RAY

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0476%/8h= −52.1% APRnext payment −$2.38 per $10,000 · paid last 24h −0.024%

Price spread now: HTX against Orderly−0.054%7-day average −0.058% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Orderly Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.012%+$1 on $10k

Price spread, last 3 days (all we have)+0.067%+$7 · spread now −0.054%, 7d avg −0.058%

Together, before fees+0.078%+$8 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.058%, so right now this pair is about funding alone: −$14 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.012% in total (about 0.6% a year). A funding rate is set anew for every payment; at this rate the next one is about −$2.38 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	Orderly PERP_RAY_USDC	1.8409	0.0576	pay 0.0288% / 4h	3h 05m	$261K	$247K	10x
Short	HTX RAY-USDT	1.8399	0.0100	get 0.0050% / 4h	3h 05m	$13K	$108K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Orderly. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

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 OrderlybpFee HTXbpOrdersPrice spread, now −0.054%Rate

Funding earned: −$99.91
Price spread: −0.054% → −0.058%: $0.36
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee HTX: 6 bp × 2 orders: −$12
Net: −$117.55
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; HTX: live order book, 1 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 HTX live order book, 1 min ago	49.23 bp	doesn't fit	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	−0.1771%	1h	1.8454	+0.243%	$93K	$440K	10x	as long as short
gTrade (Gains Network) RAY/USD	L +0.0001% / S +0.0056%	1h	1.8390	−0.105%	$2K	—	150x	as long as short
Injective RAY/USDC PERP	+0.0033%	1h	1.6428	−10.761%	$266	$25	5.5x	as long as short
OKX RAY-USDT-SWAP	+0.0100%	8h	1.8384	−0.136%	$4.6M	$13.3M	20x	as long as short
Gate RAY_USDT	+0.0100%	4h	1.8391	−0.098%	$564K	$1.1M	25x	as long as short
KuCoin RAYUSDTM	+0.0100%	4h	1.8403	−0.033%	$2.0M	$770K	50x	as long as short
Bitget RAYUSDT	+0.0100%	4h	1.8394	−0.081%	$2.7M	$3.7M	25x	as long as short
BingX RAY-USDT	+0.0100%	4h	1.8393	−0.087%	—	$2.0M	—	as long as short
Variational Omni RAY	+0.0100%	4h	1.8375	−0.187%	$720K	$1.0M	—	as long as short
Bullet RAY-USD	+0.0100%	1h	1.8392	−0.092%	$69K	$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	1.8402	−0.038%	—	$2.5M	10x	as long as short
HTX RAY-USDTshort	+0.0100%	4h	1.8399	−0.054%	$13K	$108K	20x
BloFin RAY-USDT	+0.0220%	8h	1.8417	+0.043%	$258K	$879K	20x	as long as short
MEXC RAY_USDT	+0.0451%	8h	1.8395	−0.076%	$13.0M	$2.5M	100x	as long as short
Lighter RAY	+0.0488%	1h	1.8432	+0.125%	$275K	$285K	5x	as long as short
Orderly PERP_RAY_USDClong	+0.0576%	4h	1.8409	long leg	$261K	$247K	10x