Funding arb · Price arb /

RAY

all RAY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: SunX against Gate+0.189%7-day average +0.017% · you sell dearer than you buy

Net, funding: paid 7d − costs−$331as in the Funding arb table

Net, price: spread back to 7d avg − costs−$326as in the Price arb table

costs, in and out, $10k−$3443.437% of the position

Long on Gate Short on SunX

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)−0.276%−$28 · spread now +0.189%, 7d avg +0.017%

Together, before fees−0.151%−$15 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: SunX is 0.172% dearer against Gate than usual: you sell high and buy low, +$17 on $10k if it goes back to its 7-day average of +0.017%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate RAY_USDT	1.7973	0.0100	pay 0.0050% / 4h	2h 54m	$555K	$1.1M	25x
Short	SunX RAY-USDT	1.8007	0.0100	get 0.0050% / 4h	2h 54m	—	$2.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.189%Rate

Funding earned: $0
Price spread: +0.189% → +0.017%: $17.2
Slippage, 4 orders: −$320.68
Fee Gate: 7.5 bp × 2 orders: −$15
Fee SunX: 4 bp × 2 orders: −$8
Net: −$326.48
Costs to cover: 3.437%
Break-even: never at this rate

Slippage from Gate: live order book, 2 min ago; SunX: live order book, 2 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, 2 min ago	8.05 bp	61.8 bp −$62	doesn't fit	doesn't fit	doesn't fit
Sell SunX live order book, 2 min ago	80.76 bp	99.6 bp −$100	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
gTrade (Gains Network) RAY/USD	L +0.0001% / S +0.0056%	1h	1.7979	+0.033%	$2K	—	150x	as long as short
Kraken Futures PF_RAYUSD	+0.0010%	1h	1.8047	+0.413%	$89K	$449K	10x	as long as short
Injective RAY/USDC PERP	+0.0033%	1h	1.6428	−8.596%	$266	$25	5.5x	as long as short
OKX RAY-USDT-SWAP	+0.0100%	8h	1.7952	−0.117%	$4.5M	$13.1M	20x	as long as short
Gate RAY_USDTlong	+0.0100%	4h	1.7973	long leg	$555K	$1.1M	25x
KuCoin RAYUSDTM	+0.0100%	4h	1.7987	+0.078%	$1.9M	$769K	50x	as long as short
Bitget RAYUSDT	+0.0100%	4h	1.7956	−0.095%	$2.6M	$3.7M	25x	as long as short
BingX RAY-USDT	+0.0100%	4h	1.7967	−0.033%	—	$2.0M	—	as long as short
Variational Omni RAY	+0.0100%	4h	1.7995	+0.121%	$706K	$1.0M	—	as long as short
Bullet RAY-USD	+0.0100%	1h	1.8003	+0.169%	$68K	$66K	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-USDTshort	+0.0100%	4h	1.8007	+0.189%	—	$2.5M	10x
HTX RAY-USDT	+0.0100%	4h	1.7970	−0.017%	$13K	$107K	20x	as long as short
Lighter RAY	+0.0160%	1h	1.8006	+0.184%	$268K	$281K	5x	as long as short
BloFin RAY-USDT	+0.0220%	8h	1.7978	+0.028%	$260K	$870K	20x	as long as short
MEXC RAY_USDT	+0.0369%	8h	1.7994	+0.117%	$12.7M	$2.5M	100x	as long as short
Orderly PERP_RAY_USDC	+0.0581%	4h	1.8001	+0.156%	$253K	$249K	10x	as long as short