RAY

Alert

Funding spread now, next payment 16:00 UTC+0.1390%/8h

paid, last 24h+0.037%paid, last 7 days−0.126%to open and closeno order book

The current rate is far above what this pair has been paying: over the last 7 days it paid -0.126% in total (about -6.6% 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	1.7973	−0.1290	get 0.0161% / 1h	39m 54s	$85K	$352K	10x
Short	Orderly PERP_RAY_USDC	1.7956	0.0100	get 0.0050% / 4h	39m 54s	$237K	$151K	10x

Funding history

latest

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Funding on every exchange

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latest

Profit calculator

Position, each leg$Hold fordaysFee Kraken FuturesbpFee OrderlybpOrdersRate

Funding earned: $291.91
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: $275.91
Break-even: 0.4 days

Slippage unknown: Kraken Futures: live order book, 9 min ago; Orderly: no order-book sample. Net counts fees only.

Price risk

price view

Price gap now: −0.095%
Avg gap 7d: −0.121%

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 Kraken Futures live order book, 9 min ago	25.68 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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
Kraken Futures PF_RAYUSDlong	−0.1290%	1h	$85K	$352K	10x
Variational Omni RAY	−0.0626%	4h	$615K	$870K	—	as long as short
MEXC RAY_USDT	−0.0528%	8h	$14.0M	$2.1M	100x	as long as short
Bullet RAY-USD	−0.0379%	1h	$106K	$47K	10x	as long as short
OKX RAY-USDT-SWAP	−0.0108%	8h	$4.4M	$12.0M	20x	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	+0.0013%	8h	$251K	$736K	20x	as long as short
Injective RAY/USDC PERP	+0.0033%	1h	$266	$25	5.5x	as long as short
KuCoin RAYUSDTM	+0.0078%	4h	$2.1M	$594K	50x	as long as short
Gate RAY_USDT	+0.0100%	4h	$584K	$776K	25x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Bitget RAYUSDT	+0.0100%	4h	$2.7M	$2.9M	25x	as long as short
BingX RAY-USDT	+0.0100%	4h	—	$2.1M	—	as long as short
Orderly PERP_RAY_USDCshort	+0.0100%	4h	$237K	$151K	10x
SunX RAY-USDT	+0.0100%	4h	—	$2.6M	10x	as long as short
HTX RAY-USDT	+0.0100%	4h	$15K	$237K	20x	as long as short
Lighter RAY	+0.0544%	1h	$327K	$146K	5x	as long as short