RAY funding rates and arbitrage
Updated 2026-11-11 22:51 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 | 0.0142% | 1 h | +124.5% | −9.8% | $202K | 2026-11-11 23:00 |
| KuCoin | RAYUSDTM | 0.0050% | 4 h | +10.9% | −9.2% | $1.9M | 2026-11-12 00:00 |
| HTX | RAY-USDT | 0.0050% | 4 h | +10.9% | +11.0% | $8.6K | 2026-11-12 00:00 |
| BingX | RAY-USDT | 0.0050% | 4 h | +10.9% | +5.0% | $907.3K | 2026-11-12 00:00 |
| TXFlow | RAY-USDC | 0.0013% | 1 h | +10.9% | — | $93.1K | 2026-11-11 23:00 |
| Variational | RAY-PERP | 0.0050% | 4 h | +10.9% | +3.3% | $197.1K | 2026-11-12 00:00 |
| Lighter | RAY | 0.0012% | 1 h | +10.5% | +3.4% | $40.2K | 2026-11-11 23:00 |
| OKX | RAY-USDT-SWAP | -0.0010% | 8 h | −1.0% | −7.2% | $2.5M | 2026-11-12 00:00 |
| BloFin | RAY-USDT | -0.0032% | 8 h | −3.5% | −6.8% | $174.1K | 2026-11-12 00:00 |
| Bitunix | RAYUSDT | -0.0023% | 4 h | −5.0% | −3.1% | — | 2026-11-12 00:00 |
| Bitget | RAYUSDT | -0.0023% | 4 h | −5.0% | +1.1% | $2M | 2026-11-12 00:00 |
| LBank | RAYUSDT | -0.0023% | 4 h | −5.0% | +6.7% | — | 2026-11-12 00:00 |
| MEXC | RAY_USDT | -0.0024% | 4 h | −5.3% | +1.0% | $1.9M | 2026-11-12 00:00 |
| Gate | RAY_USDT | -0.0025% | 4 h | −5.5% | +6.8% | $134.1K | 2026-11-12 00:00 |
| Bullet | RAY-USD | -0.0021% | 1 h | −18.6% | — | $78K | 2026-11-11 23:00 |
| Phoenix | RAY | -0.0024% | 1 h | −21.4% | −25.3% | — | 2026-11-11 23:00 |
| Crypto.com | RAYUSD-PERP | -0.0128% | 1 h | −111.7% | +3.7% | $5.1K | 2026-11-11 23:00 |
Borrow RAY to sell spot
| Exchange | Borrow APR | Per-account limit |
|---|---|---|
| OKX | 7.05% | — |
| Bitget | 7.05% | — |
| Binance | 42.52% | — |
| Gate | 50.64% | $30K |
Cost to enter $10,000 of RAY
| Exchange | Contract | Fee + slippage | Source |
|---|---|---|---|
| Kraken | PF_RAYUSD | 41.9 bp | live order book |
| Variational | RAY-PERP | 4.0 bp | top of book only |
| Lighter | RAY | 5.0 bp | top of book only |
| OKX | RAY-USDT-SWAP | 5.3 bp | top of book only |
| BingX | RAY-USDT | 5.3 bp | top of book only |
| MEXC | RAY_USDT | 6.8 bp | top of book only |
| BloFin | RAY-USDT | 7.9 bp | top of book only |
| Bitget | RAYUSDT | 8.8 bp | top of book only |
| KuCoin | RAYUSDTM | 10.6 bp | top of book only |
| OKX | RAY-USDT (spot) | 10.9 bp | top of book only |
| Gate | RAY_USDT | 11.5 bp | top of book only |
| Binance | RAYUSDT (spot) | 12.8 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 +124.5% a year (0.0142% every 1 h); the lowest is Crypto.com at −111.7%. 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.