Funding arb · Price arb /

RAY

all RAY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Gate against SunX+0.272%7-day average −0.018% · you sell dearer than you buy

Net, funding: paid 7d − costs−$292as in the Funding arb table

Net, price: spread back to 7d avg − costs−$251as in the Price arb table

costs, in and out, $10k−$2802.796% of the position

Long on SunX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.124%−$12 on $10k

Price spread, last 3 days (all we have)−0.194%−$19 · spread now +0.272%, 7d avg −0.018%

Together, before fees−0.319%−$32 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: Gate is 0.290% dearer against SunX than usual: you sell high and buy low, +$29 on $10k if it goes back to its 7-day average of −0.018%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX RAY-USDT	1.8004	0.0100	pay 0.0050% / 4h	2h 22m	—	$2.5M	10x
Short	Gate RAY_USDT	1.8053	0.0100	get 0.0050% / 4h	2h 22m	$562K	$1.1M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against SunX. 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 SunXbpFee GatebpOrdersPrice spread, now +0.272%Rate

Funding earned: $0
Price spread: +0.272% → −0.018%: $29
Slippage, 4 orders: −$256.65
Fee SunX: 4 bp × 2 orders: −$8
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$250.65
Costs to cover: 2.796%
Break-even: never at this rate

Slippage from SunX: live order book, 4 min ago; Gate: live order book, 4 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 SunX live order book, 4 min ago	46.22 bp	64.7 bp −$65	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 4 min ago	5.82 bp	63.5 bp −$64	doesn't fit	doesn't fit	doesn't fit

RAY on 15 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	1.8002	−0.008%	$1K	—	150x	as long as short
Kraken Futures PF_RAYUSD	+0.0010%	1h	1.8067	+0.348%	$89K	$447K	10x	as long as short
Injective RAY/USDC PERP	+0.0033%	1h	1.6428	−8.754%	$266	$25	5.5x	as long as short
OKX RAY-USDT-SWAP	+0.0100%	8h	1.8059	+0.305%	$4.5M	$13.1M	20x	as long as short
Gate RAY_USDTshort	+0.0100%	4h	1.8053	+0.272%	$562K	$1.1M	25x
KuCoin RAYUSDTM	+0.0100%	4h	1.8055	+0.283%	$1.9M	$778K	50x	as long as short
Bitget RAYUSDT	+0.0100%	4h	1.8075	+0.394%	$2.6M	$3.6M	25x	as long as short
Variational Omni RAY	+0.0100%	4h	1.8058	+0.300%	$707K	$985K	—	as long as short
Bullet RAY-USD	+0.0100%	1h	1.8000	−0.024%	$68K	$66K	10x	as long as short
SunX RAY-USDTlong	+0.0100%	4h	1.8004	long leg	—	$2.5M	10x

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX RAY-USDT	+0.0100%	4h	1.8002	−0.011%	$13K	$102K	20x	as long as short
Lighter RAY	+0.0352%	1h	1.8083	+0.439%	$268K	$286K	5x	as long as short
BingX RAY-USDT	+0.0490%	4h	1.8061	+0.317%	—	$2.0M	—	as long as short
MEXC RAY_USDT	+0.0500%	8h	1.8069	+0.361%	$12.8M	$2.5M	100x	as long as short
Orderly PERP_RAY_USDC	+0.0608%	4h	1.8021	+0.094%	$254K	$248K	10x	as long as short