ETH

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 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−0.020%7-day average −0.002% · you buy dearer than you sell

Net, funding: paid 7d − costs−$20as in the Funding arb table

Net, price: spread back to 7d avg − costs−$13as in the Price arb table

costs, in and out, $10k−$110.111% of the position

Long on Polymarket Perps Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.085%−$8 on $10k

Price spread, last 7 days+0.002%$0 · spread now −0.020%, 7d avg −0.002%

Together, before fees−0.082%+ Points / potential airdropLighter: Season 3 · farm board−$8 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps ETH-USD	2,782.2	0.0100	pay 0.0013% / 1h	40m 02s	$10.8M	$7.6M	50x
Short	Lighter ETH	2,781.6	0.0096	get 0.0012% / 1h	40m 02s	$115.3M	$497.6M	50x

Funding 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 it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee Polymarket PerpsbpFee LighterbpOrdersPrice spread, now −0.020%Rate

Funding earned: −$0.84
Price spread: −0.020% → −0.002%: −$1.83
Slippage, 4 orders: −$3.15
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: −$13.82
Costs to cover: 0.111%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 4 min ago; Lighter: live order book, 4 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, 4 min ago	0.18 bp	4.5 bp −$5	5.0 bp −$50	9.8 bp −$979	doesn't fit
Sell Lighter live order book, 4 min ago	0.13 bp	0.6 bp −$1	1.4 bp −$14	1.9 bp −$194	4.7 bp −$2,330

ETH on 55 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 ETH	−0.0447%	43m	2,780.3	−0.068%	$289K	$6.9M	8.3x	as long as short
RISEx ETH/USDC	−0.0085%	1h	2,780.5	−0.060%	$5.8M	$12.0M	25x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,780.7	−0.054%	$5K	$2K	50x	as long as short
Injective ETH/USDC PERP	−0.0041%	1h	2,775.7	−0.234%	$119K	$22.5M	52x	as long as short
01 Exchange ETHUSD	−0.0032%	1h	2,780.8	−0.050%	$170K	$1.2M	50x	as long as short
Aftermath Perps ETHUSD	−0.0027%	1h	2,778	−0.150%	$29K	$22K	20x	as long as short
dYdX ETH-USD	0.0000%	1h	2,780.4	−0.066%	$12.7M	$45.5M	50x	as long as short
Phoenix ETH	0.0000%	1h	2,774.2	−0.288%	$885K	$3.7M	25x	as long as short
Phemex ETHUSDT	+0.0004%	8h	2,780.4	−0.066%	$270.4M	$68.5M	150x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,781.8	−0.013%	$22.5M	—	200x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX ETH-USDT	+0.0015%	8h	2,780.7	−0.056%	—	$1.18B	—	as long as short
OKX ETH-USDT-SWAP	+0.0019%	8h	2,779.2	−0.109%	$1.71B	$11.84B	100x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0028% / S +0.0009%	1h	2,781.7	−0.019%	$13.2M	—	200x	as long as short
Aster ETHUSDT	+0.0038%	8h	2,781.7	−0.019%	$257.1M	$989.8M	200x	as long as short
Bullet ETH-USD	+0.0040%	1h	2,781	−0.042%	$182K	$1.8M	20x	as long as short
Nado ETH-PERP	+0.0050%	1h	2,780.7	−0.055%	$14.3M	$117.8M	50x	as long as short
Aevo ETH-PERP	+0.0056%	1h	2,774.9	−0.261%	$5.0M	$636K	20x	as long as short
MEXC ETH_USDT	+0.0058%	8h	2,779.5	−0.098%	$1.62B	$2.65B	500x	as long as short
Binance ETHUSDT	+0.0062%	8h	2,780.1	−0.077%	$6.45B	$17.10B	150x	as long as short
Bitget ETHUSDT	+0.0072%	8h	2,779.2	−0.110%	$2.10B	$3.10B	150x	as long as short
Gate ETH_USDT	+0.0077%	8h	2,780.7	−0.053%	$3.30B	$9.57B	200x	as long as short
Lighter ETHshort	+0.0096%	1h	2,781.6	−0.020%	$115.3M	$497.6M	50x
Lighter RH ETH	+0.0096%	1h	2,782.6	+0.014%	$25.5M	$120.9M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,780.6	−0.058%	—	$41.5M	500x	as long as short
Bybit ETHUSDT	+0.0096%	8h	2,778.8	−0.124%	$2.52B	$4.59B	150x	as long as short
HTX ETH-USDT	+0.0096%	8h	2,781.1	−0.040%	$1.08B	$1.31B	200x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,781.2	−0.036%	$16.0M	$10.5M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,780.8	−0.050%	$483K	$2.7M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,783	+0.029%	$3.20B	$2.39B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,780.7	−0.054%	$31.3M	$295.5M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,780	−0.079%	$2.8M	$16.8M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,782.1	−0.003%	$2.8M	$17.4M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,781.3	−0.032%	$166.9M	$248.1M	25x	as long as short
KuCoin ETHUSDTM	+0.0100%	8h	2,781.2	−0.038%	$426.8M	$737.4M	100x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,781.5	−0.027%	$15.3M	$44.0M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,781.7	−0.018%	$135.5M	$322.3M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,776.9	−0.191%	$180.0M	$778.3M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,776.5	−0.204%	$161.5M	$93.1M	50x	as long as short
ApeX Omni ETHUSDT	+0.0100%	1h	2,776.6	−0.203%	$8.7M	$32.6M	100x	as long as short
StandX ETH-USD	+0.0100%	1h	2,780.3	−0.068%	$21.5M	$57.9M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,781.2	−0.037%	—	$1.1M	50x	as long as short
Polymarket Perps ETH-USDlong	+0.0100%	1h	2,782.2	long leg	$10.8M	$7.6M	50x
Bluefin ETH-PERP	+0.0100%	1h	2,781.3	−0.031%	$21K	$25K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,783.1	+0.032%	$42.8M	$29.4M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,779.6	−0.095%	$975K	$14.0M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,780.8	−0.050%	$55.4M	$228.8M	40x	as long as short
Extended ETH-USD	+0.0104%	1h	2,778.7	−0.126%	$31.6M	$74.6M	50x	as long as short
Coinbase International ETH-PERP-INTX	+0.0104%	1h	2,782.1	−0.004%	$60.3M	$4.60B	50x	as long as short
Hibachi ETH/USDT-P	+0.0112%	1h	2,782	−0.006%	$279K	$1.5M	20x	as long as short
Kalshi KXETHPERP	+0.0114%	8h	2,781.5	−0.025%	$8.6M	$672.9M	4.9x	as long as short
Deribit ETH-PERPETUAL	+0.0120%	1h	2,782.4	+0.005%	$258.4M	$221.6M	50x	as long as short
Orderly PERP_ETH_USDC	+0.0139%	8h	2,783.5	+0.048%	$32.7M	$12.0M	100x	as long as short
Kraken Futures PF_ETHUSD	+0.0169%	1h	2,781.8	−0.013%	$86.3M	$330.4M	100x	as long as short
BloFin ETH-USDT	+0.0178%	8h	2,779.6	−0.092%	$285.4M	$194.7M	150x	as long as short
Reya ETHRUSDPERP	+0.0189%	1h	2,780.7	−0.054%	$7.4M	$1.1M	25x	as long as short