RiverNorth Opportunities Fund (RIV) 424B5 2 Apr 24 Prospectus supplement for primary offering Financial data

N-2

N-2 - USD ($)				3 Months Ended
		Apr. 02, 2024	Mar. 20, 2024	Jan. 31, 2024	Oct. 31, 2023	Jul. 31, 2023	Apr. 30, 2023	Oct. 31, 2022	Jul. 31, 2022	Apr. 30, 2022	Jan. 31, 2022	Oct. 31, 2021	Jul. 31, 2021	Apr. 30, 2021	Jan. 31, 2021	Oct. 31, 2020	Jul. 31, 2020	Apr. 30, 2020	Jan. 31, 2020
Cover [Abstract]
Entity Central Index Key		0001501072
Amendment Flag		false
Document Type		424B5
Entity Registrant Name		RiverNorth Opportunities Fund, Inc.
Fee Table [Abstract]
Shareholder Transaction Expenses [Table Text Block]		Stockholder Transaction Expenses As a Percentage of Offering Price Sales Load (1) 1.00% Expenses Borne by Common Stockholders of the Fund (1) 0.08 Dividend Reinvestment Plan Fees None (2) (1) Represents the estimated commission and offering costs with respect to the Common Shares being sold under this Prospectus Supplement and the accompanying Prospectus. There is no guarantee that there will be any sales of Common Shares under this Prospectus Supplement and the accompanying Prospectus. Actual sales of Common Shares under this Prospectus Supplement and the accompanying Prospectus, if any, may be less than as set forth under “Capitalization” below. In addition, the price per Common Share of any such sale may be greater or less than the price set forth under “Capitalization” below, depending on market price of the Common Shares at the time of any such sale. (2) There will be no brokerage charges with respect to Common Shares issued directly by the Fund under the dividend reinvestment plan. You will pay brokerage charges in connection with open market purchases or if you direct the plan agent to sell your Common Shares held in a dividend reinvestment account.
Other Transaction Expenses [Abstract]
Annual Expenses [Table Text Block]		Annual Expenses As a Percentage of Net Assets Attributable to Common Shares Management Fee (3) 1.79 Dividend and Interest Expense on Short Sales (4) 0.38 Interest Expense on Borrowings (4) 0.00 Dividends on Preferred Shares (5) 2.27 Other Expenses (4) 0.09 Acquired Fund Fees and Expenses (6) 1.25 Total Annual Expenses 5.78 (3) The management fee paid by the Fund to the Adviser is essentially an all-in fee structure (the “unified management fee”), including the fee paid to the Adviser for advisory, supervisory, administrative, shareholder servicing and other services. However, the Fund (and not the Adviser) will be responsible for certain additional fees and expenses, which are reflected in the table above, that are not covered by the unified management fee. The unified management fee is charged as a percentage of the Fund’s average daily Managed Assets, as opposed to net assets. If leverage is used, Managed Assets will be greater in amount than net assets, because Managed Assets includes borrowings for investment purposes. The management fee of 1.30% of the Fund’s Managed Assets represents 1.79% of net assets attributable to Common Shares. The management fee paid by the Fund to the Adviser is essentially an all-in fee structure (the “unified management fee”), including the fee paid to the Adviser for advisory, supervisory, administrative, shareholder servicing and other services. However, the Fund (and not the Adviser) will be responsible for certain additional fees and expenses, which are reflected in the table above, that are not covered by the unified management fee. The unified management fee is charged as a percentage of the Fund’s average daily Managed Assets, as opposed to net assets. If leverage is used, Managed Assets will be greater in amount than net assets, because Managed Assets includes borrowings for investment purposes. The management fee of 1.30% of the Fund’s Managed Assets represents 1.79% of net assets attributable to Common Shares assuming the use of leverage in an amount of 27% of the Fund’s Managed Assets as of December 31, 2023. (4) Other Expenses, Interest Expense on Borrowings and Dividend and Interest Expense on Short Sales are estimated based on the Fund’s Annual Report dated July 31, 2023. (5) Dividends on Preferred Shares represent the estimated dividend expense adjusted to assume (i) 3,910,000 shares of 6.00% Series A Cumulative Perpetual Preferred Stock with a liquidation preference of $97,750,000 was outstanding for the entire 12 months of operations after July 31, 2023. (6) The “Acquired Fund Fees and Expenses” disclosed above are based on the expense ratios for the most recent fiscal year of the Underlying Funds and SPACs in which the Fund anticipates investing, which may change substantially over time and, therefore, significantly affect Acquired Fund Fees and Expenses. These amounts are based on the total expense ratio disclosed in each Underlying Fund’s most