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 −0.004%

Price spread now: Bullet against Injective+8.377%54s7-day average — · you sell dearer than you buy

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

Long on Injective Short on Bullet

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 for this trade now. Funding pays +$2 a day on $10k at the current rate, and Bullet is 8.377% dearer against Injective than usual: you sell high and buy low: +$838 more if the spread goes back to zero (this spread has no 7-day history yet). 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	Injective RAY/USDC PERP	1.6428	0.0033	pay 0.0004% / 1h	57m 54s	$266	$25	5.5x
Short	Bullet RAY-USD	1.7804	0.0100	get 0.0013% / 1h	57m 54s	$67K	$66K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet against Injective. 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 InjectivebpFee BulletbpOrdersPrice spread, now +8.377%Rate

Funding earned: $14
Price spread: +8.377% → 0.000%: $837.74
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Bullet: 4 bp × 2 orders: −$8
Net: $843.72
Costs to cover: 0.080%
Break-even: from the start

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

Injective and Bullet: 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	1.7796	+8.327%	$1K	—	150x	as long as short
Injective RAY/USDC PERPlong	+0.0033%	1h	1.6428	long leg	$266	$25	5.5x
OKX RAY-USDT-SWAP	+0.0100%	8h	1.7759	+8.102%	$4.4M	$12.7M	20x	as long as short
Gate RAY_USDT	+0.0100%	4h	1.7770	+8.169%	$556K	$1.1M	25x	as long as short
KuCoin RAYUSDTM	+0.0100%	4h	1.7775	+8.199%	$1.9M	$778K	50x	as long as short
Bitget RAYUSDT	+0.0100%	4h	1.7767	+8.151%	$2.6M	$3.7M	25x	as long as short
BingX RAY-USDT	+0.0100%	4h	1.7763	+8.126%	—	$2.0M	—	as long as short
Variational Omni RAY	+0.0100%	4h	1.7823	+8.491%	$697K	$985K	—	as long as short
Bullet RAY-USDshort	+0.0100%	1h	1.7804	+8.377%	$67K	$66K	10x
SunX RAY-USDT	+0.0100%	4h	1.7817	+8.455%	—	$2.4M	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	1.7796	+8.327%	$13K	$98K	20x	as long as short
Lighter RAY	+0.0176%	1h	1.7827	+8.516%	$263K	$283K	5x	as long as short
MEXC RAY_USDT	+0.0329%	8h	1.7769	+8.163%	$12.5M	$2.4M	100x	as long as short
Orderly PERP_RAY_USDC	+0.0586%	4h	1.7807	+8.394%	$217K	$285K	10x	as long as short
Kraken Futures PF_RAYUSD	+0.0783%	1h	1.7780	+8.232%	$89K	$450K	10x	as long as short