Funding you earn now, next payment 12:00 UTC+0.0018%/8h= +2.0% APRnext payment +$0.02 per $10,000 · paid last 24h −0.005%
Price spread now: Polymarket Perps against Lighter−0.031%45s7-day average +0.018% · you buy dearer than you sell
Net, funding: paid 7d − costs−$10as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$150.151% of the position
Funding, last 7 days+0.054%+$5 on $10k
+Price spread, last 7 days−0.065%−$6 · spread now −0.031%, 7d avg +0.018%
=Together, before fees−0.010%+ Points / potential airdropLighter: Season 3 · farm board−$1 on $10k · with fees, hour by hour
Funding pays, the price is against you. Polymarket Perps is 0.049% cheaper against Lighter than usual: you would sell low and buy high (spread −0.031% now, against its 7-day average of +0.018%). If the spread goes back, that is −$5 on $10k: about 9.1 days of funding at the current rate (+$1 a day). The two prices were read 45 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter COIN | 198.81 | 0.0032 | pay 0.0004% / 1h | 55m 36s | $345K | $1.9M | 10x |
| Short | Polymarket Perps COIN-USD | 198.75 | 0.0050 | get 0.0006% / 1h | 55m 36s | $119K | $1.2M | 10x |
Lighter COIN
Polymarket Perps COIN-USDFunding 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $3.78
- Price spread: −0.031% → +0.018%
- −$4.92
- Slippage, 4 orders
- −$7.08
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Polymarket Perps: 4 bp × 2 orders
- −$8
- Net
- −$16.22
- Costs to cover
- 0.151%
- Break-even
- 37.0 days
Slippage from Lighter: live order book, 4 min ago; Polymarket Perps: live order book, 1 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, 4 min ago | 0.60 bp | 0.6 bp −$1 | 2.5 bp −$25 | doesn't fit | doesn't fit |
| Sell Polymarket Perps live order book, 1 min ago | 2.52 bp | 6.5 bp −$7 | 6.8 bp −$68 | doesn't fit | doesn't fit |
COIN on 26 exchanges
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 COIN/USDC PERP | −0.0440% | 1h | 197.59 | −0.615% | $17K | $222K | 30x | as long as short |
| Aster COINUSDT | 0.0000% | 8h | 198.77 | −0.019% | $346K | $868K | 20x | as long as short |
| Extended COIN_24_5-USD | 0.0000% | 1h | 198.85 | +0.019% | $105K | $876K | 10x | as long as short |
| Binance COINUSDT | 0.0000% | 8h | 198.94 | +0.064% | $14.7M | $74.8M | 20x | as long as short |
| Bybit COINUSDT | 0.0000% | 8h | 198.87 | +0.029% | $4.7M | $5.3M | 50x | as long as short |
| OKX COIN-USDT-SWAP | 0.0000% | 8h | 198.87 | +0.029% | $3.1M | $4.2M | 20x | as long as short |
| Gate COIN_USDT | 0.0000% | 8h | 198.92 | +0.054% | $1.2M | $6.1M | 50x | as long as short |
| Bitget COINUSDT | 0.0000% | 8h | 198.94 | +0.064% | $6.4M | $9.4M | 20x | as long as short |
| Variational Omni COIN | 0.0000% | 8h | 198.97 | +0.081% | $786K | $899K | — | as long as short |
| GRVT COIN_USDT_Perp | 0.0000% | 8h | 199.13 | +0.158% | $12K | $3.4M | 10x | as long as short |
Injective COIN/USDC PERP
Aster COINUSDT
Extended COIN_24_5-USD
Binance COINUSDT
Bybit COINUSDT
OKX COIN-USDT-SWAP
Gate COIN_USDT
Bitget COINUSDT
Variational Omni COIN
GRVT COIN_USDT_PerpShow all 26 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter COINlong | +0.0032% | 1h | 198.81 | long leg | $345K | $1.9M | 10x | |
| Lighter RH COIN | +0.0032% | 1h | 198.85 | +0.019% | $484K | $1.1M | 10x | as long as short |
| QFEX COIN-USD | +0.0033% | 1h | 198.82 | +0.004% | $1.3M | $2.5M | 10x | as long as short |
| Arcus COIN-USD | +0.0040% | 1h | 199.05 | +0.120% | $20K | $31K | 5x | as long as short |
| Vest COIN-USD-PERP | +0.0046% | 1h | 198.81 | −0.001% | — | $277K | 25x | as long as short |
| tradeXYZ xyz:COIN | +0.0050% | 1h | 198.75 | −0.031% | $14.7M | $11.1M | 10x | as long as short |
| Polymarket Perps COIN-USDshort | +0.0050% | 1h | 198.75 | −0.031% | $119K | $1.2M | 10x | |
| Ondo Perps COIN-USD.P | +0.0050% | 1h | 198.89 | +0.039% | $324K | $2.1M | 10x | as long as short |
| edgeX COINUSDC | +0.0079% | 4h | 198.89 | +0.038% | $51K | $292K | 10x | as long as short |
| Phoenix COIN | +0.0081% | 1h | 198.77 | −0.021% | $5K | $268K | 10x | as long as short |
| SoDEX COIN-USD | +0.0082% | 1h | 198.93 | +0.059% | $88 | $3K | 10x | as long as short |
| KuCoin COINUSDTM | +0.0100% | 8h | 198.79 | −0.011% | $938K | $257K | 20x | as long as short |
| ApeX Omni COINUSDT | +0.0100% | 1h | 198.73 | −0.041% | $89K | $272K | 50x | as long as short |
| Orderly PERP_COIN_USDC_mythos | +0.0100% | 8h | 198.81 | −0.001% | $575 | $4K | 10x | as long as short |
| Aevo COIN-PERP | +0.0104% | 1h | 198.93 | +0.057% | $117 | — | 10x | as long as short |
| BloFin COIN-USDT | +0.0120% | 8h | 199.09 | +0.140% | $195K | $482K | 20x | as long as short |
Lighter RH COIN
QFEX COIN-USD
Arcus COIN-USD
Vest COIN-USD-PERP
tradeXYZ xyz:COIN
Ondo Perps COIN-USD.P
edgeX COINUSDC
Phoenix COIN
SoDEX COIN-USD
KuCoin COINUSDTM
ApeX Omni COINUSDT
Orderly PERP_COIN_USDC_mythos
Aevo COIN-PERP
BloFin COIN-USDT