RAY funding rates and arbitrage
Updated 2026-10-29 14:11 UTC
Best RAY arbitrage after every cost
No RAY pair nets a profit at this size right now.
At $10,000 per side, held 7 days, after taker fees, order-book slippage and carry.
RAY funding rate on every exchange
| Exchange | Contract | Rate | Every | Annualised | Settled 7d, annualised | Open interest | Next settlement |
|---|---|---|---|---|---|---|---|
| Kraken | PF_RAYUSD | 0.0057% | 1 h | +50.3% | −77.2% | $231K | 2026-10-29 15:00 |
| Crypto.com | RAYUSD-PERP | 0.0046% | 1 h | +40.4% | +28.4% | $14.6K | 2026-10-29 15:00 |
| HTX | RAY-USDT | 0.0050% | 4 h | +10.9% | +11.1% | $14.7K | 2026-10-29 16:00 |
| Lighter | RAY | 0.0012% | 1 h | +10.5% | −2.7% | $109K | 2026-10-29 15:00 |
| TXFlow | RAY-USDC | 0.0005% | 1 h | +4.3% | — | $104.6K | 2026-10-29 15:00 |
| KuCoin | RAYUSDTM | -0.0048% | 4 h | −10.5% | −31.7% | $2.1M | 2026-10-29 16:00 |
| Variational | RAY-PERP | -0.0088% | 4 h | −19.3% | — | $348.8K | 2026-10-29 16:00 |
| BingX | RAY-USDT | -0.0098% | 4 h | −21.5% | −13.5% | $907.3K | 2026-10-29 16:00 |
| MEXC | RAY_USDT | -0.0126% | 4 h | −27.6% | −32.6% | $2.4M | 2026-10-29 16:00 |
| LBank | RAYUSDT | -0.0126% | 4 h | −27.6% | — | — | 2026-10-29 16:00 |
| Bitget | RAYUSDT | -0.0127% | 4 h | −27.8% | −32.7% | $2.5M | 2026-10-29 16:00 |
| Phoenix | RAY | -0.0048% | 1 h | −42.1% | −44.0% | — | 2026-10-29 15:00 |
| OKX | RAY-USDT-SWAP | -0.0406% | 8 h | −44.5% | −31.6% | $3.8M | 2026-10-29 16:00 |
| BloFin | RAY-USDT | -0.0413% | 8 h | −45.2% | −20.6% | $218.3K | 2026-10-29 16:00 |
| Gate | RAY_USDT | -0.0276% | 4 h | −60.4% | −35.2% | $262.3K | 2026-10-29 16:00 |
| Bitunix | RAYUSDT | -0.0332% | 4 h | −72.8% | −58.8% | — | 2026-10-29 16:00 |
| Bullet | RAY-USD | -0.0118% | 1 h | −103.6% | — | $151.2K | 2026-10-29 15:00 |
Borrow RAY to sell spot
| Exchange | Borrow APR | Per-account limit |
|---|---|---|
| Bitget | 26.81% | — |
| OKX | 28.38% | — |
| Binance | 47.15% | — |
| Gate | 71.65% | $30K |
Cost to enter $10,000 of RAY
| Exchange | Contract | Fee + slippage | Source |
|---|---|---|---|
| OKX | RAY-USDT-SWAP | 11.9 bp | live order book |
| KuCoin | RAYUSDTM | 21.8 bp | live order book |
| Variational | RAY-PERP | 3.9 bp | top of book only |
| MEXC | RAY_USDT | 5.2 bp | top of book only |
| BingX | RAY-USDT | 5.3 bp | top of book only |
| BloFin | RAY-USDT | 6.6 bp | top of book only |
| Gate | RAY_USDT | 7.8 bp | top of book only |
| Bitget | RAYUSDT | 8.1 bp | top of book only |
| Binance | RAYUSDT (spot) | 10.9 bp | top of book only |
| OKX | RAY-USDT (spot) | 10.9 bp | top of book only |
| Bitget | RAYUSDT (spot) | 13.0 bp | top of book only |
| Lighter | RAY | 17.2 bp | top of book only |
Taker fee plus slippage of a market buy of $10,000 from the mid price, at standard (VIP0) fees.
More on RAY
Questions
Is RAY funding-rate arbitrage profitable right now?
Not at $10,000 per side for 7 days: no RAY pair shows a verified profit after fees and order-book slippage right now. Rates change every hour; the live page re-ranks continuously.
Which exchange has the highest RAY funding rate?
Kraken at +50.3% a year (0.0057% every 1 h); the lowest is Bullet at −103.6%. A positive rate is paid by longs to shorts, a negative one by shorts to longs.
The method behind every number on AfterFees is published; Pro opens each figure into its line-by-line calculation. Estimates from current data, not investment advice. We never hold funds or trade for you.