Funding arb · Price arb /

RAY

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0099%/8h= +10.9% APRpaid last 24h +0.024%

Price spread now: KuCoin against gTrade (Gains Network)+0.048%7-day average — · you sell dearer than you buy

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

Long on gTrade (Gains Network)Short on KuCoin

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

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and KuCoin is 0.048% dearer against gTrade (Gains Network) than usual: you sell high and buy low: +$5 more if the spread 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	gTrade (Gains Network) RAY/USD	1.8079	L +0.0001% / S +0.0056%	pay 0.0000% / 1h	58m 23s	$2K	—	150x
Short	KuCoin RAYUSDTM	1.8088	0.0100	get 0.0050% / 4h	2h 58m	$2.0M	$772K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee KuCoinbpOrdersPrice spread, now +0.048%Rate

Funding earned: $20.88
Price spread: +0.048% → 0.000%: $4.81
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: $3.7
Costs to cover: 0.220%
Break-even: 5.8 days

Slippage unknown: gTrade (Gains Network): no order-book sample; KuCoin: live order book, 3 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell KuCoin live order book, 3 min ago	9.63 bp	33.1 bp −$33	308.9 bp −$3,089	doesn't fit	doesn't fit

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/USDlong	L +0.0001% / S +0.0056%	1h	1.8079	long leg	$2K	—	150x
Kraken Futures PF_RAYUSD	+0.0010%	1h	1.8211	+0.726%	$91K	$444K	10x	as long as short
Injective RAY/USDC PERP	+0.0033%	1h	1.6428	−9.134%	$266	$25	5.5x	as long as short
MEXC RAY_USDT	+0.0050%	8h	1.8102	+0.126%	$12.7M	$2.5M	100x	as long as short
OKX RAY-USDT-SWAP	+0.0100%	8h	1.8089	+0.054%	$4.5M	$13.2M	20x	as long as short
Gate RAY_USDT	+0.0100%	4h	1.8039	−0.223%	$557K	$1.1M	25x	as long as short
KuCoin RAYUSDTMshort	+0.0100%	4h	1.8088	+0.048%	$2.0M	$772K	50x
Bitget RAYUSDT	+0.0100%	4h	1.8115	+0.197%	$2.6M	$3.7M	25x	as long as short
BingX RAY-USDT	+0.0100%	4h	1.8104	+0.137%	—	$2.0M	—	as long as short
Variational Omni RAY	+0.0100%	4h	1.8181	+0.562%	$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	1.8113	+0.186%	$68K	$66K	10x	as long as short
SunX RAY-USDT	+0.0100%	4h	1.8165	+0.474%	—	$2.5M	10x	as long as short
HTX RAY-USDT	+0.0100%	4h	1.8146	+0.369%	$13K	$107K	20x	as long as short
BloFin RAY-USDT	+0.0220%	8h	1.8139	+0.330%	$259K	$878K	20x	as long as short
Lighter RAY	+0.0280%	1h	1.8059	−0.112%	$269K	$281K	5x	as long as short
Orderly PERP_RAY_USDC	+0.0578%	4h	1.8106	+0.148%	$257K	$247K	10x	as long as short