Funding arb · Price arb /

RAY

all RAY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0099%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: HTX against gTrade (Gains Network)+0.013%7-day average — · you sell dearer than you buy

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

Long on gTrade (Gains Network)Short on HTX

What this pair did over the last

the charts below follow

Funding, last 4 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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) RAY/USD	1.7779	L +0.0001% / S +0.0056%	pay 0.0000% / 1h	45m 32s	$3K	—	150x
Short	HTX RAY-USDT	1.7781	0.0100	get 0.0050% / 4h	3h 45m	$13K	$89K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.013%Rate

Funding earned: $20.88
Price spread: +0.013% → 0.000%: $1.29
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: $0.18
Costs to cover: 0.220%
Break-even: 6.9 days

Slippage unknown: gTrade (Gains Network): no order-book sample; 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell HTX no order-book sample	—	—	—	—	—

gTrade (Gains Network) and 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
gTrade (Gains Network) RAY/USDlong	L +0.0001% / S +0.0056%	1h	1.7779	long leg	$3K	—	150x
Injective RAY/USDC PERP	+0.0033%	1h	1.6428	−7.597%	$266	$25	5.5x	as long as short
OKX RAY-USDT-SWAP	+0.0100%	8h	1.7768	−0.060%	$4.2M	$12.8M	20x	as long as short
Gate RAY_USDT	+0.0100%	4h	1.7779	+0.002%	$555K	$1.1M	25x	as long as short
KuCoin RAYUSDTM	+0.0100%	4h	1.7775	−0.021%	$1.8M	$827K	50x	as long as short
Bitget RAYUSDT	+0.0100%	4h	1.7775	−0.021%	$2.6M	$3.9M	25x	as long as short
Variational Omni RAY	+0.0100%	4h	1.7800	+0.117%	$663K	$806K	—	as long as short
Bullet RAY-USD	+0.0100%	1h	1.7760	−0.106%	$67K	$28K	10x	as long as short
SunX RAY-USDT	+0.0100%	4h	1.7788	+0.052%	—	$2.3M	10x	as long as short
HTX RAY-USDTshort	+0.0100%	4h	1.7781	+0.013%	$13K	$89K	20x

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin RAY-USDT	+0.0102%	8h	1.7795	+0.092%	$241K	$881K	20x	as long as short
Lighter RAY	+0.0384%	1h	1.7802	+0.131%	$233K	$335K	5x	as long as short
BingX RAY-USDT	+0.0780%	4h	1.7781	+0.013%	—	$2.0M	—	as long as short
MEXC RAY_USDT	+0.0890%	8h	1.7774	−0.026%	$11.8M	$2.5M	100x	as long as short
Kraken Futures PF_RAYUSD	+0.1947%	1h	1.7849	+0.395%	$94K	$381K	10x	as long as short
Orderly PERP_RAY_USDC	+0.2127%	4h	1.7815	+0.204%	$315K	$386K	10x	as long as short