RAY funding rates and arbitrage

RAY perpetuals trade on 12 contracts across 12 venues, forming 66 cross-venue arbitrage pairs. By net APR the current best pair is long Bitget against short Kraken, netting +46.28%, though note the legs settle on different cadences (4h / 1h)。

RAY perpetual funding rates by venue

APR = current rate × (24 ÷ settlement interval) × 365. Venues settle on different cadences, so rates must be annualised before comparing.

Venue	Contract	Margin	Settlement	Current rate	APR	24h avg APR	24h volume	Mark
OKX	RAY-USDT-SWAP	USDT	8h	-0.0023%	-2.50%	-15.13%	$13.3M	1.886
MEXC	RAY_USDT	USDT	4h	-0.0075%	-16.42%	-26.36%	$2.5M	1.885
BingX	RAY-USDT	USDT	4h	0.0050%	+10.95%	-4.41%	$2.3M	1.884
Bitget	RAYUSDT	USDT	4h	-0.0075%	-16.42%	-26.37%	$1.9M	1.886
LBank	RAYUSDT	USDT	4h	-0.0075%	-16.42%	-26.33%	$1.6M	1.885
Gate	RAY_USDT	USDT	4h	0.0050%	+10.95%	-8.97%	$638K	1.885
KuCoin	RAYUSDTM	USDT	4h	0.0050%	+10.95%	-0.74%	$633K	1.885
Kraken	PF_RAYUSD	USD	1h	0.0034%	+29.86%	-40.62%	$337K	1.886
HTX	RAY-USDT	USDT	4h	0.0050%	+10.95%	+10.95%	$69K	1.908
Lighter	RAY	USDC	1h	0.0012%	+10.51%	+10.51%	$32K	1.886
Crypto.com	RAYUSD-PERP	USD	4h	0.0080%	+17.60%	-1.00%	$6K	1.886
Coinbase	RAY-PERP	USDC	1h	0.0032%	+28.03%	+28.03%	$2K	0.66500

RAY cross-venue arbitrage pairs

Short the higher-APR leg and go long the lower one; net APR = short leg − long leg.

Long	Short	Net APR	Daily	24h avg	Settlement	Liquidity
Bitget USDT	Kraken USD	+46.28%	0.1268%	-14.25%	4h / 1h	$337K
LBank USDT	Kraken USD	+46.28%	0.1268%	-14.29%	4h / 1h	$337K
MEXC USDT	Kraken USD	+46.28%	0.1268%	-14.26%	4h / 1h	$337K
Bitget USDT	Coinbase USDC	+44.46%	0.1218%	+54.40%	4h / 1h	$2K
LBank USDT	Coinbase USDC	+44.46%	0.1218%	+54.37%	4h / 1h	$2K
MEXC USDT	Coinbase USDC	+44.46%	0.1218%	+54.39%	4h / 1h	$2K
Bitget USDT	Crypto.com USD	+34.03%	0.0932%	+25.37%	4h matched	$6K
LBank USDT	Crypto.com USD	+34.03%	0.0932%	+25.33%	4h matched	$6K
MEXC USDT	Crypto.com USD	+34.03%	0.0932%	+25.36%	4h matched	$6K
OKX USDT	Kraken USD	+32.36%	0.0887%	-25.50%	8h / 1h	$337K
OKX USDT	Coinbase USDC	+30.53%	0.0836%	+43.16%	8h / 1h	$2K
Bitget USDT	BingX USDT	+27.38%	0.0750%	+21.96%	4h matched	$1.9M

Raydium project profile

Website GitHub X (Twitter)Telegram Discord

Key facts

Total: 555.00M
Max supply: 555.00M
Type: Token
Market cap rank: #116

Decentralized Exchange (DEX)Exchange-based TokensDecentralized Finance (DeFi)Yield FarmingAutomated Market Maker (AMM)PerpetualsSolana EcosystemLaunchpad

Contract addresses

solana4k3Dyjzvzp8eMZWUXbBCjEvwSkkk59S5iCNLY3QrkX6R

Block explorers

solscan.io intel.arkm.com

About

Raydium is an automated market maker (AMM) and liquidity provider built on the Solana blockchain for the Serum decentralized exchange (DEX). Raydium has a first-mover advantage as an AMM within Serum and will be an integral part of bringing new and existing projects and protocols into the ecosystem. The protocol will act as a bridge for projects looking to expand to Solana and Serum, and in the process Raydium and the RAY token will become a foundation for enabling further development with partners, its own platform, and the ecosystem as a whole. Unlike any other AMMs, Raydium provides on-chain liquidity to a central limit orderbook, meaning that Raydium LPs get access to the entire orderflow and liquidity of Serum. Long term, Raydium aims to capture and maintain a leadership position among AMMs and liquidity providers on Serum, while leveraging the power of Solana to drive the evolution of decentralized finance (DeFi) and emerge as a leading protocol in the space alongside our partners and the community."

Reference data from CoinGecko, independent of the rate data on this site. We do not verify or endorse what these links contain.

Funding rates for other coins

RE+28.6%REZ+154.6%RKLB+10.9%SAMSUNG+131.6%SKHYNIX+394.1%SKR+105.2%SOPH+164.5%SOXS+77.6%SUPER+125.3%TNSR+12.9%TOWNS+33.2%TRIA+15.8%

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