recent stockholder report. Some of the Underlying Funds and SPACs in which the Fund intends to invest charge incentive fees based on the Underlying Funds’ or SPACs’ performance. The 1.25% shown as Acquired Fund Fees and Expenses reflects estimated operating expenses of the Underlying Funds or SPACs and transaction-related fees. Certain Underlying Funds or SPACs in which the Fund intends to invest generally charge a management fee of 1.00% to 2.00%, which are included in “Acquired Fund Fees and Expenses,” as applicable. The Acquired Fund Fees and Expenses disclosed above, however, do not reflect any performance-based fees or allocations paid by the Underlying Funds and SPACs that are calculated solely on the realization and/or distribution of gains, or on the sum of such gains and unrealized appreciation of assets distributed in-kind, as such fees and allocations for a particular period may be unrelated to the cost of investing in the Underlying Funds and SPACs. Acquired Fund Fees and Expenses are borne indirectly by the Fund, but they will not be reflected in the Fund’s financial statements; and the information presented in the table will differ from that presented in the Fund’s financial highlights.
Other Annual Expenses [Abstract]
Expense Example [Table Text Block]		Example (7) The purpose of the following table is to help a holder of Common Shares understand the fees and expenses that such holder would bear directly or indirectly. The following example illustrates the expenses that you would pay on a $1,000 investment in Common Shares, assuming (1) payment in year 1 of a commission of 1.00% on the investment and estimated offering costs of $148,300, (2) “Total annual expenses” of 5.78% of its net assets in years 1 through 10 and (2) a 5% annual return. 1 year 3 years 5 years 10 years Total Expenses Incurred $ 68 $ 180 $ 291 $ 560 (7) The example should not be considered a representation of future expenses and includes the expenses of the offering. The example assumes that the estimated “Other Expenses” set forth in the table are accurate and that all dividends and distributions are reinvested at the Common Share NAV and that the Fund is engaged in leverage of 27% of Managed Assets, assuming interest and fees on leverage of 6.00%. Actual expenses may be greater or less than those assumed. Moreover, the Fund’s actual rate of return may be greater or less than the hypothetical 5% annual return shown in the example. The example should not be considered a representation of future expenses. Actual expenses may be greater or less than those assumed.
Purpose of Fee Table , Note [Text Block]		The following table is intended to assist investors in understanding the fees and expenses (annualized) that an investor in Common Shares would bear, directly or indirectly.
Other Expenses, Note [Text Block]		Other Expenses, Interest Expense on Borrowings and Dividend and Interest Expense on Short Sales are estimated based on the Fund’s Annual Report dated July 31, 2023.
Management Fee not based on Net Assets, Note [Text Block]		The management fee paid by the Fund to the Adviser is essentially an all-in fee structure (the “unified management fee”), including the fee paid to the Adviser for advisory, supervisory, administrative, shareholder servicing and other services. However, the Fund (and not the Adviser) will be responsible for certain additional fees and expenses, which are reflected in the table above, that are not covered by the unified management fee. The unified management fee is charged as a percentage of the Fund’s average daily Managed Assets, as opposed to net assets. If leverage is used, Managed Assets will be greater in amount than net assets, because Managed Assets includes borrowings for investment purposes. The management fee of 1.30% of the Fund’s Managed Assets represents 1.79% of net assets attributable to Common Shares. The management fee paid by the Fund to the Adviser is essentially an all-in fee structure (the “unified management fee”), including the fee paid to the Adviser for advisory, supervisory, administrative, shareholder servicing and other services. However, the Fund (and not the Adviser) will be responsible for certain additional fees and expenses, which are reflected in the table above, that are not covered by the unified management fee. The unified management fee is charged as a percentage of the Fund’s average daily Managed Assets, as opposed to net assets. If leverage is used, Managed Assets will be greater in amount than net assets, because Managed Assets includes borrowings for investment purposes. The management fee of 1.30% of the Fund’s Managed Assets represents 1.79% of net assets attributable to Common Shares assuming the use of leverage in an amount of 27% of the Fund’s Managed Assets as of December 31, 2023.
