Funding you earn now, next payment 03:00 UTC+0.0683%/8h= +74.8% APRpaid last 24h −0.195%
Price spread now: Kraken Futures against BingX+0.098%7-day average +0.124% · you sell dearer than you buy
Net, funding: paid 7d − costs−$217as in the Funding arb table
Net, price: spread back to 7d avg − costs−$193as in the Price arb table
costs, in and out, $10k−$1911.907% of the position
Funding, last 7 days−0.263%−$26 on $10k
+Price spread, last 3 days (all we have)+0.044%+$4 · spread now +0.098%, 7d avg +0.124%
=Funding pays, the price is against you. Kraken Futures is 0.026% cheaper against BingX than usual: you would sell low and buy high (spread +0.098% now, against its 7-day average of +0.124%). If the spread goes back, that is −$3 on $10k: about 3 hours of funding at the current rate (+$20 a day). Mind the row above: over the last 7 days funding on this pair cost −0.263%, so the current rate has only just turned in your favour.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.263% in total (about -13.7% 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 | BingX RAY-USDT | 1.7763 | 0.0100 | pay 0.0050% / 4h | 1h 57m | — | $2.0M | — |
| Short | Kraken Futures PF_RAYUSD | 1.7780 | 0.0783 | get 0.0098% / 1h | 57m 39s | $89K | $450K | 10x |
BingX RAY-USDT
Kraken Futures PF_RAYUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against BingX. 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
- $143.45
- Price spread: +0.098% → +0.124%
- −$2.65
- Slippage, 4 orders
- −$170.69
- Fee BingX: 5 bp × 2 orders
- −$10
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$49.88
- Costs to cover
- 1.907%
- Break-even
- 9.4 days
Slippage from BingX: live order book, 5 min ago; Kraken Futures: live order book, 5 min ago.
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 BingX live order book, 5 min ago | 2.24 bp | 15.1 bp −$15 | 39.8 bp −$398 | 302.5 bp −$30.3K | 679.8 bp −$339.9K |
| Sell Kraken Futures live order book, 5 min ago | 36.15 bp | 76.0 bp −$76 | doesn't fit | doesn't fit | doesn't fit |
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 | 1.7796 | +0.185% | $1K | — | 150x | as long as short |
| Injective RAY/USDC PERP | +0.0033% | 1h | 1.6428 | −7.516% | $266 | $25 | 5.5x | as long as short |
| OKX RAY-USDT-SWAP | +0.0100% | 8h | 1.7750 | −0.073% | $4.4M | $12.7M | 20x | as long as short |
| Gate RAY_USDT | +0.0100% | 4h | 1.7770 | +0.039% | $556K | $1.1M | 25x | as long as short |
| KuCoin RAYUSDTM | +0.0100% | 4h | 1.7757 | −0.034% | $1.9M | $778K | 50x | as long as short |
| Bitget RAYUSDT | +0.0100% | 4h | 1.7752 | −0.062% | $2.5M | $3.7M | 25x | as long as short |
| BingX RAY-USDTlong | +0.0100% | 4h | 1.7763 | long leg | — | $2.0M | — | |
| Variational Omni RAY | +0.0100% | 4h | 1.7823 | +0.337% | $697K | $985K | — | as long as short |
| Bullet RAY-USD | +0.0100% | 1h | 1.7804 | +0.232% | $67K | $66K | 10x | as long as short |
| SunX RAY-USDT | +0.0100% | 4h | 1.7817 | +0.304% | — | $2.4M | 10x | as long as short |
gTrade (Gains Network) RAY/USD
Injective RAY/USDC PERP
OKX RAY-USDT-SWAP
Gate RAY_USDT
KuCoin RAYUSDTM
Bitget RAYUSDT
Variational Omni RAY
Bullet RAY-USD
SunX RAY-USDTShow all 15 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX RAY-USDT | +0.0100% | 4h | 1.7796 | +0.186% | $13K | $98K | 20x | as long as short |
| Lighter RAY | +0.0176% | 1h | 1.7784 | +0.118% | $262K | $283K | 5x | as long as short |
| MEXC RAY_USDT | +0.0265% | 8h | 1.7753 | −0.056% | $12.5M | $2.4M | 100x | as long as short |
| Orderly PERP_RAY_USDC | +0.0586% | 4h | 1.7807 | +0.248% | $217K | $285K | 10x | as long as short |
| Kraken Futures PF_RAYUSDshort | +0.0783% | 1h | 1.7780 | +0.098% | $89K | $450K | 10x |
HTX RAY-USDT
Lighter RAY
MEXC RAY_USDT
Orderly PERP_RAY_USDC