RAY

Alert

Funding spread now, next payment 17:00 UTC−0.1564%/8h

paid, last 24h−0.107%paid, last 3 days−0.338%to open and closeno order book

Long on Kraken Futures Short on Variational Omni

The current rate is far above what this pair has been paying: over the last 3 days it paid -0.338% in total (about -41.1% 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	1.7833	0.0779	pay 0.0097% / 1h	53m 07s	$83K	$381K	10x
Short	Variational Omni RAY	1.7765	−0.0784	pay 0.0392% / 4h	3h 53m	$626K	$881K	—

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 Variational OmnibpOrdersRate

Funding earned: −$328.39
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$338.39
Break-even: never at this rate

Slippage unknown: Kraken Futures: live order book, 56 min ago; Variational Omni: RFQ quote, 57 min ago. Net counts fees only.

Price risk

price view

Price gap now: −0.377%
Avg gap 7d: −0.183%

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, 56 min ago	25.68 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 57 min ago	5.76 bp	doesn't fit	63.3 bp −$633	doesn't fit	doesn't fit

RAY on 16 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Variational Omni RAYshort	−0.0784%	4h	$626K	$881K	—
MEXC RAY_USDT	−0.0597%	8h	$13.8M	$1.9M	100x	as long as short
OKX RAY-USDT-SWAP	−0.0120%	8h	$4.4M	$11.9M	20x	as long as short
KuCoin RAYUSDTM	−0.0030%	4h	$2.1M	$612K	50x	as long as short
BloFin RAY-USDT	−0.0002%	8h	$252K	$805K	20x	as long as short
gTrade (Gains Network) RAY/USD	L +0.0001% / S +0.0056%	1h	$2K	—	150x	as long as short
Injective RAY/USDC PERP	+0.0033%	1h	$266	$25	5.5x	as long as short
Bullet RAY-USD	+0.0050%	1h	$105K	$47K	10x	as long as short
Gate RAY_USDT	+0.0100%	4h	$591K	$756K	25x	as long as short
Bitget RAYUSDT	+0.0100%	4h	$2.6M	$2.8M	25x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
BingX RAY-USDT	+0.0100%	4h	—	$2.0M	—	as long as short
Orderly PERP_RAY_USDC	+0.0100%	4h	$236K	$149K	10x	as long as short
SunX RAY-USDT	+0.0100%	4h	—	$2.7M	10x	as long as short
HTX RAY-USDT	+0.0100%	4h	$14K	$221K	20x	as long as short
Lighter RAY	+0.0176%	1h	$319K	$151K	5x	as long as short
Kraken Futures PF_RAYUSDlong	+0.0779%	1h	$83K	$381K	10x