We show that if $m,n\ge 0,\lambda >1$, and $R$ is a rational function with numerator, denominator of degree $\le m,n$, respectively, then there exists a set $S\subset [0,1]$ of linear measure $\ge \,\frac{1}{4}\,\exp \left( -\frac{13}{\log \,\text{ }\!\!\lambda\!\!\text{ }} \right)$ such that for $r\in S$,
1$$_{|z|=r\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,|z|=r}^{\max |R(z)|/min|R(z)|\le {{\lambda }^{m+n}}.}$$
Here, one may not replace $\frac{1}{4}\exp (-\frac{13}{\log \lambda })$ by $\exp (-\frac{2-\varepsilon }{\log \lambda })$, for any $\varepsilon >0$. As our motivating application, we prove a convergence result for diagonal Padé approximants for functions meromorphic in the unit ball.