Funding you earn now, next payment 00:00 UTC−0.0384%/8h= −42.1% APRpaid last 24h −0.002%
Price spread now: BloFin against Orderly+0.028%52s7-day average −0.073% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.106%+$11 on $10k
+Price spread, last 3 days (all we have)−0.055%−$6 · spread now +0.028%, 7d avg −0.073%
=The price spread pays, funding is against you. BloFin is 0.101% dearer against Orderly than usual: you sell high and buy low (spread +0.028% now, against its 7-day average of −0.073%): +$10 on $10k if it goes back. Holding the pair costs −$12 a day in funding at the current rate, which eats that in about 21 hours. Mind the row above: over the last 7 days funding on this pair paid +0.106%, so the current rate has only just turned against you. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.106% in total (about 5.5% 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 | Orderly PERP_RAY_USDC | 1.8072 | 0.0604 | pay 0.0302% / 4h | 23m 42s | $250K | $247K | 10x |
| Short | BloFin RAY-USDT | 1.8077 | 0.0220 | get 0.0220% / 8h | 23m 42s | $257K | $853K | 20x |
Orderly PERP_RAY_USDC
BloFin RAY-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BloFin against Orderly. 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
- −$80.67
- Price spread: +0.028% → −0.073%
- $10.1
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee BloFin: 6 bp × 2 orders
- −$12
- Net
- −$88.57
- Costs to cover
- 0.180%
- Break-even
- never at this rate
Slippage unknown: Orderly: no order-book sample; BloFin: live order book, 53 min ago. 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 Orderly no order-book sample | — | — | — | — | — |
| Sell BloFin live order book, 53 min ago | 0.27 bp | 22.5 bp −$23 | doesn't fit | doesn't fit | doesn't fit |
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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_RAYUSD | −0.2438% | 1h | 1.7995 | −0.424% | $95K | $439K | 10x | as long as short |
| gTrade (Gains Network) RAY/USD | L +0.0001% / S +0.0056% | 1h | 1.8056 | −0.090% | $2K | — | 150x | as long as short |
| Injective RAY/USDC PERP | +0.0033% | 1h | 1.6428 | −9.097% | $266 | $25 | 5.5x | as long as short |
| OKX RAY-USDT-SWAP | +0.0100% | 8h | 1.8070 | −0.011% | $4.5M | $13.1M | 20x | as long as short |
| Gate RAY_USDT | +0.0100% | 4h | 1.8055 | −0.094% | $562K | $1.1M | 25x | as long as short |
| KuCoin RAYUSDTM | +0.0100% | 4h | 1.8048 | −0.133% | $2.0M | $751K | 50x | as long as short |
| Bitget RAYUSDT | +0.0100% | 4h | 1.8073 | +0.006% | $2.6M | $3.6M | 25x | as long as short |
| BingX RAY-USDT | +0.0100% | 4h | 1.8071 | −0.006% | — | $2.0M | — | as long as short |
| Variational Omni RAY | +0.0100% | 4h | 1.8096 | +0.132% | $709K | $1.0M | — | as long as short |
| Bullet RAY-USD | +0.0100% | 1h | 1.8059 | −0.073% | $106K | $44K | 10x | as long as short |
Kraken Futures PF_RAYUSD
gTrade (Gains Network) RAY/USD
Injective RAY/USDC PERP
OKX RAY-USDT-SWAP
Gate RAY_USDT
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 | 1.8055 | −0.094% | — | $2.6M | 10x | as long as short |
| HTX RAY-USDT | +0.0100% | 4h | 1.8066 | −0.033% | $15K | $121K | 20x | as long as short |
| MEXC RAY_USDT | +0.0185% | 8h | 1.8074 | +0.011% | $12.9M | $2.5M | 100x | as long as short |
| BloFin RAY-USDTshort | +0.0220% | 8h | 1.8077 | +0.028% | $257K | $853K | 20x | |
| Lighter RAY | +0.0376% | 1h | 1.8084 | +0.066% | $286K | $259K | 5x | as long as short |
| Orderly PERP_RAY_USDClong | +0.0604% | 4h | 1.8072 | long leg | $250K | $247K | 10x |
SunX RAY-USDT
HTX RAY-USDT
MEXC RAY_USDT
Lighter RAY