Funding arb · Price arb /

RAY

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0892%/8h= +97.7% APRpaid last 24h −0.064%

Price spread now: MEXC against Gate+0.051%7-day average +0.029% · you sell dearer than you buy

Net, funding: paid 7d − costs−$210as in the Funding arb table

Net, price: spread back to 7d avg − costs−$144as in the Price arb table

costs, in and out, $10k−$1471.467% of the position

Long on Gate Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.630%−$63 on $10k

Price spread, last 7 days−0.001%$0 · spread now +0.051%, 7d avg +0.029%

Together, before fees−0.630%−$63 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$27 a day on $10k at the current rate, and MEXC is 0.022% dearer against Gate than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of +0.029%. Mind the row above: over the last 7 days funding on this pair cost −0.630%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate RAY_USDT	1.7513	0.0100	pay 0.0050% / 4h	1h 55m	$546K	$1.2M	25x
Short	MEXC RAY_USDT	1.7522	0.0992	get 0.0992% / 8h	1h 55m	$11.8M	$2.6M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.051%Rate

Funding earned: $187.32
Price spread: +0.051% → +0.029%: $2.24
Slippage, 4 orders: −$127.71
Fee Gate: 7.5 bp × 2 orders: −$15
Fee MEXC: 2 bp × 2 orders: −$4
Net: $42.85
Costs to cover: 1.467%
Break-even: 5.4 days

Slippage from Gate: live order book, 2 min ago; MEXC: live order book, 3 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 Gate live order book, 2 min ago	6.00 bp	57.4 bp −$57	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 3 min ago	3.70 bp	8.7 bp −$9	40.5 bp −$405	111.4 bp −$11.1K	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	1.7508	−0.031%	$3K	—	150x	as long as short
Injective RAY/USDC PERP	+0.0033%	1h	1.6428	−6.195%	$266	$25	5.5x	as long as short
OKX RAY-USDT-SWAP	+0.0100%	8h	1.7526	+0.074%	$4.2M	$12.9M	20x	as long as short
Gate RAY_USDTlong	+0.0100%	4h	1.7513	long leg	$546K	$1.2M	25x
KuCoin RAYUSDTM	+0.0100%	4h	1.7510	−0.017%	$1.9M	$821K	50x	as long as short
Bitget RAYUSDT	+0.0100%	4h	1.7523	+0.057%	$2.6M	$4.0M	25x	as long as short
BingX RAY-USDT	+0.0100%	4h	1.7511	−0.011%	—	$2.0M	—	as long as short
Variational Omni RAY	+0.0100%	4h	1.7508	−0.026%	$674K	$870K	—	as long as short
Bullet RAY-USD	+0.0100%	1h	1.7513	0.000%	$66K	$28K	10x	as long as short
SunX RAY-USDT	+0.0100%	4h	1.7516	+0.017%	—	$2.4M	10x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX RAY-USDT	+0.0100%	4h	1.7516	+0.017%	$12K	$91K	20x	as long as short
BloFin RAY-USDT	+0.0220%	8h	1.7517	+0.023%	$199K	$934K	20x	as long as short
Lighter RAY	+0.0440%	1h	1.7550	+0.211%	$245K	$312K	5x	as long as short
MEXC RAY_USDTshort	+0.0992%	8h	1.7522	+0.051%	$11.8M	$2.6M	100x
Kraken Futures PF_RAYUSD	+0.1351%	1h	1.7561	+0.273%	$86K	$383K	10x	as long as short
Orderly PERP_RAY_USDC	+0.2183%	4h	1.7551	+0.217%	$306K	$396K	10x	as long as short