RAY funding rate live
The open-interest-weighted RAY funding rate is 0.0065% per 8 hours (≈7% APR) across 6 perpetual markets, so longs pay shorts. The highest rate is 0.0100% on KuCoin (RAYUSDTM) and the lowest -0.0006% on Bitget (RAYUSDT), a spread of 0.0106% per 8h (≈12% APR). Funding is positive on 4 and negative on 2 of them, so the exchanges disagree on which side is crowded. These markets hold $2.93M of open interest. Rates are converted to an 8-hour equivalent so exchanges with different funding intervals compare directly. Funding is paid every hour on Lighter and every 4 hours on KuCoin, MEXC, Bitget, Gate and HTX. The next payment is on Lighter (RAY) at 14:00 UTC, in 6m, at a predicted 0.00120% for its 1h interval. That is high for RAY: the latest recorded hourly funding rate (0.0037% per 8h) is higher than or equal to 78% of hourly readings since 13 Oct UTC (30 days of history), which ranged from -0.0913% to 0.0100%.
In dollars, at today's rates a $1,000 long pays about $0.20 a day at the average rate, and a $1,000 short receives about the same. On KuCoin (RAYUSDTM) the long would pay $0.30 a day; on Bitget (RAYUSDT) it would receive $0.02 a day. Work out your own size and holding time.
RAY funding rate by exchange
8h equivalent · hover a rate for the exact APR| MarketVenue / native contract | Funding 8h | APR | Interval | Next fundingPredicted next payment | Settles in | Who pays | Open interest | OI share | 24h volume | Price | Trade |
|---|---|---|---|---|---|---|---|---|---|---|---|
| KuCoin RAYUSDTM | 0.0100% | 11% | 4h | 0.0050% 0.0050% predicted 4h interval Longs pay 2026-11-12 16:00 UTC | 2h 06m | Longs pay | $1.79M | 61.1% | $196K | 1.565 | Trade |
| MEXC RAY_USDT | -0.0002% | 0% | 4h | -0.0001% -0.0001% predicted 4h interval Shorts pay 2026-11-12 16:00 UTC | 2h 06m | Shorts pay | $1.66M * | — | $1.33M | 1.565 | Trade |
| Bitget RAYUSDT | -0.0006% | -1% | 4h | -0.0003% -0.0003% predicted 4h interval Shorts pay 2026-11-12 16:00 UTC | 2h 06m | Shorts pay | $961K | 32.8% | $927K | 1.565 | Trade |
| Gate RAY_USDT | 0.0100% | 11% | 4h | 0.0050% 0.0050% predicted 4h interval Longs pay 2026-11-12 16:00 UTC | 2h 06m | Longs pay | $132K | 4.5% | $164K | 1.566 | Trade |
| Lighter RAY | 0.0096% | 11% | 1h | 0.00120% 0.00120% predicted 1h interval Longs pay 2026-11-12 14:00 UTC | 6m | Longs pay | $39K | 1.3% | $3,621 | 1.565 | Trade |
| HTX RAY-USDT | 0.0100% | 11% | 4h | 0.0050% 0.0050% predicted 4h interval Longs pay 2026-11-12 16:00 UTC | 2h 06m | Longs pay | $9,004 | 0.3% | $27K | 1.566 | Trade |
Sorted by open interest. Exchanges settle funding every 1, 4 or 8 hours. Funding 8h and APR convert every rate to 8 hours so they compare directly; Next funding is the predicted payment for the market's own interval at its next settlement, which moves with the premium until then. Where an exchange publishes no settlement time (Hyperliquid, Gate), it is the next whole interval on the UTC clock, when those exchanges settle. Trade links go to the exchange and may be referral links. Compare every coin on the funding rates page.
RAY daily funding observations
Daily mean of recorded hourly cross-venue funding quotes, OI-weighted within each hour and expressed as an 8h-equivalent rate. These are quote observations, not settled funding payments or realized yield. This differs from the all-market recap’s market-day/mean-OI weighting.
UTC calendar dates from the source read; today is partial and shown so far. Coverage counts finite observed hourly buckets out of 24; missing or conflicting buckets are unavailable.
| Date (UTC) | Mean quote / 8h | Observed hours | Coverage |
|---|---|---|---|
| · so far | -0.0027% | 14 / 24 | Partial |
| 0.0025% | 24 / 24 | Complete | |
| 0.0097% | 24 / 24 | Complete | |
| 0.0056% | 24 / 24 | Complete | |
| 0.0013% | 24 / 24 | Complete | |
| -0.0024% | 24 / 24 | Complete | |
| 0.0005% | 24 / 24 | Complete |
RAY funding history
From recorded history, hourlyRAY recorded funding quotes have averaged 0.0021% per 8 hours over the past 7 days (≈2% APR, annualized quote). Recorded hourly quote readings were 65% positive, 35% negative and 0% zero. Over the last 24 hours RAY funding averaged 0.0009% per 8h, down from 0.0044% the 24 hours before.
RAY funding rate
OI-weighted, 8hLoading chart…
Not recorded Chart: TradingView Lightweight Charts™
RAY funding rate by exchange
8h equivalent, per exchangeLoading chart…
Not recorded Chart: TradingView Lightweight Charts™
About the RAY funding rate
What is the RAY funding rate?
RAY perpetual futures never expire, so exchanges keep their price near spot with funding: a periodic payment between longs and shorts. When the perp trades above spot, the rate is positive and longs pay shorts; below spot it turns negative and shorts pay longs. The payment is a percentage of position size, charged every 1, 4 or 8 hours depending on the exchange.
How to read it
Binance and Bybit's default rate when the perp is in line with spot is 0.0100% per 8h (about 11% APR). Well above that means leveraged longs are paying up to hold RAY; negative means shorts are crowded. The APR column shows what holding a position costs or earns over a year at today's rate. A wide spread between exchanges is what funding arbitrage traders look for.
Why do exchanges show different rates?
Each exchange computes funding from its own order book and premium, so the RAY rate differs by venue, and intervals differ too. Swolecharts converts every rate to an 8-hour equivalent and weights the headline figure by open interest. Rates update every few seconds from the exchanges' public feeds.
When is the next RAY funding payment?
The next known RAY funding payment is on Lighter (RAY) at 2026-11-12 14:00 UTC, for its 1h interval, with a predicted payment of 0.00120%. Funding is paid every hour on Lighter and every 4 hours on KuCoin, MEXC, Bitget, Gate and HTX. The predicted payment uses the market’s native interval; the Funding 8h rate is an 8-hour equivalent for comparison. Only traders holding a position at the settlement time pay or receive. The Next funding column is the predicted payment for that interval: the rate the exchange currently shows, which keeps moving with the perp's premium until settlement, so the final figure can differ. The funding history below shows how the RAY rate has moved.