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 −0.034%

Price spread now: HTX against BingX+0.050%7-day average — · you sell dearer than you buy

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

Long on BingX Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.209%−$21 on $10k

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

Together, before fees—needs both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: HTX is 0.050% dearer against BingX than usual: you sell high and buy low, +$5 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX RAY-USDT	1.8003	0.0100	pay 0.0050% / 4h	15m 32s	—	$2.0M	—
Short	HTX RAY-USDT	1.8012	0.0100	get 0.0050% / 4h	15m 32s	$13K	$90K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against BingX. 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 BingXbpFee HTXbpOrdersPrice spread, now +0.050%Rate

Funding earned: $0
Price spread: +0.050% → 0.000%: $5
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$17
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: BingX: live order book, 2 min ago; HTX: 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 BingX live order book, 2 min ago	2.49 bp	21.0 bp −$21	50.0 bp −$500	373.4 bp −$37.3K	725.2 bp −$362.6K
Sell HTX no order-book sample	—	—	—	—	—

HTX: 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
Kraken Futures PF_RAYUSD	−0.3803%	1h	1.7972	−0.173%	$90K	$426K	10x	as long as short
gTrade (Gains Network) RAY/USD	L +0.0001% / S +0.0056%	1h	1.7993	−0.054%	$1K	—	150x	as long as short
Injective RAY/USDC PERP	+0.0033%	1h	1.6428	−8.749%	$266	$25	5.5x	as long as short
MEXC RAY_USDT	+0.0050%	8h	1.7989	−0.078%	$12.6M	$2.5M	100x	as long as short
OKX RAY-USDT-SWAP	+0.0100%	8h	1.7995	−0.044%	$4.4M	$12.9M	20x	as long as short
Gate RAY_USDT	+0.0100%	4h	1.7995	−0.044%	$578K	$1.1M	25x	as long as short
KuCoin RAYUSDTM	+0.0100%	4h	1.7987	−0.089%	$1.9M	$786K	50x	as long as short
Bitget RAYUSDT	+0.0100%	4h	1.7992	−0.061%	$2.6M	$3.7M	25x	as long as short
BingX RAY-USDTlong	+0.0100%	4h	1.8003	long leg	—	$2.0M	—
Variational Omni RAY	+0.0100%	4h	1.7989	−0.079%	$697K	$868K	—	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	1.7997	−0.033%	$68K	$66K	10x	as long as short
SunX RAY-USDT	+0.0100%	4h	1.8002	−0.006%	—	$2.4M	10x	as long as short
HTX RAY-USDTshort	+0.0100%	4h	1.8012	+0.050%	$13K	$90K	20x
BloFin RAY-USDT	+0.0220%	8h	1.8024	+0.117%	$253K	$905K	20x	as long as short
Lighter RAY	+0.0440%	1h	1.8019	+0.089%	$261K	$310K	5x	as long as short
Orderly PERP_RAY_USDC	+0.1207%	4h	1.8046	+0.239%	$324K	$400K	10x	as long as short