Funding you earn now, next payment 04:00 UTC−0.0474%/8h= −51.9% APRnext payment −$2.37 per $10,000 · paid last 24h −0.024%
Price spread now: HTX against Orderly+0.162%7-day average −0.057% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.012%+$1 on $10k
+Price spread, last 3 days (all we have)−0.168%−$17 · spread now +0.162%, 7d avg −0.057%
=The price spread pays, funding is against you. HTX is 0.219% dearer against Orderly than usual: you sell high and buy low (spread +0.162% now, against its 7-day average of −0.057%): +$22 on $10k if it goes back. Holding the pair costs −$14 a day in funding at the current rate, which eats that in about 37 hours.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.012% in total (about 0.6% 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 | Orderly PERP_RAY_USDC | 1.7894 | 0.0574 | pay 0.0287% / 4h | 3h 52m | $248K | $242K | 10x |
| Short | HTX RAY-USDT | 1.7923 | 0.0100 | get 0.0050% / 4h | 3h 52m | $15K | $114K | 20x |
Orderly PERP_RAY_USDC
HTX RAY-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
HTX against Orderly. 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
- −$99.58
- Price spread: +0.162% → −0.057%
- $21.87
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee HTX: 6 bp × 2 orders
- −$12
- Net
- −$95.71
- Costs to cover
- 0.180%
- Break-even
- from the start
Slippage unknown: Orderly: no order-book sample; HTX: live order book, 19 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 HTX live order book, 19 min ago | 52.05 bp | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_RAYUSD | −0.1829% | 1h | 1.7867 | −0.149% | $94K | $434K | 10x | as long as short |
| gTrade (Gains Network) RAY/USD | L +0.0001% / S +0.0056% | 1h | 1.7916 | +0.121% | $2K | — | 150x | as long as short |
| Injective RAY/USDC PERP | +0.0033% | 1h | 1.6428 | −8.193% | $266 | $25 | 5.5x | as long as short |
| MEXC RAY_USDT | +0.0050% | 8h | 1.7884 | −0.056% | $12.7M | $2.5M | 100x | as long as short |
| Gate RAY_USDT | +0.0062% | 4h | 1.7879 | −0.084% | $557K | $1.1M | 25x | as long as short |
| OKX RAY-USDT-SWAP | +0.0100% | 8h | 1.7873 | −0.117% | $4.5M | $13.0M | 20x | as long as short |
| KuCoin RAYUSDTM | +0.0100% | 4h | 1.7886 | −0.045% | $2.0M | $762K | 50x | as long as short |
| Bitget RAYUSDT | +0.0100% | 4h | 1.7885 | −0.050% | $2.6M | $3.7M | 25x | as long as short |
| BingX RAY-USDT | +0.0100% | 4h | 1.7890 | −0.022% | — | $2.1M | — | as long as short |
| Variational Omni RAY | +0.0100% | 4h | 1.7980 | +0.478% | $704K | $1.0M | — | as long as short |
Kraken Futures PF_RAYUSD
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 | +0.137% | $105K | $44K | 10x | as long as short |
| SunX RAY-USDT | +0.0100% | 4h | 1.7922 | +0.156% | — | $2.6M | 10x | as long as short |
| HTX RAY-USDTshort | +0.0100% | 4h | 1.7923 | +0.162% | $15K | $114K | 20x | |
| Lighter RAY | +0.0112% | 1h | 1.7899 | +0.028% | $273K | $277K | 5x | as long as short |
| BloFin RAY-USDT | +0.0220% | 8h | 1.7855 | −0.218% | $254K | $855K | 20x | as long as short |
| Orderly PERP_RAY_USDClong | +0.0574% | 4h | 1.7894 | long leg | $248K | $242K | 10x |
Bullet RAY-USD
SunX RAY-USDT
Lighter RAY
BloFin RAY-USDT