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 +0.164%

Price spread now: HTX against Variational Omni+0.579%7-day average +0.011% · you sell dearer than you buy

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

Long on Variational Omni Short on HTX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.164%+$16 on $10k

Price spread, last 3 days (all we have)−0.490%−$49 · spread now +0.579%, 7d avg +0.011%

Together, before fees−0.326%+ Points / potential airdropVariational Omni: Active · farm board−$33 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: HTX is 0.568% dearer against Variational Omni than usual: you sell high and buy low, +$57 on $10k if it goes back to its 7-day average of +0.011%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni RAY	1.7822	0.0100	pay 0.0050% / 4h	1h 41m	$696K	$987K	—
Short	HTX RAY-USDT	1.7925	0.0100	get 0.0050% / 4h	1h 41m	$13K	$94K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpFee HTXbpOrdersPrice spread, now +0.579%Rate

Funding earned: $0
Price spread: +0.579% → +0.011%: $56.77
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee HTX: 6 bp × 2 orders: −$12
Net: $44.77
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 42 min ago; HTX: live order book, 84 min ago. 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 Variational Omni RFQ quote, 42 min ago	6.36 bp	doesn't fit	60.1 bp −$601	doesn't fit	doesn't fit
Sell HTX live order book, 84 min ago	49.23 bp	doesn't fit	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	1.7922	+0.565%	$1K	—	150x	as long as short
Injective RAY/USDC PERP	+0.0033%	1h	1.6428	−7.821%	$266	$25	5.5x	as long as short
MEXC RAY_USDT	+0.0050%	8h	1.7908	+0.483%	$12.5M	$2.4M	100x	as long as short
OKX RAY-USDT-SWAP	+0.0100%	8h	1.7890	+0.382%	$4.5M	$12.8M	20x	as long as short
Gate RAY_USDT	+0.0100%	4h	1.7919	+0.545%	$556K	$1.1M	25x	as long as short
KuCoin RAYUSDTM	+0.0100%	4h	1.7911	+0.500%	$1.9M	$775K	50x	as long as short
Bitget RAYUSDT	+0.0100%	4h	1.7904	+0.461%	$2.6M	$3.7M	25x	as long as short
BingX RAY-USDT	+0.0100%	4h	1.7908	+0.483%	—	$2.0M	—	as long as short
Variational Omni RAYlong	+0.0100%	4h	1.7822	long leg	$696K	$987K	—
Bullet RAY-USD	+0.0100%	1h	1.7940	+0.665%	$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-USDT	+0.0100%	4h	1.7939	+0.657%	—	$2.4M	10x	as long as short
HTX RAY-USDTshort	+0.0100%	4h	1.7925	+0.579%	$13K	$94K	20x
Lighter RAY	+0.0168%	1h	1.7930	+0.607%	$264K	$285K	5x	as long as short
BloFin RAY-USDT	+0.0220%	8h	1.7930	+0.607%	$254K	$865K	20x	as long as short
Orderly PERP_RAY_USDC	+0.0562%	4h	1.7935	+0.635%	$218K	$285K	10x	as long as short
Kraken Futures PF_RAYUSD	+0.0777%	1h	1.7909	+0.490%	$90K	$452K	10x	as long as short