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 −0.019%

Price spread now: KuCoin against BloFin+0.106%50s7-day average +0.037% · you sell dearer than you buy

Net, funding: paid 7d − costs−$153as 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−$1411.411% of the position

Long on BloFin Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.122%−$12 on $10k

Price spread, last 4 days (all we have)−0.022%−$2 · spread now +0.106%, 7d avg +0.037%

Together, before fees−0.144%−$14 on $10k · with fees, hour by hour

The price spread pays, funding is against you. KuCoin is 0.069% dearer against BloFin than usual: you sell high and buy low (spread +0.106% now, against its 7-day average of +0.037%): +$7 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 46 hours. At the pace of the last 7 days (−0.122% in total) that is about 3.9 days. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin RAY-USDT	1.7944	0.0220	pay 0.0220% / 8h	3h 54m	$252K	$917K	20x
Short	KuCoin RAYUSDTM	1.7963	0.0100	get 0.0050% / 4h	3h 54m	$1.9M	$780K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.106%Rate

Funding earned: −$25.2
Price spread: +0.106% → +0.037%: $6.88
Slippage, 4 orders: −$117.14
Fee BloFin: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$159.46
Costs to cover: 1.411%
Break-even: never at this rate

Slippage from BloFin: live order book, 43 min ago; KuCoin: live order book, 2 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 BloFin live order book, 43 min ago	3.05 bp	20.1 bp −$20	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 2 min ago	9.22 bp	38.8 bp −$39	342.7 bp −$3,427	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
Kraken Futures PF_RAYUSD	−0.2675%	1h	1.7941	−0.017%	$90K	$402K	10x	as long as short
MEXC RAY_USDT	−0.0371%	8h	1.7962	+0.100%	$12.5M	$2.4M	100x	as long as short
gTrade (Gains Network) RAY/USD	L +0.0001% / S +0.0056%	1h	1.7952	+0.046%	$1K	—	150x	as long as short
Injective RAY/USDC PERP	+0.0033%	1h	1.6428	−8.449%	$266	$25	5.5x	as long as short
OKX RAY-USDT-SWAP	+0.0100%	8h	1.7928	−0.089%	$4.4M	$12.8M	20x	as long as short
Gate RAY_USDT	+0.0100%	4h	1.7952	+0.045%	$578K	$1.1M	25x	as long as short
KuCoin RAYUSDTMshort	+0.0100%	4h	1.7963	+0.106%	$1.9M	$780K	50x
Bitget RAYUSDT	+0.0100%	4h	1.7965	+0.117%	$2.6M	$3.8M	25x	as long as short
BingX RAY-USDT	+0.0100%	4h	1.7964	+0.111%	—	$2.0M	—	as long as short
Variational Omni RAY	+0.0100%	4h	1.7898	−0.254%	$692K	$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	1.7948	+0.024%	$67K	$66K	10x	as long as short
SunX RAY-USDT	+0.0100%	4h	1.7972	+0.156%	—	$2.4M	10x	as long as short
HTX RAY-USDT	+0.0100%	4h	1.7951	+0.039%	$13K	$91K	20x	as long as short
Lighter RAY	+0.0152%	1h	1.7975	+0.173%	$259K	$299K	5x	as long as short
BloFin RAY-USDTlong	+0.0220%	8h	1.7944	long leg	$252K	$917K	20x
Orderly PERP_RAY_USDC	+0.1386%	4h	1.8004	+0.334%	$323K	$400K	10x	as long as short