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 0.000%

Price spread now: Gate against Bitget−0.056%7-day average −0.031% · you buy dearer than you sell

Net, funding: paid 7d − costs−$188as in the Funding arb table

Net, price: spread back to 7d avg − costs−$180as in the Price arb table

costs, in and out, $10k−$1771.774% of the position

Long on Bitget Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.108%−$11 on $10k

Price spread, last 7 days−0.022%−$2 · spread now −0.056%, 7d avg −0.031%

Together, before fees−0.129%−$13 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Gate is 0.025% cheaper against Bitget than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.031%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget RAYUSDT	1.7947	0.0100	pay 0.0050% / 4h	2h 51m	$2.6M	$3.7M	25x
Short	Gate RAY_USDT	1.7937	0.0100	get 0.0050% / 4h	2h 51m	$556K	$1.1M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Bitget. 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 BitgetbpFee GatebpOrdersPrice spread, now −0.056%Rate

Funding earned: $0
Price spread: −0.056% → −0.031%: −$2.52
Slippage, 4 orders: −$150.41
Fee Bitget: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$179.93
Costs to cover: 1.774%
Break-even: never at this rate

Slippage from Bitget: live order book, 1 min ago; Gate: live order book, 1 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 Bitget live order book, 1 min ago	3.88 bp	21.0 bp −$21	81.4 bp −$814	doesn't fit	doesn't fit
Sell Gate live order book, 1 min ago	5.85 bp	75.3 bp −$75	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	1.7954	+0.039%	$2K	—	150x	as long as short
Kraken Futures PF_RAYUSD	+0.0010%	1h	1.8034	+0.483%	$89K	$446K	10x	as long as short
Injective RAY/USDC PERP	+0.0033%	1h	1.6428	−8.464%	$266	$25	5.5x	as long as short
MEXC RAY_USDT	+0.0050%	8h	1.7942	−0.028%	$12.8M	$2.5M	100x	as long as short
OKX RAY-USDT-SWAP	+0.0100%	8h	1.7962	+0.084%	$4.5M	$13.1M	20x	as long as short
Gate RAY_USDTshort	+0.0100%	4h	1.7937	−0.056%	$556K	$1.1M	25x
KuCoin RAYUSDTM	+0.0100%	4h	1.7952	+0.028%	$1.9M	$769K	50x	as long as short
Bitget RAYUSDTlong	+0.0100%	4h	1.7947	long leg	$2.6M	$3.7M	25x
BingX RAY-USDT	+0.0100%	4h	1.7946	−0.006%	—	$2.0M	—	as long as short
Variational Omni RAY	+0.0100%	4h	1.7995	+0.266%	$706K	$1.0M	—	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	1.7958	+0.061%	$67K	$66K	10x	as long as short
SunX RAY-USDT	+0.0100%	4h	1.7997	+0.279%	—	$2.5M	10x	as long as short
HTX RAY-USDT	+0.0100%	4h	1.8016	+0.384%	$13K	$108K	20x	as long as short
Lighter RAY	+0.0136%	1h	1.7961	+0.078%	$267K	$282K	5x	as long as short
BloFin RAY-USDT	+0.0220%	8h	1.7975	+0.156%	$260K	$870K	20x	as long as short
Orderly PERP_RAY_USDC	+0.0580%	4h	1.7980	+0.184%	$253K	$249K	10x	as long as short