Funding you earn now, next payment 09:00 UTC−0.1823%/8h= −199.7% APRpaid last 24h +0.175%
Price spread now: Gate against Kraken Futures−0.438%7-day average −0.130% · you buy dearer than you sell
Net, funding: paid 7d − costs−$361as in the Funding arb table
Net, price: spread back to 7d avg − costs−$388as in the Price arb table
costs, in and out, $10k−$3573.573% of the position
Funding, last 7 days−0.040%−$4 on $10k
+Price spread, last 4 days (all we have)−0.903%−$90 · spread now −0.438%, 7d avg −0.130%
=Both sides work against this trade now: funding costs −$55 a day on $10k at the current rate, and Gate is 0.308% cheaper against Kraken Futures than usual: you would sell low and buy high (−$31 if the spread goes back to its 7-day average of −0.130%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.040% in total (about -2.1% 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 | Kraken Futures PF_RAYUSD | 1.8069 | 0.1923 | pay 0.0240% / 1h | 59m 53s | $111K | $398K | 10x |
| Short | Gate RAY_USDT | 1.7990 | 0.0100 | get 0.0050% / 4h | 2h 59m | $576K | $1.1M | 25x |
Kraken Futures PF_RAYUSD
Gate RAY_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Gate 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$382.93
- Price spread: −0.438% → −0.130%
- −$30.8
- Slippage, 4 orders
- −$332.35
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Net
- −$771.08
- Costs to cover
- 3.573%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 33 min ago; Gate: live order book, 2 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 Kraken Futures live order book, 33 min ago | 50.58 bp | 84.2 bp −$84 | doesn't fit | doesn't fit | doesn't fit |
| Sell Gate live order book, 2 min ago | 5.82 bp | 91.9 bp −$92 | doesn't fit | doesn't fit | doesn't fit |
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 | |
|---|---|---|---|---|---|---|---|---|
| gTrade (Gains Network) RAY/USD | L +0.0001% / S +0.0056% | 1h | 1.7986 | −0.461% | $1K | — | 150x | as long as short |
| Injective RAY/USDC PERP | +0.0033% | 1h | 1.6428 | −9.083% | $266 | $25 | 5.5x | as long as short |
| MEXC RAY_USDT | +0.0050% | 8h | 1.7987 | −0.455% | $11.7M | $2.6M | 100x | as long as short |
| OKX RAY-USDT-SWAP | +0.0100% | 8h | 1.7965 | −0.577% | $4.2M | $12.7M | 20x | as long as short |
| Gate RAY_USDTshort | +0.0100% | 4h | 1.7990 | −0.438% | $576K | $1.1M | 25x | |
| KuCoin RAYUSDTM | +0.0100% | 4h | 1.7986 | −0.460% | $1.8M | $837K | 50x | as long as short |
| Bitget RAYUSDT | +0.0100% | 4h | 1.8000 | −0.383% | $2.6M | $3.7M | 25x | as long as short |
| BingX RAY-USDT | +0.0100% | 4h | 1.7984 | −0.471% | — | $2.0M | — | as long as short |
| Variational Omni RAY | +0.0100% | 4h | 1.7993 | −0.421% | $639K | $792K | — | as long as short |
| Bullet RAY-USD | +0.0100% | 1h | 1.7990 | −0.438% | $68K | $26K | 10x | as long as short |
gTrade (Gains Network) RAY/USD
Injective RAY/USDC PERP
MEXC RAY_USDT
OKX RAY-USDT-SWAP
KuCoin RAYUSDTM
Bitget RAYUSDT
BingX RAY-USDT
Variational Omni RAY
Bullet RAY-USDShow all 16 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX RAY-USDT | +0.0100% | 4h | 1.7991 | −0.433% | — | $2.1M | 10x | as long as short |
| HTX RAY-USDT | +0.0100% | 4h | 1.7997 | −0.399% | $13K | $84K | 20x | as long as short |
| BloFin RAY-USDT | +0.0108% | 8h | 1.8018 | −0.283% | $244K | $876K | 20x | as long as short |
| Lighter RAY | +0.0320% | 1h | 1.8019 | −0.278% | $232K | $340K | 5x | as long as short |
| Kraken Futures PF_RAYUSDlong | +0.1923% | 1h | 1.8069 | long leg | $111K | $398K | 10x | |
| Orderly PERP_RAY_USDC | +0.2149% | 4h | 1.8029 | −0.222% | $318K | $378K | 10x | as long as short |
SunX RAY-USDT
HTX RAY-USDT
BloFin RAY-USDT
Lighter RAY
Orderly PERP_RAY_USDC