RAY perpetuals
Compare funding costs for one asset across venues.
Data as of 2026-10-15 04:09 UTC
RAY is quoted on 4 contracts. The highest funding rate is on Bitget at +10.95% annualised, quoted per 4h, and the lowest is on Lighter at -14.02% — a gap of 24.97 points. Rate periods differ across these contracts, so each is converted to a simple annualised figure before comparison.
By venue
| Venue | Rate | Annualised | 30d realised APR | Max leverage | 24h turnover | Actions |
|---|---|---|---|---|---|---|
| BitgetCentralisedRAYUSDT | +0.0050%4h | +10.95% | +1.62% |
25x | 3.3M | |
| GateCentralisedRAY_USDT | +0.0050%4h | +10.95% | +2.51% |
25x | 863.2K | |
| OKXCentralisedRAY-USDT-SWAP | +0.0100%8h | +10.95% | -1.86% |
20x | 17.9M | |
| LighterOn-chainRAY | -0.0128%8h | -14.02% | — no history yet |
5x | 77.2K |
Common questions
Which exchanges list RAY perpetual futures?
RAY trades as 4 perpetual contracts across 4 venues: Bitget, Gate, Lighter and OKX. The busiest is OKX, with $17.9M of 24h turnover — 81% of the total.
Where is RAY funding cheapest right now?
For a long, the most favourable collected rate is -14.02% annualised on Lighter; for a short, it is +10.95% on Bitget — a gap of 24.97 points. Venues disagree on direction: a long is paid on Lighter but pays on Bitget.
How much funding does a 10,000 USDT RAY position pay per day?
At current rates a 10,000 USDT long pays about +3.00 USDT a day on Bitget and -3.84 USDT on Lighter. Over the past 30 days Bitget actually settled an average of +0.44 USDT a day on the same position. A negative figure means the long is paid.
How often does RAY funding settle?
It depends on the venue: Lighter every 1h; Bitget and Gate every 4h; OKX every 8h.
What has RAY funding actually paid over the past 30 days?
The highest realised figure was on Gate: +2.51% annualised across 172 settlements, 20% of them negative. The lowest was OKX, at -1.86%. 3 of the 4 contracts have at least a week of settled history to measure.
What is the highest leverage available on RAY?
The highest collected cap is 25x, on Bitget and Gate. On Bitget it applies up to 5K USDT of notional; above that the cap drops to 20x.
Further readingCross-venue funding spreads: from gross rates to net P&LHow funding fees work: amounts, signs and settlementHow liquidation price is calculated: tiered maintenance margin and deductions
RAY comparison scope and payment direction
This page retains low-turnover RAY contracts without the main ranking’s $1M threshold. Positive funding is paid by longs; negative funding is paid by shorts. High and low are rate values, not recommendations. These contracts quote in USD and USDT; check each specification for settlement currency and multiplier before comparing. Annualisation method · Official sources.
Rates and chart methodology
Annualised over the window sums what actually settled on that contract, then extrapolates across the hours those settlements covered — it is not today's rate projected forward. A contract listed less than 30 days ago is extrapolated from its own span. The grey line is zero: above it longs pay, below it shorts pay. Every row in that column shares one vertical scale, so their swings can be compared directly.
Trading link disclosure
Affiliate disclosure: We may earn a commission if you register and trade through some links. Partnerships do not influence the data displayed or rankings.
