Funding you earn now, next payment 01:00 UTC−0.0100%/8h= −11.0% APRpaid last 24h −0.097%
Price spread now: BloFin against Lighter−0.306%60s7-day average −0.215% · you buy dearer than you sell
Net, funding: paid 7d − costs−$115as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$720.718% of the position
Funding, last 7 days−0.430%−$43 on $10k
+Price spread, last 3 days (all we have)−0.026%−$3 · spread now −0.306%, 7d avg −0.215%
=Together, before fees−0.456%+ Points / potential airdropLighter: Season 3 · farm board−$46 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and BloFin is 0.091% cheaper against Lighter than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of −0.215%). Swap the legs. The two prices were read 60 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter RAY | 1.8318 | 0.0320 | pay 0.0040% / 1h | 25m 54s | $276K | $281K | 5x |
| Short | BloFin RAY-USDT | 1.8262 | 0.0220 | get 0.0220% / 8h | 7h 25m | $255K | $872K | 20x |
Lighter RAY
BloFin RAY-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BloFin against Lighter. 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
- −$21
- Price spread: −0.306% → −0.215%
- −$9.05
- Slippage, 4 orders
- −$59.83
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee BloFin: 6 bp × 2 orders
- −$12
- Net
- −$101.88
- Costs to cover
- 0.718%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 30 min ago; BloFin: live order book, 46 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 Lighter live order book, 30 min ago | 2.79 bp | 19.5 bp −$20 | 118.6 bp −$1,186 | doesn't fit | doesn't fit |
| Sell BloFin live order book, 46 min ago | 0.55 bp | 19.1 bp −$19 | doesn't fit | 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_RAYUSD | −0.1788% | 1h | 1.8284 | −0.186% | $97K | $434K | 10x | as long as short |
| gTrade (Gains Network) RAY/USD | L +0.0001% / S +0.0056% | 1h | 1.8280 | −0.206% | $2K | — | 150x | as long as short |
| Injective RAY/USDC PERP | +0.0033% | 1h | 1.6428 | −10.318% | $266 | $25 | 5.5x | as long as short |
| MEXC RAY_USDT | +0.0050% | 8h | 1.8206 | −0.611% | $12.9M | $2.5M | 100x | as long as short |
| OKX RAY-USDT-SWAP | +0.0100% | 8h | 1.8211 | −0.584% | $4.6M | $13.2M | 20x | as long as short |
| Gate RAY_USDT | +0.0100% | 4h | 1.8206 | −0.611% | $567K | $1.1M | 25x | as long as short |
| KuCoin RAYUSDTM | +0.0100% | 4h | 1.8252 | −0.360% | $2.0M | $763K | 50x | as long as short |
| Bitget RAYUSDT | +0.0100% | 4h | 1.8217 | −0.551% | $2.6M | $3.6M | 25x | as long as short |
| Variational Omni RAY | +0.0100% | 4h | 1.8288 | −0.164% | $716K | $1.0M | — | as long as short |
| Bullet RAY-USD | +0.0100% | 1h | 1.8290 | −0.154% | $107K | $44K | 10x | as long as short |
Kraken Futures PF_RAYUSD
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 | 1.8298 | −0.109% | — | $2.6M | 10x | as long as short |
| HTX RAY-USDT | +0.0100% | 4h | 1.8239 | −0.431% | $15K | $108K | 20x | as long as short |
| BloFin RAY-USDTshort | +0.0220% | 8h | 1.8262 | −0.306% | $255K | $872K | 20x | |
| Lighter RAYlong | +0.0320% | 1h | 1.8318 | long leg | $276K | $281K | 5x | |
| BingX RAY-USDT | +0.0360% | 4h | 1.8219 | −0.540% | — | $2.0M | — | as long as short |
| Orderly PERP_RAY_USDC | +0.0552% | 4h | 1.8309 | −0.049% | $258K | $245K | 10x | as long as short |
SunX RAY-USDT
HTX RAY-USDT
BingX RAY-USDT
Orderly PERP_RAY_USDC