Funding arb · Price arb /

RAY

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h +0.100%

Price spread now: MEXC against Variational Omni+0.062%7-day average +0.023% · you sell dearer than you buy

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

Long on Variational Omni Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.201%+$20 on $10k

Price spread, last 7 days−0.061%−$6 · spread now +0.062%, 7d avg +0.023%

Together, before fees+0.140%+ Points / potential airdropVariational Omni: Active · farm board+$14 on $10k · with fees, hour by hour

The price spread pays, funding is against you. MEXC is 0.039% dearer against Variational Omni than usual: you sell high and buy low (spread +0.062% now, against its 7-day average of +0.023%): +$4 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 2.6 days. Mind the row above: over the last 3 days funding on this pair paid +0.201%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni RAY	1.8163	0.0100	pay 0.0050% / 4h	3h 33m	$710K	$1.0M	—
Short	MEXC RAY_USDT	1.8174	0.0050	get 0.0050% / 8h	7h 33m	$12.9M	$2.5M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpFee MEXCbpOrdersPrice spread, now +0.062%Rate

Funding earned: −$10.5
Price spread: +0.062% → +0.023%: $3.94
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$10.56
Costs to cover: 0.040%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 1 min ago; MEXC: live order book, 5 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 Variational Omni RFQ quote, 1 min ago	4.10 bp	doesn't fit	109.5 bp −$1,095	doesn't fit	doesn't fit
Sell MEXC live order book, 5 min ago	1.93 bp	6.3 bp −$6	45.4 bp −$454	119.5 bp −$12.0K	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	−0.1800%	1h	1.8155	−0.042%	$96K	$434K	10x	as long as short
gTrade (Gains Network) RAY/USD	L +0.0001% / S +0.0056%	1h	1.8178	+0.087%	$2K	—	150x	as long as short
Injective RAY/USDC PERP	+0.0033%	1h	1.6428	−9.551%	$266	$25	5.5x	as long as short
MEXC RAY_USDTshort	+0.0050%	8h	1.8174	+0.062%	$12.9M	$2.5M	100x
OKX RAY-USDT-SWAP	+0.0100%	8h	1.8150	−0.070%	$4.6M	$13.1M	20x	as long as short
Gate RAY_USDT	+0.0100%	4h	1.8184	+0.117%	$566K	$1.1M	25x	as long as short
KuCoin RAYUSDTM	+0.0100%	4h	1.8192	+0.161%	$2.0M	$764K	50x	as long as short
Bitget RAYUSDT	+0.0100%	4h	1.8163	+0.002%	$2.6M	$3.6M	25x	as long as short
Variational Omni RAYlong	+0.0100%	4h	1.8163	long leg	$710K	$1.0M	—
Bullet RAY-USD	+0.0100%	1h	1.8180	+0.095%	$107K	$44K	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	1.8195	+0.178%	—	$2.6M	10x	as long as short
HTX RAY-USDT	+0.0100%	4h	1.8160	−0.015%	$15K	$110K	20x	as long as short
Lighter RAY	+0.0168%	1h	1.8194	+0.172%	$275K	$280K	5x	as long as short
BingX RAY-USDT	+0.0210%	4h	1.8176	+0.073%	—	$2.0M	—	as long as short
BloFin RAY-USDT	+0.0220%	8h	1.8186	+0.128%	$255K	$869K	20x	as long as short
Orderly PERP_RAY_USDC	+0.0547%	4h	1.8195	+0.178%	$252K	$242K	10x	as long as short