RAY

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0095%/8h= +10.5% APRnext payment +$0.12 per $10,000 · paid last 24h +0.160%

Price spread now: Lighter against gTrade (Gains Network)+0.120%7-day average — · you sell dearer than you buy

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

Long on gTrade (Gains Network)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

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Lighter is 0.120% dearer against gTrade (Gains Network) than usual: you sell high and buy low: +$12 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	gTrade (Gains Network) RAY/USD	1.7512	L +0.0001% / S +0.0056%	pay 0.0000% / 1h	46m 43s	$3K	—	150x
Short	Lighter RAY	1.7533	0.0096	get 0.0012% / 1h	46m 43s	$244K	$313K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee LighterbpOrdersPrice spread, now +0.120%Rate

Funding earned: $20.04
Price spread: +0.120% → 0.000%: $12.05
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: $22.09
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: gTrade (Gains Network): no order-book sample; Lighter: live order book, 44 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell Lighter live order book, 44 min ago	4.89 bp	40.7 bp −$41	134.9 bp −$1,349	doesn't fit	doesn't fit

gTrade (Gains Network): 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
gTrade (Gains Network) RAY/USDlong	L +0.0001% / S +0.0056%	1h	1.7512	long leg	$3K	—	150x
Injective RAY/USDC PERP	+0.0033%	1h	1.6428	−6.190%	$266	$25	5.5x	as long as short
Lighter RAYshort	+0.0096%	1h	1.7533	+0.120%	$244K	$313K	5x
OKX RAY-USDT-SWAP	+0.0100%	8h	1.7510	−0.011%	$4.2M	$12.9M	20x	as long as short
Gate RAY_USDT	+0.0100%	4h	1.7528	+0.092%	$546K	$1.2M	25x	as long as short
KuCoin RAYUSDTM	+0.0100%	4h	1.7514	+0.012%	$1.9M	$820K	50x	as long as short
Bitget RAYUSDT	+0.0100%	4h	1.7515	+0.018%	$2.6M	$4.0M	25x	as long as short
Variational Omni RAY	+0.0100%	4h	1.7526	+0.078%	$675K	$864K	—	as long as short
Bullet RAY-USD	+0.0100%	1h	1.7517	+0.028%	$66K	$28K	10x	as long as short
SunX RAY-USDT	+0.0100%	4h	1.7515	+0.018%	—	$2.4M	10x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX RAY-USDT	+0.0100%	4h	1.7531	+0.109%	$12K	$91K	20x	as long as short
BloFin RAY-USDT	+0.0220%	8h	1.7526	+0.081%	$242K	$933K	20x	as long as short
BingX RAY-USDT	+0.0848%	4h	1.7506	−0.034%	—	$2.0M	—	as long as short
MEXC RAY_USDT	+0.0927%	8h	1.7518	+0.035%	$11.7M	$2.6M	100x	as long as short
Kraken Futures PF_RAYUSD	+0.1351%	1h	1.7554	+0.243%	$86K	$380K	10x	as long as short
Orderly PERP_RAY_USDC	+0.2246%	4h	1.7555	+0.246%	$306K	$395K	10x	as long as short