Funding arb · Price arb /

RAY

all RAY markets

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 −0.006%

Price spread now: KuCoin against SunX+0.150%7-day average −0.005% · you sell dearer than you buy

Net, funding: paid 7d − costs−$340as in the Funding arb table

Net, price: spread back to 7d avg − costs−$318as in the Price arb table

costs, in and out, $10k−$3343.337% of the position

Long on SunX Short on KuCoin

What this pair did over the last

the charts below follow

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

Price spread, last 3 days (all we have)+0.012%+$1 · spread now +0.150%, 7d avg −0.005%

Together, before fees−0.052%−$5 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: KuCoin is 0.155% dearer against SunX than usual: you sell high and buy low, +$16 on $10k if it goes back to its 7-day average of −0.005%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX RAY-USDT	1.7954	0.0100	pay 0.0050% / 4h	2h 50m	—	$2.5M	10x
Short	KuCoin RAYUSDTM	1.7981	0.0100	get 0.0050% / 4h	2h 50m	$1.9M	$770K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.150%Rate

Funding earned: $0
Price spread: +0.150% → −0.005%: $15.54
Slippage, 4 orders: −$313.66
Fee SunX: 4 bp × 2 orders: −$8
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$318.11
Costs to cover: 3.337%
Break-even: never at this rate

Slippage from SunX: live order book, 6 min ago; KuCoin: 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 SunX live order book, 6 min ago	80.76 bp	98.6 bp −$99	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 1 min ago	10.29 bp	68.6 bp −$69	330.0 bp −$3,300	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	1.7954	0.000%	$2K	—	150x	as long as short
Kraken Futures PF_RAYUSD	+0.0010%	1h	1.8038	+0.470%	$89K	$446K	10x	as long as short
Injective RAY/USDC PERP	+0.0033%	1h	1.6428	−8.499%	$266	$25	5.5x	as long as short
OKX RAY-USDT-SWAP	+0.0100%	8h	1.7955	+0.006%	$4.5M	$13.1M	20x	as long as short
Gate RAY_USDT	+0.0100%	4h	1.7967	+0.072%	$557K	$1.1M	25x	as long as short
KuCoin RAYUSDTMshort	+0.0100%	4h	1.7981	+0.150%	$1.9M	$770K	50x
Bitget RAYUSDT	+0.0100%	4h	1.7965	+0.061%	$2.6M	$3.7M	25x	as long as short
BingX RAY-USDT	+0.0100%	4h	1.7971	+0.095%	—	$2.0M	—	as long as short
Variational Omni RAY	+0.0100%	4h	1.7949	−0.029%	$702K	$1.0M	—	as long as short
Bullet RAY-USD	+0.0100%	1h	1.7958	+0.022%	$67K	$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-USDTlong	+0.0100%	4h	1.7954	long leg	—	$2.5M	10x
HTX RAY-USDT	+0.0100%	4h	1.7943	−0.061%	$13K	$108K	20x	as long as short
Lighter RAY	+0.0136%	1h	1.8010	+0.312%	$268K	$282K	5x	as long as short
BloFin RAY-USDT	+0.0220%	8h	1.7939	−0.084%	$259K	$868K	20x	as long as short
MEXC RAY_USDT	+0.0279%	8h	1.7993	+0.217%	$12.8M	$2.5M	100x	as long as short
Orderly PERP_RAY_USDC	+0.0580%	4h	1.7980	+0.145%	$253K	$249K	10x	as long as short