Funding arb · Price arb /

RAY

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.034%

Price spread now: HTX against BingX−0.006%7-day average — · you buy dearer than you sell

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

Long on BingX Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.209%−$21 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX RAY-USDT	1.8033	0.0100	pay 0.0050% / 4h	1m 53s	—	$2.0M	—
Short	HTX RAY-USDT	1.8032	0.0100	get 0.0050% / 4h	1m 53s	$13K	$90K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against BingX. 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 BingXbpFee HTXbpOrdersPrice spread, now −0.006%Rate

Funding earned: $0
Price spread: −0.006% → 0.000%: −$0.55
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$22.55
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: BingX: live order book, 6 min ago; HTX: no order-book sample. 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 BingX live order book, 6 min ago	2.22 bp	18.3 bp −$18	57.1 bp −$571	381.3 bp −$38.1K	763.1 bp −$381.6K
Sell HTX no order-book sample	—	—	—	—	—

HTX: 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	−0.3796%	1h	1.8005	−0.156%	$90K	$418K	10x	as long as short
MEXC RAY_USDT	−0.0351%	8h	1.8012	−0.116%	$12.6M	$2.5M	100x	as long as short
gTrade (Gains Network) RAY/USD	L +0.0001% / S +0.0056%	1h	1.8010	−0.126%	$1K	—	150x	as long as short
Injective RAY/USDC PERP	+0.0033%	1h	1.6428	−8.900%	$266	$25	5.5x	as long as short
OKX RAY-USDT-SWAP	+0.0100%	8h	1.8036	+0.017%	$4.4M	$13.0M	20x	as long as short
Gate RAY_USDT	+0.0100%	4h	1.8026	−0.039%	$580K	$1.2M	25x	as long as short
KuCoin RAYUSDTM	+0.0100%	4h	1.8019	−0.078%	$1.9M	$787K	50x	as long as short
Bitget RAYUSDT	+0.0100%	4h	1.8051	+0.100%	$2.6M	$3.8M	25x	as long as short
BingX RAY-USDTlong	+0.0100%	4h	1.8033	long leg	—	$2.0M	—
Variational Omni RAY	+0.0100%	4h	1.7978	−0.303%	$697K	$868K	—	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bullet RAY-USD	+0.0100%	1h	1.8022	−0.059%	$68K	$66K	10x	as long as short
SunX RAY-USDT	+0.0100%	4h	1.8017	−0.089%	—	$2.4M	10x	as long as short
HTX RAY-USDTshort	+0.0100%	4h	1.8032	−0.006%	$13K	$90K	20x
BloFin RAY-USDT	+0.0220%	8h	1.8099	+0.366%	$256K	$915K	20x	as long as short
Lighter RAY	+0.0456%	1h	1.8050	+0.094%	$260K	$311K	5x	as long as short
Orderly PERP_RAY_USDC	+0.1331%	4h	1.8061	+0.155%	$324K	$400K	10x	as long as short