RAY

Alert

Funding spread now, next payment 16:00 UTC+0.0999%/8h

next payment, per $10,000+$4.99paid, last 24h+0.136%paid, last 3 days+0.197%to open and closeno order book

Long on Variational Omni Short on Orderly

The current rate is far above what this pair has been paying: over the last 3 days it paid 0.197% in total (about 24.6% a year). A funding rate is set anew for every payment; at this rate the next one is about +$4.99 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	Variational Omni RAY	1.7522	−0.0899	get 0.0449% / 4h	1h 50m	$467K	$729K	—
Short	Orderly PERP_RAY_USDC	1.7535	0.0100	get 0.0050% / 4h	1h 50m	$225K	$132K	10x

Funding history

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee Variational OmnibpFee OrderlybpOrdersRate

Funding earned: $209.73
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Orderly: 3 bp × 2 orders: −$6
Net: $203.73
Break-even: 0.2 days

Slippage unknown: Variational Omni: RFQ quote, 5 min ago; Orderly: no order-book sample. Net counts fees only.

Price risk

price view

Price gap now: +0.077%
Avg gap 7d: +0.056%

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 Variational Omni RFQ quote, 5 min ago	5.00 bp	doesn't fit	84.2 bp −$842	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

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
Variational Omni RAYlong	−0.0899%	4h	$467K	$729K	—
Kraken Futures PF_RAYUSD	−0.0788%	1h	$83K	$338K	10x	as long as short
MEXC RAY_USDT	−0.0732%	8h	$14.1M	$2.0M	100x	as long as short
OKX RAY-USDT-SWAP	−0.0034%	8h	$4.4M	$10.9M	20x	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
BloFin RAY-USDT	+0.0084%	8h	$253K	$581K	20x	as long as short
Gate RAY_USDT	+0.0100%	4h	$582K	$746K	25x	as long as short
KuCoin RAYUSDTM	+0.0100%	4h	$2.0M	$495K	50x	as long as short
Bitget RAYUSDT	+0.0100%	4h	$2.6M	$2.7M	25x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
BingX RAY-USDT	+0.0100%	4h	—	$2.2M	—	as long as short
Bullet RAY-USD	+0.0100%	1h	$103K	$46K	10x	as long as short
Orderly PERP_RAY_USDCshort	+0.0100%	4h	$225K	$132K	10x
SunX RAY-USDT	+0.0100%	4h	—	$2.3M	10x	as long as short
HTX RAY-USDT	+0.0100%	4h	$15K	$251K	20x	as long as short
Lighter RAY	+0.0912%	1h	$322K	$134K	5x	as long as short