RAY

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0474%/8h= +51.9% APRnext payment +$2.37 per $10,000 · paid last 24h +0.030%

Price spread now: Orderly against KuCoin+0.291%7-day average +0.038% · you sell dearer than you buy

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

Long on KuCoin Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days+0.052%+$5 on $10k

Price spread, last 3 days (all we have)−0.283%−$28 · spread now +0.291%, 7d avg +0.038%

Together, before fees−0.231%−$23 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$14 a day on $10k at the current rate, and Orderly is 0.254% dearer against KuCoin than usual: you sell high and buy low: +$25 more if the spread goes back to its 7-day average of +0.038%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.052% in total (about 2.7% a year). A funding rate is set anew for every payment; at this rate the next one is about +$2.37 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	KuCoin RAYUSDTM	1.8192	0.0100	pay 0.0050% / 4h	3h 01m	$2.0M	$770K	50x
Short	Orderly PERP_RAY_USDC	1.8245	0.0574	get 0.0287% / 4h	3h 01m	$259K	$247K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against KuCoin. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

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 KuCoinbpFee OrderlybpOrdersPrice spread, now +0.291%Rate

Funding earned: $99.54
Price spread: +0.291% → +0.038%: $25.37
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Orderly: 3 bp × 2 orders: −$6
Net: $106.9
Costs to cover: 0.180%
Break-even: from the start

Slippage unknown: KuCoin: live order book, 5 min ago; Orderly: 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 KuCoin live order book, 5 min ago	8.16 bp	57.9 bp −$58	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: 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_RAYUSD	−0.1788%	1h	1.8277	+0.469%	$92K	$440K	10x	as long as short
gTrade (Gains Network) RAY/USD	L +0.0001% / S +0.0056%	1h	1.8251	+0.323%	$2K	—	150x	as long as short
Injective RAY/USDC PERP	+0.0033%	1h	1.6428	−9.697%	$266	$25	5.5x	as long as short
MEXC RAY_USDT	+0.0050%	8h	1.8201	+0.049%	$12.8M	$2.5M	100x	as long as short
OKX RAY-USDT-SWAP	+0.0100%	8h	1.8199	+0.038%	$4.6M	$13.2M	20x	as long as short
Gate RAY_USDT	+0.0100%	4h	1.8200	+0.044%	$558K	$1.1M	25x	as long as short
KuCoin RAYUSDTMlong	+0.0100%	4h	1.8192	long leg	$2.0M	$770K	50x
Bitget RAYUSDT	+0.0100%	4h	1.8207	+0.082%	$2.6M	$3.7M	25x	as long as short
Variational Omni RAY	+0.0100%	4h	1.8375	+1.004%	$720K	$1.0M	—	as long as short
Bullet RAY-USD	+0.0100%	1h	1.8266	+0.407%	$69K	$66K	10x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX RAY-USDT	+0.0100%	4h	1.8269	+0.423%	—	$2.5M	10x	as long as short
HTX RAY-USDT	+0.0100%	4h	1.8251	+0.324%	$13K	$107K	20x	as long as short
BloFin RAY-USDT	+0.0220%	8h	1.8299	+0.588%	$257K	$873K	20x	as long as short
Lighter RAY	+0.0464%	1h	1.8246	+0.297%	$272K	$285K	5x	as long as short
BingX RAY-USDT	+0.0490%	4h	1.8205	+0.071%	—	$2.0M	—	as long as short
Orderly PERP_RAY_USDCshort	+0.0574%	4h	1.8245	+0.291%	$259K	$247K	10x