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% APRpaid last 24h −0.034%

Price spread now: OKX against HTX+0.061%7-day average −0.010% · you sell dearer than you buy

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

Long on HTX Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.094%−$9 on $10k

Price spread, last 3 days (all we have)−0.102%−$10 · spread now +0.061%, 7d avg −0.010%

Together, before fees−0.196%−$20 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: OKX is 0.071% dearer against HTX than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of −0.010%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX RAY-USDT	1.8091	0.0100	pay 0.0050% / 4h	2h 08m	$15K	$145K	20x
Short	OKX RAY-USDT-SWAP	1.8102	0.0100	get 0.0100% / 8h	2h 08m	$4.5M	$13.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.061%Rate

Funding earned: $0
Price spread: +0.061% → −0.010%: $7.1
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$14.9
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: HTX: live order book, 12 min ago; OKX: 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 HTX live order book, 12 min ago	41.56 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 5 min ago	3.57 bp	32.6 bp −$33	153.0 bp −$1,530	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
MEXC RAY_USDT	−0.0332%	8h	1.8106	+0.083%	$13.3M	$2.5M	100x	as long as short
Kraken Futures PF_RAYUSD	−0.0048%	1h	1.8093	+0.012%	$107K	$433K	10x	as long as short
gTrade (Gains Network) RAY/USD	L +0.0001% / S +0.0056%	1h	1.8113	+0.122%	$1K	—	150x	as long as short
Injective RAY/USDC PERP	+0.0033%	1h	1.6428	−9.192%	$266	$25	5.5x	as long as short
OKX RAY-USDT-SWAPshort	+0.0100%	8h	1.8102	+0.061%	$4.5M	$13.1M	20x
Gate RAY_USDT	+0.0100%	4h	1.8100	+0.050%	$574K	$1.1M	25x	as long as short
KuCoin RAYUSDTM	+0.0100%	4h	1.8105	+0.077%	$2.0M	$761K	50x	as long as short
Bitget RAYUSDT	+0.0100%	4h	1.8114	+0.127%	$2.6M	$3.4M	25x	as long as short
BingX RAY-USDT	+0.0100%	4h	1.8111	+0.111%	—	$2.0M	—	as long as short
Variational Omni RAY	+0.0100%	4h	1.8189	+0.543%	$715K	$1.1M	—	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	1.8120	+0.160%	$106K	$46K	10x	as long as short
SunX RAY-USDT	+0.0100%	4h	1.8138	+0.260%	—	$2.6M	10x	as long as short
HTX RAY-USDTlong	+0.0100%	4h	1.8091	long leg	$15K	$145K	20x
BloFin RAY-USDT	+0.0220%	8h	1.8075	−0.088%	$256K	$850K	20x	as long as short
Orderly PERP_RAY_USDC	+0.0415%	4h	1.8129	+0.210%	$251K	$250K	10x	as long as short
Lighter RAY	+0.0544%	1h	1.8142	+0.282%	$298K	$266K	5x	as long as short