Funding you earn now, next payment 00:00 UTC+0.0018%/8h= +2.0% APRnext payment +$0.02 per $10,000 · paid last 24h 0.000%
Price spread now: Polymarket Perps against Lighter−0.005%7-day average +0.018% · you buy dearer than you sell
Net, funding: paid 7d − costs+$22as in the Funding arb table
Net, price: spread back to 7d avg − costs−$13as in the Price arb table
costs, in and out, $10k−$100.104% of the position
Funding, last 7 days+0.327%+$33 on $10k
+Price spread, last 7 days+0.074%+$7 · spread now −0.005%, 7d avg +0.018%
=Together, before fees+0.401%+ Points / potential airdropLighter: Season 3 · farm board+$40 on $10k · with fees, hour by hour
Funding pays, the price is against you. Polymarket Perps is 0.023% cheaper against Lighter than usual: you would sell low and buy high (spread −0.005% now, against its 7-day average of +0.018%). If the spread goes back, that is −$2 on $10k: about 4.2 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.327% in total) that is about 12 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter US500 | 7,766 | 0.0032 | pay 0.0004% / 1h | 12m 21s | $2.1M | $28.7M | 50x |
| Short | Polymarket Perps SP500-USD | 7,765.6 | 0.0050 | get 0.0006% / 1h | 12m 21s | $9.0M | $2.3M | 50x |
Lighter US500
Polymarket Perps SP500-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: −0.005% → +0.018%
- −$2.28
- Slippage, 4 orders
- −$2.43
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Polymarket Perps: 4 bp × 2 orders
- −$8
- Net
- −$8.93
- Costs to cover
- 0.104%
- Break-even
- 23.5 days
Slippage from Lighter: live order book, 6 min ago; Polymarket Perps: live order book, 7 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 | 0.39 bp | 0.4 bp $0 | 0.6 bp −$6 | 3.9 bp −$393 | 123.4 bp −$61.7K |
| Sell Polymarket Perps live order book, 7 min ago | 0.06 bp | 4.3 bp −$4 | 4.7 bp −$47 | 5.3 bp −$534 | 11.2 bp −$5,598 |
SP500 on 18 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 US500/USDC PERP | −0.0220% | 1h | 7,667.5 | −1.268% | $7K | $106 | 52x | as long as short |
| QFEX US500-USD | −0.0038% | 1h | 7,768.2 | +0.028% | $11.8M | $3.1M | 30x | as long as short |
| OKX US500-USDT-SWAP | 0.0000% | 8h | 7,771 | +0.064% | $153K | $252K | 20x | as long as short |
| Bitget SP500USDT | 0.0000% | 8h | 7,770.1 | +0.053% | $7.2M | $789K | 50x | as long as short |
| Variational Omni US500 | 0.0000% | 8h | 7,744.7 | −0.274% | $17.2M | $9.3M | — | as long as short |
| Bullet US500-USD | 0.0000% | 1h | 7,767.3 | +0.016% | $12K | $106K | 10x | as long as short |
| Lighter US500long | +0.0032% | 1h | 7,766 | long leg | $2.1M | $28.7M | 50x | |
| Extended SPX500m-USD | +0.0032% | 1h | 7,768.9 | +0.038% | $3.2M | $13.5M | 25x | as long as short |
| Markets by Kinetiq mkts:US500 | +0.0046% | 1h | 7,738.5 | −0.354% | $1.6M | $7.3M | 25x | as long as short |
| Vest SPX-USD-PERP | +0.0046% | 1h | 7,833.3 | +0.866% | — | $3.5M | 50x | as long as short |
Injective US500/USDC PERP
QFEX US500-USD
OKX US500-USDT-SWAP
Bitget SP500USDT
Variational Omni US500
Bullet US500-USD
Extended SPX500m-USD
Markets by Kinetiq mkts:US500
Vest SPX-USD-PERPShow all 18 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Popdex US500USDT | +0.0048% | 1h | 7,768.7 | +0.035% | $545K | $440K | 20x | as long as short |
| Paradex US500-USD-PERP | +0.0050% | 8h | 7,766 | +0.001% | $43K | — | 5x | as long as short |
| tradeXYZ xyz:SP500 | +0.0050% | 1h | 7,767.4 | +0.018% | $437.1M | $254.4M | 50x | as long as short |
| Polymarket Perps SP500-USDshort | +0.0050% | 1h | 7,765.6 | −0.005% | $9.0M | $2.3M | 50x | |
| SoDEX US500-USD | +0.0050% | 1h | 7,767.2 | +0.015% | $1.1M | $85K | 20x | as long as short |
| Ondo Perps US500-USD.P | +0.0050% | 1h | 7,767.5 | +0.019% | $9.5M | $6.9M | 25x | as long as short |
| Pacifica SP500 | +0.0100% | 1h | 7,767.9 | +0.025% | $258K | $195K | 20x | as long as short |
| Aftermath Perps US500USD | +0.0133% | 1h | 7,765.9 | −0.001% | $458 | $22K | 10x | as long as short |
Popdex US500USDT
Paradex US500-USD-PERP
tradeXYZ xyz:SP500
SoDEX US500-USD
Ondo Perps US500-USD.P
Pacifica SP500
Aftermath Perps US500USD