Funding you earn now, next payment 08:00 UTC+0.1513%/8h= +165.7% APRpaid last 24h −0.195%
Price spread now: Kraken Futures against SunX+0.183%58s7-day average +0.109% · you sell dearer than you buy
Net, funding: paid 7d − costs−$319as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$3093.095% of the position
Funding, last 7 days−0.092%−$9 on $10k
+Price spread, last 4 days (all we have)+0.031%+$3 · spread now +0.183%, 7d avg +0.109%
=Both sides work for this trade now. Funding pays +$45 a day on $10k at the current rate, and Kraken Futures is 0.074% dearer against SunX than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.109%. Mind the row above: over the last 7 days funding on this pair cost −0.092%, so the current rate has only just turned in your favour. The two prices were read 58 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 -0.092% in total (about -4.8% 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 | SunX RAY-USDT | 1.7602 | 0.0100 | pay 0.0050% / 4h | 18m 24s | — | $2.4M | 10x |
| Short | Kraken Futures PF_RAYUSD | 1.7634 | 0.1613 | get 0.0202% / 1h | 18m 24s | $93K | $385K | 10x |
SunX RAY-USDT
Kraken Futures PF_RAYUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against SunX. 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
- $317.79
- Price spread: +0.183% → +0.109%
- $7.36
- Slippage, 4 orders
- −$291.46
- Fee SunX: 4 bp × 2 orders
- −$8
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- $15.69
- Costs to cover
- 3.095%
- Break-even
- 6.7 days
Slippage from SunX: live order book, 8 min ago; Kraken Futures: live order book, 19 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 SunX live order book, 8 min ago | 45.31 bp | 63.4 bp −$63 | doesn't fit | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 19 min ago | 51.66 bp | 91.8 bp −$92 | 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 | |
|---|---|---|---|---|---|---|---|---|
| gTrade (Gains Network) RAY/USD | L +0.0001% / S +0.0056% | 1h | 1.7594 | −0.047% | $3K | — | 150x | as long as short |
| Injective RAY/USDC PERP | +0.0033% | 1h | 1.6428 | −6.670% | $266 | $25 | 5.5x | as long as short |
| OKX RAY-USDT-SWAP | +0.0100% | 8h | 1.7607 | +0.028% | $4.2M | $12.8M | 20x | as long as short |
| Gate RAY_USDT | +0.0100% | 4h | 1.7605 | +0.017% | $549K | $1.2M | 25x | as long as short |
| KuCoin RAYUSDTM | +0.0100% | 4h | 1.7593 | −0.051% | $1.8M | $831K | 50x | as long as short |
| Bitget RAYUSDT | +0.0100% | 4h | 1.7613 | +0.062% | $2.6M | $4.0M | 25x | as long as short |
| BingX RAY-USDT | +0.0100% | 4h | 1.7607 | +0.028% | — | $2.0M | — | as long as short |
| Variational Omni RAY | +0.0100% | 4h | 1.7524 | −0.444% | $654K | $811K | — | as long as short |
| Bullet RAY-USD | +0.0100% | 1h | 1.7595 | −0.043% | $66K | $28K | 10x | as long as short |
| SunX RAY-USDTlong | +0.0100% | 4h | 1.7602 | long leg | — | $2.4M | 10x |
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 | |
|---|---|---|---|---|---|---|---|---|
| HTX RAY-USDT | +0.0100% | 4h | 1.7573 | −0.165% | $13K | $90K | 20x | as long as short |
| Lighter RAY | +0.0168% | 1h | 1.7622 | +0.114% | $229K | $334K | 5x | as long as short |
| BloFin RAY-USDT | +0.0220% | 8h | 1.7597 | −0.028% | $242K | $875K | 20x | as long as short |
| MEXC RAY_USDT | +0.0829% | 8h | 1.7607 | +0.028% | $11.7M | $2.5M | 100x | as long as short |
| Kraken Futures PF_RAYUSDshort | +0.1613% | 1h | 1.7634 | +0.183% | $93K | $385K | 10x | |
| Orderly PERP_RAY_USDC | +0.2163% | 4h | 1.7639 | +0.210% | $312K | $396K | 10x | as long as short |
HTX RAY-USDT
Lighter RAY
BloFin RAY-USDT
MEXC RAY_USDT
Orderly PERP_RAY_USDC