Funding you earn now, next payment 08:00 UTC−0.0018%/8h= −2.0% APRnext payment −$0.02 per $10,000 · paid last 24h +0.032%
Price spread now: Lighter against Polymarket Perps+0.050%7-day average +0.154% · you sell dearer than you buy
Net, funding: paid 7d − costs−$28as in the Funding arb table
Net, price: spread back to 7d avg − costs−$65as in the Price arb table
costs, in and out, $10k−$550.550% of the position
Funding, last 7 days+0.268%+$27 on $10k
+Price spread, last 4 days (all we have)+0.133%+$13 · spread now +0.050%, 7d avg +0.154%
=Together, before fees+0.401%+ Points / potential airdropLighter: Season 3 · farm board+$40 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Lighter is 0.104% cheaper against Polymarket Perps than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of +0.154%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.268%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Polymarket Perps TSM-USD | 439.15 | 0.0050 | pay 0.0006% / 1h | 45m 58s | $189K | $68K | 10x |
| Short | Lighter TSM | 439.37 | 0.0032 | get 0.0004% / 1h | 45m 58s | $495K | $186K | 10x |
Polymarket Perps TSM-USD
Lighter TSMFunding 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
- −$3.78
- Price spread: +0.050% → +0.154%
- −$10.39
- Slippage, 4 orders
- −$46.96
- Fee Polymarket Perps: 4 bp × 2 orders
- −$8
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$69.13
- Costs to cover
- 0.550%
- Break-even
- never at this rate
Slippage from Polymarket Perps: live order book, 56 min ago; Lighter: live order book, 49 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, 56 min ago | 2.28 bp | 7.2 bp −$7 | 8.3 bp −$83 | 10.8 bp −$1,076 | doesn't fit |
| Sell Lighter live order book, 49 min ago | 16.60 bp | 24.6 bp −$25 | 29.1 bp −$291 | doesn't fit | doesn't fit |
TSM on 28 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 | |
|---|---|---|---|---|---|---|---|---|
| edgeX TSMUSDC | −0.0513% | 4h | 439.41 | +0.060% | $47K | $217K | 10x | as long as short |
| Bitget TSMUSDT | −0.0165% | 8h | 439.40 | +0.057% | $1.7M | $1.5M | 20x | as long as short |
| Aster TSMUSDT | 0.0000% | 8h | 439.27 | +0.028% | $82K | $2K | 20x | as long as short |
| Bybit TSMUSDT | 0.0000% | 8h | 439.16 | +0.002% | $2.0M | $400K | 50x | as long as short |
| OKX TSM-USDT-SWAP | 0.0000% | 8h | 439.34 | +0.043% | $4.0M | $2.6M | 20x | as long as short |
| Gate TSM_USDT | 0.0000% | 8h | 439.16 | +0.002% | $1.7M | $1.1M | 100x | as long as short |
| Variational Omni TSM | 0.0000% | 8h | 439.35 | +0.045% | $558K | $38K | — | as long as short |
| SunX TSM-USDT | 0.0000% | 8h | 439.40 | +0.057% | $2K | $4.1M | 10x | as long as short |
| HTX TSM-USDT | 0.0000% | 8h | 439.36 | +0.048% | $9K | $8K | 20x | as long as short |
| Phemex TSMUSDT | 0.0000% | 8h | 440.48 | +0.303% | $1.5M | $528K | 10x | as long as short |
edgeX TSMUSDC
Bitget TSMUSDT
Aster TSMUSDT
Bybit TSMUSDT
OKX TSM-USDT-SWAP
Gate TSM_USDT
Variational Omni TSM
SunX TSM-USDT
HTX TSM-USDT
Phemex TSMUSDTShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter TSMshort | +0.0032% | 1h | 439.37 | +0.050% | $495K | $186K | 10x | |
| Lighter RH TSM | +0.0032% | 1h | 439.10 | −0.011% | $221K | $720K | 10x | as long as short |
| Vest TSM-USD-PERP | +0.0046% | 1h | 438.93 | −0.050% | — | $2K | 25x | as long as short |
| tradeXYZ xyz:TSM | +0.0050% | 1h | 438.76 | −0.089% | $10.1M | $1.8M | 10x | as long as short |
| Polymarket Perps TSM-USDlong | +0.0050% | 1h | 439.15 | long leg | $189K | $68K | 10x | |
| SoDEX TSM-USD | +0.0050% | 1h | 438.93 | −0.050% | $135 | $3K | 10x | as long as short |
| Ondo Perps TSM-USD.P | +0.0050% | 1h | 438.66 | −0.112% | $158K | $27K | 10x | as long as short |
| Extended TSM-USD | +0.0056% | 1h | 439.21 | +0.013% | $6K | $161K | 10x | as long as short |
| Coinbase International TSM-PERP-INTX | +0.0056% | 1h | 439.33 | +0.041% | $366K | $98K | 10x | as long as short |
| Binance TSMUSDT | +0.0058% | 8h | 439.33 | +0.042% | $12.8M | $8.0M | 20x | as long as short |
| GRVT TSM_USDT_Perp | +0.0063% | 8h | 439.22 | +0.015% | $6K | $1.3M | 10x | as long as short |
| BloFin TSM-USDT | +0.0068% | 8h | 439.66 | +0.116% | $45K | $106K | 20x | as long as short |
| KuCoin TSMUSDTM | +0.0100% | 8h | 439.04 | −0.025% | $266K | $310K | 20x | as long as short |
| Orderly PERP_TSM_USDC_mythos | +0.0100% | 8h | 439.24 | +0.020% | $21 | — | 10x | as long as short |
| Aevo TSM-PERP | +0.0104% | 1h | 439.33 | +0.041% | $123 | — | 10x | as long as short |
| Phoenix TSM | +0.0146% | 1h | 439.12 | −0.007% | $214K | $5K | 10x | as long as short |
| Injective TSM/USDC PERP | +0.0220% | 1h | 444.02 | +1.109% | $6K | $38K | 12x | as long as short |
| Deribit TSM_USDC-PERPETUAL | +0.0547% | 1h | 439.28 | +0.030% | $4 | $25K | 10x | as long as short |
Lighter RH TSM
Vest TSM-USD-PERP
tradeXYZ xyz:TSM
SoDEX TSM-USD
Ondo Perps TSM-USD.P
Extended TSM-USD
Coinbase International TSM-PERP-INTX
Binance TSMUSDT
GRVT TSM_USDT_Perp
BloFin TSM-USDT
KuCoin TSMUSDTM
Orderly PERP_TSM_USDC_mythos
Aevo TSM-PERP
Phoenix TSM
Injective TSM/USDC PERP
Deribit TSM_USDC-PERPETUAL