Funding arb · Price arb /

RAY

all RAY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.006%

Price spread now: KuCoin against Gate+0.038%7-day average +0.015% · you sell dearer than you buy

Net, funding: paid 7d − costs−$163as in the Funding arb table

Net, price: spread back to 7d avg − costs−$167as in the Price arb table

costs, in and out, $10k−$1701.695% of the position

Long on Gate Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.060%+$6 on $10k

Price spread, last 7 days−0.024%−$2 · spread now +0.038%, 7d avg +0.015%

Together, before fees+0.037%+$4 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: KuCoin is 0.023% dearer against Gate than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of +0.015%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate RAY_USDT	1.8443	0.0100	pay 0.0050% / 4h	1h 13m	$575K	$1.1M	25x
Short	KuCoin RAYUSDTM	1.8450	0.0100	get 0.0050% / 4h	1h 13m	$2.0M	$762K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Gate. 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 GatebpFee KuCoinbpOrdersPrice spread, now +0.038%Rate

Funding earned: $0
Price spread: +0.038% → +0.015%: $2.34
Slippage, 4 orders: −$142.53
Fee Gate: 7.5 bp × 2 orders: −$15
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$167.2
Costs to cover: 1.695%
Break-even: never at this rate

Slippage from Gate: live order book, 3 min ago; KuCoin: 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 Gate live order book, 3 min ago	6.79 bp	38.7 bp −$39	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 3 min ago	8.13 bp	25.9 bp −$26	323.1 bp −$3,231	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
Kraken Futures PF_RAYUSD	−0.2296%	1h	1.8388	−0.300%	$99K	$438K	10x	as long as short
gTrade (Gains Network) RAY/USD	L +0.0001% / S +0.0056%	1h	1.8440	−0.016%	$2K	—	150x	as long as short
Injective RAY/USDC PERP	+0.0033%	1h	1.6428	−10.926%	$266	$25	5.5x	as long as short
MEXC RAY_USDT	+0.0050%	8h	1.8453	+0.054%	$13.5M	$2.5M	100x	as long as short
Lighter RAY	+0.0096%	1h	1.8477	+0.184%	$299K	$253K	5x	as long as short
OKX RAY-USDT-SWAP	+0.0100%	8h	1.8418	−0.136%	$4.6M	$13.2M	20x	as long as short
Gate RAY_USDTlong	+0.0100%	4h	1.8443	long leg	$575K	$1.1M	25x
KuCoin RAYUSDTMshort	+0.0100%	4h	1.8450	+0.038%	$2.0M	$762K	50x
Bitget RAYUSDT	+0.0100%	4h	1.8449	+0.033%	$2.7M	$3.5M	25x	as long as short
BingX RAY-USDT	+0.0100%	4h	1.8459	+0.087%	—	$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	1.8430	−0.072%	$732K	$1.0M	—	as long as short
Bullet RAY-USD	+0.0100%	1h	1.8446	+0.018%	$108K	$47K	10x	as long as short
SunX RAY-USDT	+0.0100%	4h	1.8463	+0.108%	—	$2.6M	10x	as long as short
HTX RAY-USDT	+0.0100%	4h	1.8488	+0.244%	$15K	$133K	20x	as long as short
BloFin RAY-USDT	+0.0220%	8h	1.8435	−0.043%	$260K	$868K	20x	as long as short
Orderly PERP_RAY_USDC	+0.0505%	4h	1.8464	+0.114%	$256K	$248K	10x	as long as short