Funding you earn now, next payment 04:00 UTC+0.0004%/8h= +0.4% APRnext payment +$0.01 per $10,000 · paid last 24h +0.001%
Price spread now: Polymarket Perps against Lighter−0.005%7-day average −0.020% · you buy dearer than you sell
Net, funding: paid 7d − costs−$6as in the Funding arb table
Net, price: spread back to 7d avg − costs−$7as in the Price arb table
costs, in and out, $10k−$90.087% of the position
Funding, last 7 days+0.026%+$3 on $10k
+Price spread, last 7 days+0.005%$0 · spread now −0.005%, 7d avg −0.020%
=Together, before fees+0.031%+ Points / potential airdropLighter: Season 3 · farm board+$3 on $10k · with fees, hour by hour
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter BTC | 85,454.3 | 0.0096 | pay 0.0012% / 1h | 19m 13s | $172.4M | $1.01B | 50x |
| Short | Polymarket Perps BTC-USD | 85,450 | 0.0100 | get 0.0013% / 1h | 19m 13s | $11.0M | $14.2M | 50x |
Lighter BTC
Polymarket Perps BTC-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
- $0.84
- Price spread: −0.005% → −0.020%
- $1.53
- Slippage, 4 orders
- −$0.73
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Polymarket Perps: 4 bp × 2 orders
- −$8
- Net
- −$6.36
- Costs to cover
- 0.087%
- Break-even
- 60.0 days
Slippage from Lighter: live order book, 5 min ago; Polymarket Perps: 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 Lighter live order book, 5 min ago | 0.09 bp | 0.3 bp $0 | 0.3 bp −$3 | 1.1 bp −$105 | 3.3 bp −$1,665 |
| Sell Polymarket Perps live order book, 5 min ago | 0.06 bp | 4.1 bp −$4 | 4.2 bp −$42 | 7.2 bp −$722 | doesn't fit |
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 | −0.0179% | 1h | 85,530 | +0.089% | $2.1M | $10.3M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,474 | +0.023% | $8K | $3K | 50x | as long as short |
| 01 Exchange BTCUSD | −0.0056% | 1h | 85,450.4 | −0.005% | $365K | $2.3M | 50x | as long as short |
| KuCoin XBTUSDTM | −0.0023% | 8h | 85,420 | −0.040% | $918.6M | $751.9M | 125x | as long as short |
| BloFin BTC-USDT | −0.0022% | 8h | 85,447.7 | −0.008% | $416.2M | $667.6M | 150x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0005% / S −0.0004% | 1h | 85,469.4 | +0.018% | $36.5M | — | 200x | as long as short |
| Aster BTCUSDT | +0.0011% | 8h | 85,440.5 | −0.016% | $515.1M | $1.10B | 200x | as long as short |
| dYdX BTC-USD | +0.0013% | 1h | 85,497.7 | +0.051% | $16.7M | $21.2M | 50x | as long as short |
| Nado BTC-PERP | +0.0018% | 1h | 85,445.6 | −0.010% | $25.3M | $222.3M | 50x | as long as short |
| Arcus BTC-USD | +0.0021% | 1h | 85,442.7 | −0.014% | $4.4M | $98.1M | 40x | as long as short |
Phoenix BTC
Hotstuff BTC-PERP
01 Exchange BTCUSD
KuCoin XBTUSDTM
BloFin BTC-USDT
gTrade (Gains Network) BTC/USD
Aster BTCUSDT
dYdX BTC-USD
Nado BTC-PERP
Arcus BTC-USDShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX BTC-USDT | +0.0062% | 8h | 85,438 | −0.019% | — | $1.54B | — | as long as short |
| Phemex BTCUSDT | +0.0075% | 8h | 85,440 | −0.017% | $147.5M | $488.2M | 150x | as long as short |
| Bitget BTCUSDT | +0.0078% | 8h | 85,426.6 | −0.032% | $2.95B | $5.07B | 150x | as long as short |
| Reya BTCRUSDPERP | +0.0083% | 1h | 85,449.9 | −0.005% | $6.7M | $146.8M | 40x | as long as short |
| Lighter BTClong | +0.0096% | 1h | 85,454.3 | long leg | $172.4M | $1.01B | 50x | |
| Lighter RH BTC | +0.0096% | 1h | 85,460.1 | +0.007% | $23.8M | $149.2M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,462 | +0.009% | $8.4M | $52.9M | 100x | as long as short |
| Aevo BTC-PERP | +0.0096% | 1h | 85,444.7 | −0.011% | $2.4M | $1.7M | 20x | as long as short |
| MEXC BTC_USDT | +0.0097% | 8h | 85,442.9 | −0.013% | $5.06B | $5.64B | 500x | as long as short |
