RAY

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0134%/8h= −14.7% APRpaid last 24h −0.188%

Price spread now: MEXC against Lighter−0.201%7-day average −0.184% · you buy dearer than you sell

Net, funding: paid 7d − costs−$208as in the Funding arb table

Net, price: spread back to 7d avg − costs−$84as in the Price arb table

costs, in and out, $10k−$820.818% of the position

What this pair did over the last

the charts below follow

Funding, last 7 days−1.259%−$126 on $10k

Price spread, last 4 days (all we have)−0.086%−$9 · spread now −0.201%, 7d avg −0.184%

Together, before fees−1.345%+ Points / potential airdropLighter: Season 3 · farm board−$134 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.184%, so right now this pair is about funding alone: −$4 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	1.7906	0.0096	pay 0.0012% / 1h	46m 19s	$257K	$300K	5x
Short	MEXC RAY_USDT	1.7870	−0.0038	pay 0.0038% / 8h	3h 46m	$12.4M	$2.4M	100x

Funding history

latest

Range statsloading…

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

latest

Price spreadloading…

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

Position, each leg$Hold fordaysFee LighterbpFee MEXCbpOrdersPrice spread, now −0.201%Rate

Slippage from Lighter: live order book, 54 min ago; MEXC: 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, 54 min ago	6.37 bp	49.2 bp −$49	133.1 bp −$1,331	doesn't fit	doesn't fit
Sell MEXC live order book, 2 min ago	3.36 bp	7.6 bp −$8	43.4 bp −$434	116.3 bp −$11.6K	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	−0.2689%	1h	1.7847	−0.330%	$90K	$402K	10x	as long as short
MEXC RAY_USDTshort	−0.0038%	8h	1.7870	−0.201%	$12.4M	$2.4M	100x
gTrade (Gains Network) RAY/USD	L +0.0001% / S +0.0056%	1h	1.7873	−0.183%	$1K	—	150x	as long as short
Injective RAY/USDC PERP	+0.0033%	1h	1.6428	−8.254%	$266	$25	5.5x	as long as short
Lighter RAYlong	+0.0096%	1h	1.7906	long leg	$257K	$300K	5x
OKX RAY-USDT-SWAP	+0.0100%	8h	1.7880	−0.145%	$4.4M	$12.8M	20x	as long as short
Gate RAY_USDT	+0.0100%	4h	1.7880	−0.145%	$576K	$1.1M	25x	as long as short
KuCoin RAYUSDTM	+0.0100%	4h	1.7880	−0.145%	$1.9M	$779K	50x	as long as short
Bitget RAYUSDT	+0.0100%	4h	1.7876	−0.168%	$2.6M	$3.8M	25x	as long as short
BingX RAY-USDT	+0.0100%	4h	1.7877	−0.162%	—	$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	1.7907	+0.005%	$694K	$868K	—	as long as short
Bullet RAY-USD	+0.0100%	1h	1.7879	−0.151%	$67K	$66K	10x	as long as short
SunX RAY-USDT	+0.0100%	4h	1.7884	−0.123%	—	$2.4M	10x	as long as short
HTX RAY-USDT	+0.0100%	4h	1.7878	−0.156%	$13K	$90K	20x	as long as short
BloFin RAY-USDT	+0.0220%	8h	1.7837	−0.385%	$251K	$935K	20x	as long as short
Orderly PERP_RAY_USDC	+0.1460%	4h	1.7917	+0.061%	$321K	$400K	10x	as long as short