RAY

Alert

Funding spread now, next payment 19:00 UTC+0.0700%/8h

paid, last 24h+0.066%paid, last 7 days+0.487%to open and closeno order book

The current rate is far above what this pair has been paying: over the last 7 days it paid 0.487% in total (about 25.4% a year). A funding rate is set anew for every payment. 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	1.7730	0.0100	pay 0.0050% / 4h	1h 15m	$228K	$181K	10x
Short	Lighter RAY	1.7785	0.0800	get 0.0100% / 1h	15m 37s	$323K	$181K	5x

Funding history

latest

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Funding on every exchange

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latest

Profit calculator

Position, each leg$Hold fordaysFee OrderlybpFee LighterbpOrdersRate

Funding earned: $147
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Lighter: 0 bp × 2 orders: $0
Net: $141
Break-even: 0.3 days

Slippage unknown: Orderly: no order-book sample; Lighter: live order book, 10 min ago. Net counts fees only.

Price risk

price view

Price gap now: +0.310%
Avg gap 7d: +0.134%

A gap far from its average can cost days of funding.

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

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 Lighter live order book, 10 min ago	21.90 bp	63.3 bp −$63	128.9 bp −$1,289	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.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Kraken Futures PF_RAYUSD	−0.1030%	1h	$82K	$381K	10x	as long as short
Variational Omni RAY	−0.0089%	4h	$581K	$938K	—	as long as short
gTrade (Gains Network) RAY/USD	L +0.0001% / S +0.0056%	1h	$2K	—	150x	as long as short
Injective RAY/USDC PERP	+0.0033%	1h	$266	$25	5.5x	as long as short
OKX RAY-USDT-SWAP	+0.0040%	8h	$4.4M	$12.0M	20x	as long as short
Gate RAY_USDT	+0.0100%	4h	$606K	$901K	25x	as long as short
KuCoin RAYUSDTM	+0.0100%	4h	$2.0M	$691K	50x	as long as short
Bitget RAYUSDT	+0.0100%	4h	$2.6M	$3.0M	25x	as long as short
Bullet RAY-USD	+0.0100%	1h	$104K	$46K	10x	as long as short
Orderly PERP_RAY_USDClong	+0.0100%	4h	$228K	$181K	10x

Show all 16 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
SunX RAY-USDT	+0.0100%	4h	—	$2.6M	10x	as long as short
HTX RAY-USDT	+0.0100%	4h	$14K	$184K	20x	as long as short
BloFin RAY-USDT	+0.0124%	8h	$253K	$726K	20x	as long as short
BingX RAY-USDT	+0.0630%	4h	—	$1.9M	—	as long as short
MEXC RAY_USDT	+0.0763%	8h	$13.6M	$2.0M	100x	as long as short
Lighter RAYshort	+0.0800%	1h	$323K	$181K	5x