Funding you earn now, next payment 08:00 UTC−0.1313%/8h= −143.8% APRnext payment −$6.56 per $10,000 · paid last 24h −0.237%
Price spread now: Variational Omni against Orderly−0.349%7-day average −0.074% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)−0.235%−$24 on $10k
+Price spread, last 4 days (all we have)+0.123%+$12 · spread now −0.349%, 7d avg −0.074%
=Together, before fees−0.112%+ Points / potential airdropVariational Omni: Active · farm board−$11 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$39 a day on $10k at the current rate, and Variational Omni is 0.275% cheaper against Orderly than usual: you would sell low and buy high (−$27 if the spread goes back to its 7-day average of −0.074%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.235% in total (about -24.5% a year). A funding rate is set anew for every payment; at this rate the next one is about −$6.56 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 | 1.7961 | 0.1413 | pay 0.0707% / 4h | 3h 51m | $322K | $400K | 10x |
| Short | Variational Omni RAY | 1.7898 | 0.0100 | get 0.0050% / 4h | 3h 51m | $692K | $868K | — |
Orderly PERP_RAY_USDC
Variational Omni RAYFunding history
latest
Range statsloading…
Price spread between the two exchanges
Variational Omni 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
- −$275.73
- Price spread: −0.349% → −0.074%
- −$27.49
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Net
- −$309.22
- Costs to cover
- 0.060%
- Break-even
- never at this rate
Slippage unknown: Orderly: no order-book sample; Variational Omni: RFQ quote, 22 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 Variational Omni RFQ quote, 22 min ago | 4.97 bp | doesn't fit | 65.0 bp −$650 | 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 | −0.2678% | 1h | 1.7923 | −0.209% | $90K | $402K | 10x | as long as short |
| gTrade (Gains Network) RAY/USD | L +0.0001% / S +0.0056% | 1h | 1.7920 | −0.227% | $1K | — | 150x | as long as short |
| Injective RAY/USDC PERP | +0.0033% | 1h | 1.6428 | −8.535% | $266 | $25 | 5.5x | as long as short |
| MEXC RAY_USDT | +0.0050% | 8h | 1.7929 | −0.178% | $12.5M | $2.4M | 100x | as long as short |
| OKX RAY-USDT-SWAP | +0.0100% | 8h | 1.7896 | −0.362% | $4.4M | $12.8M | 20x | as long as short |
| Gate RAY_USDT | +0.0100% | 4h | 1.7943 | −0.100% | $578K | $1.1M | 25x | as long as short |
| KuCoin RAYUSDTM | +0.0100% | 4h | 1.7930 | −0.173% | $1.9M | $777K | 50x | as long as short |
| Bitget RAYUSDT | +0.0100% | 4h | 1.7919 | −0.234% | $2.6M | $3.8M | 25x | as long as short |
| BingX RAY-USDT | +0.0100% | 4h | 1.7928 | −0.184% | — | $2.0M | — | as long as short |
| Variational Omni RAYshort | +0.0100% | 4h | 1.7898 | −0.349% | $692K | $868K | — |
Kraken Futures PF_RAYUSD
gTrade (Gains Network) RAY/USD
Injective RAY/USDC PERP
MEXC RAY_USDT
OKX RAY-USDT-SWAP
Gate RAY_USDT
KuCoin RAYUSDTM
Bitget RAYUSDT
BingX RAY-USDTShow all 16 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bullet RAY-USD | +0.0100% | 1h | 1.7937 | −0.134% | $67K | $66K | 10x | as long as short |
| SunX RAY-USDT | +0.0100% | 4h | 1.7932 | −0.161% | — | $2.4M | 10x | as long as short |
| HTX RAY-USDT | +0.0100% | 4h | 1.7994 | +0.184% | $13K | $91K | 20x | as long as short |
| Lighter RAY | +0.0136% | 1h | 1.7943 | −0.100% | $258K | $300K | 5x | as long as short |
| BloFin RAY-USDT | +0.0220% | 8h | 1.7969 | +0.045% | $252K | $918K | 20x | as long as short |
| Orderly PERP_RAY_USDClong | +0.1413% | 4h | 1.7961 | long leg | $322K | $400K | 10x |
Bullet RAY-USD
SunX RAY-USDT
HTX RAY-USDT
Lighter RAY
BloFin RAY-USDT