Funding arb · Price arb /

RAY

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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 −0.006%

Price spread now: KuCoin against HTX+0.211%7-day average +0.020% · you sell dearer than you buy

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

Long on HTX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.064%−$6 on $10k

Price spread, last 3 days (all we have)−0.232%−$23 · spread now +0.211%, 7d avg +0.020%

Together, before fees−0.296%−$30 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 0.191% dearer against HTX than usual: you sell high and buy low, +$19 on $10k if it goes back to its 7-day average of +0.020%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX RAY-USDT	1.8006	0.0100	pay 0.0050% / 4h	3h 39m	$15K	$111K	20x
Short	KuCoin RAYUSDTM	1.8044	0.0100	get 0.0050% / 4h	3h 39m	$2.0M	$763K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against HTX. 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 HTXbpFee KuCoinbpOrdersPrice spread, now +0.211%Rate

Funding earned: $0
Price spread: +0.211% → +0.020%: $19.07
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$4.93
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: HTX: live order book, 32 min ago; KuCoin: live order book, 7 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 HTX live order book, 32 min ago	52.05 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 7 min ago	9.18 bp	35.5 bp −$36	344.8 bp −$3,448	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	−0.1819%	1h	1.7968	−0.210%	$95K	$434K	10x	as long as short
gTrade (Gains Network) RAY/USD	L +0.0001% / S +0.0056%	1h	1.8030	+0.131%	$2K	—	150x	as long as short
Injective RAY/USDC PERP	+0.0033%	1h	1.6428	−8.764%	$266	$25	5.5x	as long as short
MEXC RAY_USDT	+0.0082%	8h	1.8052	+0.255%	$12.8M	$2.5M	100x	as long as short
OKX RAY-USDT-SWAP	+0.0100%	8h	1.8037	+0.172%	$4.6M	$13.1M	20x	as long as short
Gate RAY_USDT	+0.0100%	4h	1.8040	+0.189%	$562K	$1.1M	25x	as long as short
KuCoin RAYUSDTMshort	+0.0100%	4h	1.8044	+0.211%	$2.0M	$763K	50x
Bitget RAYUSDT	+0.0100%	4h	1.8032	+0.144%	$2.6M	$3.6M	25x	as long as short
BingX RAY-USDT	+0.0100%	4h	1.8038	+0.178%	—	$2.1M	—	as long as short
Variational Omni RAY	+0.0100%	4h	1.7990	−0.090%	$705K	$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	1.8037	+0.173%	$106K	$44K	10x	as long as short
SunX RAY-USDT	+0.0100%	4h	1.8049	+0.239%	—	$2.6M	10x	as long as short
HTX RAY-USDTlong	+0.0100%	4h	1.8006	long leg	$15K	$111K	20x
Lighter RAY	+0.0128%	1h	1.8057	+0.283%	$274K	$279K	5x	as long as short
BloFin RAY-USDT	+0.0220%	8h	1.8028	+0.122%	$256K	$861K	20x	as long as short
Orderly PERP_RAY_USDC	+0.0548%	4h	1.8055	+0.272%	$250K	$242K	10x	as long as short