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 0.000%

Price spread now: Gate against SunX−0.298%7-day average −0.017% · you buy dearer than you sell

Net, funding: paid 7d − costs−$279as in the Funding arb table

Net, price: spread back to 7d avg − costs−$295as in the Price arb table

costs, in and out, $10k−$2672.665% of the position

Long on SunX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.124%−$12 on $10k

Price spread, last 3 days (all we have)+0.385%+$38 · spread now −0.298%, 7d avg −0.017%

Together, before fees+0.260%+$26 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: Gate is 0.281% cheaper against SunX than usual: you would sell low and buy high, −$28 on $10k if it goes back to its 7-day average of −0.017%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX RAY-USDT	1.8105	0.0100	pay 0.0050% / 4h	2h 56m	—	$2.5M	10x
Short	Gate RAY_USDT	1.8051	0.0100	get 0.0050% / 4h	2h 56m	$557K	$1.1M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against SunX. 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 SunXbpFee GatebpOrdersPrice spread, now −0.298%Rate

Funding earned: $0
Price spread: −0.298% → −0.017%: −$28.11
Slippage, 4 orders: −$243.54
Fee SunX: 4 bp × 2 orders: −$8
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$294.65
Costs to cover: 2.665%
Break-even: never at this rate

Slippage from SunX: live order book, 10 min ago; Gate: live order book, 5 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 SunX live order book, 10 min ago	44.86 bp	63.4 bp −$63	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 5 min ago	5.78 bp	82.4 bp −$82	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
gTrade (Gains Network) RAY/USD	L +0.0001% / S +0.0056%	1h	1.8077	−0.155%	$2K	—	150x	as long as short
Kraken Futures PF_RAYUSD	+0.0010%	1h	1.8139	+0.187%	$91K	$444K	10x	as long as short
Injective RAY/USDC PERP	+0.0033%	1h	1.6428	−9.263%	$266	$25	5.5x	as long as short
MEXC RAY_USDT	+0.0050%	8h	1.8051	−0.298%	$12.7M	$2.5M	100x	as long as short
OKX RAY-USDT-SWAP	+0.0100%	8h	1.8014	−0.503%	$4.5M	$13.1M	20x	as long as short
Gate RAY_USDTshort	+0.0100%	4h	1.8051	−0.298%	$557K	$1.1M	25x
KuCoin RAYUSDTM	+0.0100%	4h	1.8047	−0.320%	$2.0M	$770K	50x	as long as short
Bitget RAYUSDT	+0.0100%	4h	1.8035	−0.387%	$2.6M	$3.7M	25x	as long as short
BingX RAY-USDT	+0.0100%	4h	1.8050	−0.304%	—	$2.0M	—	as long as short
Variational Omni RAY	+0.0100%	4h	1.8181	+0.419%	$712K	$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	1.8101	−0.020%	$68K	$66K	10x	as long as short
SunX RAY-USDTlong	+0.0100%	4h	1.8105	long leg	—	$2.5M	10x
HTX RAY-USDT	+0.0100%	4h	1.8099	−0.033%	$13K	$106K	20x	as long as short
Lighter RAY	+0.0184%	1h	1.8068	−0.204%	$269K	$281K	5x	as long as short
BloFin RAY-USDT	+0.0220%	8h	1.8067	−0.210%	$261K	$874K	20x	as long as short
Orderly PERP_RAY_USDC	+0.0579%	4h	1.8103	−0.011%	$257K	$247K	10x	as long as short