Funding you earn now, next payment 01:00 UTC+0.2243%/8h= +245.6% APRnext payment +$2.80 per $10,000 · paid last 24h +0.262%
Price spread now: Lighter against Kraken Futures−0.301%7-day average +0.048% · you buy dearer than you sell
Net, funding: paid 7d − costs−$121as in the Funding arb table
Net, price: spread back to 7d avg − costs−$209as in the Price arb table
costs, in and out, $10k−$1741.737% of the position
Funding, last 7 days+0.524%+$52 on $10k
+Price spread, last 3 days (all we have)+0.476%+$48 · spread now −0.301%, 7d avg +0.048%
=Together, before fees+1.000%+ Points / potential airdropLighter: Season 3 · farm board+$100 on $10k · with fees, hour by hour
Funding pays, the price is against you. Lighter is 0.349% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.301% now, against its 7-day average of +0.048%). If the spread goes back, that is −$35 on $10k: about 12 hours of funding at the current rate (+$67 a day). At the pace of the last 7 days (+0.524% in total) that is about 4.7 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.524% in total (about 27.3% a year). A funding rate is set anew for every payment; at this rate the next one is about +$2.80 per $10,000. 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 | 1.8376 | −0.1779 | get 0.0222% / 1h | 2m 41s | $92K | $443K | 10x |
| Short | Lighter RAY | 1.8321 | 0.0464 | get 0.0058% / 1h | 2m 41s | $273K | $285K | 5x |
Kraken Futures PF_RAYUSD
Lighter RAYFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter 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
- $470.98
- Price spread: −0.301% → +0.048%
- −$34.88
- Slippage, 4 orders
- −$163.69
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- $262.41
- Costs to cover
- 1.737%
- Break-even
- 3.1 days
Slippage from Kraken Futures: live order book, 5 min ago; Lighter: live order book, 53 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, 5 min ago | 60.85 bp | 69.9 bp −$70 | doesn't fit | doesn't fit | doesn't fit |
| Sell Lighter live order book, 53 min ago | 2.79 bp | 15.4 bp −$15 | 97.4 bp −$974 | 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 | −0.1779% | 1h | 1.8376 | long leg | $92K | $443K | 10x | |
| gTrade (Gains Network) RAY/USD | L +0.0001% / S +0.0056% | 1h | 1.8315 | −0.334% | $2K | — | 150x | as long as short |
| Injective RAY/USDC PERP | +0.0033% | 1h | 1.6428 | −10.602% | $266 | $25 | 5.5x | as long as short |
| MEXC RAY_USDT | +0.0050% | 8h | 1.8273 | −0.562% | $12.9M | $2.5M | 100x | as long as short |
| OKX RAY-USDT-SWAP | +0.0100% | 8h | 1.8258 | −0.644% | $4.6M | $13.3M | 20x | as long as short |
| Gate RAY_USDT | +0.0100% | 4h | 1.8267 | −0.595% | $561K | $1.1M | 25x | as long as short |
| KuCoin RAYUSDTM | +0.0100% | 4h | 1.8284 | −0.502% | $2.0M | $770K | 50x | as long as short |
| Bitget RAYUSDT | +0.0100% | 4h | 1.8271 | −0.573% | $2.6M | $3.7M | 25x | as long as short |
| Variational Omni RAY | +0.0100% | 4h | 1.8375 | −0.009% | $720K | $1.0M | — | as long as short |
| Bullet RAY-USD | +0.0100% | 1h | 1.8314 | −0.339% | $69K | $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 | 1.8321 | −0.301% | — | $2.5M | 10x | as long as short |
| HTX RAY-USDT | +0.0100% | 4h | 1.8315 | −0.334% | $13K | $108K | 20x | as long as short |
| BloFin RAY-USDT | +0.0220% | 8h | 1.8299 | −0.421% | $257K | $873K | 20x | as long as short |
| Lighter RAYshort | +0.0464% | 1h | 1.8321 | −0.301% | $273K | $285K | 5x | |
| BingX RAY-USDT | +0.0490% | 4h | 1.8279 | −0.530% | — | $2.0M | — | as long as short |
| Orderly PERP_RAY_USDC | +0.0573% | 4h | 1.8336 | −0.219% | $260K | $247K | 10x | as long as short |
SunX RAY-USDT
HTX RAY-USDT
BloFin RAY-USDT
BingX RAY-USDT
Orderly PERP_RAY_USDC