Funding you earn now, next payment 04:00 UTC+0.0881%/8h= +96.4% APRnext payment +$4.40 per $10,000 · paid last 24h −0.010%
Price spread now: Orderly against BingX−0.287%7-day average +0.033% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.221%−$22 on $10k
+Price spread, last 4 days (all we have)+0.399%+$40 · spread now −0.287%, 7d avg +0.033%
=Funding pays, the price is against you. Orderly is 0.320% cheaper against BingX than usual: you would sell low and buy high (spread −0.287% now, against its 7-day average of +0.033%). If the spread goes back, that is −$32 on $10k: about 29 hours of funding at the current rate (+$26 a day). Mind the row above: over the last 7 days funding on this pair cost −0.221%, so the current rate has only just turned in your favour.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.221% in total (about -11.5% a year). A funding rate is set anew for every payment; at this rate the next one is about +$4.40 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 | BingX RAY-USDT | 1.8133 | 0.0102 | pay 0.0051% / 4h | 40m 44s | — | $2.0M | — |
| Short | Orderly PERP_RAY_USDC | 1.8081 | 0.0983 | get 0.0491% / 4h | 40m 44s | $324K | $400K | 10x |
BingX RAY-USDT
Orderly PERP_RAY_USDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Orderly against BingX. 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
- $184.96
- Price spread: −0.287% → +0.033%
- −$31.98
- Slippage, 4 orders
- no order book: not counted
- Fee BingX: 5 bp × 2 orders
- −$10
- Fee Orderly: 3 bp × 2 orders
- −$6
- Net
- $136.99
- Costs to cover
- 0.160%
- Break-even
- 1.8 days
Slippage unknown: BingX: live order book, 7 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 BingX live order book, 7 min ago | 0.28 bp | 15.9 bp −$16 | 51.8 bp −$518 | 393.6 bp −$39.4K | 704.9 bp −$352.5K |
| 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 | −0.3797% | 1h | 1.8000 | −0.735% | $90K | $443K | 10x | as long as short |
| gTrade (Gains Network) RAY/USD | L +0.0001% / S +0.0056% | 1h | 1.8020 | −0.622% | $1K | — | 150x | as long as short |
| Injective RAY/USDC PERP | +0.0033% | 1h | 1.6428 | −9.403% | $266 | $25 | 5.5x | as long as short |
| MEXC RAY_USDT | +0.0050% | 8h | 1.8129 | −0.022% | $12.6M | $2.4M | 100x | as long as short |
| OKX RAY-USDT-SWAP | +0.0100% | 8h | 1.8118 | −0.083% | $4.5M | $13.0M | 20x | as long as short |
| Gate RAY_USDT | +0.0100% | 4h | 1.8108 | −0.138% | $583K | $1.1M | 25x | as long as short |
| KuCoin RAYUSDTM | +0.0100% | 4h | 1.8125 | −0.044% | $1.9M | $784K | 50x | as long as short |
| Bitget RAYUSDT | +0.0100% | 4h | 1.8124 | −0.050% | $2.6M | $3.8M | 25x | as long as short |
| Variational Omni RAY | +0.0100% | 4h | 1.8024 | −0.600% | $704K | $887K | — | as long as short |
| Bullet RAY-USD | +0.0100% | 1h | 1.8036 | −0.537% | $68K | $66K | 10x | 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
Variational Omni RAY
Bullet RAY-USDShow all 16 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX RAY-USDT | +0.0100% | 4h | 1.8040 | −0.513% | — | $2.4M | 10x | as long as short |
| HTX RAY-USDT | +0.0100% | 4h | 1.8022 | −0.612% | $13K | $90K | 20x | as long as short |
| BingX RAY-USDTlong | +0.0102% | 4h | 1.8133 | long leg | — | $2.0M | — | |
| BloFin RAY-USDT | +0.0220% | 8h | 1.7927 | −1.136% | $251K | $929K | 20x | as long as short |
| Lighter RAY | +0.0416% | 1h | 1.8150 | +0.094% | $264K | $308K | 5x | as long as short |
| Orderly PERP_RAY_USDCshort | +0.0983% | 4h | 1.8081 | −0.287% | $324K | $400K | 10x |
SunX RAY-USDT
HTX RAY-USDT
BloFin RAY-USDT
Lighter RAY