Funding arb · Price arb /

RAY

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0156%/8h= −17.0% APRpaid last 24h −0.047%

Price spread now: gTrade (Gains Network) against HTX0.000%7-day average — · you sell dearer than you buy

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

Long on HTX Short on gTrade (Gains Network)

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: −$5 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX RAY-USDT	1.7905	0.0100	pay 0.0050% / 4h	2h 42m	$13K	$106K	20x
Short	gTrade (Gains Network) RAY/USD	1.7905	L +0.0001% / S +0.0056%	pay 0.0007% / 1h	42m 49s	$2K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against HTX. 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 HTXbpFee gTrade (Gains Network)bpOrdersPrice spread, now 0.000%Rate

Funding earned: −$32.67
Price spread: 0.000% → 0.000%: $0
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$54.67
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: HTX: live order book, 23 min ago; gTrade (Gains Network): no order-book sample. 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 HTX live order book, 23 min ago	49.23 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

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
gTrade (Gains Network) RAY/USDshort	L +0.0001% / S +0.0056%	1h	1.7905	0.000%	$2K	—	150x
Kraken Futures PF_RAYUSD	+0.0010%	1h	1.7947	+0.236%	$89K	$445K	10x	as long as short
Injective RAY/USDC PERP	+0.0033%	1h	1.6428	−8.249%	$266	$25	5.5x	as long as short
Lighter RAY	+0.0096%	1h	1.7873	−0.179%	$266K	$285K	5x	as long as short
OKX RAY-USDT-SWAP	+0.0100%	8h	1.7858	−0.262%	$4.5M	$13.1M	20x	as long as short
Gate RAY_USDT	+0.0100%	4h	1.7856	−0.274%	$554K	$1.1M	25x	as long as short
KuCoin RAYUSDTM	+0.0100%	4h	1.7884	−0.117%	$1.9M	$773K	50x	as long as short
Bitget RAYUSDT	+0.0100%	4h	1.7856	−0.274%	$2.6M	$3.7M	25x	as long as short
BingX RAY-USDT	+0.0100%	4h	1.7852	−0.296%	—	$2.0M	—	as long as short
Variational Omni RAY	+0.0100%	4h	1.7912	+0.038%	$702K	$1.0M	—	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bullet RAY-USD	+0.0100%	1h	1.7916	+0.061%	$67K	$66K	10x	as long as short
SunX RAY-USDT	+0.0100%	4h	1.7910	+0.028%	—	$2.5M	10x	as long as short
HTX RAY-USDTlong	+0.0100%	4h	1.7905	long leg	$13K	$106K	20x
BloFin RAY-USDT	+0.0220%	8h	1.7974	+0.385%	$261K	$870K	20x	as long as short
MEXC RAY_USDT	+0.0284%	8h	1.7859	−0.257%	$12.7M	$2.5M	100x	as long as short
Orderly PERP_RAY_USDC	+0.0583%	4h	1.7917	+0.067%	$252K	$248K	10x	as long as short