Funding you earn now, next payment 06:00 UTC−0.0004%/8h= −0.4% APRnext payment −$0.01 per $10,000 · paid last 24h −0.001%
Price spread now: Lighter against Polymarket Perps+0.029%45s7-day average +0.021% · you sell dearer than you buy
Net, funding: paid 7d − costs−$11as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$90.086% of the position
Funding, last 7 days−0.026%−$3 on $10k
+Price spread, last 7 days−0.020%−$2 · spread now +0.029%, 7d avg +0.021%
=Together, before fees−0.045%+ Points / potential airdropLighter: Season 3 · farm board−$5 on $10k · with fees, hour by hour
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Polymarket Perps BTC-USD | 85,250 | 0.0100 | pay 0.0013% / 1h | 37m 42s | $11.0M | $14.4M | 50x |
| Short | Lighter BTC | 85,274.5 | 0.0096 | get 0.0012% / 1h | 37m 42s | $171.3M | $1.02B | 50x |
Polymarket Perps BTC-USD
Lighter BTCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Polymarket Perps. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$0.84
- Price spread: +0.029% → +0.021%
- $0.8
- Slippage, 4 orders
- −$0.6
- Fee Polymarket Perps: 4 bp × 2 orders
- −$8
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$8.64
- Costs to cover
- 0.086%
- Break-even
- never at this rate
Slippage from Polymarket Perps: live order book, 1 min ago; Lighter: live order book, 7 min ago.
Cost to enter
taker fee + slippage from the mid, one side; closing costs about the same again| Leg | Half-spread | $10k | $100k | $1M | $5M |
|---|---|---|---|---|---|
| Buy Polymarket Perps live order book, 1 min ago | 0.06 bp | 4.1 bp −$4 | 5.6 bp −$56 | 7.6 bp −$762 | doesn't fit |
| Sell Lighter live order book, 7 min ago | 0.22 bp | 0.3 bp $0 | 0.4 bp −$4 | 1.3 bp −$131 | 3.8 bp −$1,895 |
BTC on 56 venues
lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Perpl BTC | −0.0112% | 43m | 85,242.9 | −0.008% | $527K | $18.7M | 6.7x | as long as short |
| Phoenix BTC | −0.0111% | 1h | 85,200 | −0.059% | $2.1M | $10.4M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,203 | −0.055% | $8K | $3K | 50x | as long as short |
| KuCoin XBTUSDTM | −0.0053% | 8h | 85,262.8 | +0.015% | $922.4M | $763.1M | 125x | as long as short |
| BloFin BTC-USDT | −0.0036% | 8h | 85,202.1 | −0.056% | $420.1M | $679.3M | 150x | as long as short |
| 01 Exchange BTCUSD | −0.0032% | 1h | 85,242.7 | −0.009% | $383K | $2.3M | 50x | as long as short |
| Aster BTCUSDT | −0.0015% | 8h | 85,256.8 | +0.008% | $512.6M | $1.10B | 200x | as long as short |
| dYdX BTC-USD | +0.0001% | 1h | 85,238.9 | −0.013% | $16.7M | $21.7M | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,244.4 | −0.007% | $36.4M | — | 200x | as long as short |
| Nado BTC-PERP | +0.0014% | 1h | 85,223.6 | −0.031% | $24.5M | $222.8M | 50x | as long as short |
Perpl BTC
Phoenix BTC
Hotstuff BTC-PERP
KuCoin XBTUSDTM
BloFin BTC-USDT
01 Exchange BTCUSD
Aster BTCUSDT
dYdX BTC-USD
gTrade (Gains Network) BTC/USD
Nado BTC-PERPShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Injective BTC/USDC PERP | +0.0023% | 1h | 85,225 | −0.029% | $338K | $26.8M | 52x | as long as short |
| SoDEX BTC-USD | +0.0051% | 1h | 85,240 | −0.012% | $59.7M | $335.9M | 40x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0056% | 1h | 85,264.5 | +0.017% | $187.1M | $957.0M | 100x | as long as short |
| Bullet BTC-USD | +0.0060% | 1h | 85,226 | −0.028% | $204K | $3.3M | 20x | as long as short |
| BingX BTC-USDT | +0.0066% | 8h | 85,252.2 | +0.003% | — | $1.56B | — | as long as short |
| Phemex BTCUSDT | +0.0073% | 8h | 85,238.9 | −0.013% | $149.1M | $503.2M | 150x | as long as short |
| Aevo BTC-PERP | +0.0080% | 1h | 85,233 | −0.020% | $2.4M | $6.7M | 20x | as long as short |
| Bitget BTCUSDT | +0.0083% | 8h | 85,256.8 | +0.008% | $2.95B | $5.17B | 150x | as long as short |
| MEXC BTC_USDT | +0.0084% | 8h | 85,270.1 | +0.024% | $5.06B | $5.69B | 500x | as long as short |
| Binance BTCUSDT | +0.0084% | 8h | 85,266.2 | +0.019% | $9.42B | $24.82B | 150x | as long as short |
| Lighter BTCshort | +0.0096% | 1h | 85,274.5 | +0.029% | $171.3M | $1.02B | 50x | |
