Funding arb · Price arb /

RAY

all RAY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0120%/8h= −13.1% APRpaid last 24h −0.013%

Price spread now: HTX against BloFin+0.259%7-day average — · you sell dearer than you buy

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

Long on BloFin Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.058%−$6 on $10k

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

Together, before fees—needs both histories

The price spread pays, funding is against you. HTX is 0.259% dearer against BloFin than usual: you sell high and buy low (spread +0.259% now, against zero (this spread has no 7-day history yet)): +$26 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 7.2 days. At the pace of the last 7 days (−0.058% in total) that is about 31 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin RAY-USDT	1.7768	0.0220	pay 0.0220% / 8h	3h 02m	$246K	$928K	20x
Short	HTX RAY-USDT	1.7814	0.0100	get 0.0050% / 4h	3h 02m	$13K	$91K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against BloFin. 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 BloFinbpFee HTXbpOrdersPrice spread, now +0.259%Rate

Funding earned: −$25.2
Price spread: +0.259% → 0.000%: $25.89
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee HTX: 6 bp × 2 orders: −$12
Net: −$23.31
Costs to cover: 0.240%
Break-even: from the start

Slippage unknown: BloFin: live order book, 29 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 BloFin live order book, 29 min ago	1.67 bp	16.7 bp −$17	doesn't fit	doesn't fit	doesn't fit
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	−0.2706%	1h	1.7739	−0.162%	$89K	$392K	10x	as long as short
gTrade (Gains Network) RAY/USD	L +0.0001% / S +0.0056%	1h	1.7772	+0.025%	$1K	—	150x	as long as short
Injective RAY/USDC PERP	+0.0033%	1h	1.6428	−7.542%	$266	$25	5.5x	as long as short
MEXC RAY_USDT	+0.0050%	8h	1.7778	+0.056%	$12.3M	$2.5M	100x	as long as short
Lighter RAY	+0.0096%	1h	1.7808	+0.225%	$252K	$305K	5x	as long as short
OKX RAY-USDT-SWAP	+0.0100%	8h	1.7783	+0.084%	$4.3M	$12.7M	20x	as long as short
Gate RAY_USDT	+0.0100%	4h	1.7798	+0.169%	$576K	$1.2M	25x	as long as short
KuCoin RAYUSDTM	+0.0100%	4h	1.7780	+0.068%	$1.9M	$787K	50x	as long as short
Bitget RAYUSDT	+0.0100%	4h	1.7785	+0.096%	$2.6M	$3.8M	25x	as long as short
BingX RAY-USDT	+0.0100%	4h	1.7795	+0.152%	—	$2.0M	—	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni RAY	+0.0100%	4h	1.7826	+0.326%	$691K	$866K	—	as long as short
Bullet RAY-USD	+0.0100%	1h	1.7784	+0.092%	$67K	$66K	10x	as long as short
SunX RAY-USDT	+0.0100%	4h	1.7779	+0.062%	—	$2.4M	10x	as long as short
HTX RAY-USDTshort	+0.0100%	4h	1.7814	+0.259%	$13K	$91K	20x
BloFin RAY-USDTlong	+0.0220%	8h	1.7768	long leg	$246K	$928K	20x
Orderly PERP_RAY_USDC	+0.1665%	4h	1.7821	+0.298%	$319K	$390K	10x	as long as short