Funding arb · Price arb /

RAY

all RAY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: SunX against HTX+0.114%7-day average +0.022% · you sell dearer than you buy

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

Long on HTX Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 3 days (all we have)−0.337%−$34 · spread now +0.114%, 7d avg +0.022%

Together, before fees−0.337%−$34 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: SunX is 0.092% dearer against HTX than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of +0.022%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX RAY-USDT	1.8436	0.0100	pay 0.0050% / 4h	1h 14m	$15K	$133K	20x
Short	SunX RAY-USDT	1.8457	0.0100	get 0.0050% / 4h	1h 14m	—	$2.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against HTX. 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 HTXbpFee SunXbpOrdersPrice spread, now +0.114%Rate

Funding earned: $0
Price spread: +0.114% → +0.022%: $9.22
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee SunX: 4 bp × 2 orders: −$8
Net: −$10.78
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: HTX: live order book, 1 min ago; SunX: live order book, 1 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 HTX live order book, 1 min ago	63.62 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell SunX live order book, 1 min ago	45.52 bp	64.3 bp −$64	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
Kraken Futures PF_RAYUSD	−0.2288%	1h	1.8451	+0.081%	$99K	$438K	10x	as long as short
MEXC RAY_USDT	−0.0279%	8h	1.8457	+0.114%	$13.5M	$2.5M	100x	as long as short
gTrade (Gains Network) RAY/USD	L +0.0001% / S +0.0056%	1h	1.8444	+0.045%	$2K	—	150x	as long as short
Injective RAY/USDC PERP	+0.0033%	1h	1.6428	−10.892%	$266	$25	5.5x	as long as short
Lighter RAY	+0.0096%	1h	1.8480	+0.239%	$299K	$253K	5x	as long as short
OKX RAY-USDT-SWAP	+0.0100%	8h	1.8451	+0.081%	$4.6M	$13.3M	20x	as long as short
Gate RAY_USDT	+0.0100%	4h	1.8437	+0.005%	$575K	$1.1M	25x	as long as short
KuCoin RAYUSDTM	+0.0100%	4h	1.8444	+0.043%	$2.0M	$762K	50x	as long as short
Bitget RAYUSDT	+0.0100%	4h	1.8452	+0.087%	$2.7M	$3.5M	25x	as long as short
BingX RAY-USDT	+0.0100%	4h	1.8462	+0.141%	—	$2.0M	—	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni RAY	+0.0100%	4h	1.8430	−0.034%	$732K	$1.0M	—	as long as short
Bullet RAY-USD	+0.0100%	1h	1.8450	+0.074%	$108K	$47K	10x	as long as short
SunX RAY-USDTshort	+0.0100%	4h	1.8457	+0.114%	—	$2.6M	10x
HTX RAY-USDTlong	+0.0100%	4h	1.8436	long leg	$15K	$133K	20x
BloFin RAY-USDT	+0.0220%	8h	1.8435	−0.005%	$260K	$868K	20x	as long as short
Orderly PERP_RAY_USDC	+0.0502%	4h	1.8448	+0.065%	$256K	$248K	10x	as long as short