RAY

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0180%/8h= −19.7% APRnext payment −$0.23 per $10,000 · paid last 24h −0.134%

Price spread now: Bullet against Lighter−0.142%7-day average — · you buy dearer than you sell

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

Long on Lighter Short on Bullet

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 against this trade now: funding costs −$5 a day on $10k at the current rate, and Bullet is 0.142% cheaper against Lighter than usual: you would sell low and buy high (−$14 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RAY	1.7613	0.0280	pay 0.0035% / 1h	31m 22s	$229K	$337K	5x
Short	Bullet RAY-USD	1.7588	0.0100	get 0.0013% / 1h	31m 22s	$66K	$28K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet against Lighter. 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 LighterbpFee BulletbpOrdersPrice spread, now −0.142%Rate

Funding earned: −$37.8
Price spread: −0.142% → 0.000%: −$14.24
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Bullet: 4 bp × 2 orders: −$8
Net: −$60.04
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: Lighter: live order book, 49 min ago; Bullet: no order-book sample. 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 Lighter live order book, 49 min ago	4.55 bp	17.9 bp −$18	108.9 bp −$1,089	doesn't fit	doesn't fit
Sell Bullet no order-book sample	—	—	—	—	—

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
gTrade (Gains Network) RAY/USD	L +0.0001% / S +0.0056%	1h	1.7582	−0.175%	$3K	—	150x	as long as short
Injective RAY/USDC PERP	+0.0033%	1h	1.6428	−6.728%	$266	$25	5.5x	as long as short
MEXC RAY_USDT	+0.0050%	8h	1.7591	−0.125%	$11.6M	$2.5M	100x	as long as short
OKX RAY-USDT-SWAP	+0.0100%	8h	1.7586	−0.153%	$4.1M	$12.7M	20x	as long as short
Gate RAY_USDT	+0.0100%	4h	1.7583	−0.170%	$546K	$1.1M	25x	as long as short
KuCoin RAYUSDTM	+0.0100%	4h	1.7585	−0.159%	$1.8M	$829K	50x	as long as short
Bitget RAYUSDT	+0.0100%	4h	1.7593	−0.114%	$2.6M	$3.9M	25x	as long as short
BingX RAY-USDT	+0.0100%	4h	1.7587	−0.148%	—	$2.0M	—	as long as short
Variational Omni RAY	+0.0100%	4h	1.7663	+0.282%	$662K	$805K	—	as long as short
Bullet RAY-USDshort	+0.0100%	1h	1.7588	−0.142%	$66K	$28K	10x

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX RAY-USDT	+0.0100%	4h	1.7595	−0.102%	—	$2.3M	10x	as long as short
HTX RAY-USDT	+0.0100%	4h	1.7561	−0.295%	$13K	$89K	20x	as long as short
BloFin RAY-USDT	+0.0120%	8h	1.7582	−0.176%	$239K	$864K	20x	as long as short
Lighter RAYlong	+0.0280%	1h	1.7613	long leg	$229K	$337K	5x
Kraken Futures PF_RAYUSD	+0.1971%	1h	1.7631	+0.100%	$93K	$380K	10x	as long as short
Orderly PERP_RAY_USDC	+0.2113%	4h	1.7622	+0.051%	$311K	$386K	10x	as long as short