Funding arb · Price arb /

RAY

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0099%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: Gate against gTrade (Gains Network)−0.087%7-day average — · you buy dearer than you sell

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

Long on gTrade (Gains Network)Short on Gate

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—needs both histories

Funding pays, the price is against you. Gate is 0.087% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.087% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$9 on $10k: about 2.9 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) RAY/USD	1.8116	L +0.0001% / S +0.0056%	pay 0.0000% / 1h	8m 51s	$2K	—	150x
Short	Gate RAY_USDT	1.8100	0.0100	get 0.0050% / 4h	8m 51s	$562K	$1.1M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee GatebpOrdersPrice spread, now −0.087%Rate

Funding earned: $20.88
Price spread: −0.087% → 0.000%: −$8.67
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$12.78
Costs to cover: 0.250%
Break-even: 11.3 days

Slippage unknown: gTrade (Gains Network): no order-book sample; Gate: live order book, 3 min ago. 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell Gate live order book, 3 min ago	6.09 bp	89.9 bp −$90	doesn't fit	doesn't fit	doesn't fit

gTrade (Gains Network): 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	−0.2429%	1h	1.8065	−0.282%	$95K	$434K	10x	as long as short
gTrade (Gains Network) RAY/USDlong	L +0.0001% / S +0.0056%	1h	1.8116	long leg	$2K	—	150x
MEXC RAY_USDT	+0.0027%	8h	1.8101	−0.081%	$12.9M	$2.5M	100x	as long as short
Injective RAY/USDC PERP	+0.0033%	1h	1.6428	−9.316%	$266	$25	5.5x	as long as short
OKX RAY-USDT-SWAP	+0.0100%	8h	1.8064	−0.285%	$4.5M	$13.1M	20x	as long as short
Gate RAY_USDTshort	+0.0100%	4h	1.8100	−0.087%	$562K	$1.1M	25x
KuCoin RAYUSDTM	+0.0100%	4h	1.8096	−0.109%	$2.0M	$757K	50x	as long as short
Bitget RAYUSDT	+0.0100%	4h	1.8080	−0.197%	$2.6M	$3.6M	25x	as long as short
BingX RAY-USDT	+0.0100%	4h	1.8096	−0.109%	—	$2.0M	—	as long as short
Variational Omni RAY	+0.0100%	4h	1.8097	−0.104%	$709K	$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	1.8121	+0.029%	$106K	$44K	10x	as long as short
SunX RAY-USDT	+0.0100%	4h	1.8078	−0.208%	—	$2.6M	10x	as long as short
HTX RAY-USDT	+0.0100%	4h	1.8113	−0.015%	$15K	$118K	20x	as long as short
BloFin RAY-USDT	+0.0220%	8h	1.8111	−0.026%	$255K	$858K	20x	as long as short
Lighter RAY	+0.0352%	1h	1.8129	+0.073%	$285K	$261K	5x	as long as short
Orderly PERP_RAY_USDC	+0.0590%	4h	1.8136	+0.112%	$251K	$247K	10x	as long as short