RAY

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0063%/8h= +6.9% APRnext payment +$0.08 per $10,000 · paid last 24h +0.128%

Price spread now: Lighter against Injective+12.491%7-day average — · you sell dearer than you buy

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

Long on Injective Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 4 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 +$2 a day on $10k at the current rate, and Lighter is 12.491% dearer against Injective than usual: you sell high and buy low: +$1,249 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	Injective RAY/USDC PERP	1.6428	0.0033	pay 0.0004% / 1h	14m 54s	$266	$25	5.5x
Short	Lighter RAY	1.8480	0.0096	get 0.0012% / 1h	14m 54s	$299K	$253K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Injective. 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 InjectivebpFee LighterbpOrdersPrice spread, now +12.491%Rate

Funding earned: $13.16
Price spread: +12.491% → 0.000%: $1,249.09
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Lighter: 0 bp × 2 orders: $0
Net: $1,262.23
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; Lighter: live order book, 59 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 Injective no order-book sample	—	—	—	—	—
Sell Lighter live order book, 59 min ago	6.30 bp	13.7 bp −$14	110.9 bp −$1,109	doesn't fit	doesn't fit

Injective: 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	−0.2288%	1h	1.8451	+12.314%	$99K	$438K	10x	as long as short
MEXC RAY_USDT	−0.0279%	8h	1.8457	+12.351%	$13.5M	$2.5M	100x	as long as short
gTrade (Gains Network) RAY/USD	L +0.0001% / S +0.0056%	1h	1.8444	+12.274%	$2K	—	150x	as long as short
Injective RAY/USDC PERPlong	+0.0033%	1h	1.6428	long leg	$266	$25	5.5x
Lighter RAYshort	+0.0096%	1h	1.8480	+12.491%	$299K	$253K	5x
OKX RAY-USDT-SWAP	+0.0100%	8h	1.8451	+12.314%	$4.6M	$13.3M	20x	as long as short
Gate RAY_USDT	+0.0100%	4h	1.8437	+12.229%	$575K	$1.1M	25x	as long as short
KuCoin RAYUSDTM	+0.0100%	4h	1.8444	+12.272%	$2.0M	$762K	50x	as long as short
Bitget RAYUSDT	+0.0100%	4h	1.8452	+12.320%	$2.7M	$3.5M	25x	as long as short
BingX RAY-USDT	+0.0100%	4h	1.8462	+12.381%	—	$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	1.8430	+12.185%	$732K	$1.0M	—	as long as short
Bullet RAY-USD	+0.0100%	1h	1.8450	+12.306%	$108K	$47K	10x	as long as short
SunX RAY-USDT	+0.0100%	4h	1.8457	+12.351%	—	$2.6M	10x	as long as short
HTX RAY-USDT	+0.0100%	4h	1.8436	+12.223%	$15K	$133K	20x	as long as short
BloFin RAY-USDT	+0.0220%	8h	1.8435	+12.217%	$260K	$868K	20x	as long as short
Orderly PERP_RAY_USDC	+0.0502%	4h	1.8448	+12.296%	$256K	$248K	10x	as long as short