Rapid and long-range distance measurements are essential in various industrial and scientific applications, and among them, the dual-comb ranging system attracts great attention due to its high precision. However, the temporal asynchronous sampling results in the tradeoff between frame rate and ranging precision, and the non-ambiguity range (NAR) is also limited by the comb cycle, which hinders the further advancement of the dual-comb ranging system. Given this constraint, we introduce a Vernier spectral interferometry to improve the frame rate and NAR of the ranging system. First, leveraging the dispersive time-stretch technology, the dual-comb interferometry becomes spectral interferometry. Thus, the asynchronous time step is unlimited, and the frame rate is improved to 100 kHz. Second, dual-wavelength bands are introduced to implement a Vernier spectral interferometry, whose NAR is enlarged from 1.5 m to 1.5 km. Moreover, this fast and long-range system also demonstrated high precision, with a 22.91-nm Allan deviation over 10-ms averaging time. As a result, the proposed Vernier spectral interferometry ranging system is promising for diverse applications that necessitate rapid and extensive distance measurement.