| Lighter RH BTC | +0.0096% | 1h | 85,273 | +0.027% | $23.7M | $147.8M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,237 | −0.015% | $8.3M | $55.6M | 100x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0096% | 1h | 85,283.6 | +0.039% | $117.4M | $5.33B | 50x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,212 | −0.045% | $237K | $8.5M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,324.4 | +0.087% | $5.6M | $9.5M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,331 | +0.095% | $3.75B | $5.06B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,290.8 | +0.048% | $40.1M | $595.5M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,264.8 | +0.017% | $5.16B | $9.93B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,276.4 | +0.031% | $2.57B | $12.18B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,228 | −0.026% | $3.8M | $17.6M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,241.1 | −0.010% | $4.6M | $99.1M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,324.1 | +0.087% | $679.5M | $626.7M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,243.8 | −0.007% | $5.52B | $10.87B | 200x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,229.2 | −0.024% | $36.0M | $174.6M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,226.6 | −0.027% | $154.6M | $565.9M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,305.9 | +0.066% | $279.2M | $939.3M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,273.7 | +0.028% | $214.3M | $168.8M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,282.7 | +0.038% | $139.4M | $315.4M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,190 | −0.070% | $30.1M | $206.2M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,306.4 | +0.066% | — | $10.9M | 50x | as long as short |
| Polymarket Perps BTC-USDlong | +0.0100% | 1h | 85,250 | long leg | $11.0M | $14.4M | 50x | |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,230.3 | −0.023% | $2.4M | $9.1M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,275.6 | +0.030% | $217K | $750K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,219.2 | −0.036% | $30.0M | $50.4M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,231.4 | −0.022% | $2.9M | $6.1M | 100x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,222.9 | −0.032% | $2.26B | $954.0M | 200x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,211.9 | −0.045% | $45.5M | $237.9M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 85,254.4 | +0.005% | — | $107.0M | 500x | as long as short |
| Reya BTCRUSDPERP | +0.0112% | 1h | 85,249.2 | −0.001% | $6.6M | $147.4M | 40x | as long as short |
| Deribit BTC-PERPETUAL | +0.0145% | 1h | 85,286.9 | +0.043% | $872.4M | $1.61B | 50x | as long as short |
| Kalshi KXBTCPERP | +0.0174% | 8h | 85,273 | +0.027% | $11.3M | $748.9M | 6.4x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0176% / S −0.0151% | 1h | 85,241.7 | −0.010% | $13.0M | — | 200x | as long as short |
| Hibachi BTC/USDT-P | +0.0224% | 1h | 85,238.2 | −0.014% | $716K | $8.0M | 30x | as long as short |
| Aftermath Perps BTCUSD | +0.0226% | 1h | 85,305.4 | +0.065% | $78K | $225K | 20x | as long as short |
| RISEx BTC/USDC | +0.0257% | 1h | 85,267.6 | +0.021% | $8.7M | $43.1M | 25x | as long as short |
Injective BTC/USDC PERP
SoDEX BTC-USD
Kraken Futures PF_XBTUSD
Bullet BTC-USD
BingX BTC-USDT
Phemex BTCUSDT
Aevo BTC-PERP
Bitget BTCUSDT
MEXC BTC_USDT
Binance BTCUSDT
Lighter RH BTC
Popdex BTCUSDT
Coinbase International BTC-PERP-INTX
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Hyperliquid BTC
Pacifica BTC
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Bulk BTC-USD
Gate BTC_USDT
Backpack BTC_USDC_PERP
Variational Omni BTC
edgeX BTCUSDC
GRVT BTC_USDT_Perp
ApeX Omni BTCUSDT
StandX BTC-USD
Vest BTC-PERP
Orderly PERP_BTC_USDC
Bluefin BTC-PERP
Derive BTC-PERP
SunX BTC-USDT
HTX BTC-USDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Reya BTCRUSDPERP
Deribit BTC-PERPETUAL
Kalshi KXBTCPERP
GMX BTC/USD [WBTC.b-USDC]
Hibachi BTC/USDT-P
Aftermath Perps BTCUSD
RISEx BTC/USDC