Funding you earn now, next payment 01:00 UTC+0.2009%/8h= +220.0% APRpaid last 24h +0.165%
Price spread now: BloFin against Kraken Futures−0.831%7-day average −0.167% · you buy dearer than you sell
Net, funding: paid 7d − costs−$168as in the Funding arb table
Net, price: spread back to 7d avg − costs−$243as in the Price arb table
costs, in and out, $10k−$1771.770% of the position
Funding, last 7 days+0.094%+$9 on $10k
+Price spread, last 3 days (all we have)+0.675%+$68 · spread now −0.831%, 7d avg −0.167%
=Funding pays, the price is against you. BloFin is 0.664% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.831% now, against its 7-day average of −0.167%). If the spread goes back, that is −$66 on $10k: about 26 hours of funding at the current rate (+$60 a day). At the pace of the last 7 days (+0.094% in total) that is about 50 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.094% in total (about 4.9% 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 | Kraken Futures PF_RAYUSD | 1.8273 | −0.1789 | get 0.0224% / 1h | 0m 40s | $92K | $440K | 10x |
| Short | BloFin RAY-USDT | 1.8121 | 0.0220 | get 0.0220% / 8h | 7h 00m | $259K | $877K | 20x |
Kraken Futures PF_RAYUSD
BloFin RAY-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BloFin 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
- $421.86
- Price spread: −0.831% → −0.167%
- −$66.44
- Slippage, 4 orders
- −$155.03
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee BloFin: 6 bp × 2 orders
- −$12
- Net
- $178.39
- Costs to cover
- 1.770%
- Break-even
- 4.0 days
Slippage from Kraken Futures: live order book, 7 min ago; BloFin: live order book, 6 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, 7 min ago | 60.85 bp | 69.9 bp −$70 | doesn't fit | doesn't fit | doesn't fit |
| Sell BloFin live order book, 6 min ago | 0.82 bp | 14.5 bp −$15 | doesn't fit | 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 | −0.1789% | 1h | 1.8273 | long leg | $92K | $440K | 10x | |
| gTrade (Gains Network) RAY/USD | L +0.0001% / S +0.0056% | 1h | 1.8179 | −0.512% | $2K | — | 150x | as long as short |
| Injective RAY/USDC PERP | +0.0033% | 1h | 1.6428 | −10.096% | $266 | $25 | 5.5x | as long as short |
| MEXC RAY_USDT | +0.0050% | 8h | 1.8135 | −0.754% | $12.8M | $2.5M | 100x | as long as short |
| OKX RAY-USDT-SWAP | +0.0100% | 8h | 1.8131 | −0.776% | $4.6M | $13.2M | 20x | as long as short |
| Gate RAY_USDT | +0.0100% | 4h | 1.8149 | −0.678% | $557K | $1.1M | 25x | as long as short |
| KuCoin RAYUSDTM | +0.0100% | 4h | 1.8164 | −0.596% | $2.0M | $772K | 50x | as long as short |
| Bitget RAYUSDT | +0.0100% | 4h | 1.8169 | −0.568% | $2.6M | $3.7M | 25x | as long as short |
| Variational Omni RAY | +0.0100% | 4h | 1.8181 | −0.504% | $712K | $1.0M | — | as long as short |
| Bullet RAY-USD | +0.0100% | 1h | 1.8187 | −0.471% | $68K | $66K | 10x | as long as short |
gTrade (Gains Network) RAY/USD
Injective RAY/USDC PERP
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 | 1.8192 | −0.442% | — | $2.5M | 10x | as long as short |
| HTX RAY-USDT | +0.0100% | 4h | 1.8251 | −0.120% | $13K | $107K | 20x | as long as short |
| BloFin RAY-USDTshort | +0.0220% | 8h | 1.8121 | −0.831% | $259K | $877K | 20x | |
| Lighter RAY | +0.0448% | 1h | 1.8196 | −0.421% | $271K | $285K | 5x | as long as short |
| BingX RAY-USDT | +0.0490% | 4h | 1.8170 | −0.563% | — | $2.0M | — | as long as short |
| Orderly PERP_RAY_USDC | +0.0574% | 4h | 1.8204 | −0.377% | $258K | $247K | 10x | as long as short |
SunX RAY-USDT
HTX RAY-USDT
Lighter RAY
BingX RAY-USDT
Orderly PERP_RAY_USDC