The visitors opened their season with a 2-0 victory over Almeria on August 11, while Granada suffered a 3-1 defeat to Atletico Madrid in their first game of the new campaign.
Match preview
Granada were relegated from La Liga at the end of the 2021-22 campaign, but they secured a return to the top level at the first time of asking, winning the 2023-23 Segunda Division.
Paco Lopez's side travelled to Atletico in their first match of the new season, suffering a 3-1 defeat, but how they perform this term is not going to depend on their results against the likes of Diego Simeone's team.
The home side have made six signings during this summer's transfer window, including Shon Weissman and Famara Diedhiou, who joined on permanent deals following loan spells.
Granada have also managed to keep the bulk of their key players from last season, and they look well-equipped to compete in La Liga during the 2023-24 campaign.
Grana have not actually beaten Rayo in Spain's top flight since December 2013, but the points were shared in a 2-2 draw in the corresponding match during the 2021-22 season.
Rayo, meanwhile, opened their season with a 2-0 victory over Almeria on August 11, with Isi Palazon making the breakthrough from the penalty spot before Randy Nteka netted a penalty of his own eight minutes later.
Francisco's side have made seven signings during this summer's transfer window, with Jorge de Frutos proving to be their biggest acquisition in terms of a transfer fee, with the forward arriving from Levante.
Rayo finished 11th in Spain's top flight last season, picking up 49 points from their 38 matches, and they were only four points behind seventh-placed Osasuna.
The capital side lost their manager Andoni Iraola to Bournemouth over the summer, but Francisco, who had previously been in charge of Elche, made the perfect start against Almeria last time out.
Rayo are in their third straight season back in La Liga, finishing 12th and 11th in their last two, and they will be aiming to push towards the top half during the current campaign.
Granada La Liga form:
L
Rayo Vallecano La Liga form:
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Team News
Granada will be without the services of Raul Torrente on Monday, with the defender unavailable for selection due to a muscular problem.
The home side are otherwise in good shape, with Weissman, who was missing against Atletico last time out, expected to return to the squad following a minor issue.
Head coach Lopez will resist the temptation to shuffle his pack following the loss last time out, with a back five again set to take to the field, while Samu is likely to retain his spot alongside Myrto Uzuni in attack.
Rayo, meanwhile, have brought in three new players since their first game of the season, with Kike Perez, De Frutos and Sergio Camello all making the move to the club.
However, it would not be a surprise to see head coach Francisco keep faith with the side that started the two-goal victory over Almeria in their season opener.
As a result, Nteka should continue in the final third of the field, with Oscar Trejo playing in the number 10 role, while Palazon and Alvaro Garcia are set to feature in the wide positions.
Granada possible starting lineup:
Ferreira; Rubio, Miquel, Vallejo; Callejon, Gumbau, Ruiz, Melendo, Neva; Samu, Uzuni
Rayo Vallecano possible starting lineup:
Dimitrievski; Balliu, Lejeune, Hernandez, Espino; Lopez, Valentin; Palazon, Trejo, A Garcia; Nteka
We say: Granada 1-1 Rayo Vallecano
Two of the last three La Liga meetings between these two teams have finished all square, and we are backing another draw here. Rayo were excellent in their campaign opener, but Granada will have home advantage, and we are expecting the points to be shared in this encounter.