RAY

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0170%/8h= +18.6% APRnext payment +$1.70 per $10,000 · paid last 24h +0.077%

Price spread now: BloFin against MEXC+0.124%94s7-day average −0.049% · you sell dearer than you buy

Net, funding: paid 7d − costs+$30as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$520.516% of the position

Long on MEXC Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.812%+$81 on $10k

Price spread, last 3 days (all we have)−0.104%−$10 · spread now +0.124%, 7d avg −0.049%

Together, before fees+0.708%+$71 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and BloFin is 0.173% dearer against MEXC than usual: you sell high and buy low: +$17 more if the spread goes back to its 7-day average of −0.049%. The two prices were read 94 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC RAY_USDT	1.8522	0.0050	pay 0.0050% / 8h	7h 11m	$13.1M	$2.5M	100x
Short	BloFin RAY-USDT	1.8545	0.0220	get 0.0220% / 8h	7h 11m	$255K	$886K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against MEXC. 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 MEXCbpFee BloFinbpOrdersPrice spread, now +0.124%Rate

Funding earned: $35.7
Price spread: +0.124% → −0.049%: $17.28
Slippage, 4 orders: −$35.6
Fee MEXC: 2 bp × 2 orders: −$4
Fee BloFin: 6 bp × 2 orders: −$12
Net: $1.38
Costs to cover: 0.516%
Break-even: 6.7 days

Slippage from MEXC: live order book, 2 min ago; BloFin: live order book, 60 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 MEXC live order book, 2 min ago	2.96 bp	7.4 bp −$7	45.9 bp −$459	120.7 bp −$12.1K	doesn't fit
Sell BloFin live order book, 60 min ago	0.55 bp	19.1 bp −$19	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	−0.1755%	1h	1.8621	+0.533%	$94K	$440K	10x	as long as short
gTrade (Gains Network) RAY/USD	L +0.0001% / S +0.0056%	1h	1.8533	+0.059%	$2K	—	150x	as long as short
Injective RAY/USDC PERP	+0.0033%	1h	1.6428	−11.305%	$266	$25	5.5x	as long as short
MEXC RAY_USDTlong	+0.0050%	8h	1.8522	long leg	$13.1M	$2.5M	100x
OKX RAY-USDT-SWAP	+0.0100%	8h	1.8503	−0.103%	$4.7M	$13.4M	20x	as long as short
Gate RAY_USDT	+0.0100%	4h	1.8532	+0.054%	$569K	$1.1M	25x	as long as short
KuCoin RAYUSDTM	+0.0100%	4h	1.8539	+0.092%	$2.0M	$770K	50x	as long as short
Bitget RAYUSDT	+0.0100%	4h	1.8529	+0.038%	$2.7M	$3.7M	25x	as long as short
Variational Omni RAY	+0.0100%	4h	1.8511	−0.061%	$725K	$1.0M	—	as long as short
Bullet RAY-USD	+0.0100%	1h	1.8542	+0.108%	$70K	$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-USDT	+0.0100%	4h	1.8534	+0.065%	—	$2.5M	10x	as long as short
HTX RAY-USDT	+0.0100%	4h	1.8525	+0.016%	$13K	$110K	20x	as long as short
BloFin RAY-USDTshort	+0.0220%	8h	1.8545	+0.124%	$255K	$886K	20x
Lighter RAY	+0.0496%	1h	1.8555	+0.178%	$277K	$284K	5x	as long as short
Orderly PERP_RAY_USDC	+0.0575%	4h	1.8560	+0.205%	$263K	$247K	10x	as long as short
BingX RAY-USDT	+0.0618%	4h	1.8539	+0.092%	—	$2.0M	—	as long as short