Funding arb · Price arb /

RAY

all RAY markets

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 −0.006%

Price spread now: KuCoin against Gate+0.077%7-day average +0.014% · you sell dearer than you buy

Net, funding: paid 7d − costs−$248as in the Funding arb table

Net, price: spread back to 7d avg − costs−$248as in the Price arb table

costs, in and out, $10k−$2542.539% of the position

Long on Gate Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.060%+$6 on $10k

Price spread, last 7 days−0.098%−$10 · spread now +0.077%, 7d avg +0.014%

Together, before fees−0.038%−$4 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: KuCoin is 0.063% dearer against Gate than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of +0.014%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate RAY_USDT	1.8100	0.0100	pay 0.0050% / 4h	27m 19s	$563K	$1.1M	25x
Short	KuCoin RAYUSDTM	1.8114	0.0100	get 0.0050% / 4h	27m 19s	$2.0M	$751K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.077%Rate

Funding earned: $0
Price spread: +0.077% → +0.014%: $6.34
Slippage, 4 orders: −$226.95
Fee Gate: 7.5 bp × 2 orders: −$15
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$247.61
Costs to cover: 2.539%
Break-even: never at this rate

Slippage from Gate: live order book, 5 min ago; KuCoin: live order book, 4 min ago.

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, 5 min ago	7.19 bp	78.7 bp −$79	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 4 min ago	8.84 bp	42.1 bp −$42	316.6 bp −$3,166	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	−0.2427%	1h	1.8080	−0.109%	$95K	$437K	10x	as long as short
gTrade (Gains Network) RAY/USD	L +0.0001% / S +0.0056%	1h	1.8107	+0.037%	$2K	—	150x	as long as short
Injective RAY/USDC PERP	+0.0033%	1h	1.6428	−9.238%	$266	$25	5.5x	as long as short
MEXC RAY_USDT	+0.0050%	8h	1.8109	+0.050%	$13.0M	$2.5M	100x	as long as short
OKX RAY-USDT-SWAP	+0.0100%	8h	1.8102	+0.011%	$4.6M	$13.1M	20x	as long as short
Gate RAY_USDTlong	+0.0100%	4h	1.8100	long leg	$563K	$1.1M	25x
KuCoin RAYUSDTMshort	+0.0100%	4h	1.8114	+0.077%	$2.0M	$751K	50x
Bitget RAYUSDT	+0.0100%	4h	1.8108	+0.044%	$2.6M	$3.6M	25x	as long as short
Variational Omni RAY	+0.0100%	4h	1.8096	−0.023%	$710K	$1.0M	—	as long as short
Bullet RAY-USD	+0.0100%	1h	1.8104	+0.022%	$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	1.8104	+0.022%	—	$2.6M	10x	as long as short
HTX RAY-USDT	+0.0100%	4h	1.8110	+0.055%	$15K	$121K	20x	as long as short
BloFin RAY-USDT	+0.0220%	8h	1.8109	+0.050%	$259K	$854K	20x	as long as short
BingX RAY-USDT	+0.0298%	4h	1.8111	+0.061%	—	$2.0M	—	as long as short
Lighter RAY	+0.0432%	1h	1.8129	+0.160%	$287K	$255K	5x	as long as short
Orderly PERP_RAY_USDC	+0.0607%	4h	1.8128	+0.155%	$251K	$247K	10x	as long as short