Funding you earn now, next payment 00:00 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+0.016%7-day average +0.020% · you sell dearer than you buy
Net, funding: paid 7d − costs−$13as in the Funding arb table
Net, price: spread back to 7d avg − costs−$10as in the Price arb table
costs, in and out, $10k−$100.100% of the position
Funding, last 7 days−0.026%−$3 on $10k
+Price spread, last 7 days−0.018%−$2 · spread now +0.016%, 7d avg +0.020%
=Together, before fees−0.044%+ Points / potential airdropLighter: Season 3 · farm board−$4 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 | 86,460 | 0.0100 | pay 0.0013% / 1h | 18m 55s | $11.1M | $13.9M | 50x |
| Short | Lighter BTC | 86,473.5 | 0.0096 | get 0.0012% / 1h | 18m 55s | $170.2M | $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: +0.016% → +0.020%
- −$0.47
- Slippage, 4 orders
- −$1.98
- Fee Polymarket Perps: 4 bp × 2 orders
- −$8
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$11.29
- Costs to cover
- 0.100%
- Break-even
- never at this rate
Slippage from Polymarket Perps: live order book, 5 min ago; Lighter: live order book, 5 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, 5 min ago | 0.06 bp | 5.1 bp −$5 | 5.9 bp −$59 | 8.4 bp −$841 | doesn't fit |
| Sell Lighter live order book, 5 min ago | 0.01 bp | 0.8 bp −$1 | 1.5 bp −$15 | 2.4 bp −$243 | 5.0 bp −$2,479 |
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 | |
|---|---|---|---|---|---|---|---|---|
| Phoenix BTC | −0.0118% | 1h | 86,367 | −0.108% | $2.2M | $11.8M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 86,405 | −0.064% | $9K | $3K | 50x | as long as short |
| Injective BTC/USDC PERP | −0.0035% | 1h | 86,345 | −0.133% | $332K | $26.9M | 52x | as long as short |
| RISEx BTC/USDC | −0.0024% | 1h | 86,463 | +0.004% | $8.3M | $42.7M | 25x | as long as short |
| 01 Exchange BTCUSD | −0.0016% | 1h | 86,456.8 | −0.004% | $359K | $2.5M | 50x | as long as short |
| Perpl BTC | 0.0000% | 43m | 86,446.2 | −0.016% | $411K | $22.7M | 6.7x | as long as short |
| Aster BTCUSDT | +0.0001% | 8h | 86,463.8 | +0.004% | $501.6M | $1.15B | 200x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0005% / S −0.0004% | 1h | 86,481.2 | +0.025% | $36.8M | — | 200x | as long as short |
| KuCoin XBTUSDTM | +0.0017% | 8h | 86,457.4 | −0.003% | $853.4M | $716.2M | 125x | as long as short |
| Reya BTCRUSDPERP | +0.0033% | 1h | 86,460.3 | 0.000% | $6.7M | $145.5M | 40x | as long as short |
Phoenix BTC
Hotstuff BTC-PERP
Injective BTC/USDC PERP
RISEx BTC/USDC
01 Exchange BTCUSD
Perpl BTC
Aster BTCUSDT
gTrade (Gains Network) BTC/USD
KuCoin XBTUSDTM
Reya BTCRUSDPERPShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX BTC-USDT | +0.0042% | 8h | 86,468 | +0.009% | — | $1.59B | — | as long as short |
| Bitget BTCUSDT | +0.0052% | 8h | 86,475.9 | +0.018% | $2.96B | $5.13B | 150x | as long as short |
| Phemex BTCUSDT | +0.0052% | 8h | 86,461.8 | +0.002% | $150.3M | $478.6M | 150x | as long as short |
| dYdX BTC-USD | +0.0060% | 1h | 86,411.1 | −0.057% | $16.9M | $21.2M | 50x | as long as short |
| MEXC BTC_USDT | +0.0069% | 8h | 86,473.4 | +0.015% | $5.16B | $5.68B | 500x | as long as short |
| Binance BTCUSDT | +0.0070% | 8h | 86,465.6 | +0.007% | $9.43B | $24.56B | 150x | as long as short |
| Aevo BTC-PERP | +0.0072% | 1h | 86,457.3 | −0.003% | $2.4M | $1.3M | 20x | as long as short |
| Gate BTC_USDT | +0.0081% | 8h | 86,463.8 | +0.004% | $5.86B | $10.79B | 200x | as long as short |
| Lighter BTCshort | +0.0096% | 1h | 86,473.5 | +0.016% | $170.2M | $1.02B | 50x | |
| Lighter RH BTC | +0.0096% | 1h | 86,481.1 | +0.024% | $23.9M | $152.5M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 86,455 | −0.006% | $8.5M | $52.4M | 100x | as long as short |
| Bybit BTCUSDT | +0.0097% | 8h | 86,469.8 | +0.011% | $5.26B | $9.80B | 150x | as long as short |
