Funding you earn now, next payment 01:00 UTC−0.1821%/8h= −199.4% APRnext payment −$2.28 per $10,000 · paid last 24h −0.132%
Price spread now: Kraken Futures against Injective+11.297%63s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 4 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
The price spread pays, funding is against you. Kraken Futures is 11.297% dearer against Injective than usual: you sell high and buy low (spread +11.297% now, against zero (this spread has no 7-day history yet)): +$1,130 on $10k if it goes back. Holding the pair costs −$55 a day in funding at the current rate, which eats that in about 21 days. The two prices were read 63 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 | 25m 25s | $266 | $25 | 5.5x |
| Short | Kraken Futures PF_RAYUSD | 1.8284 | −0.1788 | pay 0.0223% / 1h | 25m 25s | $97K | $434K | 10x |
Injective RAY/USDC PERP
Kraken Futures PF_RAYUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against Injective. 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
- −$382.43
- Price spread: +11.297% → 0.000%
- $1,129.71
- Slippage, 4 orders
- no order book: not counted
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- $737.26
- Costs to cover
- 0.100%
- Break-even
- from the start
Slippage unknown: Injective: no order-book sample; Kraken Futures: live order book, 47 min ago. 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 Kraken Futures live order book, 47 min ago | 67.29 bp | 139.5 bp −$140 | doesn't fit | doesn't fit | doesn't fit |
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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_RAYUSDshort | −0.1788% | 1h | 1.8284 | +11.297% | $97K | $434K | 10x | |
| gTrade (Gains Network) RAY/USD | L +0.0001% / S +0.0056% | 1h | 1.8280 | +11.275% | $2K | — | 150x | as long as short |
| Injective RAY/USDC PERPlong | +0.0033% | 1h | 1.6428 | long leg | $266 | $25 | 5.5x | |
| MEXC RAY_USDT | +0.0050% | 8h | 1.8332 | +11.590% | $12.9M | $2.5M | 100x | as long as short |
| OKX RAY-USDT-SWAP | +0.0100% | 8h | 1.8256 | +11.127% | $4.6M | $13.2M | 20x | as long as short |
| Gate RAY_USDT | +0.0100% | 4h | 1.8260 | +11.152% | $568K | $1.1M | 25x | as long as short |
| KuCoin RAYUSDTM | +0.0100% | 4h | 1.8269 | +11.206% | $2.0M | $763K | 50x | as long as short |
| Bitget RAYUSDT | +0.0100% | 4h | 1.8267 | +11.194% | $2.7M | $3.7M | 25x | as long as short |
| Variational Omni RAY | +0.0100% | 4h | 1.8288 | +11.322% | $716K | $1.0M | — | as long as short |
| Bullet RAY-USD | +0.0100% | 1h | 1.8342 | +11.649% | $108K | $44K | 10x | as long as short |
gTrade (Gains Network) RAY/USD
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 | 1.8298 | +11.383% | — | $2.6M | 10x | as long as short |
| HTX RAY-USDT | +0.0100% | 4h | 1.8239 | +11.024% | $15K | $108K | 20x | as long as short |
| BloFin RAY-USDT | +0.0220% | 8h | 1.8262 | +11.164% | $255K | $872K | 20x | as long as short |
| Lighter RAY | +0.0320% | 1h | 1.8231 | +10.975% | $274K | $281K | 5x | as long as short |
| BingX RAY-USDT | +0.0360% | 4h | 1.8278 | +11.261% | — | $2.0M | — | as long as short |
| Orderly PERP_RAY_USDC | +0.0552% | 4h | 1.8309 | +11.450% | $258K | $245K | 10x | as long as short |
SunX RAY-USDT
HTX RAY-USDT
BloFin RAY-USDT
Lighter RAY
BingX RAY-USDT
Orderly PERP_RAY_USDC