RAY

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0447%/8h= +48.9% APRnext payment +$0.56 per $10,000 · paid last 24h +0.144%

Price spread now: Lighter against Injective+6.312%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 +$13 a day on $10k at the current rate, and Lighter is 6.312% dearer against Injective than usual: you sell high and buy low: +$631 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	34m 23s	$266	$25	5.5x
Short	Lighter RAY	1.7465	0.0480	get 0.0060% / 1h	34m 23s	$246K	$309K	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 +6.312%Rate

Funding earned: $93.8
Price spread: +6.312% → 0.000%: $631.24
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: $725.02
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; Lighter: live order book, 61 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, 61 min ago	4.47 bp	31.1 bp −$31	125.0 bp −$1,250	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	−0.1576%	1h	1.7543	+6.789%	$86K	$397K	10x	as long as short
gTrade (Gains Network) RAY/USD	L +0.0001% / S +0.0056%	1h	1.7427	+6.080%	$431	—	150x	as long as short
Injective RAY/USDC PERPlong	+0.0033%	1h	1.6428	long leg	$266	$25	5.5x
OKX RAY-USDT-SWAP	+0.0100%	8h	1.7419	+6.032%	$4.2M	$12.9M	20x	as long as short
Gate RAY_USDT	+0.0100%	4h	1.7446	+6.197%	$544K	$1.2M	25x	as long as short
KuCoin RAYUSDTM	+0.0100%	4h	1.7441	+6.166%	$1.9M	$831K	50x	as long as short
Bitget RAYUSDT	+0.0100%	4h	1.7436	+6.136%	$2.6M	$4.0M	25x	as long as short
Variational Omni RAY	+0.0100%	4h	1.7444	+6.183%	$671K	$870K	—	as long as short
Bullet RAY-USD	+0.0100%	1h	1.7436	+6.137%	$65K	$66K	10x	as long as short
SunX RAY-USDT	+0.0100%	4h	1.7506	+6.562%	—	$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	1.7439	+6.154%	$13K	$91K	20x	as long as short
BloFin RAY-USDT	+0.0220%	8h	1.7496	+6.501%	$247K	$932K	20x	as long as short
Lighter RAYshort	+0.0480%	1h	1.7465	+6.312%	$246K	$309K	5x
MEXC RAY_USDT	+0.0711%	8h	1.7442	+6.172%	$11.8M	$2.5M	100x	as long as short
BingX RAY-USDT	+0.0728%	4h	1.7441	+6.166%	—	$2.0M	—	as long as short
Orderly PERP_RAY_USDC	+0.1871%	4h	1.7466	+6.318%	$313K	$391K	10x	as long as short