Funding arb · Price arb /

RAY

all RAY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0049%/8h= +5.4% APRpaid last 24h −0.052%

Price spread now: MEXC against gTrade (Gains Network)+0.011%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 MEXC

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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$1 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	1.7990	L +0.0001% / S +0.0056%	pay 0.0000% / 1h	57m 34s	$2K	—	150x
Short	MEXC RAY_USDT	1.7992	0.0050	get 0.0050% / 8h	7h 57m	$12.8M	$2.5M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.011%Rate

Funding earned: $10.38
Price spread: +0.011% → 0.000%: $1.11
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$2.5
Costs to cover: 0.140%
Break-even: 8.7 days

Slippage unknown: gTrade (Gains Network): no order-book sample; MEXC: live order book, 6 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 MEXC live order book, 6 min ago	4.17 bp	7.1 bp −$7	33.4 bp −$334	105.9 bp −$10.6K	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	−0.1816%	1h	1.8004	+0.080%	$95K	$434K	10x	as long as short
gTrade (Gains Network) RAY/USDlong	L +0.0001% / S +0.0056%	1h	1.7990	long leg	$2K	—	150x
Injective RAY/USDC PERP	+0.0033%	1h	1.6428	−8.683%	$266	$25	5.5x	as long as short
MEXC RAY_USDTshort	+0.0050%	8h	1.7992	+0.011%	$12.8M	$2.5M	100x
OKX RAY-USDT-SWAP	+0.0100%	8h	1.7989	−0.006%	$4.5M	$13.1M	20x	as long as short
Gate RAY_USDT	+0.0100%	4h	1.7976	−0.078%	$560K	$1.1M	25x	as long as short
KuCoin RAYUSDTM	+0.0100%	4h	1.7994	+0.022%	$2.0M	$761K	50x	as long as short
Bitget RAYUSDT	+0.0100%	4h	1.7993	+0.017%	$2.6M	$3.7M	25x	as long as short
Variational Omni RAY	+0.0100%	4h	1.7989	−0.005%	$704K	$1.0M	—	as long as short
Bullet RAY-USD	+0.0100%	1h	1.7971	−0.106%	$106K	$44K	10x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX RAY-USDT	+0.0100%	4h	1.7983	−0.039%	—	$2.6M	10x	as long as short
HTX RAY-USDT	+0.0100%	4h	1.8099	+0.606%	$15K	$115K	20x	as long as short
Lighter RAY	+0.0136%	1h	1.7995	+0.028%	$274K	$277K	5x	as long as short
BingX RAY-USDT	+0.0150%	4h	1.7990	0.000%	—	$2.1M	—	as long as short
BloFin RAY-USDT	+0.0220%	8h	1.7985	−0.028%	$254K	$852K	20x	as long as short
Orderly PERP_RAY_USDC	+0.0582%	4h	1.7999	+0.050%	$250K	$242K	10x	as long as short