Funding arb · Price arb /

RAY

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0156%/8h= −17.0% APRpaid last 24h −0.047%

Price spread now: gTrade (Gains Network) against Gate−0.002%7-day average — · you buy dearer than you sell

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

Long on Gate Short on gTrade (Gains Network)

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: −$5 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate RAY_USDT	1.8123	0.0100	pay 0.0050% / 4h	30m 20s	$583K	$1.1M	25x
Short	gTrade (Gains Network) RAY/USD	1.8123	L +0.0001% / S +0.0056%	pay 0.0007% / 1h	30m 20s	$1K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against Gate. 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 GatebpFee gTrade (Gains Network)bpOrdersPrice spread, now −0.002%Rate

Funding earned: −$32.67
Price spread: −0.002% → 0.000%: −$0.17
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$57.84
Costs to cover: 0.250%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 2 min ago; gTrade (Gains Network): 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 Gate live order book, 2 min ago	6.90 bp	59.3 bp −$59	doesn't fit	doesn't fit	doesn't fit
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

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	−0.3772%	1h	1.8119	−0.021%	$91K	$435K	10x	as long as short
MEXC RAY_USDT	−0.0051%	8h	1.8121	−0.011%	$12.5M	$2.4M	100x	as long as short
gTrade (Gains Network) RAY/USDshort	L +0.0001% / S +0.0056%	1h	1.8123	−0.002%	$1K	—	150x
Injective RAY/USDC PERP	+0.0033%	1h	1.6428	−9.353%	$266	$25	5.5x	as long as short
OKX RAY-USDT-SWAP	+0.0100%	8h	1.8136	+0.072%	$4.5M	$13.0M	20x	as long as short
Gate RAY_USDTlong	+0.0100%	4h	1.8123	long leg	$583K	$1.1M	25x
KuCoin RAYUSDTM	+0.0100%	4h	1.8130	+0.039%	$1.9M	$783K	50x	as long as short
Bitget RAYUSDT	+0.0100%	4h	1.8142	+0.105%	$2.6M	$3.8M	25x	as long as short
BingX RAY-USDT	+0.0100%	4h	1.8158	+0.193%	—	$2.0M	—	as long as short
Variational Omni RAY	+0.0100%	4h	1.8114	−0.048%	$708K	$887K	—	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	1.8146	+0.125%	$68K	$66K	10x	as long as short
SunX RAY-USDT	+0.0100%	4h	1.8128	+0.028%	—	$2.4M	10x	as long as short
HTX RAY-USDT	+0.0100%	4h	1.8111	−0.066%	$13K	$90K	20x	as long as short
BloFin RAY-USDT	+0.0220%	8h	1.8119	−0.022%	$254K	$939K	20x	as long as short
Lighter RAY	+0.0360%	1h	1.8151	+0.154%	$263K	$309K	5x	as long as short
Orderly PERP_RAY_USDC	+0.1066%	4h	1.8197	+0.408%	$326K	$400K	10x	as long as short