RAY

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0004%/8h= −0.4% APRnext payment −$0.01 per $10,000 · paid last 24h +0.138%

Price spread now: Lighter against Bullet+0.202%7-day average — · you sell dearer than you buy

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

Long on Bullet Short on Lighter

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

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Lighter is 0.202% dearer against Bullet than usual: you sell high and buy low, +$20 on $10k if it 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	Bullet RAY-USD	1.7831	0.0100	pay 0.0013% / 1h	25m 23s	$67K	$66K	10x
Short	Lighter RAY	1.7867	0.0096	get 0.0012% / 1h	25m 23s	$255K	$302K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Bullet. 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 BulletbpFee LighterbpOrdersPrice spread, now +0.202%Rate

Funding earned: −$0.84
Price spread: +0.202% → 0.000%: $20.19
Slippage, 4 orders: no order book: not counted
Fee Bullet: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: $11.35
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: Bullet: no order-book sample; Lighter: live order book, 10 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 Bullet no order-book sample	—	—	—	—	—
Sell Lighter live order book, 10 min ago	4.47 bp	31.1 bp −$31	125.0 bp −$1,250	doesn't fit	doesn't fit

Bullet: 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	−0.2695%	1h	1.7809	−0.125%	$89K	$397K	10x	as long as short
gTrade (Gains Network) RAY/USD	L +0.0001% / S +0.0056%	1h	1.7831	−0.002%	$1K	—	150x	as long as short
Injective RAY/USDC PERP	+0.0033%	1h	1.6428	−7.868%	$266	$25	5.5x	as long as short
MEXC RAY_USDT	+0.0050%	8h	1.7832	+0.006%	$12.4M	$2.5M	100x	as long as short
Lighter RAYshort	+0.0096%	1h	1.7867	+0.202%	$255K	$302K	5x
OKX RAY-USDT-SWAP	+0.0100%	8h	1.7826	−0.028%	$4.3M	$12.7M	20x	as long as short
Gate RAY_USDT	+0.0100%	4h	1.7858	+0.151%	$577K	$1.1M	25x	as long as short
KuCoin RAYUSDTM	+0.0100%	4h	1.7847	+0.090%	$1.9M	$782K	50x	as long as short
Bitget RAYUSDT	+0.0100%	4h	1.7833	+0.011%	$2.6M	$3.8M	25x	as long as short
BingX RAY-USDT	+0.0100%	4h	1.7826	−0.028%	—	$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	1.7824	−0.038%	$690K	$866K	—	as long as short
Bullet RAY-USDlong	+0.0100%	1h	1.7831	long leg	$67K	$66K	10x
SunX RAY-USDT	+0.0100%	4h	1.7806	−0.140%	—	$2.4M	10x	as long as short
HTX RAY-USDT	+0.0100%	4h	1.7821	−0.056%	$13K	$91K	20x	as long as short
BloFin RAY-USDT	+0.0220%	8h	1.7829	−0.011%	$245K	$934K	20x	as long as short
Orderly PERP_RAY_USDC	+0.1578%	4h	1.7878	+0.264%	$321K	$400K	10x	as long as short