RAY

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0332%/8h= +36.4% APRpaid last 24h +0.118%

Price spread now: Lighter against SunX+0.191%7-day average +0.173% · you sell dearer than you buy

Net, funding: paid 7d − costs−$116as in the Funding arb table

Net, price: spread back to 7d avg − costs−$163as in the Price arb table

costs, in and out, $10k−$1651.653% of the position

What this pair did over the last

the charts below follow

Funding, last 7 days+0.496%+$50 on $10k

Price spread, last 4 days (all we have)+0.560%+$56 · spread now +0.191%, 7d avg +0.173%

Together, before fees+1.056%+ Points / potential airdropLighter: Season 3 · farm board+$106 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.173%, so right now this pair is about funding alone: +$10 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX RAY-USDT	1.8313	0.0100	pay 0.0050% / 4h	1h 10m	—	$2.4M	10x
Short	Lighter RAY	1.8348	0.0432	get 0.0054% / 1h	10m 21s	$270K	$298K	5x

Funding history

latest

Range statsloading…

Lighter against SunX. 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 SunXbpFee LighterbpOrdersPrice spread, now +0.191%Rate

Slippage from SunX: live order book, 6 min ago; Lighter: live order book, 35 min ago.

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy SunX live order book, 6 min ago	46.86 bp	65.2 bp −$65	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 35 min ago	5.57 bp	17.6 bp −$18	118.7 bp −$1,187	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
gTrade (Gains Network) RAY/USD	L +0.0001% / S +0.0056%	1h	1.8297	−0.090%	$1K	—	150x	as long as short
Injective RAY/USDC PERP	+0.0033%	1h	1.6428	−10.293%	$266	$25	5.5x	as long as short
MEXC RAY_USDT	+0.0050%	8h	1.8288	−0.137%	$12.7M	$2.4M	100x	as long as short
OKX RAY-USDT-SWAP	+0.0100%	8h	1.8291	−0.120%	$4.5M	$13.1M	20x	as long as short
Gate RAY_USDT	+0.0100%	4h	1.8295	−0.098%	$588K	$1.1M	25x	as long as short
KuCoin RAYUSDTM	+0.0100%	4h	1.8297	−0.087%	$2.0M	$779K	50x	as long as short
Bitget RAYUSDT	+0.0100%	4h	1.8299	−0.076%	$2.6M	$3.8M	25x	as long as short
Variational Omni RAY	+0.0100%	4h	1.8272	−0.224%	$712K	$961K	—	as long as short
Bullet RAY-USD	+0.0100%	1h	1.8308	−0.027%	$69K	$66K	10x	as long as short
SunX RAY-USDTlong	+0.0100%	4h	1.8313	long leg	—	$2.4M	10x

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX RAY-USDT	+0.0100%	4h	1.8305	−0.044%	$13K	$90K	20x	as long as short
BingX RAY-USDT	+0.0134%	4h	1.8308	−0.027%	—	$2.0M	—	as long as short
BloFin RAY-USDT	+0.0220%	8h	1.8257	−0.306%	$213K	$884K	20x	as long as short
Lighter RAYshort	+0.0432%	1h	1.8348	+0.191%	$270K	$298K	5x
Kraken Futures PF_RAYUSD	+0.0765%	1h	1.8197	−0.634%	$91K	$456K	10x	as long as short
Orderly PERP_RAY_USDC	+0.0783%	4h	1.8342	+0.158%	$329K	$402K	10x	as long as short