Funding arb · Price arb /

RAY

all RAY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: SunX against HTX0.000%7-day average +0.026% · you sell dearer than you buy

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

Long on HTX Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 3 days (all we have)−0.157%−$16 · spread now 0.000%, 7d avg +0.026%

Together, before fees−0.157%−$16 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 0.026% cheaper against HTX than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.026%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX RAY-USDT	1.7835	0.0100	pay 0.0050% / 4h	2h 02m	$13K	$99K	20x
Short	SunX RAY-USDT	1.7835	0.0100	get 0.0050% / 4h	2h 02m	—	$2.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → +0.026%: −$2.63
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee SunX: 4 bp × 2 orders: −$8
Net: −$22.63
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: HTX: live order book, 64 min ago; SunX: 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, 64 min ago	49.23 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell SunX live order book, 5 min ago	45.00 bp	64.0 bp −$64	doesn't fit	doesn't fit	doesn't fit

RAY on 15 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	1.7828	−0.037%	$1K	—	150x	as long as short
Kraken Futures PF_RAYUSD	+0.0010%	1h	1.7803	−0.177%	$89K	$451K	10x	as long as short
Injective RAY/USDC PERP	+0.0033%	1h	1.6428	−7.889%	$266	$25	5.5x	as long as short
MEXC RAY_USDT	+0.0050%	8h	1.7823	−0.067%	$12.6M	$2.5M	100x	as long as short
OKX RAY-USDT-SWAP	+0.0100%	8h	1.7818	−0.095%	$4.5M	$12.8M	20x	as long as short
Gate RAY_USDT	+0.0100%	4h	1.7822	−0.073%	$558K	$1.1M	25x	as long as short
KuCoin RAYUSDTM	+0.0100%	4h	1.7821	−0.078%	$1.9M	$780K	50x	as long as short
Bitget RAYUSDT	+0.0100%	4h	1.7821	−0.078%	$2.6M	$3.7M	25x	as long as short
BingX RAY-USDT	+0.0100%	4h	1.7815	−0.112%	—	$2.0M	—	as long as short
Variational Omni RAY	+0.0100%	4h	1.7866	+0.176%	$700K	$985K	—	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bullet RAY-USD	+0.0100%	1h	1.7838	+0.014%	$67K	$66K	10x	as long as short
SunX RAY-USDTshort	+0.0100%	4h	1.7835	0.000%	—	$2.4M	10x
HTX RAY-USDTlong	+0.0100%	4h	1.7835	long leg	$13K	$99K	20x
Lighter RAY	+0.0328%	1h	1.7858	+0.129%	$264K	$289K	5x	as long as short
Orderly PERP_RAY_USDC	+0.0595%	4h	1.7833	−0.011%	$217K	$285K	10x	as long as short