RAY

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.2337%/8h= +255.9% APRnext payment +$2.92 per $10,000 · paid last 24h +0.067%

Price spread now: Injective against Kraken Futures−10.345%7-day average — · you buy dearer than you sell

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

Long on Kraken Futures Short on Injective

What this pair did over the last

the charts below follow

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

Funding pays, the price is against you. Injective is 10.345% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −10.345% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$1,034 on $10k: about 15 days of funding at the current rate (+$70 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_RAYUSD	1.8323	−0.2304	get 0.0288% / 1h	5m 08s	$97K	$441K	10x
Short	Injective RAY/USDC PERP	1.6428	0.0033	get 0.0004% / 1h	5m 08s	$266	$25	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Kraken Futures. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Kraken FuturesbpFee InjectivebpOrdersPrice spread, now −10.345%Rate

Funding earned: $490.76
Price spread: −10.345% → 0.000%: −$1,034.46
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$553.72
Costs to cover: 0.100%
Break-even: 14.9 days

Slippage unknown: Kraken Futures: live order book, 13 min ago; Injective: 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 Kraken Futures live order book, 13 min ago	33.02 bp	66.9 bp −$67	doesn't fit	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

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_RAYUSDlong	−0.2304%	1h	1.8323	long leg	$97K	$441K	10x
gTrade (Gains Network) RAY/USD	L +0.0001% / S +0.0056%	1h	1.8342	+0.099%	$2K	—	150x	as long as short
Injective RAY/USDC PERPshort	+0.0033%	1h	1.6428	−10.345%	$266	$25	5.5x
MEXC RAY_USDT	+0.0070%	8h	1.8338	+0.079%	$13.4M	$2.6M	100x	as long as short
OKX RAY-USDT-SWAP	+0.0100%	8h	1.8342	+0.101%	$4.6M	$13.2M	20x	as long as short
Gate RAY_USDT	+0.0100%	4h	1.8347	+0.128%	$572K	$1.1M	25x	as long as short
KuCoin RAYUSDTM	+0.0100%	4h	1.8344	+0.112%	$2.0M	$756K	50x	as long as short
Bitget RAYUSDT	+0.0100%	4h	1.8343	+0.106%	$2.7M	$3.5M	25x	as long as short
BingX RAY-USDT	+0.0100%	4h	1.8348	+0.134%	—	$2.0M	—	as long as short
Variational Omni RAY	+0.0100%	4h	1.8368	+0.243%	$728K	$1.0M	—	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bullet RAY-USD	+0.0100%	1h	1.8352	+0.158%	$108K	$47K	10x	as long as short
SunX RAY-USDT	+0.0100%	4h	1.8354	+0.167%	—	$2.6M	10x	as long as short
HTX RAY-USDT	+0.0100%	4h	1.8354	+0.167%	$15K	$131K	20x	as long as short
Lighter RAY	+0.0176%	1h	1.8377	+0.292%	$294K	$257K	5x	as long as short
BloFin RAY-USDT	+0.0220%	8h	1.8322	−0.008%	$259K	$863K	20x	as long as short
Orderly PERP_RAY_USDC	+0.0534%	4h	1.8367	+0.237%	$254K	$248K	10x	as long as short