There are several things that factor into the usable capacity of your ReadyNAS volume.
For example, let's calculate the usable capacity of a 4 x 500GB system in RAID 5 or X-RAID mode. For simplicity, we'll calculate this based on
Raw capacity (GB = 1000^3) = 2000
Conversion to (GB = 1024^3) = 1862
Minus one disk for redundancy (-465) = 1397
Minus OS (10) = 1387
Minus RAID/Filesystem overhead (2%) = 1359
Minus snapshot reserved space (5GB) = 1354
Based on our calculation, the approximate usable capacity for a 4 x 500GB system is 1354GB.