RAY

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0508%/8h= −55.6% APRnext payment −$2.54 per $10,000 · paid last 24h −0.188%

Price spread now: Variational Omni against Orderly+0.476%7-day average −0.072% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Orderly Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.236%−$24 on $10k

Price spread, last 3 days (all we have)−0.555%−$56 · spread now +0.476%, 7d avg −0.072%

Together, before fees−0.791%+ Points / potential airdropVariational Omni: Active · farm board−$79 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Variational Omni is 0.547% dearer against Orderly than usual: you sell high and buy low (spread +0.476% now, against its 7-day average of −0.072%): +$55 on $10k if it goes back. Holding the pair costs −$15 a day in funding at the current rate, which eats that in about 3.6 days. At the pace of the last 3 days (−0.236% in total) that is about 7.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_RAY_USDC	1.7844	0.0608	pay 0.0304% / 4h	2h 09m	$217K	$285K	10x
Short	Variational Omni RAY	1.7929	0.0100	get 0.0050% / 4h	2h 09m	$702K	$985K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Orderly. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee OrderlybpFee Variational OmnibpOrdersPrice spread, now +0.476%Rate

Funding earned: −$106.66
Price spread: +0.476% → −0.072%: $54.73
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$57.93
Costs to cover: 0.060%
Break-even: from the start

Slippage unknown: Orderly: no order-book sample; Variational Omni: RFQ quote, 14 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 Variational Omni RFQ quote, 14 min ago	6.36 bp	doesn't fit	56.3 bp −$563	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 15 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
gTrade (Gains Network) RAY/USD	L +0.0001% / S +0.0056%	1h	1.7833	−0.063%	$1K	—	150x	as long as short
Kraken Futures PF_RAYUSD	+0.0010%	1h	1.7802	−0.237%	$89K	$451K	10x	as long as short
Injective RAY/USDC PERP	+0.0033%	1h	1.6428	−7.935%	$266	$25	5.5x	as long as short
OKX RAY-USDT-SWAP	+0.0100%	8h	1.7834	−0.056%	$4.5M	$13.0M	20x	as long as short
Gate RAY_USDT	+0.0100%	4h	1.7837	−0.039%	$559K	$1.1M	25x	as long as short
KuCoin RAYUSDTM	+0.0100%	4h	1.7845	+0.006%	$1.9M	$783K	50x	as long as short
Bitget RAYUSDT	+0.0100%	4h	1.7845	+0.006%	$2.6M	$3.7M	25x	as long as short
Variational Omni RAYshort	+0.0100%	4h	1.7929	+0.476%	$702K	$985K	—
Bullet RAY-USD	+0.0100%	1h	1.7843	−0.006%	$67K	$66K	10x	as long as short
SunX RAY-USDT	+0.0100%	4h	1.7854	+0.056%	—	$2.5M	10x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX RAY-USDT	+0.0100%	4h	1.7889	+0.252%	$13K	$100K	20x	as long as short
BingX RAY-USDT	+0.0146%	4h	1.7837	−0.039%	—	$2.0M	—	as long as short
MEXC RAY_USDT	+0.0220%	8h	1.7847	+0.017%	$12.6M	$2.5M	100x	as long as short
Lighter RAY	+0.0328%	1h	1.7873	+0.163%	$265K	$288K	5x	as long as short
Orderly PERP_RAY_USDClong	+0.0608%	4h	1.7844	long leg	$217K	$285K	10x