Funding arb · Price arb /

RAY

all RAY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.006%

Price spread now: SunX against KuCoin−0.080%7-day average +0.007% · you buy dearer than you sell

Net, funding: paid 7d − costs−$241as in the Funding arb table

Net, price: spread back to 7d avg − costs−$257as in the Price arb table

costs, in and out, $10k−$2482.479% of the position

Long on KuCoin Short on SunX

What this pair did over the last

the charts below follow

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

Price spread, last 4 days (all we have)−0.109%−$11 · spread now −0.080%, 7d avg +0.007%

Together, before fees−0.044%−$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: SunX is 0.087% cheaper against KuCoin than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of +0.007%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin RAYUSDTM	1.7462	0.0100	pay 0.0050% / 4h	2h 35m	$1.9M	$831K	50x
Short	SunX RAY-USDT	1.7448	0.0100	get 0.0050% / 4h	2h 35m	—	$2.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against KuCoin. 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 KuCoinbpFee SunXbpOrdersPrice spread, now −0.080%Rate

Funding earned: $0
Price spread: −0.080% → +0.007%: −$8.69
Slippage, 4 orders: −$227.88
Fee KuCoin: 6 bp × 2 orders: −$12
Fee SunX: 4 bp × 2 orders: −$8
Net: −$256.57
Costs to cover: 2.479%
Break-even: never at this rate

Slippage from KuCoin: live order book, 6 min ago; SunX: live order book, 1 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 KuCoin live order book, 6 min ago	7.78 bp	81.9 bp −$82	doesn't fit	doesn't fit	doesn't fit
Sell SunX live order book, 1 min ago	44.99 bp	64.1 bp −$64	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	−0.1578%	1h	1.7517	+0.315%	$86K	$397K	10x	as long as short
gTrade (Gains Network) RAY/USD	L +0.0001% / S +0.0056%	1h	1.7427	−0.200%	$431	—	150x	as long as short
Injective RAY/USDC PERP	+0.0033%	1h	1.6428	−5.921%	$266	$25	5.5x	as long as short
OKX RAY-USDT-SWAP	+0.0100%	8h	1.7485	+0.132%	$4.2M	$12.9M	20x	as long as short
Gate RAY_USDT	+0.0100%	4h	1.7480	+0.103%	$547K	$1.2M	25x	as long as short
KuCoin RAYUSDTMlong	+0.0100%	4h	1.7462	long leg	$1.9M	$831K	50x
Bitget RAYUSDT	+0.0100%	4h	1.7482	+0.115%	$2.6M	$4.0M	25x	as long as short
BingX RAY-USDT	+0.0100%	4h	1.7494	+0.183%	—	$2.0M	—	as long as short
Variational Omni RAY	+0.0100%	4h	1.7444	−0.104%	$671K	$870K	—	as long as short
Bullet RAY-USD	+0.0100%	1h	1.7436	−0.147%	$65K	$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	1.7448	−0.080%	—	$2.4M	10x
HTX RAY-USDT	+0.0100%	4h	1.7439	−0.132%	$13K	$91K	20x	as long as short
BloFin RAY-USDT	+0.0220%	8h	1.7397	−0.372%	$245K	$926K	20x	as long as short
Lighter RAY	+0.0464%	1h	1.7508	+0.263%	$247K	$309K	5x	as long as short
MEXC RAY_USDT	+0.0697%	8h	1.7495	+0.189%	$11.8M	$2.5M	100x	as long as short
Orderly PERP_RAY_USDC	+0.1856%	4h	1.7483	+0.120%	$313K	$391K	10x	as long as short