ArbiLayer

RAY arbitrage

live

Live Raydium price differences between exchanges: perpetual, spot and DEX spreads after fees, with funding and depth.

Best net spread+0.22%Variational → KuCoin · Perp–Perp
Best perp–perp spread+0.38%Variational → KuCoin
Markets tracked138 venues · 7 perp · 6 spot · 0 DEX
Price range0.61%$2.24 – $2.26

Spreads between exchanges

Long (buy)Short (sell)SpreadNetSpread+FDepth $Funding 24hFunding 30DD/WChart
OKX logoOKXspot$2.26Gate logoGatespot$2.26 +0.03%-0.17% +0.03%— 0.000%— LS Chart →
Binance logoBinancespot$2.26Gate logoGatespot$2.26 -0.02%-0.22% -0.02%— 0.000%— LS Chart →
OKX logoOKXspot$2.26Binance logoBinancespot$2.25 -0.03%-0.23% -0.03%— 0.000%— LS Chart →
Bitget logoBitgetspot$2.26Gate logoGatespot$2.26 -0.04%-0.24% -0.04%— 0.000%— LS Chart →
OKX logoOKXspot$2.26MEXC logoMEXCspot$2.25 -0.05%-0.25% -0.05%— 0.000%— LS Chart →
OKX logoOKXspot$2.26Bitget logoBitgetspot$2.25 -0.05%-0.25% -0.05%— 0.000%— LS Chart →
OKX logoOKXspot$2.26KuCoin logoKuCoinspot$2.25 -0.06%-0.26% -0.06%— 0.000%— LS Chart →
MEXC logoMEXCspot$2.26Gate logoGatespot$2.26 -0.09%-0.29% -0.09%— 0.000%— LS Chart →
KuCoin logoKuCoinspot$2.26Gate logoGatespot$2.26 -0.09%-0.29% -0.09%— 0.000%— LS Chart →
Binance logoBinancespot$2.26MEXC logoMEXCspot$2.25 -0.10%-0.30% -0.10%— 0.000%— LS Chart →
Binance logoBinancespot$2.26Bitget logoBitgetspot$2.25 -0.10%-0.30% -0.10%— 0.000%— LS Chart →
Bitget logoBitgetspot$2.26Binance logoBinancespot$2.25 -0.11%-0.31% -0.11%— 0.000%— LS Chart →
Binance logoBinancespot$2.26KuCoin logoKuCoinspot$2.25 -0.11%-0.31% -0.11%— 0.000%— LS Chart →
Bitget logoBitgetspot$2.26MEXC logoMEXCspot$2.25 -0.12%-0.32% -0.12%— 0.000%— LS Chart →
Bitget logoBitgetspot$2.26KuCoin logoKuCoinspot$2.25 -0.14%-0.34% -0.14%— 0.000%— LS Chart →
Long = where you buy, Short = where you sell. Net subtracts a two-leg taker fee model; Spread+F adds the next funding payment.Updates every 15 seconds. Not investment advice.

RAY price on every exchange

ExchangeMarketBidAskPricevs medianFunding 24hVolume 24h
OKX logoOKXPerpetual · RAY-USDT-SWAPPerpetual $2.25$2.25$2.25-0.09% +0.008%$25.79M
MEXC logoMEXCPerpetual · RAY_USDTPerpetual $2.25$2.25$2.25-0.11% -0.469%$6.62M
Gate logoGatePerpetual · RAY_USDTPerpetual $2.25$2.25$2.25-0.03% +0.030%$6.34M
Bitget logoBitgetPerpetual · RAYUSDTPerpetual $2.25$2.25$2.25-0.10% +0.009%$4.43M
OKX logoOKXSpot · RAY-USDTSpot $2.25$2.26$2.250.00% —$3.00M
KuCoin logoKuCoinSpot · RAY-USDTSpot $2.25$2.26$2.26+0.08% —$1.16M
KuCoin logoKuCoinPerpetual · RAYUSDTMPerpetual $2.25$2.26$2.26+0.06% +0.030%$1.15M
Bitget logoBitgetSpot · RAYUSDTSpot $2.25$2.26$2.26+0.06% —$1.01M
Gate logoGateSpot · RAY_USDTSpot $2.26$2.26$2.26+0.13% —$601.1K
Variational logoVariationalPerpetual · RAYPerpetual $2.24$2.25$2.24-0.48% -0.199%$278.3K
HTX logoHTXPerpetual · RAY-USDTPerpetual $2.24$2.26$2.25-0.29% +0.015%$95.9K
Binance logoBinanceSpot · RAYUSDTSpot $2.25$2.26$2.26+0.06% ——
MEXC logoMEXCSpot · RAYUSDTSpot $2.25$2.26$2.26+0.09% ——
Price is the bid/ask midpoint. "vs median" compares each market with the median of all centralized venues.

RAY arbitrage explained

Right now Raydium (RAY) trades on 8 venues we scan: 7 perpetual markets, 6 spot markets and 0 DEX pools. The lowest ask is on Variational perp at $2.25 and the highest bid on Gate spot at $2.26.

The widest RAY perpetual spread is between Variational and KuCoin: long RAY on Variational at $2.25 and short on KuCoin at $2.25 for +0.38% gross, or +0.22% after the 0.16% two-leg fee model. No transfer is needed: both positions stay on their exchanges until the prices converge. The funding difference on this pair is +0.229% per day, which the position collects while it is open.

For a spot–perpetual (cash-and-carry) trade, the best RAY route is to buy spot on OKX and short the perpetual on KuCoin: -0.07% gross, -0.27% net, with +0.030% a day of funding on the short leg.

Spot–spot RAY arbitrage (buy on OKX, withdraw, deposit and sell on Gate) shows +0.03% gross right now. It only works if withdrawals on the buying exchange and deposits on the selling exchange are open, so check the D/W dots before moving coins.

Small RAY gaps usually disappear after fees, slippage and funding. Look at the Net column, the executable Depth and the spread history before trading: a gap that has been open for days is a different trade from a one-minute spike.

Related: RAY funding rates · RAY spread charts · Raydium price · arbitrage scanner for all coins.

Is there a RAY arbitrage opportunity right now?

The best RAY route right now is to buy on Variational → sell on KuCoin (Perp–Perp): +0.38% gross and +0.22% after fees. It is positive after the fee model, but check depth and funding before trading.

Which exchange has the cheapest RAY?

Variational (perp) has the lowest RAY ask at $2.25, and Gate (spot) the highest bid at $2.26. Prices update every 15 seconds on this page.

How many exchanges list RAY?

ArbiLayer tracks 13 RAY markets on 8 venues: 7 perpetual, 6 spot and 0 DEX pools.

How do I arbitrage RAY without transferring coins?

Use two perpetual contracts: go long RAY on the cheaper exchange (Variational now) and short it on the more expensive one (KuCoin), then close both legs when the spread converges. The coins never move between exchanges.

Arbitrage for other coins

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