Funding you earn now, next payment 06:00 UTC−0.0004%/8h= −0.4% APRnext payment −$0.01 per $10,000 · paid last 24h +0.008%
Price spread now: Lighter against Polymarket Perps+0.086%7-day average +0.055% · you sell dearer than you buy
Net, funding: paid 7d − costs−$71as in the Funding arb table
Net, price: spread back to 7d avg − costs−$81as in the Price arb table
costs, in and out, $10k−$840.844% of the position
Funding, last 7 days+0.138%+$14 on $10k
+Price spread, last 4 days (all we have)+0.181%+$18 · spread now +0.086%, 7d avg +0.055%
=Together, before fees+0.319%+ Points / potential airdropLighter: Season 3 · farm board+$32 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Lighter is 0.031% dearer against Polymarket Perps than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.055%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Polymarket Perps ETHFI-USD | 0.6893 | 0.0100 | pay 0.0013% / 1h | 27m 54s | $62K | $127K | 5x |
| Short | Lighter ETHFI | 0.6899 | 0.0096 | get 0.0012% / 1h | 27m 54s | $1.1M | $831K | 5x |
Polymarket Perps ETHFI-USD
Lighter ETHFIFunding 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: +0.086% → +0.055%
- $3.07
- Slippage, 4 orders
- −$76.37
- Fee Polymarket Perps: 4 bp × 2 orders
- −$8
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$82.14
- Costs to cover
- 0.844%
- Break-even
- never at this rate
Slippage from Polymarket Perps: live order book, 50 min ago; Lighter: 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 Polymarket Perps live order book, 50 min ago | 5.38 bp | 19.0 bp −$19 | 2320.1 bp −$23.2K | doesn't fit | doesn't fit |
| Sell Lighter live order book, 3 min ago | 10.70 bp | 44.4 bp −$44 | 118.4 bp −$1,184 | doesn't fit | doesn't fit |
ETHFI on 24 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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit ETHFI_USDC-PERPETUAL | −0.0475% | 1h | 0.6893 | −0.001% | $39K | $10K | 10x | as long as short |
| Kraken Futures PF_ETHFIUSD | −0.0414% | 1h | 0.6906 | +0.184% | $280K | $281K | 20x | as long as short |
| HTX ETHFI-USDT | −0.0386% | 4h | 0.6875 | −0.263% | $80K | $183K | 20x | as long as short |
| Bybit ETHFIUSDT | −0.0304% | 4h | 0.6892 | −0.016% | $17.1M | $12.9M | 25x | as long as short |
| Orderly PERP_ETHFI_USDC | −0.0264% | 4h | 0.6889 | −0.059% | $16K | $1K | 10x | as long as short |
| Variational Omni ETHFI | −0.0146% | 4h | 0.6900 | +0.106% | $901K | $762K | — | as long as short |
| Binance ETHFIUSDT | −0.0032% | 4h | 0.6893 | −0.008% | $23.9M | $35.7M | 75x | as long as short |
| Extended ETHFI-USD | −0.0032% | 1h | 0.6890 | −0.042% | $94K | $502K | 10x | as long as short |
| MEXC ETHFI_USDT | −0.0030% | 4h | 0.6890 | −0.045% | $15.6M | $4.1M | 125x | as long as short |
| Paradex ETHFI-USD-PERP | −0.0015% | 8h | 0.6893 | −0.002% | $6K | — | 5x | as long as short |
Deribit ETHFI_USDC-PERPETUAL
Kraken Futures PF_ETHFIUSD
HTX ETHFI-USDT
Bybit ETHFIUSDT
Orderly PERP_ETHFI_USDC
Variational Omni ETHFI
Binance ETHFIUSDT
Extended ETHFI-USD
MEXC ETHFI_USDT
Paradex ETHFI-USD-PERPShow all 24 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster ETHFIUSDT | +0.0022% | 4h | 0.6907 | +0.196% | $177K | $260K | 10x | as long as short |
| Injective ETHFI/USDC PERP | +0.0033% | 1h | 0.7240 | +5.033% | $321 | $51K | 5.5x | as long as short |
| Aevo ETHFI-PERP | +0.0072% | 1h | 0.6890 | −0.045% | $8K | — | 3x | as long as short |
| Lighter ETHFIshort | +0.0096% | 1h | 0.6899 | +0.086% | $1.1M | $831K | 5x | |
| Hyperliquid ETHFI | +0.0100% | 1h | 0.6895 | +0.033% | $16.7M | $8.4M | 5x | as long as short |
| OKX ETHFI-USDT-SWAP | +0.0100% | 4h | 0.6897 | +0.057% | $5.0M | $12.3M | 20x | as long as short |
| Gate ETHFI_USDT | +0.0100% | 4h | 0.6896 | +0.042% | $1.7M | $2.0M | 75x | as long as short |
| KuCoin ETHFIUSDTM | +0.0100% | 4h | 0.6898 | +0.071% | $1.2M | $230K | 50x | as long as short |
| Bitget ETHFIUSDT | +0.0100% | 4h | 0.6889 | −0.059% | $6.0M | $5.3M | 75x | as long as short |
| BingX ETHFI-USDT | +0.0100% | 4h | 0.6895 | +0.028% | — | $8.8M | — | as long as short |
| Polymarket Perps ETHFI-USDlong | +0.0100% | 1h | 0.6893 | long leg | $62K | $127K | 5x | |
| SunX ETHFI-USDT | +0.0100% | 4h | 0.6899 | +0.086% | $2K | $1.1M | 20x | as long as short |
| BloFin ETHFI-USDT | +0.0209% | 4h | 0.6900 | +0.100% | $1.2M | $236K | 75x | as long as short |
| Coinbase International ETHFI-PERP-INTX | +0.0376% | 1h | 0.6900 | +0.100% | $31K | $6K | 50x | as long as short |
Aster ETHFIUSDT
Injective ETHFI/USDC PERP
Aevo ETHFI-PERP
Hyperliquid ETHFI
OKX ETHFI-USDT-SWAP
Gate ETHFI_USDT
KuCoin ETHFIUSDTM
Bitget ETHFIUSDT
BingX ETHFI-USDT
SunX ETHFI-USDT
BloFin ETHFI-USDT
Coinbase International ETHFI-PERP-INTX