Acquired Fund Fees and Expenses, Note [Text Block]		The “Acquired Fund Fees and Expenses” disclosed above are based on the expense ratios for the most recent fiscal year of the Underlying Funds and SPACs in which the Fund anticipates investing, which may change substantially over time and, therefore, significantly affect Acquired Fund Fees and Expenses. These amounts are based on the total expense ratio disclosed in each Underlying Fund’s most recent stockholder report. Some of the Underlying Funds and SPACs in which the Fund intends to invest charge incentive fees based on the Underlying Funds’ or SPACs’ performance. The 1.25% shown as Acquired Fund Fees and Expenses reflects estimated operating expenses of the Underlying Funds or SPACs and transaction-related fees. Certain Underlying Funds or SPACs in which the Fund intends to invest generally charge a management fee of 1.00% to 2.00%, which are included in “Acquired Fund Fees and Expenses,” as applicable. The Acquired Fund Fees and Expenses disclosed above, however, do not reflect any performance-based fees or allocations paid by the Underlying Funds and SPACs that are calculated solely on the realization and/or distribution of gains, or on the sum of such gains and unrealized appreciation of assets distributed in-kind, as such fees and allocations for a particular period may be unrelated to the cost of investing in the Underlying Funds and SPACs. Acquired Fund Fees and Expenses are borne indirectly by the Fund, but they will not be reflected in the Fund’s financial statements; and the information presented in the table will differ from that presented in the Fund’s financial highlights.
Acquired Fund Fees Estimated, Note [Text Block]		The 1.25% shown as Acquired Fund Fees and Expenses reflects estimated operating expenses of the Underlying Funds or SPACs and transaction-related fees.
General Description of Registrant [Abstract]
Share Price [Table Text Block]		Quarter Ended Market Price (1) NAV (2) Market Premium (3) High Low Market Market Market Market 2024 January 31 $ 11.55 $ 9.94 $ 12.51 $ 11.44 -7.67 % -13.11 % 2023 October 31 $ 11.51 $ 9.67 $ 12.28 $ 11.27 -6.27 % -14.20 % July 31 $ 11.51 $ 10.96 $ 12.32 $ 12.23 -6.57 % -10.38 % April 30 $ 12.50 $ 10.89 $ 12.82 $ 12.24 -2.50 % -11.03 % 2022 October 31 $ 15.20 $ 11.85 $ 13.82 $ 12.29 9.99 % -3.58 % July 31 $ 14.93 $ 12.58 $ 13.97 $ 13.00 6.87 % -3.23 % April 30 $ 16.63 $ 14.93 $ 15.87 $ 14.15 4.79 % 5.51 % January 31 $ 17.53 $ 15.46 $ 17.09 $ 15.64 2.57 % -1.15 % 2021 October 31 $ 18.75 $ 16.71 $ 17.07 $ 16.89 9.84 % -1.07 % July 31 $ 18.75 $ 16.75 $ 17.24 $ 17.02 8.76 % -1.59 % April 30 $ 17.88 $ 16.71 $ 17.23 $ 16.61 3.77 % 0.60 % January 31 $ 17.07 $ 13.81 $ 16.48 $ 14.53 3.58 % -4.96 % 2020 October 31 $ 16.09 $ 13.75 $ 15.29 $ 14.49 5.23 % -5.11 % July 31 $ 15.55 $ 12.52 $ 14.95 $ 13.58 4.01 % -7.81 % April 30 $ 17.00 $ 8.65 $ 17.01 $ 11.72 -0.06 % -26.19 % January 31 $ 17.10 $ 15.85 $ 17.30 $ 16.79 -1.16 % -5.60 % (1) Based on high and low closing market price for the respective quarter. (2) Based on the NAV calculated on the day of the high and low closing market prices, as applicable, (3) Calculated based on the information presented.
