Funding arb · Price arb /

RAY

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0156%/8h= −17.0% APRpaid last 24h −0.047%

Price spread now: gTrade (Gains Network) against Gate−0.022%7-day average — · you buy dearer than you sell

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

Long on Gate Short on gTrade (Gains Network)

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 against this trade now: funding costs −$5 a day on $10k at the current rate, and gTrade (Gains Network) is 0.022% cheaper against Gate than usual: you would sell low and buy high (−$2 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate RAY_USDT	1.8087	0.0100	pay 0.0050% / 4h	2h 04m	$572K	$1.1M	25x
Short	gTrade (Gains Network) RAY/USD	1.8083	L +0.0001% / S +0.0056%	pay 0.0007% / 1h	4m 16s	$1K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against Gate. 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 GatebpFee gTrade (Gains Network)bpOrdersPrice spread, now −0.022%Rate

Funding earned: −$32.67
Price spread: −0.022% → 0.000%: −$2.21
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$59.88
Costs to cover: 0.250%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 3 min ago; gTrade (Gains Network): 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 Gate live order book, 3 min ago	3.04 bp	41.7 bp −$42	doesn't fit	doesn't fit	doesn't fit
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

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
MEXC RAY_USDT	−0.0324%	8h	1.8087	0.000%	$13.3M	$2.5M	100x	as long as short
Kraken Futures PF_RAYUSD	−0.0048%	1h	1.8063	−0.135%	$97K	$453K	10x	as long as short
gTrade (Gains Network) RAY/USDshort	L +0.0001% / S +0.0056%	1h	1.8083	−0.022%	$1K	—	150x
Injective RAY/USDC PERP	+0.0033%	1h	1.6428	−9.172%	$266	$25	5.5x	as long as short
OKX RAY-USDT-SWAP	+0.0100%	8h	1.8121	+0.188%	$4.6M	$13.1M	20x	as long as short
Gate RAY_USDTlong	+0.0100%	4h	1.8087	long leg	$572K	$1.1M	25x
KuCoin RAYUSDTM	+0.0100%	4h	1.8091	+0.022%	$2.0M	$762K	50x	as long as short
Bitget RAYUSDT	+0.0100%	4h	1.8089	+0.011%	$2.6M	$3.4M	25x	as long as short
BingX RAY-USDT	+0.0100%	4h	1.8080	−0.039%	—	$2.0M	—	as long as short
Variational Omni RAY	+0.0100%	4h	1.8080	−0.038%	$710K	$1.1M	—	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	1.8080	−0.041%	$106K	$47K	10x	as long as short
SunX RAY-USDT	+0.0100%	4h	1.8081	−0.033%	—	$2.6M	10x	as long as short
HTX RAY-USDT	+0.0100%	4h	1.8091	+0.022%	$15K	$143K	20x	as long as short
BloFin RAY-USDT	+0.0220%	8h	1.8083	−0.022%	$258K	$853K	20x	as long as short
Orderly PERP_RAY_USDC	+0.0420%	4h	1.8106	+0.105%	$251K	$250K	10x	as long as short
Lighter RAY	+0.0488%	1h	1.8124	+0.205%	$296K	$267K	5x	as long as short