RAY

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0352%/8h= −38.5% APRnext payment −$0.44 per $10,000 · paid last 24h −0.177%

Price spread now: gTrade (Gains Network) against Lighter−0.110%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 gTrade (Gains Network)

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 against this trade now: funding costs −$11 a day on $10k at the current rate, and gTrade (Gains Network) is 0.110% cheaper against Lighter than usual: you would sell low and buy high (−$11 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	1.7540	0.0296	pay 0.0037% / 1h	0m 17s	$238K	$321K	5x
Short	gTrade (Gains Network) RAY/USD	1.7521	L +0.0001% / S +0.0056%	pay 0.0007% / 1h	0m 17s	$3K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now −0.110%Rate

Funding earned: −$73.83
Price spread: −0.110% → 0.000%: −$11
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$94.84
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Lighter: live order book, 25 min ago; gTrade (Gains Network): 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, 25 min ago	5.68 bp	23.5 bp −$24	122.4 bp −$1,224	doesn't fit	doesn't fit
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

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/USDshort	L +0.0001% / S +0.0056%	1h	1.7521	−0.110%	$3K	—	150x
Injective RAY/USDC PERP	+0.0033%	1h	1.6428	−6.340%	$266	$25	5.5x	as long as short
MEXC RAY_USDT	+0.0050%	8h	1.7536	−0.023%	$11.7M	$2.6M	100x	as long as short
OKX RAY-USDT-SWAP	+0.0100%	8h	1.7528	−0.068%	$4.2M	$12.8M	20x	as long as short
Gate RAY_USDT	+0.0100%	4h	1.7517	−0.131%	$547K	$1.2M	25x	as long as short
KuCoin RAYUSDTM	+0.0100%	4h	1.7522	−0.103%	$1.9M	$822K	50x	as long as short
Bitget RAYUSDT	+0.0100%	4h	1.7531	−0.051%	$2.6M	$4.0M	25x	as long as short
BingX RAY-USDT	+0.0100%	4h	1.7523	−0.097%	—	$2.0M	—	as long as short
Variational Omni RAY	+0.0100%	4h	1.7502	−0.214%	$655K	$887K	—	as long as short
Bullet RAY-USD	+0.0100%	1h	1.7533	−0.040%	$66K	$28K	10x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX RAY-USDT	+0.0100%	4h	1.7528	−0.068%	—	$2.4M	10x	as long as short
HTX RAY-USDT	+0.0100%	4h	1.7502	−0.217%	$13K	$91K	20x	as long as short
BloFin RAY-USDT	+0.0220%	8h	1.7520	−0.114%	$240K	$875K	20x	as long as short
Lighter RAYlong	+0.0296%	1h	1.7540	long leg	$238K	$321K	5x
Kraken Futures PF_RAYUSD	+0.1352%	1h	1.7548	+0.047%	$86K	$376K	10x	as long as short
Orderly PERP_RAY_USDC	+0.2274%	4h	1.7559	+0.108%	$310K	$396K	10x	as long as short