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% APRpaid last 24h −0.034%

Price spread now: OKX against HTX+0.192%7-day average −0.011% · you sell dearer than you buy

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

Long on HTX Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.094%−$9 on $10k

Price spread, last 3 days (all we have)−0.365%−$37 · spread now +0.192%, 7d avg −0.011%

Together, before fees−0.460%−$46 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: OKX is 0.203% dearer against HTX than usual: you sell high and buy low, +$20 on $10k if it goes back to its 7-day average of −0.011%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX RAY-USDT	1.8235	0.0100	pay 0.0050% / 4h	2h 48m	$15K	$154K	20x
Short	OKX RAY-USDT-SWAP	1.8270	0.0100	get 0.0100% / 8h	2h 48m	$4.6M	$13.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.192%Rate

Funding earned: $0
Price spread: +0.192% → −0.011%: $20.28
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$1.72
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: HTX: live order book, 37 min ago; OKX: 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 HTX live order book, 37 min ago	65.14 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 4 min ago	3.30 bp	24.1 bp −$24	107.9 bp −$1,079	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	−0.0047%	1h	1.8248	+0.070%	$108K	$432K	10x	as long as short
gTrade (Gains Network) RAY/USD	L +0.0001% / S +0.0056%	1h	1.8249	+0.074%	$1K	—	150x	as long as short
Injective RAY/USDC PERP	+0.0033%	1h	1.6428	−9.910%	$266	$25	5.5x	as long as short
MEXC RAY_USDT	+0.0050%	8h	1.8248	+0.071%	$13.6M	$2.5M	100x	as long as short
OKX RAY-USDT-SWAPshort	+0.0100%	8h	1.8270	+0.192%	$4.6M	$13.2M	20x
Gate RAY_USDT	+0.0100%	4h	1.8244	+0.049%	$584K	$1.1M	25x	as long as short
KuCoin RAYUSDTM	+0.0100%	4h	1.8243	+0.044%	$2.1M	$758K	50x	as long as short
Bitget RAYUSDT	+0.0100%	4h	1.8260	+0.137%	$2.6M	$3.3M	25x	as long as short
BingX RAY-USDT	+0.0100%	4h	1.8242	+0.038%	—	$2.0M	—	as long as short
Variational Omni RAY	+0.0100%	4h	1.8228	−0.041%	$717K	$1.1M	—	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	1.8242	+0.038%	$107K	$46K	10x	as long as short
SunX RAY-USDT	+0.0100%	4h	1.8247	+0.066%	—	$2.6M	10x	as long as short
HTX RAY-USDTlong	+0.0100%	4h	1.8235	long leg	$15K	$154K	20x
BloFin RAY-USDT	+0.0220%	8h	1.8241	+0.033%	$259K	$847K	20x	as long as short
Orderly PERP_RAY_USDC	+0.0323%	4h	1.8264	+0.159%	$253K	$235K	10x	as long as short
Lighter RAY	+0.0392%	1h	1.8298	+0.345%	$320K	$246K	5x	as long as short