Capital Stock, Long-Term Debt, and Other Securities [Abstract]
Outstanding Securities [Table Text Block]		The following table provides information about the Fund’s outstanding securities as of March 20, 2024: (1) (2) (3) (4) Title of Class Amount Authorized Amount Held by Fund or for its account Amount Outstanding Exclusive of Amount Shown under (3) As of March 20, 2024 Common Stock 37,500,000 None 21,453,174 Series A Preferred Stock 3,910,000 None 3,910,000
Common Shares [Member]
Fee Table [Abstract]
Sales Load [Percent]	[1]	1%
Dividend Reinvestment and Cash Purchase Fees	[2]	$ 0
Other Transaction Expenses [Abstract]
Other Transaction Expense 1 [Percent]	[1]	8%
Management Fees [Percent]	[3]	1.79%
Interest Expenses on Borrowings [Percent]	[4]	0%
Dividend Expenses on Preferred Shares [Percent]	[5]	2.27%
Dividend and Interest Expenses on Short Sales [Percent]	[4]	0.38%
Acquired Fund Fees and Expenses [Percent]	[6]	1.25%
Other Annual Expenses [Abstract]
Other Annual Expenses [Percent]	[4]	0.09%
Total Annual Expenses [Percent]		5.78%
Expense Example, Year 01	[7]	$ 68
Expense Example, Years 1 to 3	[7]	180
Expense Example, Years 1 to 5	[7]	291
Expense Example, Years 1 to 10	[7]	$ 560
General Description of Registrant [Abstract]
Lowest Price or Bid	[8]			$ 9.94	$ 9.67	$ 10.96	$ 10.89	$ 11.85	$ 12.58	$ 14.93	$ 15.46	$ 16.71	$ 16.75	$ 16.71	$ 13.81	$ 13.75	$ 12.52	$ 8.65	$ 15.85
Highest Price or Bid	[8]			11.55	11.51	11.51	12.50	15.20	14.93	16.63	17.53	18.75	18.75	17.88	17.07	16.09	15.55	17	17.10
Lowest Price or Bid, NAV	[9]			11.44	11.27	12.23	12.24	12.29	13	14.15	15.64	16.89	17.02	16.61	14.53	14.49	13.58	11.72	16.79
Highest Price or Bid, NAV	[9]			$ 12.51	$ 12.28	$ 12.32	$ 12.82	$ 13.82	$ 13.97	$ 15.87	$ 17.09	$ 17.07	$ 17.24	$ 17.23	$ 16.48	$ 15.29	$ 14.95	$ 17.01	$ 17.30
Highest Price or Bid, Premium (Discount) to NAV [Percent]	[10]			(7.67%)	(6.27%)	(6.57%)	(2.50%)	9.99%	6.87%	4.79%	2.57%	9.84%	8.76%	3.77%	3.58%	5.23%	4.01%	(0.06%)	(1.16%)
Lowest Price or Bid, Premium (Discount) to NAV [Percent]	[10]			(13.11%)	(14.20%)	(10.38%)	(11.03%)	(3.58%)	(3.23%)	5.51%	(1.15%)	(1.07%)	(1.59%)	0.60%	(4.96%)	(5.11%)	(7.81%)	(26.19%)	(5.60%)
Share Price			$ 11.82
NAV Per Share			$ 12.58
Latest Premium (Discount) to NAV [Percent]			6.04%
Capital Stock, Long-Term Debt, and Other Securities [Abstract]
Outstanding Security, Title [Text Block]			Common Stock
Outstanding Security, Authorized [Shares]			37,500,000
Outstanding Security, Held [Shares]			0
Outstanding Security, Not Held [Shares]			21,453,174
Series A Preferred [Member]
Capital Stock, Long-Term Debt, and Other Securities [Abstract]
Outstanding Security, Title [Text Block]			Series A Preferred Stock
Outstanding Security, Authorized [Shares]			3,910,000
Outstanding Security, Held [Shares]			0
Outstanding Security, Not Held [Shares]			3,910,000
[1]Represents the estimated commission and offering costs with respect to the Common Shares being sold under this Prospectus Supplement and the accompanying Prospectus. There is no guarantee that there will be any sales of Common Shares under this Prospectus Supplement and the accompanying Prospectus. Actual sales of Common Shares under this Prospectus Supplement and the accompanying Prospectus, if any, may be less than as set forth under “Capitalization” below. In addition, the price per Common Share of any such sale may be greater or less than the price set forth under “Capitalization” below, depending on market price of the Common Shares at the time of any such sale.[2]There will be no brokerage charges with respect to Common Shares issued directly by the Fund under the dividend reinvestment plan. You will pay brokerage charges in connection with open market purchases or if you direct the plan agent to sell your Common Shares held in a dividend reinvestment account.