The visitors, meanwhile, will hope to avoid defeat for a third straight game after collecting four points from their previous two outings.
Match preview
Cadiz have experienced a mixed start to the new La Liga season, with their six matches evenly split between wins, draws and defeats.
After claiming their second win of the season against Villarreal earlier this month, Cadiz would have been disappointed to fall to a 3-0 defeat against Athletic Club on matchday five.
However, they offered an improved display in Sunday's tricky away game against Real Betis, taking the lead through Chris Ramos before Guido Rodriguez equalised on the hour mark to ensure the spoils with shared.
With Cadiz hoping to avoid a relegation battle in their fourth consecutive season in the top flight, they will be pleased to be sitting in ninth place with eight points to their name.
Having taken seven of those points from their opening three home games, Sergio Gonzalez's side will look to maintain their unbeaten home record.
After losing manager Andoni Iraola to Bournemouth in the summer, Rayo gave Francisco the tough task of trying to emulate last season's seventh-place finish.
The new Rayo boss got off to an impressive start, overseeing consecutive victories over Almeria and Granada, before they were stopped in their tracks by a demoralising 7-0 defeat to Atletico Madrid.
Although they were unable to find a response in a 1-0 loss to Real Betis, they rediscovered their winning touch on matchday five, recording a 2-0 home win over newly-promoted Alaves.
They followed that positive result with another encouraging performance against Villarreal on Saturday, playing out a 1-1 draw after Kike Perez cancelled out Gerard Moreno's opener.
Having picked up 10 points from six matches, Rayo will now head to the Estadio Nuevo Mirandilla, where they will attempt to claim a competitive away win over Cadiz for the first time since April 1973.
Cadiz La Liga form:
W
L
D
W
L
D
Rayo Vallecano La Liga form:
W
W
L
L
W
D
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Team News
Cadiz are still unable to call upon the services of midfielder Fede San Emeterio and winger Brian Ocampo due to knee injuries.
After starting the first five league games, Roger Marti had to settle for a role off the bench on Sunday, but the 32-year-old is in contention to return to the lineup for Wednesday's contest.
Darwin Machis could also be brought into the side, while there may also be a first start for Rominigue Kouame, who made his debut as a late substitute at the weekend.
As for the visitors, Randy Nteka and Radamel Falcao are unlikely to be involved after missing the last two matches through injury.
Sergio Camello dropped down to the bench for Sunday's draw, but the 22-year-old could return to lead the line on Wednesday.
After scoring his first goal for the club at the weekend, Perez will continue to operate in the space behind the striker, while Isi Palazon and Alvaro Garcia will feature out wide.
Cadiz possible starting lineup:
Ledesma; Carcelen, Mere, Fali, Hernandez; Alejo, Alcaraz, Kouame, Machis; Marti, Ramos
Rayo Vallecano possible starting lineup:
Dimitrievski; Balliu, Hernandez, Lejeune, Espino; Valentin, Lopez; Palazon, Perez, Garcia; Camello