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 +0.006%

Price spread now: SunX against KuCoin+0.154%7-day average +0.005% · you sell dearer than you buy

Net, funding: paid 7d − costs−$232as in the Funding arb table

Net, price: spread back to 7d avg − costs−$223as in the Price arb table

costs, in and out, $10k−$2382.381% of the position

Long on KuCoin Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.064%+$6 on $10k

Price spread, last 3 days (all we have)−0.316%−$32 · spread now +0.154%, 7d avg +0.005%

Together, before fees−0.252%−$25 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 0.149% dearer against KuCoin than usual: you sell high and buy low, +$15 on $10k if it goes back to its 7-day average of +0.005%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin RAYUSDTM	1.8164	0.0100	pay 0.0050% / 4h	3h 00m	$2.0M	$772K	50x
Short	SunX RAY-USDT	1.8192	0.0100	get 0.0050% / 4h	3h 00m	—	$2.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.154%Rate

Funding earned: $0
Price spread: +0.154% → +0.005%: $14.91
Slippage, 4 orders: −$218.06
Fee KuCoin: 6 bp × 2 orders: −$12
Fee SunX: 4 bp × 2 orders: −$8
Net: −$223.15
Costs to cover: 2.381%
Break-even: never at this rate

Slippage from KuCoin: live order book, 1 min ago; SunX: live order book, 6 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, 1 min ago	9.63 bp	77.6 bp −$78	doesn't fit	doesn't fit	doesn't fit
Sell SunX live order book, 6 min ago	44.86 bp	64.0 bp −$64	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
Kraken Futures PF_RAYUSD	−0.1789%	1h	1.8273	+0.599%	$92K	$440K	10x	as long as short
gTrade (Gains Network) RAY/USD	L +0.0001% / S +0.0056%	1h	1.8179	+0.084%	$2K	—	150x	as long as short
Injective RAY/USDC PERP	+0.0033%	1h	1.6428	−9.557%	$266	$25	5.5x	as long as short
MEXC RAY_USDT	+0.0050%	8h	1.8135	−0.160%	$12.8M	$2.5M	100x	as long as short
OKX RAY-USDT-SWAP	+0.0100%	8h	1.8112	−0.286%	$4.5M	$13.2M	20x	as long as short
Gate RAY_USDT	+0.0100%	4h	1.8133	−0.171%	$558K	$1.1M	25x	as long as short
KuCoin RAYUSDTMlong	+0.0100%	4h	1.8164	long leg	$2.0M	$772K	50x
Bitget RAYUSDT	+0.0100%	4h	1.8125	−0.215%	$2.6M	$3.7M	25x	as long as short
Variational Omni RAY	+0.0100%	4h	1.8181	+0.093%	$712K	$1.0M	—	as long as short
Bullet RAY-USD	+0.0100%	1h	1.8187	+0.126%	$68K	$66K	10x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX RAY-USDTshort	+0.0100%	4h	1.8192	+0.154%	—	$2.5M	10x
HTX RAY-USDT	+0.0100%	4h	1.8251	+0.479%	$13K	$107K	20x	as long as short
BloFin RAY-USDT	+0.0220%	8h	1.8121	−0.237%	$259K	$877K	20x	as long as short
Lighter RAY	+0.0448%	1h	1.8196	+0.176%	$271K	$285K	5x	as long as short
BingX RAY-USDT	+0.0490%	4h	1.8137	−0.149%	—	$2.0M	—	as long as short
Orderly PERP_RAY_USDC	+0.0574%	4h	1.8204	+0.220%	$258K	$247K	10x	as long as short