RAY

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0067%/8h= −7.3% APRnext payment −$0.08 per $10,000 · paid last 24h −0.003%

Price spread now: Injective against Bullet−10.269%54s7-day average — · you buy dearer than you sell

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

Long on Bullet Short on Injective

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Injective is 10.269% cheaper against Bullet than usual: you would sell low and buy high (−$1,027 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bullet RAY-USD	1.8308	0.0100	pay 0.0013% / 1h	9m 34s	$69K	$66K	10x
Short	Injective RAY/USDC PERP	1.6428	0.0033	get 0.0004% / 1h	9m 34s	$266	$25	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Bullet. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

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 BulletbpFee InjectivebpOrdersPrice spread, now −10.269%Rate

Funding earned: −$14
Price spread: −10.269% → 0.000%: −$1,026.87
Slippage, 4 orders: no order book: not counted
Fee Bullet: 4 bp × 2 orders: −$8
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$1,048.89
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: Bullet: no order-book sample; Injective: 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 Bullet no order-book sample	—	—	—	—	—
Sell Injective no order-book sample	—	—	—	—	—

Bullet and Injective: 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
gTrade (Gains Network) RAY/USD	L +0.0001% / S +0.0056%	1h	1.8297	−0.062%	$1K	—	150x	as long as short
Injective RAY/USDC PERPshort	+0.0033%	1h	1.6428	−10.269%	$266	$25	5.5x
OKX RAY-USDT-SWAP	+0.0100%	8h	1.8274	−0.186%	$4.5M	$13.1M	20x	as long as short
Gate RAY_USDT	+0.0100%	4h	1.8288	−0.109%	$588K	$1.1M	25x	as long as short
KuCoin RAYUSDTM	+0.0100%	4h	1.8282	−0.142%	$2.0M	$779K	50x	as long as short
Bitget RAYUSDT	+0.0100%	4h	1.8280	−0.153%	$2.6M	$3.8M	25x	as long as short
BingX RAY-USDT	+0.0100%	4h	1.8287	−0.115%	—	$2.0M	—	as long as short
Variational Omni RAY	+0.0100%	4h	1.8272	−0.197%	$712K	$961K	—	as long as short
Bullet RAY-USDlong	+0.0100%	1h	1.8308	long leg	$69K	$66K	10x
SunX RAY-USDT	+0.0100%	4h	1.8313	+0.027%	—	$2.4M	10x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX RAY-USDT	+0.0100%	4h	1.8297	−0.060%	$13K	$90K	20x	as long as short
MEXC RAY_USDT	+0.0175%	8h	1.8289	−0.104%	$12.7M	$2.4M	100x	as long as short
BloFin RAY-USDT	+0.0220%	8h	1.8257	−0.279%	$213K	$884K	20x	as long as short
Lighter RAY	+0.0432%	1h	1.8310	+0.011%	$269K	$298K	5x	as long as short
Kraken Futures PF_RAYUSD	+0.0765%	1h	1.8197	−0.607%	$91K	$456K	10x	as long as short
Orderly PERP_RAY_USDC	+0.0783%	4h	1.8342	+0.186%	$329K	$402K	10x	as long as short