Funding arb · Price arb /

RAY

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0199%/8h= −21.7% APRpaid last 24h +0.017%

Price spread now: gTrade (Gains Network) against MEXC+0.178%7-day average — · you sell dearer than you buy

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

Long on MEXC Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. gTrade (Gains Network) is 0.178% dearer against MEXC than usual: you sell high and buy low (spread +0.178% now, against zero (this spread has no 7-day history yet)): +$18 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 3.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC RAY_USDT	1.8013	0.0143	pay 0.0143% / 8h	5h 34m	$12.6M	$2.4M	100x
Short	gTrade (Gains Network) RAY/USD	1.8045	L +0.0001% / S +0.0056%	pay 0.0007% / 1h	34m 44s	$1K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now +0.178%Rate

Funding earned: −$41.7
Price spread: +0.178% → 0.000%: $17.82
Slippage, 4 orders: no order book: not counted
Fee MEXC: 2 bp × 2 orders: −$4
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$37.88
Costs to cover: 0.140%
Break-even: from the start

Slippage unknown: MEXC: live order book, 4 min ago; gTrade (Gains Network): no order-book sample. 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 MEXC live order book, 4 min ago	1.96 bp	9.0 bp −$9	42.7 bp −$427	119.9 bp −$12.0K	doesn't fit
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

gTrade (Gains Network): no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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/USDshort	L +0.0001% / S +0.0056%	1h	1.8045	+0.178%	$1K	—	150x
Injective RAY/USDC PERP	+0.0033%	1h	1.6428	−8.799%	$266	$25	5.5x	as long as short
OKX RAY-USDT-SWAP	+0.0100%	8h	1.7996	−0.094%	$4.5M	$12.9M	20x	as long as short
Gate RAY_USDT	+0.0100%	4h	1.8043	+0.167%	$568K	$1.1M	25x	as long as short
KuCoin RAYUSDTM	+0.0100%	4h	1.8049	+0.200%	$1.9M	$776K	50x	as long as short
Bitget RAYUSDT	+0.0100%	4h	1.8007	−0.033%	$2.6M	$3.7M	25x	as long as short
Variational Omni RAY	+0.0100%	4h	1.8051	+0.211%	$705K	$978K	—	as long as short
Bullet RAY-USD	+0.0100%	1h	1.8057	+0.244%	$68K	$66K	10x	as long as short
SunX RAY-USDT	+0.0100%	4h	1.8041	+0.155%	—	$2.4M	10x	as long as short
HTX RAY-USDT	+0.0100%	4h	1.8061	+0.266%	$13K	$93K	20x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC RAY_USDTlong	+0.0143%	8h	1.8013	long leg	$12.6M	$2.4M	100x
BingX RAY-USDT	+0.0186%	4h	1.8043	+0.167%	—	$2.0M	—	as long as short
BloFin RAY-USDT	+0.0220%	8h	1.8049	+0.200%	$256K	$871K	20x	as long as short
Lighter RAY	+0.0240%	1h	1.8083	+0.389%	$266K	$285K	5x	as long as short
Orderly PERP_RAY_USDC	+0.0588%	4h	1.8096	+0.461%	$321K	$397K	10x	as long as short
Kraken Futures PF_RAYUSD	+0.0772%	1h	1.8041	+0.157%	$89K	$452K	10x	as long as short