Funding you earn now, next payment 00:00 UTC+0.2538%/8h= +277.9% APRpaid last 24h +0.121%
Price spread now: Bitget against Kraken Futures+0.287%7-day average −0.120% · you sell dearer than you buy
Net, funding: paid 7d − costs−$202as in the Funding arb table
Net, price: spread back to 7d avg − costs−$161as in the Price arb table
costs, in and out, $10k−$2012.015% of the position
Funding, last 7 days−0.002%$0 on $10k
+Price spread, last 3 days (all we have)−0.518%−$52 · spread now +0.287%, 7d avg −0.120%
=Both sides work for this trade now. Funding pays +$76 a day on $10k at the current rate, and Bitget is 0.407% dearer against Kraken Futures than usual: you sell high and buy low: +$41 more if the spread goes back to its 7-day average of −0.120%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.002% in total (about -0.1% 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 | Kraken Futures PF_RAYUSD | 1.7995 | −0.2438 | get 0.0305% / 1h | 23m 59s | $95K | $439K | 10x |
| Short | Bitget RAYUSDT | 1.8047 | 0.0100 | get 0.0050% / 4h | 23m 59s | $2.6M | $3.6M | 25x |
Kraken Futures PF_RAYUSD
Bitget RAYUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bitget against Kraken Futures. 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
- $532.98
- Price spread: +0.287% → −0.120%
- $40.67
- Slippage, 4 orders
- −$179.48
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Bitget: 6 bp × 2 orders
- −$12
- Net
- $372.17
- Costs to cover
- 2.015%
- Break-even
- 2.1 days
Slippage from Kraken Futures: live order book, 54 min ago; Bitget: live order book, 4 min ago.
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 Kraken Futures live order book, 54 min ago | 33.02 bp | 66.9 bp −$67 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bitget live order book, 4 min ago | 3.04 bp | 19.6 bp −$20 | 43.3 bp −$433 | doesn't fit | doesn't fit |
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_RAYUSDlong | −0.2438% | 1h | 1.7995 | long leg | $95K | $439K | 10x | |
| gTrade (Gains Network) RAY/USD | L +0.0001% / S +0.0056% | 1h | 1.8056 | +0.335% | $2K | — | 150x | as long as short |
| Injective RAY/USDC PERP | +0.0033% | 1h | 1.6428 | −8.710% | $266 | $25 | 5.5x | as long as short |
| OKX RAY-USDT-SWAP | +0.0100% | 8h | 1.8031 | +0.198% | $4.5M | $13.0M | 20x | as long as short |
| Gate RAY_USDT | +0.0100% | 4h | 1.8042 | +0.259% | $561K | $1.1M | 25x | as long as short |
| KuCoin RAYUSDTM | +0.0100% | 4h | 1.8047 | +0.287% | $2.0M | $751K | 50x | as long as short |
| Bitget RAYUSDTshort | +0.0100% | 4h | 1.8047 | +0.287% | $2.6M | $3.6M | 25x | |
| BingX RAY-USDT | +0.0100% | 4h | 1.8052 | +0.315% | — | $2.0M | — | as long as short |
| Variational Omni RAY | +0.0100% | 4h | 1.8096 | +0.559% | $709K | $1.0M | — | as long as short |
| Bullet RAY-USD | +0.0100% | 1h | 1.8059 | +0.353% | $106K | $44K | 10x | as long as short |
gTrade (Gains Network) RAY/USD
Injective RAY/USDC PERP
OKX RAY-USDT-SWAP
Gate RAY_USDT
KuCoin RAYUSDTM
BingX RAY-USDT
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 | 1.8055 | +0.331% | — | $2.6M | 10x | as long as short |
| HTX RAY-USDT | +0.0100% | 4h | 1.8066 | +0.393% | $15K | $121K | 20x | as long as short |
| BloFin RAY-USDT | +0.0220% | 8h | 1.8077 | +0.454% | $257K | $853K | 20x | as long as short |
| MEXC RAY_USDT | +0.0225% | 8h | 1.8046 | +0.281% | $12.9M | $2.5M | 100x | as long as short |
| Lighter RAY | +0.0376% | 1h | 1.8074 | +0.437% | $285K | $258K | 5x | as long as short |
| Orderly PERP_RAY_USDC | +0.0604% | 4h | 1.8072 | +0.426% | $250K | $247K | 10x | as long as short |
SunX RAY-USDT
HTX RAY-USDT
BloFin RAY-USDT
MEXC RAY_USDT
Lighter RAY
Orderly PERP_RAY_USDC