Funding you earn now, next payment 08:00 UTC+0.2188%/8h= +239.6% APRpaid last 24h +0.111%
Price spread now: Orderly against OKX+0.188%7-day average +0.072% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.143%+$14 on $10k
+Price spread, last 4 days (all we have)−0.195%−$19 · spread now +0.188%, 7d avg +0.072%
=Both sides work for this trade now. Funding pays +$66 a day on $10k at the current rate, and Orderly is 0.116% dearer against OKX than usual: you sell high and buy low: +$12 more if the spread goes back to its 7-day average of +0.072%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.143% in total (about 7.5% 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 | OKX RAY-USDT-SWAP | 1.7559 | 0.0100 | pay 0.0100% / 8h | 1h 02m | $4.2M | $12.8M | 20x |
| Short | Orderly PERP_RAY_USDC | 1.7592 | 0.2288 | get 0.1144% / 4h | 1h 02m | $311K | $396K | 10x |
OKX RAY-USDT-SWAP
Orderly PERP_RAY_USDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Orderly against OKX. 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
- $459.49
- Price spread: +0.188% → +0.072%
- $11.61
- Slippage, 4 orders
- no order book: not counted
- Fee OKX: 5 bp × 2 orders
- −$10
- Fee Orderly: 3 bp × 2 orders
- −$6
- Net
- $455.11
- Costs to cover
- 0.160%
- Break-even
- 0.1 days
Slippage unknown: OKX: live order book, just now; Orderly: 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 OKX live order book, just now | 1.42 bp | 31.6 bp −$32 | 221.6 bp −$2,216 | doesn't fit | doesn't fit |
| Sell Orderly no order-book sample | — | — | — | — | — |
Orderly: 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 | |
|---|---|---|---|---|---|---|---|---|
| gTrade (Gains Network) RAY/USD | L +0.0001% / S +0.0056% | 1h | 1.7554 | −0.029% | $3K | — | 150x | as long as short |
| Injective RAY/USDC PERP | +0.0033% | 1h | 1.6428 | −6.441% | $266 | $25 | 5.5x | as long as short |
| OKX RAY-USDT-SWAPlong | +0.0100% | 8h | 1.7559 | long leg | $4.2M | $12.8M | 20x | |
| Gate RAY_USDT | +0.0100% | 4h | 1.7558 | −0.006% | $549K | $1.2M | 25x | as long as short |
| KuCoin RAYUSDTM | +0.0100% | 4h | 1.7555 | −0.023% | $1.9M | $822K | 50x | as long as short |
| Bitget RAYUSDT | +0.0100% | 4h | 1.7553 | −0.034% | $2.6M | $4.0M | 25x | as long as short |
| BingX RAY-USDT | +0.0100% | 4h | 1.7554 | −0.028% | — | $2.0M | — | as long as short |
| Variational Omni RAY | +0.0100% | 4h | 1.7595 | +0.207% | $652K | $883K | — | as long as short |
| Bullet RAY-USD | +0.0100% | 1h | 1.7550 | −0.051% | $66K | $28K | 10x | as long as short |
| SunX RAY-USDT | +0.0100% | 4h | 1.7549 | −0.057% | — | $2.4M | 10x | as long as short |
gTrade (Gains Network) RAY/USD
Injective RAY/USDC PERP
Gate RAY_USDT
KuCoin RAYUSDTM
Bitget RAYUSDT
BingX RAY-USDT
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 | 1.7586 | +0.154% | $13K | $91K | 20x | as long as short |
| BloFin RAY-USDT | +0.0220% | 8h | 1.7551 | −0.046% | $240K | $877K | 20x | as long as short |
| Lighter RAY | +0.0304% | 1h | 1.7584 | +0.142% | $241K | $319K | 5x | as long as short |
| MEXC RAY_USDT | +0.0852% | 8h | 1.7562 | +0.017% | $11.8M | $2.6M | 100x | as long as short |
| Kraken Futures PF_RAYUSD | +0.1346% | 1h | 1.7616 | +0.322% | $86K | $376K | 10x | as long as short |
| Orderly PERP_RAY_USDCshort | +0.2288% | 4h | 1.7592 | +0.188% | $311K | $396K | 10x |
HTX RAY-USDT
BloFin RAY-USDT
Lighter RAY
MEXC RAY_USDT
Kraken Futures PF_RAYUSD