Margin ladders
Bitget · RAYUSDT No deduction
| Tier | Range | Maintenance rate | Max leverage | Deduction |
|---|---|---|---|---|
| 1 | 0 – 5000 quote | 2.0000% | 25.00x | — |
| 2 | 5000 – 10000 quote | 2.5000% | 20.00x | — |
| 3 | 10000 – 20000 quote | 4.0000% | 15.00x | — |
| 4 | 20000 – 30000 quote | 5.0000% | 10.00x | — |
| 5 | 30000 – 50000 quote | 10.0000% | 5.00x | — |
| 6 | 50000 – 250000 quote | 17.0000% | 3.00x | — |
| 7 | 250000 – 2500000 quote | 30.0000% | 2.00x | — |
| 8 | 2500000 – ∞ quote | 60.0000% | 1.00x | — |
Gate · RAY_USDT With deduction
| Tier | Range | Maintenance rate | Max leverage | Deduction |
|---|---|---|---|---|
| 1 | 0 – 10000 quote | 2.0000% | 25.00x | — |
| 2 | 10000 – 20000 quote | 2.5000% | 20.00x | 50 |
| 3 | 20000 – 30000 quote | 3.5000% | 18.00x | 250 |
| 4 | 30000 – 50000 quote | 4.5000% | 16.00x | 550 |
| 5 | 50000 – 70000 quote | 6.0000% | 12.00x | 1300 |
| 6 | 70000 – 100000 quote | 8.0000% | 10.00x | 2700 |
| 7 | 100000 – 200000 quote | 10.0000% | 8.00x | 4700 |
| 8 | 200000 – 300000 quote | 15.0000% | 5.00x | 14700 |
| 9 | 300000 – 500000 quote | 20.0000% | 4.00x | 29700 |
| 10 | 500000 – 700000 quote | 28.0000% | 3.00x | 69700 |
| 11 | 700000 – 1000000 quote | 45.0000% | 2.00x | 188700 |
| 12 | 1000000 – 1500000 quote | 60.0000% | 1.50x | 338700 |
| 13 | 1500000 – 2000000 quote | 78.0000% | 1.20x | 608700 |
| 14 | 2000000 – ∞ quote | 90.0000% | 1.05x | 848700 |
OKX · RAY-USDT-SWAP No deduction
| Tier | Range | Maintenance rate | Max leverage | Deduction |
|---|---|---|---|---|
| 1 | 0 – 18000 base | 2.0000% | 20.00x | — |
| 2 | 18001 – 35000 base | 3.0000% | 15.00x | — |
| 3 | 35001 – 52000 base | 4.0000% | 12.50x | — |
| 4 | 52001 – 72000 base | 4.5000% | 11.76x | — |
| 5 | 72001 – 90000 base | 5.0000% | 11.11x | — |
| 6 | 90001 – 108000 base | 5.5000% | 10.52x | — |
| 7 | 108001 – 126000 base | 6.0000% | 10.00x | — |
| 8 | 126001 – 144000 base | 6.5000% | 9.52x | — |
| 9 | 144001 – 162000 base | 7.0000% | 9.09x | — |
| 10 | 162001 – 180000 base | 7.5000% | 8.69x | — |
| 11 | 180001 – 198000 base | 8.0000% | 8.33x | — |
| 12 | 198001 – 216000 base | 8.5000% | 8.00x | — |
| 13 | 216001 – 234000 base | 9.0000% | 7.69x | — |
| 14 | 234001 – 252000 base | 9.5000% | 7.40x | — |
| 15 | 252001 – 270000 base | 10.0000% | 7.14x | — |
| 16 | 270001 – 288000 base | 10.5000% | 6.89x | — |
| 17 | 288001 – 306000 base | 11.0000% | 6.66x | — |
| 18 | 306001 – 324000 base | 11.5000% | 6.45x | — |
| 19 | 324001 – 342000 base | 12.0000% | 6.25x | — |
| 20 | 342001 – 360000 base | 12.5000% | 6.06x | — |
| 21 | 360001 – 378000 base | 13.0000% | 5.88x | — |
| 22 | 378001 – 396000 base | 13.5000% | 5.71x | — |
| 23 | 396001 – 414000 base | 14.0000% | 5.55x | — |
| 24 | 414001 – 432000 base | 14.5000% | 5.40x | — |
| 25 | 432001 – 450000 base | 15.0000% | 5.26x | — |
| 26 | 450001 – 468000 base | 15.5000% | 5.12x | — |
| 27 | 468001 – 486000 base | 16.0000% | 5.00x | — |
| 28 | 486001 – 504000 base | 16.5000% | 4.87x | — |
| 29 | 504001 – 522000 base | 17.0000% | 4.76x | — |
| 30 | 522001 – 540000 base | 17.5000% | 4.65x | — |
| 31 | 540001 – 558000 base | 18.0000% | 4.54x | — |
