POL

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0186%/8h= −20.4% APRnext payment −$0.23 per $10,000 · paid last 24h −0.036%

Price spread now: Lighter against Hyperliquid−0.146%7-day average −0.053% · you buy dearer than you sell

Net, funding: paid 7d − costs−$56as in the Funding arb table

Net, price: spread back to 7d avg − costs−$61as in the Price arb table

costs, in and out, $10k−$510.514% of the position

Long on Hyperliquid Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.046%−$5 on $10k

Price spread, last 4 days (all we have)+0.146%+$15 · spread now −0.146%, 7d avg −0.053%

Together, before fees+0.100%+ Points / potential airdropHyperliquid: Season 2 · Lighter: Season 3 · farm board+$10 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Lighter is 0.093% cheaper against Hyperliquid than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of −0.053%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.046% in total (about -2.4% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.23 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid POL	0.1103	0.0282	pay 0.0035% / 1h	56m 01s	$7.5M	$3.7M	5x
Short	Lighter POL	0.1102	0.0096	get 0.0012% / 1h	56m 01s	$284K	$550K	8x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Hyperliquid. 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 HyperliquidbpFee LighterbpOrdersPrice spread, now −0.146%Rate

Funding earned: −$39.06
Price spread: −0.146% → −0.053%: −$9.3
Slippage, 4 orders: −$42.39
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Lighter: 0 bp × 2 orders: $0
Net: −$99.75
Costs to cover: 0.514%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 6 min ago; Lighter: live order book, 59 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 Hyperliquid live order book, 6 min ago	1.36 bp	14.8 bp −$15	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 59 min ago	7.85 bp	13.4 bp −$13	63.8 bp −$638	doesn't fit	doesn't fit

POL on 25 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
Coinbase International POL-PERP-INTX	−0.0520%	1h	0.1096	−0.662%	$202K	$197K	50x	as long as short
Reya POLRUSDPERP	−0.0006%	1h	0.1101	−0.195%	$3K	—	—	as long as short
dYdX POL-USD	0.0000%	1h	0.1100	−0.280%	$17K	$1K	5x	as long as short
gTrade (Gains Network) POL/USD	L +0.0004% / S −0.0007%	1h	0.1102	−0.134%	$24K	—	150x	as long as short
Injective POL/USDC PERP	+0.0033%	1h	0.1111	+0.698%	$3K	$124K	12x	as long as short
Orderly PERP_POL_USDC	+0.0039%	4h	0.1101	−0.181%	$11K	$267K	20x	as long as short
Lighter POLshort	+0.0096%	1h	0.1102	−0.146%	$284K	$550K	8x
Aster POLUSDT	+0.0100%	4h	0.1101	−0.209%	$366K	$268K	20x	as long as short
Binance POLUSDT	+0.0100%	4h	0.1102	−0.132%	$17.1M	$42.1M	75x	as long as short
Bybit POLUSDT	+0.0100%	4h	0.1101	−0.218%	$15.9M	$11.7M	75x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX POL-USDT-SWAP	+0.0100%	4h	0.1102	−0.154%	$5.7M	$10.0M	50x	as long as short
Gate POL_USDT	+0.0100%	4h	0.1100	−0.299%	$1.8M	$1.3M	75x	as long as short
MEXC POL_USDT	+0.0100%	4h	0.1101	−0.190%	$24.4M	$3.6M	125x	as long as short
KuCoin POLUSDTM	+0.0100%	4h	0.1101	−0.163%	$2.9M	$973K	50x	as long as short
Bitget POLUSDT	+0.0100%	4h	0.1102	−0.154%	$4.1M	$4.6M	50x	as long as short
BingX POL-USDT	+0.0100%	4h	0.1101	−0.190%	—	$7.2M	—	as long as short
Variational Omni POL	+0.0100%	4h	0.1101	−0.243%	$609K	$209K	—	as long as short
GRVT POL_USDT_Perp	+0.0100%	4h	0.1099	−0.354%	$1.1M	$2.7M	10x	as long as short
ApeX Omni POLUSDT	+0.0100%	1h	0.1097	−0.571%	$194K	$633K	50x	as long as short
Extended POL-USD	+0.0104%	1h	0.1102	−0.155%	$95K	$453K	10x	as long as short
Aevo POL-PERP	+0.0104%	1h	0.1099	−0.429%	$40K	—	3x	as long as short
GMX POL/USD [ETH-USDC]	L +0.0210% / S −0.0388%	1h	0.1102	−0.119%	$3K	—	100x	as long as short
Hyperliquid POLlong	+0.0282%	1h	0.1103	long leg	$7.5M	$3.7M	5x
Kraken Futures PF_POLUSD	+0.0313%	1h	0.1102	−0.105%	$1.2M	$1.2M	50x	as long as short
BloFin POL-USDT	+0.0340%	4h	0.1099	−0.435%	$915K	$167K	75x	as long as short