To (cause to) unravel; used particularly for the edge of something made of cloth, or the end of a rope.
The ribbon frayed at the cut end.
To cause exhaustion, wear out (a person's mental strength).
The hectic day ended in frayed nerves. (Metaphorical use; nerves are visualised as strings)
Frighten; alarm
To bear the expense of; to defray.
To rub.
A fight or argument
Though they did not know the reason for the dispute, they did not hesitate to leap into the fray.
Fright.