly PERP_RAY_USDC | 1.8197 | 0.0438 | pay 0.0219% / 4h | 1h 53m | $252K | $250K | 10x |
| Short | Lighter RAY | 1.8230 | 0.0144 | get 0.0018% / 1h | 53m 06s | $297K | $248K | 5x |
Orderly PERP_RAY_USDC
Lighter RAYFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter 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
- −$61.84
- Price spread: +0.181% → +0.144%
- $3.76
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$64.08
- Costs to cover
- 0.060%
- Break-even
- never at this rate
Slippage unknown: Orderly: no order-book sample; Lighter: live order book, 21 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 Lighter live order book, 21 min ago | 6.30 bp | 13.7 bp −$14 | 110.9 bp −$1,109 | 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 | −0.2320% | 1h | 1.8191 | −0.034% | $98K | $453K | 10x | as long as short |
| gTrade (Gains Network) RAY/USD | L +0.0001% / S +0.0056% | 1h | 1.8187 | −0.054% | $1K | — | 150x | as long as short |
| Injective RAY/USDC PERP | +0.0033% | 1h | 1.6428 | −9.721% | $266 | $25 | 5.5x | as long as short |
| MEXC RAY_USDT | +0.0050% | 8h | 1.8193 | −0.022% | $13.3M | $2.5M | 100x | as long as short |
| OKX RAY-USDT-SWAP | +0.0100% | 8h | 1.8198 | +0.005% | $4.6M | $13.2M | 20x | as long as short |
| Gate RAY_USDT | +0.0100% | 4h | 1.8215 | +0.099% | $576K | $1.1M | 25x | as long as short |
| KuCoin RAYUSDTM | +0.0100% | 4h | 1.8211 | +0.077% | $2.0M | $776K | 50x | as long as short |
| Bitget RAYUSDT | +0.0100% | 4h | 1.8201 | +0.022% | $2.6M | $3.4M | 25x | as long as short |
| BingX RAY-USDT | +0.0100% | 4h | 1.8197 | 0.000% | — | $2.0M | — | as long as short |
| Variational Omni RAY | +0.0100% | 4h | 1.8277 | +0.439% | $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 | −0.059% | $107K | $47K | 10x | as long as short |
| SunX RAY-USDT | +0.0100% | 4h | 1.8210 | +0.071% | — | $2.6M | 10x | as long as short |
| HTX RAY-USDT | +0.0100% | 4h | 1.8186 | −0.060% | $15K | $141K | 20x | as long as short |
| Lighter RAYshort | +0.0144% | 1h | 1.8230 | +0.181% | $297K | $248K | 5x | |
| BloFin RAY-USDT | +0.0220% | 8h | 1.8176 | −0.115% | $254K | $857K | 20x | as long as short |
| Orderly PERP_RAY_USDClong | +0.0438% | 4h | 1.8197 | long leg | $252K | $250K | 10x |
Bullet RAY-USD
SunX RAY-USDT
HTX RAY-USDT
BloFin RAY-USDT