Funding arb · Price arb /

RAY

all RAY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0156%/8h= −17.0% APRpaid last 24h −0.013%

Price spread now: gTrade (Gains Network) against OKX+0.009%7-day average — · you sell dearer than you buy

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

Long on OKX 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	OKX RAY-USDT-SWAP	1.8340	0.0100	pay 0.0100% / 8h	1h 05m	$4.6M	$13.2M	20x
Short	gTrade (Gains Network) RAY/USD	1.8342	L +0.0001% / S +0.0056%	pay 0.0007% / 1h	5m 30s	$2K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against OKX. 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 OKXbpFee gTrade (Gains Network)bpOrdersPrice spread, now +0.009%Rate

Funding earned: −$32.67
Price spread: +0.009% → 0.000%: $0.93
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$51.75
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: OKX: live order book, 3 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 OKX live order book, 3 min ago	2.74 bp	30.6 bp −$31	155.6 bp −$1,556	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
Kraken Futures PF_RAYUSD	−0.2304%	1h	1.8322	−0.098%	$97K	$442K	10x	as long as short
gTrade (Gains Network) RAY/USDshort	L +0.0001% / S +0.0056%	1h	1.8342	+0.009%	$2K	—	150x
Injective RAY/USDC PERP	+0.0033%	1h	1.6428	−10.425%	$266	$25	5.5x	as long as short
MEXC RAY_USDT	+0.0070%	8h	1.8351	+0.060%	$13.4M	$2.6M	100x	as long as short
OKX RAY-USDT-SWAPlong	+0.0100%	8h	1.8340	long leg	$4.6M	$13.2M	20x
Gate RAY_USDT	+0.0100%	4h	1.8354	+0.076%	$573K	$1.1M	25x	as long as short
KuCoin RAYUSDTM	+0.0100%	4h	1.8344	+0.022%	$2.0M	$771K	50x	as long as short
Bitget RAYUSDT	+0.0100%	4h	1.8352	+0.065%	$2.7M	$3.5M	25x	as long as short
BingX RAY-USDT	+0.0100%	4h	1.8350	+0.055%	—	$2.0M	—	as long as short
Variational Omni RAY	+0.0100%	4h	1.8301	−0.212%	$730K	$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	1.8352	+0.068%	$108K	$47K	10x	as long as short
SunX RAY-USDT	+0.0100%	4h	1.8380	+0.218%	—	$2.6M	10x	as long as short
HTX RAY-USDT	+0.0100%	4h	1.8354	+0.076%	$15K	$131K	20x	as long as short
Lighter RAY	+0.0176%	1h	1.8381	+0.224%	$294K	$257K	5x	as long as short
BloFin RAY-USDT	+0.0220%	8h	1.8285	−0.300%	$259K	$861K	20x	as long as short
Orderly PERP_RAY_USDC	+0.0532%	4h	1.8384	+0.240%	$255K	$248K	10x	as long as short