Funding you earn now, next payment 23:00 UTC+0.0106%/8h= +11.6% APRnext payment +$0.13 per $10,000 · paid last 24h +0.032%
Price spread now: Hyperliquid against Lighter+0.197%7-day average +0.045% · you sell dearer than you buy
Net, funding: paid 7d − costs−$42as in the Funding arb table
Net, price: spread back to 7d avg − costs−$30as in the Price arb table
costs, in and out, $10k−$460.457% of the position
Funding, last 7 days+0.039%+$4 on $10k
+Price spread, last 4 days (all we have)−0.145%−$15 · spread now +0.197%, 7d avg +0.045%
=Together, before fees−0.106%+ Points / potential airdropLighter: Season 3 · Hyperliquid: Season 2 · farm board−$11 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Hyperliquid is 0.152% dearer against Lighter than usual: you sell high and buy low: +$15 more if the spread goes back to its 7-day average of +0.045%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter POL | 0.1121 | 0.0096 | pay 0.0012% / 1h | 56m 15s | $311K | $558K | 8x |
| Short | Hyperliquid POL | 0.1123 | 0.0202 | get 0.0025% / 1h | 56m 15s | $7.6M | $4.6M | 5x |
Lighter POL
Hyperliquid POLFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid against Lighter. 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
- $22.3
- Price spread: +0.197% → +0.045%
- $15.25
- Slippage, 4 orders
- −$36.66
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$8.11
- Costs to cover
- 0.457%
- Break-even
- 9.5 days
Slippage from Lighter: live order book, 19 min ago; Hyperliquid: live order book, 6 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 Lighter live order book, 19 min ago | 6.24 bp | 8.5 bp −$9 | 54.3 bp −$543 | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 6 min ago | 1.34 bp | 12.0 bp −$12 | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective POL/USDC PERP | −0.0162% | 1h | 0.1111 | −0.882% | $3K | $124K | 12x | as long as short |
| Coinbase International POL-PERP-INTX | −0.0128% | 1h | 0.1111 | −0.882% | $202K | $253K | 50x | as long as short |
| Kraken Futures PF_POLUSD | −0.0071% | 1h | 0.1122 | +0.074% | $1.2M | $1.8M | 50x | as long as short |
| Orderly PERP_POL_USDC | −0.0025% | 4h | 0.1121 | −0.026% | $11K | $204K | 20x | as long as short |
| Reya POLRUSDPERP | −0.0006% | 1h | 0.1120 | −0.042% | $3K | — | — | as long as short |
| dYdX POL-USD | 0.0000% | 1h | 0.1121 | −0.008% | $17K | $3K | 5x | as long as short |
| gTrade (Gains Network) POL/USD | L +0.0004% / S −0.0006% | 1h | 0.1121 | +0.027% | $22K | — | 150x | as long as short |
| Lighter POLlong | +0.0096% | 1h | 0.1121 | long leg | $311K | $558K | 8x | |
| Aster POLUSDT | +0.0100% | 4h | 0.1120 | −0.044% | $372K | $359K | 20x | as long as short |
| Binance POLUSDT | +0.0100% | 4h | 0.1121 | +0.004% | $17.1M | $51.5M | 75x | as long as short |
Injective POL/USDC PERP
Coinbase International POL-PERP-INTX
Kraken Futures PF_POLUSD
Orderly PERP_POL_USDC
Reya POLRUSDPERP
dYdX POL-USD
gTrade (Gains Network) POL/USD
Aster POLUSDT
Binance POLUSDTShow all 25 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit POLUSDT | +0.0100% | 4h | 0.1120 | −0.062% | $16.1M | $16.2M | 75x | as long as short |
| OKX POL-USDT-SWAP | +0.0100% | 4h | 0.1120 | −0.053% | $5.8M | $12.1M | 50x | as long as short |
| Gate POL_USDT | +0.0100% | 4h | 0.1120 | −0.079% | $1.9M | $1.3M | 75x | as long as short |
| MEXC POL_USDT | +0.0100% | 4h | 0.1121 | −0.017% | $23.7M | $3.8M | 125x | as long as short |
| KuCoin POLUSDTM | +0.0100% | 4h | 0.1120 | −0.035% | $2.8M | $1.1M | 50x | as long as short |
| Bitget POLUSDT | +0.0100% | 4h | 0.1121 | −0.017% | $4.2M | $5.9M | 50x | as long as short |
| BingX POL-USDC | +0.0100% | 4h | 0.1120 | −0.062% | — | $1.6M | — | as long as short |
| Variational Omni POL | +0.0100% | 4h | 0.1116 | −0.405% | $660K | $211K | — | as long as short |
| GRVT POL_USDT_Perp | +0.0100% | 4h | 0.1117 | −0.338% | $1.1M | $3.4M | 10x | as long as short |
| ApeX Omni POLUSDT | +0.0100% | 1h | 0.1118 | −0.258% | $198K | $662K | 50x | as long as short |
| Extended POL-USD | +0.0104% | 1h | 0.1121 | −0.031% | $93K | $427K | 10x | as long as short |
| Aevo POL-PERP | +0.0104% | 1h | 0.1119 | −0.162% | $41K | — | 3x | as long as short |
| Hyperliquid POLshort | +0.0202% | 1h | 0.1123 | +0.197% | $7.6M | $4.6M | 5x | |
| GMX POL/USD [ETH-USDC] | L +0.0211% / S −0.0606% | 1h | 0.1121 | +0.035% | $3K | — | 100x | as long as short |
| BloFin POL-USDT | +0.0340% | 4h | 0.1118 | −0.267% | $906K | $168K | 75x | as long as short |
Bybit POLUSDT
OKX POL-USDT-SWAP
Gate POL_USDT
MEXC POL_USDT
KuCoin POLUSDTM
Bitget POLUSDT
BingX POL-USDC
Variational Omni POL
GRVT POL_USDT_Perp
ApeX Omni POLUSDT
Extended POL-USD
Aevo POL-PERP
GMX POL/USD [ETH-USDC]
BloFin POL-USDT