RAY

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0170%/8h= +18.6% APRnext payment +$1.70 per $10,000 · paid last 24h +0.080%

Price spread now: BloFin against MEXC−0.124%7-day average −0.045% · you buy dearer than you sell

Net, funding: paid 7d − costs+$21as in the Funding arb table

Net, price: spread back to 7d avg − costs−$72as in the Price arb table

costs, in and out, $10k−$640.639% of the position

Long on MEXC Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.852%+$85 on $10k

Price spread, last 3 days (all we have)+0.228%+$23 · spread now −0.124%, 7d avg −0.045%

Together, before fees+1.081%+$108 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.079% cheaper against MEXC than usual: you would sell low and buy high (spread −0.124% now, against its 7-day average of −0.045%). If the spread goes back, that is −$8 on $10k: about 37 hours of funding at the current rate (+$5 a day). At the pace of the last 7 days (+0.852% in total) that is about 16 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC RAY_USDT	1.8498	0.0050	pay 0.0050% / 8h	3h 32m	$14.2M	$2.4M	100x
Short	BloFin RAY-USDT	1.8475	0.0220	get 0.0220% / 8h	3h 32m	$257K	$825K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against MEXC. 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 MEXCbpFee BloFinbpOrdersPrice spread, now −0.124%Rate

Funding earned: $35.7
Price spread: −0.124% → −0.045%: −$7.93
Slippage, 4 orders: −$47.94
Fee MEXC: 2 bp × 2 orders: −$4
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$36.17
Costs to cover: 0.639%
Break-even: 14.1 days

Slippage from MEXC: live order book, 1 min ago; BloFin: live order book, 14 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 MEXC live order book, 1 min ago	4.33 bp	8.8 bp −$9	50.8 bp −$508	118.2 bp −$11.8K	doesn't fit
Sell BloFin live order book, 14 min ago	3.52 bp	25.3 bp −$25	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	−0.1371%	1h	1.8528	+0.160%	$111K	$414K	10x	as long as short
gTrade (Gains Network) RAY/USD	L +0.0001% / S +0.0056%	1h	1.8486	−0.066%	$1K	—	150x	as long as short
Injective RAY/USDC PERP	+0.0033%	1h	1.6428	−11.190%	$266	$25	5.5x	as long as short
MEXC RAY_USDTlong	+0.0050%	8h	1.8498	long leg	$14.2M	$2.4M	100x
OKX RAY-USDT-SWAP	+0.0100%	8h	1.8484	−0.076%	$4.7M	$13.4M	20x	as long as short
Gate RAY_USDT	+0.0100%	4h	1.8473	−0.135%	$608K	$1.1M	25x	as long as short
KuCoin RAYUSDTM	+0.0100%	4h	1.8493	−0.027%	$2.1M	$760K	50x	as long as short
Bitget RAYUSDT	+0.0100%	4h	1.8498	0.000%	$2.7M	$3.3M	25x	as long as short
Variational Omni RAY	+0.0100%	4h	1.8563	+0.353%	$710K	$1.0M	—	as long as short
Bullet RAY-USD	+0.0100%	1h	1.8488	−0.054%	$109K	$46K	10x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX RAY-USDT	+0.0100%	4h	1.8480	−0.097%	—	$2.6M	10x	as long as short
HTX RAY-USDT	+0.0100%	4h	1.8467	−0.168%	$15K	$163K	20x	as long as short
Orderly PERP_RAY_USDC	+0.0168%	4h	1.8503	+0.027%	$257K	$236K	10x	as long as short
BloFin RAY-USDTshort	+0.0220%	8h	1.8475	−0.124%	$257K	$825K	20x
BingX RAY-USDT	+0.0666%	4h	1.8495	−0.016%	—	$1.9M	—	as long as short
Lighter RAY	+0.1128%	1h	1.8541	+0.232%	$344K	$226K	5x	as long as short