Funding arb · Price arb /

RAY

all RAY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: SunX against Bitget−0.050%7-day average −0.009% · you buy dearer than you sell

Net, funding: paid 7d − costs−$164as in the Funding arb table

Net, price: spread back to 7d avg − costs−$170as in the Price arb table

costs, in and out, $10k−$1651.654% of the position

Long on Bitget Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.017%+$2 on $10k

Price spread, last 4 days (all we have)+0.165%+$17 · spread now −0.050%, 7d avg −0.009%

Together, before fees+0.182%+$18 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 0.041% cheaper against Bitget than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.009%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget RAYUSDT	1.8081	0.0100	pay 0.0050% / 4h	3h 03m	$2.7M	$3.7M	25x
Short	SunX RAY-USDT	1.8072	0.0100	get 0.0050% / 4h	3h 03m	—	$2.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against Bitget. 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 BitgetbpFee SunXbpOrdersPrice spread, now −0.050%Rate

Funding earned: $0
Price spread: −0.050% → −0.009%: −$4.11
Slippage, 4 orders: −$145.4
Fee Bitget: 6 bp × 2 orders: −$12
Fee SunX: 4 bp × 2 orders: −$8
Net: −$169.5
Costs to cover: 1.654%
Break-even: never at this rate

Slippage from Bitget: live order book, 5 min ago; SunX: live order book, 3 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 Bitget live order book, 5 min ago	3.87 bp	22.3 bp −$22	77.3 bp −$773	doesn't fit	doesn't fit
Sell SunX live order book, 3 min ago	45.04 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	1.8065	−0.090%	$1K	—	150x	as long as short
Injective RAY/USDC PERP	+0.0033%	1h	1.6428	−9.142%	$266	$25	5.5x	as long as short
MEXC RAY_USDT	+0.0050%	8h	1.8083	+0.011%	$11.8M	$2.6M	100x	as long as short
OKX RAY-USDT-SWAP	+0.0100%	8h	1.8068	−0.072%	$4.3M	$12.8M	20x	as long as short
Gate RAY_USDT	+0.0100%	4h	1.8079	−0.011%	$579K	$1.1M	25x	as long as short
KuCoin RAYUSDTM	+0.0100%	4h	1.8048	−0.183%	$1.8M	$838K	50x	as long as short
Bitget RAYUSDTlong	+0.0100%	4h	1.8081	long leg	$2.7M	$3.7M	25x
BingX RAY-USDT	+0.0100%	4h	1.8070	−0.061%	—	$2.0M	—	as long as short
Variational Omni RAY	+0.0100%	4h	1.8076	−0.028%	$639K	$796K	—	as long as short
Bullet RAY-USD	+0.0100%	1h	1.8072	−0.050%	$68K	$26K	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-USDTshort	+0.0100%	4h	1.8072	−0.050%	—	$2.1M	10x
HTX RAY-USDT	+0.0100%	4h	1.8070	−0.061%	$13K	$85K	20x	as long as short
BloFin RAY-USDT	+0.0117%	8h	1.8072	−0.050%	$240K	$879K	20x	as long as short
Lighter RAY	+0.0320%	1h	1.8093	+0.066%	$234K	$340K	5x	as long as short
Kraken Futures PF_RAYUSD	+0.1919%	1h	1.8116	+0.192%	$111K	$398K	10x	as long as short
Orderly PERP_RAY_USDC	+0.2151%	4h	1.8103	+0.122%	$320K	$379K	10x	as long as short