RAY Funding Rate — live across 9 venues

Perpetual funding · compared across 9 venues · net of estimated fees · updated every few minutes

Live annualized RAY perpetual funding across all 9 venues Perpia tracks. Right now RAY funding is positive on 6 and negative on 3, ranging from +10.9% on Gate.io to -16.4% on Bitget — a spread of 27.4%. The widest delta-neutral trade is long MEXC / short Gate.io at 25.5% net APR.

9venues

6paying positive

27.4%funding spread

Best RAY spread now

25.5%

net APR after fees

LongMEXC↗→ShortGate.io↗

size depends on live venue depth — see the real cap in the scanner

RAY funding trend & liquidity

168h of history

27.4%current gross APR

20.8%24h average

13.1%7-day average

$596Kpair OI · lower leg

$643K24h volume · lower leg

Averages are historical funding over the window shown. A current rate near the 7-day average may indicate the spread has persisted; a rate far above it is usually a short-lived spike. OI and volume are the smaller (binding) leg of the best pair — the ceiling on tradeable size.

RAY · MEXC → Gate.io — no history

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Build a route

any two of the 9 venues

Long (pays you)every 4hShort (you collect)every 4h

Gross spread+27.4%+$7.50 / day on $10,000

Widest routes

This is the widest route right now. The number is gross: fees, the entry spread and slippage are not in it, and both legs must be tradeable for you. The scanner carries the same pairs net of costs.

Venues: pick the two legs

sorted by rate · 9 venues

Venue	Funding APR ↓	Interval
Gate.io↗short	+10.9%	every 4h
BingX↗	+10.9%	every 4h
Variational↗	+10.9%	every 4h
KuCoin↗	+10.9%	every 4h
HTX↗	+10.9%	every 4h
Lighter↗	+10.5%	every 8h
below — these venues pay the longs: this is the leg you buy
OKX↗	−0.8%	every 8h
MEXC↗long	−16.4%	every 4h
Bitget↗	−16.4%	every 4h

Rates annualized; updated ~every few minutes from live venue data. Venue names link to that exchange's full funding table; ↗ opens the market on the exchange itself. Every spread between these two venues is on the MEXC vs Gate.io page. 20 pairs scanned for RAY.

RAY arbitrage — 30-day backtest

long MEXC · short Gate.io

27.2%backtested APR

+$224historical net P&L on $10,000

0.24%max drawdown

$10,000$10,224

30 days agostarting capital $10,000today

Over the last 30 days, holding long MEXC / short Gate.io would have produced 27.2% APR — versus the 25.5% the live spread implies right now (equity $10,000 → $10,224). This is a backtest on historical funding, not a live result: funding drifts and decays, so backtested results rarely match the current headline rate — which is why size and holding window matter more than the top-line number.

Open full interactive backtest →

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RAY — FAQ

Is RAY funding positive right now?

RAY perpetual funding is positive on 6 of 9 venues Perpia tracks and negative on 3. The highest is +10.9% on Gate.io; the lowest is -16.4% on Bitget.

What is the best RAY funding arbitrage right now?

Go long MEXC and short Gate.io for about 25.5% net APR after fees — the widest delta-neutral RAY spread Perpia currently sees.

Which exchange has the highest RAY funding rate?

Gate.io, at +10.9% annualized. Funding shifts continuously, so check the live table above before trading.

How RAY funding arbitrage works

Funding arbitrage combines opposing positions on two venues — long the one paying the most negative funding, short the one paying the most positive — to reduce directional exposure and capture the difference between their funding payments. Fees, slippage, basis divergence and liquidation risk can reduce the result. See the methodology for how it is measured and the guide for the full walkthrough.

Markets related to RAY

also quoted on both Gate.io and MEXC

The same two exchanges you would already have funded for the RAY trade. Every spread between them is on the Gate.io vs MEXC page.

Open the live scanner →All funding rates Funding by exchange How we calculate this