Funding you earn now, next payment 01:00 UTC−0.1941%/8h= −212.6% APRnext payment −$2.43 per $10,000 · paid last 24h −0.262%
Price spread now: Kraken Futures against Lighter−0.177%7-day average −0.047% · you buy dearer than you sell
Net, funding: paid 7d − costs−$344as in the Funding arb table
Net, price: spread back to 7d avg − costs−$305as in the Price arb table
costs, in and out, $10k−$2922.920% of the position
Funding, last 7 days−0.524%−$52 on $10k
+Price spread, last 3 days (all we have)+0.019%+$2 · spread now −0.177%, 7d avg −0.047%
=Together, before fees−0.505%+ Points / potential airdropLighter: Season 3 · farm board−$51 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$58 a day on $10k at the current rate, and Kraken Futures is 0.129% cheaper against Lighter than usual: you would sell low and buy high (−$13 if the spread goes back to its 7-day average of −0.047%). Swap the legs.
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 −$2.43 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 | Lighter RAY | 1.7899 | 0.0112 | pay 0.0014% / 1h | 52m 10s | $273K | $277K | 5x |
| Short | Kraken Futures PF_RAYUSD | 1.7867 | −0.1829 | pay 0.0229% / 1h | 52m 10s | $94K | $434K | 10x |
Lighter RAY
Kraken Futures PF_RAYUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures 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
- −$407.7
- Price spread: −0.177% → −0.047%
- −$12.93
- Slippage, 4 orders
- −$281.99
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$712.62
- Costs to cover
- 2.920%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 3 min ago; Kraken Futures: live order book, 21 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, 3 min ago | 2.79 bp | 19.5 bp −$20 | 118.6 bp −$1,186 | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 21 min ago | 67.29 bp | 139.5 bp −$140 | 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_RAYUSDshort | −0.1829% | 1h | 1.7867 | −0.177% | $94K | $434K | 10x | |
| gTrade (Gains Network) RAY/USD | L +0.0001% / S +0.0056% | 1h | 1.7916 | +0.093% | $2K | — | 150x | as long as short |
| Injective RAY/USDC PERP | +0.0033% | 1h | 1.6428 | −8.218% | $266 | $25 | 5.5x | as long as short |
| MEXC RAY_USDT | +0.0050% | 8h | 1.7884 | −0.084% | $12.7M | $2.5M | 100x | as long as short |
| Gate RAY_USDT | +0.0062% | 4h | 1.7879 | −0.112% | $557K | $1.1M | 25x | as long as short |
| OKX RAY-USDT-SWAP | +0.0100% | 8h | 1.7873 | −0.145% | $4.5M | $13.0M | 20x | as long as short |
| KuCoin RAYUSDTM | +0.0100% | 4h | 1.7886 | −0.073% | $2.0M | $762K | 50x | as long as short |
| Bitget RAYUSDT | +0.0100% | 4h | 1.7885 | −0.078% | $2.6M | $3.7M | 25x | as long as short |
| BingX RAY-USDT | +0.0100% | 4h | 1.7890 | −0.050% | — | $2.1M | — | as long as short |
| Variational Omni RAY | +0.0100% | 4h | 1.7980 | +0.450% | $704K | $1.0M | — | as long as short |
gTrade (Gains Network) RAY/USD
Injective RAY/USDC PERP
MEXC RAY_USDT
Gate RAY_USDT
OKX RAY-USDT-SWAP
KuCoin RAYUSDTM
Bitget RAYUSDT
BingX RAY-USDT
Variational Omni RAYShow all 16 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bullet RAY-USD | +0.0100% | 1h | 1.7918 | +0.109% | $105K | $44K | 10x | as long as short |
| SunX RAY-USDT | +0.0100% | 4h | 1.7922 | +0.128% | — | $2.6M | 10x | as long as short |
| HTX RAY-USDT | +0.0100% | 4h | 1.7923 | +0.134% | $15K | $114K | 20x | as long as short |
| Lighter RAYlong | +0.0112% | 1h | 1.7899 | long leg | $273K | $277K | 5x | |
| BloFin RAY-USDT | +0.0220% | 8h | 1.7855 | −0.246% | $254K | $855K | 20x | as long as short |
| Orderly PERP_RAY_USDC | +0.0574% | 4h | 1.7894 | −0.028% | $248K | $242K | 10x | as long as short |
Bullet RAY-USD
SunX RAY-USDT
HTX RAY-USDT
BloFin RAY-USDT
Orderly PERP_RAY_USDC