RAY

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.1621%/8h= +177.5% APRnext payment +$2.03 per $10,000 · paid last 24h +0.163%

Price spread now: Injective against Kraken Futures−5.653%7-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 Injective

What this pair did over the last

the charts below follow

Funding, last 4 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. Injective is 5.653% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −5.653% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$565 on $10k: about 12 days of funding at the current rate (+$49 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_RAYUSD	1.7412	−0.1588	get 0.0198% / 1h	28m 47s	$85K	$398K	10x
Short	Injective RAY/USDC PERP	1.6428	0.0033	get 0.0004% / 1h	28m 47s	$266	$25	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Kraken Futures. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 InjectivebpOrdersPrice spread, now −5.653%Rate

Funding earned: $340.46
Price spread: −5.653% → 0.000%: −$565.32
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$234.88
Costs to cover: 0.100%
Break-even: 11.8 days

Slippage unknown: Kraken Futures: live order book, 19 min ago; Injective: 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, 19 min ago	79.50 bp	85.0 bp −$85	doesn't fit	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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	−0.1588%	1h	1.7412	long leg	$85K	$398K	10x
gTrade (Gains Network) RAY/USD	L +0.0001% / S +0.0056%	1h	1.7392	−0.118%	$430	—	150x	as long as short
Injective RAY/USDC PERPshort	+0.0033%	1h	1.6428	−5.653%	$266	$25	5.5x
OKX RAY-USDT-SWAP	+0.0100%	8h	1.7398	−0.082%	$4.2M	$12.9M	20x	as long as short
Gate RAY_USDT	+0.0100%	4h	1.7393	−0.111%	$542K	$1.2M	25x	as long as short
KuCoin RAYUSDTM	+0.0100%	4h	1.7392	−0.117%	$1.9M	$828K	50x	as long as short
Bitget RAYUSDT	+0.0100%	4h	1.7386	−0.151%	$2.6M	$4.1M	25x	as long as short
BingX RAY-USDT	+0.0100%	4h	1.7398	−0.082%	—	$2.0M	—	as long as short
Variational Omni RAY	+0.0100%	4h	1.7386	−0.153%	$670K	$870K	—	as long as short
Bullet RAY-USD	+0.0100%	1h	1.7412	−0.002%	$65K	$66K	10x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX RAY-USDT	+0.0100%	4h	1.7391	−0.123%	—	$2.4M	10x	as long as short
HTX RAY-USDT	+0.0100%	4h	1.7389	−0.134%	$13K	$91K	20x	as long as short
BloFin RAY-USDT	+0.0220%	8h	1.7384	−0.163%	$241K	$926K	20x	as long as short
Lighter RAY	+0.0432%	1h	1.7416	+0.021%	$245K	$309K	5x	as long as short
MEXC RAY_USDT	+0.0815%	8h	1.7401	−0.065%	$11.8M	$2.5M	100x	as long as short
Orderly PERP_RAY_USDC	+0.1897%	4h	1.7446	+0.193%	$313K	$391K	10x	as long as short