RAY

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0252%/8h= +27.6% APRnext payment +$0.32 per $10,000 · paid last 24h +0.136%

Price spread now: Lighter against Bullet+0.223%7-day average — · you sell dearer than you buy

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

Long on Bullet Short on Lighter

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—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Lighter is 0.223% dearer against Bullet than usual: you sell high and buy low: +$22 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bullet RAY-USD	1.8066	0.0100	pay 0.0013% / 1h	27m 15s	$68K	$66K	10x
Short	Lighter RAY	1.8106	0.0352	get 0.0044% / 1h	27m 15s	$263K	$309K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Bullet. 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 BulletbpFee LighterbpOrdersPrice spread, now +0.223%Rate

Funding earned: $52.92
Price spread: +0.223% → 0.000%: $22.31
Slippage, 4 orders: no order book: not counted
Fee Bullet: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: $67.23
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: Bullet: no order-book sample; Lighter: live order book, 13 min ago. 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 Bullet no order-book sample	—	—	—	—	—
Sell Lighter live order book, 13 min ago	6.37 bp	17.3 bp −$17	118.5 bp −$1,185	doesn't fit	doesn't fit

Bullet: 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	−0.3794%	1h	1.8013	−0.291%	$90K	$435K	10x	as long as short
MEXC RAY_USDT	−0.0062%	8h	1.8080	+0.079%	$12.5M	$2.4M	100x	as long as short
gTrade (Gains Network) RAY/USD	L +0.0001% / S +0.0056%	1h	1.8041	−0.139%	$1K	—	150x	as long as short
Injective RAY/USDC PERP	+0.0033%	1h	1.6428	−9.065%	$266	$25	5.5x	as long as short
OKX RAY-USDT-SWAP	+0.0100%	8h	1.8061	−0.026%	$4.5M	$12.9M	20x	as long as short
Gate RAY_USDT	+0.0100%	4h	1.8048	−0.098%	$580K	$1.1M	25x	as long as short
KuCoin RAYUSDTM	+0.0100%	4h	1.8057	−0.048%	$1.9M	$784K	50x	as long as short
Bitget RAYUSDT	+0.0100%	4h	1.8073	+0.040%	$2.6M	$3.8M	25x	as long as short
BingX RAY-USDT	+0.0100%	4h	1.8058	−0.043%	—	$2.0M	—	as long as short
Variational Omni RAY	+0.0100%	4h	1.8114	+0.269%	$708K	$887K	—	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bullet RAY-USDlong	+0.0100%	1h	1.8066	long leg	$68K	$66K	10x
SunX RAY-USDT	+0.0100%	4h	1.8069	+0.018%	—	$2.4M	10x	as long as short
HTX RAY-USDT	+0.0100%	4h	1.8089	+0.129%	$13K	$90K	20x	as long as short
BloFin RAY-USDT	+0.0220%	8h	1.8076	+0.057%	$252K	$925K	20x	as long as short
Lighter RAYshort	+0.0352%	1h	1.8106	+0.223%	$263K	$309K	5x
Orderly PERP_RAY_USDC	+0.1096%	4h	1.8123	+0.317%	$325K	$400K	10x	as long as short