RAY funding rate on Variational
Over the last 30 days, RAY funding on Variational averaged -54.5% APR and stayed positive 24.5% of the time, ranging from -318.7% to +10.9%. Right now it pays shorts pay longs at -65.3% APR, settled every 4h across 5 venues we track. The most reliable delta-neutral pairing for RAY right now is long Kraken / short Lighter at +32.4% net APR (high risk, ~6d to break even).
RAY funding history on Variationallast 30d
- Backtested (30d)
- +52.2%
- Stability
- 88.8%
- Risk
- medium
- Breakeven
- ~0.6d
Ranked by 30-day reliability (backtest × stability × risk) — the spread that holds, not just the widest current rate.
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How RAY funding compares across venues
| Exchange | Funding APR |
|---|---|
| TxFlow | +10.36% |
| Lighter | +9.64% |
| Kraken | -44.34% |
| Phoenix | -54.66% |
| Variational | -65.35% |
Frequently asked
What is the current RAY funding rate on Variational?
RAY on Variational is funding at -65.35% APR (-0.0298% every 4h), paid shorts pay longs, as of 2026-10-28 08:44 UTC.
How often does Variational pay funding on RAY?
Every 4 hours.
How do I earn RAY funding without price risk?
Open a delta-neutral position: long Variational and short TxFlow, currently 67.2% net APR (medium risk). The two legs cancel price exposure so you keep the funding spread.