RAY

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.2781%/8h= +304.6% APRnext payment +$3.48 per $10,000 · paid last 24h +0.133%

Price spread now: Bullet against Kraken Futures−0.443%51s7-day average — · you buy dearer than you sell

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

Long on Kraken Futures Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Bullet is 0.443% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.443% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$44 on $10k: about 13 hours of funding at the current rate (+$83 a day). The two prices were read 51 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_RAYUSD	1.7900	−0.2681	get 0.0335% / 1h	19m 23s	$90K	$397K	10x
Short	Bullet RAY-USD	1.7821	0.0100	get 0.0013% / 1h	19m 23s	$67K	$66K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet against Kraken Futures. 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 Kraken FuturesbpFee BulletbpOrdersPrice spread, now −0.443%Rate

Funding earned: $584.09
Price spread: −0.443% → 0.000%: −$44.28
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Bullet: 4 bp × 2 orders: −$8
Net: $521.81
Costs to cover: 0.180%
Break-even: 0.7 days

Slippage unknown: Kraken Futures: live order book, 33 min ago; Bullet: no order-book sample. 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 Kraken Futures live order book, 33 min ago	41.72 bp	90.6 bp −$91	doesn't fit	doesn't fit	doesn't fit
Sell Bullet no order-book sample	—	—	—	—	—

Bullet: 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_RAYUSDlong	−0.2681%	1h	1.7900	long leg	$90K	$397K	10x
MEXC RAY_USDT	−0.0436%	8h	1.7817	−0.464%	$12.3M	$2.5M	100x	as long as short
gTrade (Gains Network) RAY/USD	L +0.0001% / S +0.0056%	1h	1.7820	−0.445%	$1K	—	150x	as long as short
Injective RAY/USDC PERP	+0.0033%	1h	1.6428	−8.224%	$266	$25	5.5x	as long as short
Lighter RAY	+0.0096%	1h	1.7855	−0.252%	$254K	$303K	5x	as long as short
OKX RAY-USDT-SWAP	+0.0100%	8h	1.7816	−0.470%	$4.3M	$12.7M	20x	as long as short
Gate RAY_USDT	+0.0100%	4h	1.7837	−0.353%	$579K	$1.1M	25x	as long as short
KuCoin RAYUSDTM	+0.0100%	4h	1.7824	−0.425%	$1.9M	$786K	50x	as long as short
Bitget RAYUSDT	+0.0100%	4h	1.7827	−0.409%	$2.6M	$3.8M	25x	as long as short
BingX RAY-USDT	+0.0100%	4h	1.7840	−0.336%	—	$2.0M	—	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni RAY	+0.0100%	4h	1.7857	−0.242%	$692K	$866K	—	as long as short
Bullet RAY-USDshort	+0.0100%	1h	1.7821	−0.443%	$67K	$66K	10x
SunX RAY-USDT	+0.0100%	4h	1.7871	−0.163%	—	$2.4M	10x	as long as short
HTX RAY-USDT	+0.0100%	4h	1.7874	−0.146%	$13K	$91K	20x	as long as short
BloFin RAY-USDT	+0.0220%	8h	1.7874	−0.146%	$247K	$936K	20x	as long as short
Orderly PERP_RAY_USDC	+0.1600%	4h	1.7859	−0.230%	$320K	$400K	10x	as long as short