| 32 | 558001 – 576000 base | 18.5000% | 4.44x | — |
| 33 | 576001 – 594000 base | 19.0000% | 4.34x | — |
| 34 | 594001 – 612000 base | 19.5000% | 4.25x | — |
| 35 | 612001 – 630000 base | 20.0000% | 4.16x | — |
| 36 | 630001 – 648000 base | 20.5000% | 4.08x | — |
| 37 | 648001 – 666000 base | 21.0000% | 4.00x | — |
| 38 | 666001 – 684000 base | 21.5000% | 3.92x | — |
| 39 | 684001 – 702000 base | 22.0000% | 3.84x | — |
| 40 | 702001 – 720000 base | 22.5000% | 3.77x | — |
| 41 | 720001 – 738000 base | 23.0000% | 3.70x | — |
| 42 | 738001 – 756000 base | 23.5000% | 3.63x | — |
| 43 | 756001 – 774000 base | 24.0000% | 3.57x | — |
| 44 | 774001 – 792000 base | 24.5000% | 3.50x | — |
| 45 | 792001 – 810000 base | 25.0000% | 3.44x | — |
| 46 | 810001 – 828000 base | 25.5000% | 3.38x | — |
| 47 | 828001 – 846000 base | 26.0000% | 3.33x | — |
| 48 | 846001 – 864000 base | 26.5000% | 3.27x | — |
| 49 | 864001 – 882000 base | 27.0000% | 3.22x | — |
| 50 | 882001 – 900000 base | 27.5000% | 3.17x | — |
| 51 | 900001 – 918000 base | 28.0000% | 3.12x | — |
| 52 | 918001 – 936000 base | 28.5000% | 3.07x | — |
| 53 | 936001 – 954000 base | 29.0000% | 3.03x | — |
| 54 | 954001 – 972000 base | 29.5000% | 2.98x | — |
| 55 | 972001 – 990000 base | 30.0000% | 2.94x | — |
| 56 | 990001 – 1008000 base | 30.5000% | 2.89x | — |
| 57 | 1008001 – 1026000 base | 31.0000% | 2.85x | — |
| 58 | 1026001 – 1044000 base | 31.5000% | 2.81x | — |
| 59 | 1044001 – 1062000 base | 32.0000% | 2.77x | — |
| 60 | 1062001 – 1080000 base | 32.5000% | 2.73x | — |
| 61 | 1080001 – 1098000 base | 33.0000% | 2.70x | — |
| 62 | 1098001 – 1116000 base | 33.5000% | 2.66x | — |
| 63 | 1116001 – 1134000 base | 34.0000% | 2.63x | — |
| 64 | 1134001 – 1152000 base | 34.5000% | 2.59x | — |
| 65 | 1152001 – 1170000 base | 35.0000% | 2.56x | — |
| 66 | 1170001 – 1188000 base | 35.5000% | 2.53x | — |
| 67 | 1188001 – 1206000 base | 36.0000% | 2.50x | — |
| 68 | 1206001 – 1224000 base | 36.5000% | 2.46x | — |
| 69 | 1224001 – 1242000 base | 37.0000% | 2.43x | — |
| 70 | 1242001 – 1260000 base | 37.5000% | 2.40x | — |
| 71 | 1260001 – 1278000 base | 38.0000% | 2.38x | — |
| 72 | 1278001 – 1296000 base | 38.5000% | 2.35x | — |
| 73 | 1296001 – 1314000 base | 39.0000% | 2.32x | — |
| 74 | 1314001 – 1332000 base | 39.5000% | 2.29x | — |
| 75 | 1332001 – 1350000 base | 40.0000% | 2.27x | — |
| 76 | 1350001 – 1368000 base | 40.5000% | 2.24x | — |
| 77 | 1368001 – 1386000 base | 41.0000% | 2.22x | — |
| 78 | 1386001 – 1404000 base | 41.5000% | 2.19x | — |
| 79 | 1404001 – 1422000 base | 42.0000% | 2.17x | — |
| 80 | 1422001 – 1440000 base | 42.5000% | 2.15x | — |
| 81 | 1440001 – 1458000 base | 43.0000% | 2.12x | — |
| 82 | 1458001 – 1476000 base | 43.5000% | 2.10x | — |
| 83 | 1476001 – 1494000 base | 44.0000% | 2.08x | — |
| 84 | 1494001 – 1512000 base | 44.5000% | 2.06x | — |
| 85 | 1512001 – 1530000 base | 45.0000% | 2.04x | — |
| 86 | 1530001 – 1548000 base | 45.5000% | 2.02x | — |
| 87 | 1548001 – 1566000 base | 46.0000% | 2.00x | — |
Lighter · RAY No deduction
| Tier | Range | Maintenance rate | Max leverage | Deduction |
|---|---|---|---|---|
| 1 | 0 – ∞ quote | 12.0000% | 5.00x | — |