Funding you earn now, next payment 01:00 UTC−0.1919%/8h= −210.1% APRpaid last 24h −0.152%
Price spread now: Kraken Futures against SunX−0.118%7-day average +0.126% · you buy dearer than you sell
Net, funding: paid 7d − costs−$389as in the Funding arb table
Net, price: spread back to 7d avg − costs−$410as in the Price arb table
costs, in and out, $10k−$3863.856% of the position
Funding, last 7 days−0.036%−$4 on $10k
+Price spread, last 3 days (all we have)+0.407%+$41 · spread now −0.118%, 7d avg +0.126%
=Both sides work against this trade now: funding costs −$58 a day on $10k at the current rate, and Kraken Futures is 0.244% cheaper against SunX than usual: you would sell low and buy high (−$24 if the spread goes back to its 7-day average of +0.126%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.036% in total (about -1.9% 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 | SunX RAY-USDT | 1.7991 | 0.0100 | pay 0.0050% / 4h | 3h 40m | — | $2.6M | 10x |
| Short | Kraken Futures PF_RAYUSD | 1.7970 | −0.1819 | pay 0.0227% / 1h | 40m 44s | $95K | $434K | 10x |
SunX RAY-USDT
Kraken Futures PF_RAYUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against SunX. 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
- −$402.99
- Price spread: −0.118% → +0.126%
- −$24.36
- Slippage, 4 orders
- −$367.62
- Fee SunX: 4 bp × 2 orders
- −$8
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$812.97
- Costs to cover
- 3.856%
- Break-even
- never at this rate
Slippage from SunX: live order book, 6 min ago; Kraken Futures: live order book, 32 min ago.
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 SunX live order book, 6 min ago | 45.84 bp | 64.0 bp −$64 | doesn't fit | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 32 min ago | 67.29 bp | 139.5 bp −$140 | doesn't fit | doesn't fit | doesn't fit |
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_RAYUSDshort | −0.1819% | 1h | 1.7970 | −0.118% | $95K | $434K | 10x | |
| gTrade (Gains Network) RAY/USD | L +0.0001% / S +0.0056% | 1h | 1.8010 | +0.104% | $2K | — | 150x | as long as short |
| Injective RAY/USDC PERP | +0.0033% | 1h | 1.6428 | −8.688% | $266 | $25 | 5.5x | as long as short |
| MEXC RAY_USDT | +0.0050% | 8h | 1.8035 | +0.245% | $12.8M | $2.5M | 100x | as long as short |
| OKX RAY-USDT-SWAP | +0.0100% | 8h | 1.8039 | +0.267% | $4.5M | $13.1M | 20x | as long as short |
| Gate RAY_USDT | +0.0100% | 4h | 1.8007 | +0.089% | $561K | $1.1M | 25x | as long as short |
| KuCoin RAYUSDTM | +0.0100% | 4h | 1.8011 | +0.111% | $2.0M | $763K | 50x | as long as short |
| Bitget RAYUSDT | +0.0100% | 4h | 1.8045 | +0.300% | $2.6M | $3.6M | 25x | as long as short |
| BingX RAY-USDT | +0.0100% | 4h | 1.8035 | +0.245% | — | $2.1M | — | as long as short |
| Variational Omni RAY | +0.0100% | 4h | 1.7990 | −0.007% | $705K | $1.0M | — | as long as short |
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 | 1.8015 | +0.133% | $106K | $44K | 10x | as long as short |
| SunX RAY-USDTlong | +0.0100% | 4h | 1.7991 | long leg | — | $2.6M | 10x | |
| HTX RAY-USDT | +0.0100% | 4h | 1.7982 | −0.050% | $15K | $112K | 20x | as long as short |
| Lighter RAY | +0.0120% | 1h | 1.8038 | +0.261% | $274K | $278K | 5x | as long as short |
| BloFin RAY-USDT | +0.0220% | 8h | 1.7986 | −0.028% | $255K | $859K | 20x | as long as short |
| Orderly PERP_RAY_USDC | +0.0553% | 4h | 1.8034 | +0.239% | $250K | $242K | 10x | as long as short |
Bullet RAY-USD
HTX RAY-USDT
Lighter RAY
BloFin RAY-USDT
Orderly PERP_RAY_USDC