| Binance BTCUSDT | +0.0098% | 8h | 85,451.7 | −0.003% | $9.36B | $24.15B | 150x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,424 | −0.035% | $210K | $8.1M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,519.4 | +0.076% | $4.9M | $9.0M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,521 | +0.078% | $3.74B | $4.98B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,481.4 | +0.032% | $40.1M | $579.3M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,435.6 | −0.022% | $5.21B | $9.79B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,437.3 | −0.020% | $2.58B | $12.13B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,441 | −0.016% | $3.9M | $18.2M | 25x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,516 | +0.072% | $659.1M | $647.8M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,436.1 | −0.021% | $5.51B | $10.73B | 200x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,427 | −0.032% | $35.7M | $176.6M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,443.5 | −0.013% | $153.4M | $565.7M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,504 | +0.058% | $279.3M | $921.6M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,513.1 | +0.069% | $214.6M | $168.8M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,457.2 | +0.003% | $139.7M | $314.5M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,489.4 | +0.041% | $30.2M | $208.2M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,514.5 | +0.070% | — | $11.8M | 50x | as long as short |
| Polymarket Perps BTC-USDshort | +0.0100% | 1h | 85,450 | −0.005% | $11.0M | $14.2M | 50x | |
| Bullet BTC-USD | +0.0100% | 1h | 85,457 | +0.003% | $190K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,448.5 | −0.007% | $2.4M | $8.9M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,495.3 | +0.048% | $207K | $738K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,442.4 | −0.014% | $29.9M | $50.3M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,441.4 | −0.015% | $2.9M | $6.1M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 85,448 | −0.007% | $59.9M | $336.2M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,450 | −0.005% | $2.26B | $942.8M | 200x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,425.1 | −0.034% | $44.6M | $230.9M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 85,468.6 | +0.017% | — | $107.5M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0104% | 1h | 85,481.6 | +0.032% | $117.2M | $5.19B | 50x | as long as short |
| Deribit BTC-PERPETUAL | +0.0149% | 1h | 85,493.3 | +0.046% | $891.3M | $1.58B | 50x | as long as short |
| Injective BTC/USDC PERP | +0.0150% | 1h | 85,475 | +0.024% | $339K | $26.9M | 52x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0170% | 1h | 85,464.2 | +0.012% | $187.5M | $955.3M | 100x | as long as short |
| RISEx BTC/USDC | +0.0194% | 1h | 85,482.7 | +0.033% | $8.2M | $42.5M | 25x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0202% / S −0.0177% | 1h | 85,465.4 | +0.013% | $13.4M | — | 200x | as long as short |
| Hibachi BTC/USDT-P | +0.0216% | 1h | 85,497.8 | +0.051% | $703K | $7.9M | 30x | as long as short |
| Kalshi KXBTCPERP | +0.0218% | 8h | 85,480 | +0.030% | $10.3M | $756.2M | 6.4x | as long as short |
| Aftermath Perps BTCUSD | +0.0225% | 1h | 85,532.2 | +0.091% | $78K | $219K | 20x | as long as short |
| Perpl BTC | +0.0447% | 43m | 85,462.2 | +0.009% | $497K | $18.8M | 6.7x | as long as short |
BingX BTC-USDT
Phemex BTCUSDT
Bitget BTCUSDT
Reya BTCRUSDPERP
Lighter RH BTC
Popdex BTCUSDT
Aevo BTC-PERP
MEXC BTC_USDT
Binance BTCUSDT
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Hyperliquid BTC
Pacifica BTC
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Bulk BTC-USD
Gate BTC_USDT
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
SoDEX BTC-USD
HTX BTC-USDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Deribit BTC-PERPETUAL
Injective BTC/USDC PERP
Kraken Futures PF_XBTUSD
RISEx BTC/USDC
GMX BTC/USD [WBTC.b-USDC]
Hibachi BTC/USDT-P
Kalshi KXBTCPERP
Aftermath Perps BTCUSD
Perpl BTC