Funding you earn now, next payment 00:00 UTC+0.0340%/8h= +37.2% APRnext payment +$1.70 per $10,000 · paid last 24h 0.000%
Price spread now: Orderly against SunX−0.038%7-day average +0.032% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.039%−$4 on $10k
+Price spread, last 3 days (all we have)+0.263%+$26 · spread now −0.038%, 7d avg +0.032%
=Funding pays, the price is against you. Orderly is 0.070% cheaper against SunX than usual: you would sell low and buy high (spread −0.038% now, against its 7-day average of +0.032%). If the spread goes back, that is −$7 on $10k: about 17 hours of funding at the current rate (+$10 a day).
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.039% in total (about -2.1% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.70 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 | SunX RAY-USDT | 1.8257 | 0.0100 | pay 0.0050% / 4h | 1h 54m | — | $2.6M | 10x |
| Short | Orderly PERP_RAY_USDC | 1.8250 | 0.0440 | get 0.0220% / 4h | 1h 54m | $253K | $250K | 10x |
SunX RAY-USDT
Orderly PERP_RAY_USDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Orderly 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
- $71.32
- Price spread: −0.038% → +0.032%
- −$7.03
- Slippage, 4 orders
- no order book: not counted
- Fee SunX: 4 bp × 2 orders
- −$8
- Fee Orderly: 3 bp × 2 orders
- −$6
- Net
- $50.29
- Costs to cover
- 0.140%
- Break-even
- 2.1 days
Slippage unknown: SunX: live order book, 2 min ago; Orderly: no order-book sample. 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 SunX live order book, 2 min ago | 45.91 bp | 64.2 bp −$64 | doesn't fit | doesn't fit | doesn't fit |
| Sell Orderly no order-book sample | — | — | — | — | — |
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 | −0.2321% | 1h | 1.8184 | −0.398% | $98K | $453K | 10x | as long as short |
| gTrade (Gains Network) RAY/USD | L +0.0001% / S +0.0056% | 1h | 1.8235 | −0.123% | $1K | — | 150x | as long as short |
| MEXC RAY_USDT | +0.0001% | 8h | 1.8239 | −0.099% | $13.4M | $2.5M | 100x | as long as short |
| Injective RAY/USDC PERP | +0.0033% | 1h | 1.6428 | −10.018% | $266 | $25 | 5.5x | as long as short |
| OKX RAY-USDT-SWAP | +0.0100% | 8h | 1.8201 | −0.307% | $4.6M | $13.2M | 20x | as long as short |
| Gate RAY_USDT | +0.0100% | 4h | 1.8253 | −0.022% | $577K | $1.1M | 25x | as long as short |
| KuCoin RAYUSDTM | +0.0100% | 4h | 1.8264 | +0.038% | $2.0M | $777K | 50x | as long as short |
| Bitget RAYUSDT | +0.0100% | 4h | 1.8247 | −0.055% | $2.6M | $3.4M | 25x | as long as short |
| BingX RAY-USDT | +0.0100% | 4h | 1.8263 | +0.033% | — | $2.0M | — | as long as short |
| Variational Omni RAY | +0.0100% | 4h | 1.8277 | +0.109% | $715K | $1.1M | — | as long as short |
Kraken Futures PF_RAYUSD
gTrade (Gains Network) RAY/USD
MEXC RAY_USDT
Injective RAY/USDC PERP
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 | 1.8232 | −0.137% | $107K | $47K | 10x | as long as short |
| SunX RAY-USDTlong | +0.0100% | 4h | 1.8257 | long leg | — | $2.6M | 10x | |
| HTX RAY-USDT | +0.0100% | 4h | 1.8279 | +0.121% | $15K | $141K | 20x | as long as short |
| Lighter RAY | +0.0160% | 1h | 1.8252 | −0.027% | $298K | $248K | 5x | as long as short |
| BloFin RAY-USDT | +0.0220% | 8h | 1.8274 | +0.093% | $255K | $862K | 20x | as long as short |
| Orderly PERP_RAY_USDCshort | +0.0440% | 4h | 1.8250 | −0.038% | $253K | $250K | 10x |
Bullet RAY-USD
HTX RAY-USDT
Lighter RAY
BloFin RAY-USDT