RAY

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0512%/8h= −56.1% APRnext payment −$2.56 per $10,000 · paid last 24h −0.030%

Price spread now: KuCoin against Orderly−0.056%7-day average −0.040% · you buy dearer than you sell

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

Long on Orderly Short on KuCoin

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)+0.048%+$5 · spread now −0.056%, 7d avg −0.040%

Together, before fees−0.005%$0 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.040%, so right now this pair is about funding alone: −$15 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 -0.052% in total (about -2.7% a year). A funding rate is set anew for every payment; at this rate the next one is about −$2.56 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	1.7991	0.0612	pay 0.0306% / 4h	2h 17m	$253K	$248K	10x
Short	KuCoin RAYUSDTM	1.7981	0.0100	get 0.0050% / 4h	2h 17m	$1.9M	$776K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.056%Rate

Funding earned: −$107.61
Price spread: −0.056% → −0.040%: −$1.52
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$127.12
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; KuCoin: 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 KuCoin live order book, 3 min ago	8.06 bp	46.1 bp −$46	317.4 bp −$3,174	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 15 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	1.7976	−0.083%	$1K	—	150x	as long as short
Kraken Futures PF_RAYUSD	+0.0010%	1h	1.8034	+0.239%	$89K	$447K	10x	as long as short
Injective RAY/USDC PERP	+0.0033%	1h	1.6428	−8.688%	$266	$25	5.5x	as long as short
OKX RAY-USDT-SWAP	+0.0100%	8h	1.7959	−0.178%	$4.5M	$13.0M	20x	as long as short
Gate RAY_USDT	+0.0100%	4h	1.7976	−0.083%	$559K	$1.1M	25x	as long as short
KuCoin RAYUSDTMshort	+0.0100%	4h	1.7981	−0.056%	$1.9M	$776K	50x
Bitget RAYUSDT	+0.0100%	4h	1.7974	−0.094%	$2.6M	$3.6M	25x	as long as short
Variational Omni RAY	+0.0100%	4h	1.8000	+0.051%	$705K	$985K	—	as long as short
Bullet RAY-USD	+0.0100%	1h	1.7985	−0.033%	$68K	$66K	10x	as long as short
SunX RAY-USDT	+0.0100%	4h	1.7983	−0.044%	—	$2.5M	10x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX RAY-USDT	+0.0100%	4h	1.7980	−0.061%	$13K	$101K	20x	as long as short
MEXC RAY_USDT	+0.0254%	8h	1.7977	−0.078%	$12.7M	$2.5M	100x	as long as short
Lighter RAY	+0.0272%	1h	1.8012	+0.117%	$267K	$287K	5x	as long as short
BingX RAY-USDT	+0.0450%	4h	1.7964	−0.150%	—	$2.0M	—	as long as short
Orderly PERP_RAY_USDClong	+0.0612%	4h	1.7991	long leg	$253K	$248K	10x