Funding arb · Price arb /

RAY

all RAY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.006%

Price spread now: Gate against KuCoin+0.017%7-day average −0.016% · you sell dearer than you buy

Net, funding: paid 7d − costs−$280as in the Funding arb table

Net, price: spread back to 7d avg − costs−$270as in the Price arb table

costs, in and out, $10k−$2742.738% of the position

Long on KuCoin Short on Gate

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−0.105%−$11 · spread now +0.017%, 7d avg −0.016%

Together, before fees−0.165%−$17 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: Gate is 0.033% dearer against KuCoin than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.016%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin RAYUSDTM	1.7581	0.0100	pay 0.0050% / 4h	19m 05s	$1.8M	$831K	50x
Short	Gate RAY_USDT	1.7584	0.0100	get 0.0050% / 4h	19m 05s	$549K	$1.2M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against KuCoin. 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 KuCoinbpFee GatebpOrdersPrice spread, now +0.017%Rate

Funding earned: $0
Price spread: +0.017% → −0.016%: $3.32
Slippage, 4 orders: −$246.8
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$270.47
Costs to cover: 2.738%
Break-even: never at this rate

Slippage from KuCoin: live order book, 7 min ago; Gate: 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 KuCoin live order book, 7 min ago	7.41 bp	39.7 bp −$40	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 3 min ago	6.27 bp	104.6 bp −$105	doesn't fit	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
gTrade (Gains Network) RAY/USD	L +0.0001% / S +0.0056%	1h	1.7581	−0.002%	$3K	—	150x	as long as short
Injective RAY/USDC PERP	+0.0033%	1h	1.6428	−6.558%	$266	$25	5.5x	as long as short
OKX RAY-USDT-SWAP	+0.0100%	8h	1.7600	+0.108%	$4.2M	$12.8M	20x	as long as short
Gate RAY_USDTshort	+0.0100%	4h	1.7584	+0.017%	$549K	$1.2M	25x
KuCoin RAYUSDTMlong	+0.0100%	4h	1.7581	long leg	$1.8M	$831K	50x
Bitget RAYUSDT	+0.0100%	4h	1.7600	+0.108%	$2.6M	$4.0M	25x	as long as short
BingX RAY-USDT	+0.0100%	4h	1.7595	+0.080%	—	$2.0M	—	as long as short
Variational Omni RAY	+0.0100%	4h	1.7524	−0.325%	$654K	$811K	—	as long as short
Bullet RAY-USD	+0.0100%	1h	1.7595	+0.077%	$66K	$28K	10x	as long as short
SunX RAY-USDT	+0.0100%	4h	1.7574	−0.040%	—	$2.4M	10x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX RAY-USDT	+0.0100%	4h	1.7573	−0.046%	$13K	$90K	20x	as long as short
Lighter RAY	+0.0160%	1h	1.7616	+0.199%	$229K	$334K	5x	as long as short
BloFin RAY-USDT	+0.0220%	8h	1.7597	+0.091%	$242K	$875K	20x	as long as short
MEXC RAY_USDT	+0.0785%	8h	1.7600	+0.108%	$11.7M	$2.5M	100x	as long as short
Kraken Futures PF_RAYUSD	+0.1613%	1h	1.7634	+0.302%	$93K	$385K	10x	as long as short
Orderly PERP_RAY_USDC	+0.2165%	4h	1.7623	+0.239%	$311K	$396K	10x	as long as short