Funding you earn now, next payment 06:00 UTC−0.2089%/8h= −228.8% APRnext payment −$2.61 per $10,000 · paid last 24h −0.307%
Price spread now: Kraken Futures against Lighter−0.037%7-day average −0.064% · you buy dearer than you sell
Net, funding: paid 7d − costs−$261as in the Funding arb table
Net, price: spread back to 7d avg − costs−$199as in the Price arb table
costs, in and out, $10k−$2012.013% of the position
Funding, last 7 days−0.592%−$59 on $10k
+Price spread, last 4 days (all we have)−0.121%−$12 · spread now −0.037%, 7d avg −0.064%
=Together, before fees−0.713%+ Points / potential airdropLighter: Season 3 · farm board−$71 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Kraken Futures is 0.027% dearer against Lighter than usual: you sell high and buy low (spread −0.037% now, against its 7-day average of −0.064%): +$3 on $10k if it goes back. Holding the pair costs −$63 a day in funding at the current rate, which eats that in about 1 hour. At the pace of the last 7 days (−0.592% in total) that is about 8 hours.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.592% in total (about -30.9% a year). A funding rate is set anew for every payment; at this rate the next one is about −$2.61 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 | Lighter RAY | 1.7537 | 0.0512 | pay 0.0064% / 1h | 48m 46s | $248K | $306K | 5x |
| Short | Kraken Futures PF_RAYUSD | 1.7531 | −0.1577 | pay 0.0197% / 1h | 48m 46s | $86K | $393K | 10x |
Lighter RAY
Kraken Futures PF_RAYUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against Lighter. 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
- −$438.73
- Price spread: −0.037% → −0.064%
- $2.75
- Slippage, 4 orders
- −$191.28
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$637.27
- Costs to cover
- 2.013%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 47 min ago; Kraken Futures: live order book, 64 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 Lighter live order book, 47 min ago | 4.47 bp | 15.0 bp −$15 | 105.2 bp −$1,052 | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 64 min ago | 41.72 bp | 64.6 bp −$65 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_RAYUSDshort | −0.1577% | 1h | 1.7531 | −0.037% | $86K | $393K | 10x | |
| gTrade (Gains Network) RAY/USD | L +0.0001% / S +0.0056% | 1h | 1.7557 | +0.113% | $434 | — | 150x | as long as short |
| Injective RAY/USDC PERP | +0.0033% | 1h | 1.6428 | −6.324% | $266 | $25 | 5.5x | as long as short |
| OKX RAY-USDT-SWAP | +0.0100% | 8h | 1.7553 | +0.091% | $4.2M | $12.7M | 20x | as long as short |
| Gate RAY_USDT | +0.0100% | 4h | 1.7565 | +0.160% | $549K | $1.2M | 25x | as long as short |
| KuCoin RAYUSDTM | +0.0100% | 4h | 1.7555 | +0.103% | $1.9M | $811K | 50x | as long as short |
| Bitget RAYUSDT | +0.0100% | 4h | 1.7550 | +0.074% | $2.6M | $4.0M | 25x | as long as short |
| Variational Omni RAY | +0.0100% | 4h | 1.7596 | +0.339% | $680K | $868K | — | as long as short |
| Bullet RAY-USD | +0.0100% | 1h | 1.7564 | +0.154% | $66K | $66K | 10x | as long as short |
| SunX RAY-USDT | +0.0100% | 4h | 1.7563 | +0.148% | — | $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 16 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX RAY-USDT | +0.0100% | 4h | 1.7575 | +0.217% | $13K | $91K | 20x | as long as short |
| BloFin RAY-USDT | +0.0220% | 8h | 1.7557 | +0.114% | $247K | $923K | 20x | as long as short |
| BingX RAY-USDT | +0.0422% | 4h | 1.7565 | +0.160% | — | $2.0M | — | as long as short |
| Lighter RAYlong | +0.0512% | 1h | 1.7537 | long leg | $248K | $306K | 5x | |
| MEXC RAY_USDT | +0.0614% | 8h | 1.7548 | +0.063% | $12.0M | $2.5M | 100x | as long as short |
| Orderly PERP_RAY_USDC | +0.1754% | 4h | 1.7599 | +0.354% | $315K | $391K | 10x | as long as short |
HTX RAY-USDT
BloFin RAY-USDT
BingX RAY-USDT
MEXC RAY_USDT
Orderly PERP_RAY_USDC