| SoDEX BTC-USD | +0.0099% | 1h | 86,465 | +0.006% | $60.5M | $338.2M | 40x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 86,430 | −0.035% | $199K | $7.1M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 86,457.6 | −0.003% | $4.8M | $8.5M | 50x | as long as short |
| Nado BTC-PERP | +0.0100% | 1h | 86,410.7 | −0.057% | $21.8M | $234.4M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 86,541 | +0.094% | $3.79B | $5.11B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 86,451.6 | −0.010% | $41.1M | $535.5M | 50x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 86,486 | +0.030% | $2.55B | $12.74B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 86,436 | −0.028% | $3.9M | $18.6M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 86,483.2 | +0.027% | $7.4M | $95.5M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 86,449 | −0.013% | $572.1M | $12.5M | 40x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 86,463.3 | +0.004% | $38.0M | $157.4M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 86,376.4 | −0.097% | $157.0M | $568.3M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 86,328.2 | −0.152% | $278.8M | $946.3M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 86,354.3 | −0.122% | $216.8M | $171.7M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 86,355.9 | −0.120% | $141.2M | $323.0M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 86,411 | −0.057% | $30.7M | $205.4M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 86,490.4 | +0.035% | — | $11.9M | 50x | as long as short |
| Polymarket Perps BTC-USDlong | +0.0100% | 1h | 86,460 | long leg | $11.1M | $13.9M | 50x | |
| Bullet BTC-USD | +0.0100% | 1h | 86,462 | +0.002% | $189K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 86,459 | −0.001% | $2.4M | $9.4M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 86,498.6 | +0.045% | $140K | $663K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 86,493.7 | +0.039% | $30.5M | $62.6M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 86,402.3 | −0.067% | $3.4M | $5.3M | 100x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 86,436.5 | −0.027% | $2.29B | $968.3M | 200x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 86,459.4 | −0.001% | $45.5M | $227.5M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 86,418.6 | −0.048% | — | $99.1M | 500x | as long as short |
| Deribit BTC-PERPETUAL | +0.0106% | 1h | 86,506.1 | +0.053% | $913.7M | $1.48B | 50x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0110% | 1h | 86,497.9 | +0.044% | $191.9M | $953.4M | 100x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0112% | 1h | 86,509.5 | +0.057% | $132.3M | $5.65B | 50x | as long as short |
| Aftermath Perps BTCUSD | +0.0154% | 1h | 86,441.8 | −0.021% | $78K | $219K | 20x | as long as short |
| Hibachi BTC/USDT-P | +0.0176% | 1h | 86,433.7 | −0.030% | $728K | $8.0M | 30x | as long as short |
| BloFin BTC-USDT | +0.0190% | 8h | 86,444.8 | −0.018% | $416.1M | $658.6M | 150x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0197% / S −0.0220% | 1h | 86,476.3 | +0.019% | $15.0M | — | 200x | as long as short |
| Kalshi KXBTCPERP | +0.0206% | 8h | 86,457 | −0.003% | $9.9M | $749.0M | 6.4x | as long as short |
BingX BTC-USDT
Bitget BTCUSDT
Phemex BTCUSDT
dYdX BTC-USD
MEXC BTC_USDT
Binance BTCUSDT
Aevo BTC-PERP
Gate BTC_USDT
Lighter RH BTC
Popdex BTCUSDT
Bybit BTCUSDT
SoDEX BTC-USD
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Nado BTC-PERP
Hyperliquid BTC
Pacifica BTC
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Bulk BTC-USD
Backpack BTC_USDC_PERP
Variational Omni BTC
edgeX BTCUSDC
GRVT BTC_USDT_Perp
ApeX Omni BTCUSDT
StandX BTC-USD
Vest BTC-PERP
Bullet BTC-USD
Orderly PERP_BTC_USDC
Bluefin BTC-PERP
Derive BTC-PERP
SunX BTC-USDT
HTX BTC-USDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Deribit BTC-PERPETUAL
Kraken Futures PF_XBTUSD
Coinbase International BTC-PERP-INTX
Aftermath Perps BTCUSD
Hibachi BTC/USDT-P
BloFin BTC-USDT
GMX BTC/USD [WBTC.b-USDC]
Kalshi KXBTCPERP