RAY

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0152%/8h= −16.6% APRnext payment −$0.19 per $10,000 · paid last 24h −0.154%

Price spread now: gTrade (Gains Network) against Lighter−0.161%7-day average — · you buy dearer than you sell

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

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

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and gTrade (Gains Network) is 0.161% cheaper against Lighter than usual: you would sell low and buy high (−$16 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RAY	1.8306	0.0096	pay 0.0012% / 1h	9m 51s	$294K	$257K	5x
Short	gTrade (Gains Network) RAY/USD	1.8276	L +0.0001% / S +0.0056%	pay 0.0007% / 1h	9m 51s	$2K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against Lighter. 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 LighterbpFee gTrade (Gains Network)bpOrdersPrice spread, now −0.161%Rate

Funding earned: −$31.83
Price spread: −0.161% → 0.000%: −$16.11
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$57.95
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Lighter: live order book, 64 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 Lighter live order book, 64 min ago	6.30 bp	16.5 bp −$16	112.3 bp −$1,123	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	−0.2315%	1h	1.8230	−0.417%	$96K	$443K	10x	as long as short
MEXC RAY_USDT	−0.0256%	8h	1.8289	−0.093%	$13.4M	$2.6M	100x	as long as short
gTrade (Gains Network) RAY/USDshort	L +0.0001% / S +0.0056%	1h	1.8276	−0.161%	$2K	—	150x
Injective RAY/USDC PERP	+0.0033%	1h	1.6428	−10.259%	$266	$25	5.5x	as long as short
Lighter RAYlong	+0.0096%	1h	1.8306	long leg	$294K	$257K	5x
OKX RAY-USDT-SWAP	+0.0100%	8h	1.8285	−0.115%	$4.6M	$13.2M	20x	as long as short
Gate RAY_USDT	+0.0100%	4h	1.8271	−0.191%	$570K	$1.1M	25x	as long as short
KuCoin RAYUSDTM	+0.0100%	4h	1.8278	−0.153%	$2.0M	$762K	50x	as long as short
Bitget RAYUSDT	+0.0100%	4h	1.8295	−0.060%	$2.7M	$3.5M	25x	as long as short
BingX RAY-USDT	+0.0100%	4h	1.8281	−0.137%	—	$2.0M	—	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni RAY	+0.0100%	4h	1.8301	−0.027%	$730K	$1.0M	—	as long as short
Bullet RAY-USD	+0.0100%	1h	1.8278	−0.153%	$107K	$47K	10x	as long as short
SunX RAY-USDT	+0.0100%	4h	1.8280	−0.142%	—	$2.6M	10x	as long as short
HTX RAY-USDT	+0.0100%	4h	1.8262	−0.240%	$15K	$132K	20x	as long as short
BloFin RAY-USDT	+0.0220%	8h	1.8260	−0.251%	$257K	$860K	20x	as long as short
Orderly PERP_RAY_USDC	+0.0518%	4h	1.8297	−0.049%	$253K	$248K	10x	as long as short