RAY

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0164%/8h= −18.0% APRpaid last 24h −0.108%

Price spread now: Gate against Lighter−0.196%7-day average −0.207% · you buy dearer than you sell

Net, funding: paid 7d − costs−$269as in the Funding arb table

Net, price: spread back to 7d avg − costs−$207as in the Price arb table

costs, in and out, $10k−$2082.079% of the position

What this pair did over the last

the charts below follow

Funding, last 7 days−0.608%−$61 on $10k

Price spread, last 4 days (all we have)−0.101%−$10 · spread now −0.196%, 7d avg −0.207%

Together, before fees−0.709%+ Points / potential airdropLighter: Season 3 · farm board−$71 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.207%, so right now this pair is about funding alone: −$5 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RAY	1.8390	0.0264	pay 0.0033% / 1h	59m 38s	$294K	$252K	5x
Short	Gate RAY_USDT	1.8354	0.0100	get 0.0050% / 4h	59m 38s	$572K	$1.1M	25x

Funding history

latest

Range statsloading…

Gate against Lighter. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

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latest

How often the price spread is this wide · share of time at each level, last 7D show

Position, each leg$Hold fordaysFee LighterbpFee GatebpOrdersPrice spread, now −0.196%Rate

Slippage from Lighter: live order book, 75 min ago; Gate: live order book, 2 min ago.

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, 75 min ago	6.30 bp	16.5 bp −$16	112.3 bp −$1,123	doesn't fit	doesn't fit
Sell Gate live order book, 2 min ago	6.83 bp	98.6 bp −$99	doesn't fit	doesn't fit	doesn't fit

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	−0.2300%	1h	1.8351	−0.213%	$97K	$441K	10x	as long as short
gTrade (Gains Network) RAY/USD	L +0.0001% / S +0.0056%	1h	1.8360	−0.165%	$2K	—	150x	as long as short
Injective RAY/USDC PERP	+0.0033%	1h	1.6428	−10.669%	$266	$25	5.5x	as long as short
MEXC RAY_USDT	+0.0050%	8h	1.8351	−0.212%	$13.3M	$2.5M	100x	as long as short
OKX RAY-USDT-SWAP	+0.0100%	8h	1.8327	−0.343%	$4.6M	$13.2M	20x	as long as short
Gate RAY_USDTshort	+0.0100%	4h	1.8354	−0.196%	$572K	$1.1M	25x
KuCoin RAYUSDTM	+0.0100%	4h	1.8359	−0.169%	$2.0M	$742K	50x	as long as short
Bitget RAYUSDT	+0.0100%	4h	1.8348	−0.228%	$2.6M	$3.6M	25x	as long as short
Variational Omni RAY	+0.0100%	4h	1.8326	−0.348%	$727K	$1.0M	—	as long as short
Bullet RAY-USD	+0.0100%	1h	1.8369	−0.116%	$108K	$47K	10x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX RAY-USDT	+0.0100%	4h	1.8377	−0.071%	—	$2.6M	10x	as long as short
HTX RAY-USDT	+0.0100%	4h	1.8323	−0.364%	$15K	$129K	20x	as long as short
BloFin RAY-USDT	+0.0220%	8h	1.8307	−0.451%	$259K	$863K	20x	as long as short
Lighter RAYlong	+0.0264%	1h	1.8390	long leg	$294K	$252K	5x
BingX RAY-USDT	+0.0300%	4h	1.8358	−0.174%	—	$2.0M	—	as long as short
Orderly PERP_RAY_USDC	+0.0552%	4h	1.8383	−0.038%	$255K	$248K	10x	as long as short