[3]The management fee paid by the Fund to the Adviser is essentially an all-in fee structure (the “unified management fee”), including the fee paid to the Adviser for advisory, supervisory, administrative, shareholder servicing and other services. However, the Fund (and not the Adviser) will be responsible for certain additional fees and expenses, which are reflected in the table above, that are not covered by the unified management fee. The unified management fee is charged as a percentage of the Fund’s average daily Managed Assets, as opposed to net assets. If leverage is used, Managed Assets will be greater in amount than net assets, because Managed Assets includes borrowings for investment purposes. The management fee of 1.30% of the Fund’s Managed Assets represents 1.79% of net assets attributable to Common Shares. The management fee paid by the Fund to the Adviser is essentially an all-in fee structure (the “unified management fee”), including the fee paid to the Adviser for advisory, supervisory, administrative, shareholder servicing and other services. However, the Fund (and not the Adviser) will be responsible for certain additional fees and expenses, which are reflected in the table above, that are not covered by the unified management fee. The unified management fee is charged as a percentage of the Fund’s average daily Managed Assets, as opposed to net assets. If leverage is used, Managed Assets will be greater in amount than net assets, because Managed Assets includes borrowings for investment purposes. The management fee of 1.30% of the Fund’s Managed Assets represents 1.79% of net assets attributable to Common Shares assuming the use of leverage in an amount of 27% of the Fund’s Managed Assets as of December 31, 2023.[4]Other Expenses, Interest Expense on Borrowings and Dividend and Interest Expense on Short Sales are estimated based on the Fund’s Annual Report dated July 31, 2023.[5]Dividends on Preferred Shares represent the estimated dividend expense adjusted to assume (i) 3,910,000 shares of 6.00% Series A Cumulative Perpetual Preferred Stock with a liquidation preference of $97,750,000 was outstanding for the entire 12 months of operations after July 31, 2023.[6] The “Acquired Fund Fees and Expenses” disclosed above are based on the expense ratios for the most recent fiscal year of the Underlying Funds and SPACs in which the Fund anticipates investing, which may change substantially over time and, therefore, significantly affect Acquired Fund Fees and Expenses. These amounts are based on the total expense ratio disclosed in each Underlying Fund’s most recent stockholder report. Some of the Underlying Funds and SPACs in which the Fund intends to invest charge incentive fees based on the Underlying Funds’ or SPACs’ performance. The 1.25% shown as Acquired Fund Fees and Expenses reflects estimated operating expenses of the Underlying Funds or SPACs and transaction-related fees. Certain Underlying Funds or SPACs in which the Fund intends to invest generally charge a management fee of 1.00% to 2.00%, which are included in “Acquired Fund Fees and Expenses,” as applicable. The Acquired Fund Fees and Expenses disclosed above, however, do not reflect any performance-based fees or allocations paid by the Underlying Funds and SPACs that are calculated solely on the realization and/or distribution of gains, or on the sum of such gains and unrealized appreciation of assets distributed in-kind, as such fees and allocations for a particular period may be unrelated to the cost of investing in the Underlying Funds and SPACs. Acquired Fund Fees and Expenses are borne indirectly by the Fund, but they will not be reflected in the Fund’s financial statements; and the information presented in the table will differ from that presented in the Fund’s financial highlights.