Funding arb · Price arb /

RAY

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0099%/8h= +10.9% APRpaid last 24h +0.024%

Price spread now: KuCoin against gTrade (Gains Network)−0.014%7-day average — · you buy dearer than you sell

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

Long on gTrade (Gains Network)Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) RAY/USD	1.8429	L +0.0001% / S +0.0056%	pay 0.0000% / 1h	24m 05s	$2K	—	150x
Short	KuCoin RAYUSDTM	1.8426	0.0100	get 0.0050% / 4h	1h 24m	$2.0M	$763K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee KuCoinbpOrdersPrice spread, now −0.014%Rate

Funding earned: $20.88
Price spread: −0.014% → 0.000%: −$1.36
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$2.47
Costs to cover: 0.220%
Break-even: 7.8 days

Slippage unknown: gTrade (Gains Network): no order-book sample; KuCoin: live order book, 2 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell KuCoin live order book, 2 min ago	7.86 bp	30.4 bp −$30	314.6 bp −$3,146	doesn't fit	doesn't fit

gTrade (Gains Network): no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.2290%	1h	1.8433	+0.022%	$99K	$443K	10x	as long as short
MEXC RAY_USDT	−0.0423%	8h	1.8407	−0.117%	$13.5M	$2.5M	100x	as long as short
gTrade (Gains Network) RAY/USDlong	L +0.0001% / S +0.0056%	1h	1.8429	long leg	$2K	—	150x
Injective RAY/USDC PERP	+0.0033%	1h	1.6428	−10.855%	$266	$25	5.5x	as long as short
Lighter RAY	+0.0096%	1h	1.8441	+0.068%	$298K	$251K	5x	as long as short
OKX RAY-USDT-SWAP	+0.0100%	8h	1.8395	−0.182%	$4.6M	$13.3M	20x	as long as short
Gate RAY_USDT	+0.0100%	4h	1.8399	−0.160%	$575K	$1.1M	25x	as long as short
KuCoin RAYUSDTMshort	+0.0100%	4h	1.8426	−0.014%	$2.0M	$763K	50x
Bitget RAYUSDT	+0.0100%	4h	1.8404	−0.133%	$2.7M	$3.5M	25x	as long as short
BingX RAY-USDT	+0.0100%	4h	1.8416	−0.068%	—	$2.0M	—	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni RAY	+0.0100%	4h	1.8465	+0.196%	$734K	$1.0M	—	as long as short
Bullet RAY-USD	+0.0100%	1h	1.8429	+0.003%	$108K	$47K	10x	as long as short
SunX RAY-USDT	+0.0100%	4h	1.8430	+0.008%	—	$2.6M	10x	as long as short
HTX RAY-USDT	+0.0100%	4h	1.8443	+0.079%	$15K	$135K	20x	as long as short
BloFin RAY-USDT	+0.0220%	8h	1.8439	+0.057%	$260K	$868K	20x	as long as short
Orderly PERP_RAY_USDC	+0.0481%	4h	1.8426	−0.014%	$255K	$248K	10x	as long as short