RAY

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0119%/8h= +13.1% APRnext payment +$0.15 per $10,000 · paid last 24h +0.137%

Price spread now: Lighter against gTrade (Gains Network)+0.282%7-day average — · you sell dearer than you buy

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

Long on gTrade (Gains Network)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 +$4 a day on $10k at the current rate, and Lighter is 0.282% dearer against gTrade (Gains Network) than usual: you sell high and buy low: +$28 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	gTrade (Gains Network) RAY/USD	1.8283	L +0.0001% / S +0.0056%	pay 0.0000% / 1h	9m 01s	$2K	—	150x
Short	Lighter RAY	1.8335	0.0120	get 0.0015% / 1h	9m 01s	$294K	$257K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee LighterbpOrdersPrice spread, now +0.282%Rate

Funding earned: $25.08
Price spread: +0.282% → 0.000%: $28.17
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: $43.25
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: gTrade (Gains Network): no order-book sample; Lighter: live order book, 65 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell Lighter live order book, 65 min ago	6.30 bp	13.7 bp −$14	110.9 bp −$1,109	doesn't fit	doesn't fit

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	−0.2310%	1h	1.8272	−0.062%	$96K	$443K	10x	as long as short
MEXC RAY_USDT	−0.0141%	8h	1.8301	+0.096%	$13.4M	$2.6M	100x	as long as short
gTrade (Gains Network) RAY/USDlong	L +0.0001% / S +0.0056%	1h	1.8283	long leg	$2K	—	150x
Injective RAY/USDC PERP	+0.0033%	1h	1.6428	−10.148%	$266	$25	5.5x	as long as short
OKX RAY-USDT-SWAP	+0.0100%	8h	1.8297	+0.074%	$4.6M	$13.2M	20x	as long as short
Gate RAY_USDT	+0.0100%	4h	1.8278	−0.030%	$570K	$1.1M	25x	as long as short
KuCoin RAYUSDTM	+0.0100%	4h	1.8288	+0.025%	$2.0M	$766K	50x	as long as short
Bitget RAYUSDT	+0.0100%	4h	1.8301	+0.096%	$2.6M	$3.5M	25x	as long as short
BingX RAY-USDT	+0.0100%	4h	1.8300	+0.090%	—	$2.0M	—	as long as short
Variational Omni RAY	+0.0100%	4h	1.8301	+0.096%	$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	1.8297	+0.074%	$107K	$47K	10x	as long as short
SunX RAY-USDT	+0.0100%	4h	1.8303	+0.107%	—	$2.6M	10x	as long as short
HTX RAY-USDT	+0.0100%	4h	1.8281	−0.014%	$15K	$132K	20x	as long as short
Lighter RAYshort	+0.0120%	1h	1.8335	+0.282%	$294K	$257K	5x
BloFin RAY-USDT	+0.0220%	8h	1.8287	+0.019%	$259K	$861K	20x	as long as short
Orderly PERP_RAY_USDC	+0.0520%	4h	1.8316	+0.178%	$254K	$248K	10x	as long as short