Funding arb · Price arb /

RAY

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: HTX against Gate+0.597%7-day average −0.006% · you sell dearer than you buy

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

Long on Gate Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.124%+$12 on $10k

Price spread, last 3 days (all we have)−0.517%−$52 · spread now +0.597%, 7d avg −0.006%

Together, before fees−0.393%−$39 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: HTX is 0.603% dearer against Gate than usual: you sell high and buy low, +$60 on $10k if it goes back to its 7-day average of −0.006%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate RAY_USDT	1.7931	0.0100	pay 0.0050% / 4h	6m 29s	$558K	$1.1M	25x
Short	HTX RAY-USDT	1.8038	0.0100	get 0.0050% / 4h	6m 29s	$15K	$117K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.597%Rate

Funding earned: $0
Price spread: +0.597% → −0.006%: $60.29
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee HTX: 6 bp × 2 orders: −$12
Net: $33.29
Costs to cover: 0.270%
Break-even: from the start

Slippage unknown: Gate: live order book, 6 min ago; HTX: live order book, 4 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 Gate live order book, 6 min ago	6.09 bp	72.0 bp −$72	doesn't fit	doesn't fit	doesn't fit
Sell HTX live order book, 4 min ago	52.05 bp	doesn't fit	doesn't fit	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	−0.2434%	1h	1.8023	+0.513%	$95K	$434K	10x	as long as short
gTrade (Gains Network) RAY/USD	L +0.0001% / S +0.0056%	1h	1.8025	+0.525%	$2K	—	150x	as long as short
Injective RAY/USDC PERP	+0.0033%	1h	1.6428	−8.382%	$266	$25	5.5x	as long as short
MEXC RAY_USDT	+0.0048%	8h	1.7918	−0.073%	$12.8M	$2.6M	100x	as long as short
OKX RAY-USDT-SWAP	+0.0100%	8h	1.7932	+0.006%	$4.5M	$13.0M	20x	as long as short
Gate RAY_USDTlong	+0.0100%	4h	1.7931	long leg	$558K	$1.1M	25x
KuCoin RAYUSDTM	+0.0100%	4h	1.7996	+0.363%	$2.0M	$757K	50x	as long as short
Bitget RAYUSDT	+0.0100%	4h	1.7946	+0.084%	$2.6M	$3.6M	25x	as long as short
BingX RAY-USDT	+0.0100%	4h	1.7916	−0.084%	—	$2.1M	—	as long as short
Variational Omni RAY	+0.0100%	4h	1.8097	+0.925%	$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	1.8026	+0.530%	$106K	$44K	10x	as long as short
SunX RAY-USDT	+0.0100%	4h	1.8018	+0.485%	—	$2.6M	10x	as long as short
HTX RAY-USDTshort	+0.0100%	4h	1.8038	+0.597%	$15K	$117K	20x
BloFin RAY-USDT	+0.0220%	8h	1.8026	+0.530%	$254K	$854K	20x	as long as short
Lighter RAY	+0.0312%	1h	1.8010	+0.441%	$279K	$278K	5x	as long as short
Orderly PERP_RAY_USDC	+0.0590%	4h	1.8035	+0.580%	$250K	$247K	10x	as long as short