Peavy's WHIP was 1.1 last year and 1.16 this year; that's number 2 starter territory. Teams, at least theoretically, should pay a premium in desperate times, which, if they if they are if in a pennant race and need a good starter. Plus, the supply of available starting pitchers is extremely thin.
The Rangers #2 starter, Derrick Holland has never had a WHIP below 1.2
And, again, if nothing materializes, keep him for next year.
As DickAllen points, money shouldn't be anywhere close to a major concern.
He's our best trading chit, presuming he gets healthy. He's better than most of the GOOD pitchers on contenders. So is Crain, but not as valuable as he's a reliever. Others, like Rios, aren't going to be better than the good hitters on contenders...they will be better than a hole the contender might have, but they won't pay that much just to plug a hole.