RAY

Alert

Funding spread now, next payment 17:00 UTC−0.0730%/8h

paid, last 24h−0.144%paid, last 3 days−0.116%to open and closeno order book

Long on Injective Short on Variational Omni

The current rate is far above what this pair has been paying: over the last 3 days it paid -0.116% in total (about -13.9% a year). A funding rate is set anew for every payment. 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	Injective RAY/USDC PERP	1.6428	0.0033	pay 0.0004% / 1h	6m 35s	$266	$25	5.5x
Short	Variational Omni RAY	1.7620	−0.0697	pay 0.0348% / 4h	3h 06m	$623K	$948K	—

Funding history

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee InjectivebpFee Variational OmnibpOrdersRate

Funding earned: −$153.33
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$153.35
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; Variational Omni: RFQ quote, 39 min ago. Net counts fees only.

Price risk

price view

Price gap now: +7.257%
Avg gap 7d: —

A gap far from its average can cost days of funding.

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

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 Variational Omni RFQ quote, 39 min ago	4.10 bp	doesn't fit	47.4 bp −$474	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.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Variational Omni RAYshort	−0.0697%	4h	$623K	$948K	—
MEXC RAY_USDT	−0.0108%	8h	$13.5M	$2.0M	100x	as long as short
OKX RAY-USDT-SWAP	−0.0105%	8h	$4.4M	$11.4M	20x	as long as short
KuCoin RAYUSDTM	−0.0080%	4h	$2.1M	$629K	50x	as long as short
gTrade (Gains Network) RAY/USD	L +0.0001% / S +0.0056%	1h	$2K	—	150x	as long as short
BloFin RAY-USDT	+0.0015%	8h	$257K	$792K	20x	as long as short
Injective RAY/USDC PERPlong	+0.0033%	1h	$266	$25	5.5x
Bullet RAY-USD	+0.0096%	1h	$103K	$47K	10x	as long as short
Gate RAY_USDT	+0.0100%	4h	$621K	$830K	25x	as long as short
Bitget RAYUSDT	+0.0100%	4h	$2.6M	$2.8M	25x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
BingX RAY-USDT	+0.0100%	4h	—	$1.9M	—	as long as short
Orderly PERP_RAY_USDC	+0.0100%	4h	$230K	$163K	10x	as long as short
SunX RAY-USDT	+0.0100%	4h	—	$2.6M	10x	as long as short
HTX RAY-USDT	+0.0100%	4h	$14K	$210K	20x	as long as short
Lighter RAY	+0.0472%	1h	$334K	$188K	5x	as long as short
Kraken Futures PF_RAYUSD	+0.0793%	1h	$82K	$369K	10x	as long as short