Funding arb · Price arb /

RAY

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.150%

Price spread now: SunX against Variational Omni+0.113%7-day average +0.034% · you sell dearer than you buy

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

Long on Variational Omni Short on SunX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.164%+$16 on $10k

Price spread, last 4 days (all we have)−0.180%−$18 · spread now +0.113%, 7d avg +0.034%

Together, before fees−0.016%+ Points / potential airdropVariational Omni: Active · farm board−$2 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 0.079% dearer against Variational Omni than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of +0.034%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni RAY	1.7523	0.0100	pay 0.0050% / 4h	21m 57s	$654K	$867K	—
Short	SunX RAY-USDT	1.7543	0.0100	get 0.0050% / 4h	21m 57s	—	$2.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.113%Rate

Funding earned: $0
Price spread: +0.113% → +0.034%: $7.87
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee SunX: 4 bp × 2 orders: −$8
Net: −$0.13
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 37 min ago; SunX: 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, 37 min ago	5.57 bp	doesn't fit	94.4 bp −$944	doesn't fit	doesn't fit
Sell SunX live order book, 5 min ago	45.31 bp	64.0 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
gTrade (Gains Network) RAY/USD	L +0.0001% / S +0.0056%	1h	1.7534	+0.064%	$3K	—	150x	as long as short
Injective RAY/USDC PERP	+0.0033%	1h	1.6428	−6.250%	$266	$25	5.5x	as long as short
MEXC RAY_USDT	+0.0050%	8h	1.7552	+0.164%	$11.7M	$2.5M	100x	as long as short
OKX RAY-USDT-SWAP	+0.0100%	8h	1.7540	+0.096%	$4.2M	$12.7M	20x	as long as short
Gate RAY_USDT	+0.0100%	4h	1.7552	+0.164%	$548K	$1.2M	25x	as long as short
KuCoin RAYUSDTM	+0.0100%	4h	1.7545	+0.124%	$1.8M	$834K	50x	as long as short
Bitget RAYUSDT	+0.0100%	4h	1.7552	+0.164%	$2.6M	$4.0M	25x	as long as short
Variational Omni RAYlong	+0.0100%	4h	1.7523	long leg	$654K	$867K	—
Bullet RAY-USD	+0.0100%	1h	1.7544	+0.117%	$66K	$28K	10x	as long as short
SunX RAY-USDTshort	+0.0100%	4h	1.7543	+0.113%	—	$2.4M	10x

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX RAY-USDT	+0.0100%	4h	1.7546	+0.130%	$13K	$90K	20x	as long as short
Lighter RAY	+0.0168%	1h	1.7565	+0.238%	$229K	$334K	5x	as long as short
BloFin RAY-USDT	+0.0220%	8h	1.7535	+0.067%	$242K	$873K	20x	as long as short
BingX RAY-USDT	+0.0744%	4h	1.7546	+0.130%	—	$2.0M	—	as long as short
Kraken Futures PF_RAYUSD	+0.1616%	1h	1.7604	+0.459%	$93K	$385K	10x	as long as short
Orderly PERP_RAY_USDC	+0.2172%	4h	1.7572	+0.278%	$310K	$396K	10x	as long as short