XPL

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0076%/8h= +8.3% APRnext payment +$0.10 per $10,000 · paid last 24h +0.145%

Price spread now: Polymarket Perps against Lighter+0.302%7-day average +0.130% · you sell dearer than you buy

Net, funding: paid 7d − costs+$8as in the Funding arb table

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$400.398% of the position

Long on Lighter Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.479%+$48 on $10k

Price spread, last 7 days−0.292%−$29 · spread now +0.302%, 7d avg +0.130%

Together, before fees+0.187%+ Points / potential airdropLighter: Season 3 · farm board+$19 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Polymarket Perps is 0.172% dearer against Lighter than usual: you sell high and buy low: +$17 more if the spread goes back to its 7-day average of +0.130%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter XPL	0.09581	0.0024	pay 0.0003% / 1h	41m 19s	$4.3M	$4.2M	10x
Short	Polymarket Perps XPL-USD	0.09610	0.0100	get 0.0013% / 1h	41m 19s	$128K	$2.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Lighter. 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 LighterbpFee Polymarket PerpsbpOrdersPrice spread, now +0.302%Rate

Funding earned: $15.96
Price spread: +0.302% → +0.130%: $17.19
Slippage, 4 orders: −$31.8
Fee Lighter: 0 bp × 2 orders: $0
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$6.65
Costs to cover: 0.398%
Break-even: 9.9 days

Slippage from Lighter: live order book, 6 min ago; Polymarket Perps: live order book, 3 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, 6 min ago	4.72 bp	16.4 bp −$16	42.3 bp −$423	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 3 min ago	1.51 bp	9.1 bp −$9	10.3 bp −$103	doesn't fit	doesn't fit

XPL on 36 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
Backpack XPL_USDC_PERP	−0.0603%	1h	0.09621	+0.417%	$180K	$242K	10x	as long as short
01 Exchange XPLUSD	−0.0432%	1h	0.09586	+0.052%	$557	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0247% / S +0.0576%	1h	0.09602	+0.222%	$106K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0062%	1h	0.09622	+0.428%	$46K	$18K	25x	as long as short
Orderly PERP_XPL_USDC	−0.0005%	4h	0.09592	+0.115%	$29K	$335K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09596	+0.159%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−20.982%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09602	+0.224%	$72K	—	150x	as long as short
Lighter XPLlong	+0.0024%	1h	0.09581	long leg	$4.3M	$4.2M	10x
OKX XPL-USDT-SWAP	+0.0034%	4h	0.09592	+0.115%	$8.3M	$53.1M	50x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex XPL-USD-PERP	+0.0052%	8h	0.09590	+0.097%	$12K	$2K	5x	as long as short
Gate XPL_USDT	+0.0098%	4h	0.09598	+0.177%	$2.9M	$3.7M	75x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09599	+0.190%	$1.2M	$2.8M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09613	+0.333%	$60.4M	$48.2M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09600	+0.196%	$244K	$500K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09596	+0.162%	$219K	$47K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09598	+0.177%	$43.4M	$108.7M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09592	+0.115%	$45.5M	$56.8M	75x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09540	−0.428%	$139K	$7K	10x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09602	+0.219%	$12.4M	$7.9M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09603	+0.230%	$2.3M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09597	+0.167%	$8.5M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09595	+0.146%	—	$8.0M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09526	−0.576%	$1.7M	$1.8M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09616	+0.363%	$260K	$901K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09620	+0.407%	$25K	$83K	50x	as long as short
Polymarket Perps XPL-USDshort	+0.0100%	1h	0.09610	+0.302%	$128K	$2.6M	10x
SunX XPL-USDT	+0.0100%	4h	0.09600	+0.198%	$2K	$1.9M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09620	+0.407%	$2K	$11K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09605	+0.250%	$144K	$264K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09592	+0.115%	$632K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09590	+0.094%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09573	−0.083%	$194K	$629K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09590	+0.094%	$1.7M	$1.0M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0672%	1h	0.09640	+0.616%	$74K	$93K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3559%	1h	0.09659	+0.810%	$548K	$1.0M	10x	as long as short