RAY

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.2028%/8h= −222.1% APRnext payment −$10.14 per $10,000 · paid last 24h −0.188%

Price spread now: Gate against Orderly−0.079%7-day average −0.061% · you buy dearer than you sell

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

Long on Orderly Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.264%−$26 on $10k

Price spread, last 4 days (all we have)−0.170%−$17 · spread now −0.079%, 7d avg −0.061%

Together, before fees−0.434%−$43 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.061%, so right now this pair is about funding alone: −$61 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.264% in total (about -13.7% a year). A funding rate is set anew for every payment; at this rate the next one is about −$10.14 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	Orderly PERP_RAY_USDC	1.7821	0.2128	pay 0.1064% / 4h	3h 48m	$315K	$386K	10x
Short	Gate RAY_USDT	1.7807	0.0100	get 0.0050% / 4h	3h 48m	$555K	$1.1M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Orderly. 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 OrderlybpFee GatebpOrdersPrice spread, now −0.079%Rate

Funding earned: −$425.91
Price spread: −0.079% → −0.061%: −$1.79
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$448.7
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Gate: live order book, 3 min ago. 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 Orderly no order-book sample	—	—	—	—	—
Sell Gate live order book, 3 min ago	5.93 bp	100.2 bp −$100	doesn't fit	doesn't fit	doesn't fit

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
gTrade (Gains Network) RAY/USD	L +0.0001% / S +0.0056%	1h	1.7769	−0.292%	$3K	—	150x	as long as short
Injective RAY/USDC PERP	+0.0033%	1h	1.6428	−7.817%	$266	$25	5.5x	as long as short
OKX RAY-USDT-SWAP	+0.0100%	8h	1.7799	−0.123%	$4.2M	$12.8M	20x	as long as short
Gate RAY_USDTshort	+0.0100%	4h	1.7807	−0.079%	$555K	$1.1M	25x
KuCoin RAYUSDTM	+0.0100%	4h	1.7796	−0.140%	$1.8M	$827K	50x	as long as short
Bitget RAYUSDT	+0.0100%	4h	1.7800	−0.118%	$2.6M	$3.9M	25x	as long as short
Variational Omni RAY	+0.0100%	4h	1.7717	−0.583%	$660K	$806K	—	as long as short
SunX RAY-USDT	+0.0100%	4h	1.7759	−0.348%	—	$2.4M	10x	as long as short
HTX RAY-USDT	+0.0100%	4h	1.7704	−0.657%	$13K	$89K	20x	as long as short
BloFin RAY-USDT	+0.0108%	8h	1.7777	−0.247%	$241K	$883K	20x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bullet RAY-USD	+0.0145%	1h	1.7793	−0.157%	$67K	$28K	10x	as long as short
Lighter RAY	+0.0536%	1h	1.7825	+0.022%	$233K	$335K	5x	as long as short
BingX RAY-USDT	+0.0780%	4h	1.7798	−0.129%	—	$2.0M	—	as long as short
MEXC RAY_USDT	+0.0854%	8h	1.7811	−0.056%	$11.8M	$2.5M	100x	as long as short
Kraken Futures PF_RAYUSD	+0.1950%	1h	1.7821	−0.002%	$94K	$381K	10x	as long as short
Orderly PERP_RAY_USDClong	+0.2128%	4h	1.7821	long leg	$315K	$386K	10x