Funding you earn now, next payment 08:00 UTC−0.1147%/8h= −125.7% APRpaid last 24h −0.150%
Price spread now: MEXC against Orderly−0.470%7-day average −0.029% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.803%−$80 on $10k
+Price spread, last 4 days (all we have)+0.393%+$39 · spread now −0.470%, 7d avg −0.029%
=Both sides work against this trade now: funding costs −$34 a day on $10k at the current rate, and MEXC is 0.441% cheaper against Orderly than usual: you would sell low and buy high (−$44 if the spread goes back to its 7-day average of −0.029%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.803% in total (about -41.9% 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 | Orderly PERP_RAY_USDC | 1.7461 | 0.1923 | pay 0.0962% / 4h | 2h 23m | $313K | $391K | 10x |
| Short | MEXC RAY_USDT | 1.7379 | 0.0776 | get 0.0776% / 8h | 2h 23m | $11.7M | $2.6M | 100x |
Orderly PERP_RAY_USDC
MEXC RAY_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
MEXC 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
- −$240.97
- Price spread: −0.470% → −0.029%
- −$44.07
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee MEXC: 2 bp × 2 orders
- −$4
- Net
- −$295.04
- Costs to cover
- 0.100%
- Break-even
- never at this rate
Slippage unknown: Orderly: no order-book sample; MEXC: live order book, 5 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 MEXC live order book, 5 min ago | 2.88 bp | 7.3 bp −$7 | 45.1 bp −$451 | 115.0 bp −$11.5K | 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 | −0.1583% | 1h | 1.7461 | 0.000% | $86K | $398K | 10x | as long as short |
| gTrade (Gains Network) RAY/USD | L +0.0001% / S +0.0056% | 1h | 1.7396 | −0.373% | $430 | — | 150x | as long as short |
| Injective RAY/USDC PERP | +0.0033% | 1h | 1.6428 | −5.916% | $266 | $25 | 5.5x | as long as short |
| OKX RAY-USDT-SWAP | +0.0100% | 8h | 1.7353 | −0.619% | $4.2M | $12.9M | 20x | as long as short |
| Gate RAY_USDT | +0.0100% | 4h | 1.7402 | −0.338% | $543K | $1.2M | 25x | as long as short |
| KuCoin RAYUSDTM | +0.0100% | 4h | 1.7401 | −0.344% | $1.9M | $830K | 50x | as long as short |
| Bitget RAYUSDT | +0.0100% | 4h | 1.7382 | −0.452% | $2.6M | $4.1M | 25x | as long as short |
| Variational Omni RAY | +0.0100% | 4h | 1.7335 | −0.721% | $668K | $870K | — | as long as short |
| Bullet RAY-USD | +0.0100% | 1h | 1.7411 | −0.284% | $65K | $66K | 10x | as long as short |
| SunX RAY-USDT | +0.0100% | 4h | 1.7393 | −0.389% | — | $2.4M | 10x | as long as short |
Kraken Futures PF_RAYUSD
gTrade (Gains Network) RAY/USD
Injective RAY/USDC PERP
OKX RAY-USDT-SWAP
Gate RAY_USDT
KuCoin RAYUSDTM
Bitget RAYUSDT
Variational Omni RAY
Bullet RAY-USD
SunX RAY-USDTShow all 16 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX RAY-USDT | +0.0100% | 4h | 1.7408 | −0.304% | $13K | $91K | 20x | as long as short |
| BloFin RAY-USDT | +0.0220% | 8h | 1.7364 | −0.556% | $242K | $925K | 20x | as long as short |
| Lighter RAY | +0.0504% | 1h | 1.7407 | −0.309% | $244K | $310K | 5x | as long as short |
| BingX RAY-USDT | +0.0694% | 4h | 1.7386 | −0.430% | — | $2.0M | — | as long as short |
| MEXC RAY_USDTshort | +0.0776% | 8h | 1.7379 | −0.470% | $11.7M | $2.6M | 100x | |
| Orderly PERP_RAY_USDClong | +0.1923% | 4h | 1.7461 | long leg | $313K | $391K | 10x |
HTX RAY-USDT
BloFin RAY-USDT
Lighter RAY
BingX RAY-USDT