Funding you earn now, next payment 01:00 UTC−0.0004%/8h= −0.4% APRnext payment −$0.01 per $10,000 · paid last 24h −0.001%
Price spread now: Lighter RH against Polymarket Perps−0.063%7-day average +0.020% · you buy dearer than you sell
Net, funding: paid 7d − costs−$12as in the Funding arb table
Net, price: spread back to 7d avg − costs−$18as in the Price arb table
costs, in and out, $10k−$100.100% of the position
Funding, last 7 days−0.019%−$2 on $10k
+Price spread, last 7 days+0.050%+$5 · spread now −0.063%, 7d avg +0.020%
=Together, before fees+0.031%+ Points / potential airdropLighter RH: Points live · farm board+$3 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 RH is 0.083% cheaper against Polymarket Perps than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of +0.020%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Polymarket Perps BTC-USD | 86,112 | 0.0100 | pay 0.0013% / 1h | 3m 58s | $11.0M | $14.1M | 50x |
| Short | Lighter RH BTC | 86,057.6 | 0.0096 | get 0.0012% / 1h | 3m 58s | $23.5M | $152.4M | 50x |
Polymarket Perps BTC-USD
Lighter RH BTCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter RH 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: −0.063% → +0.020%
- −$8.33
- Slippage, 4 orders
- −$2.05
- Fee Polymarket Perps: 4 bp × 2 orders
- −$8
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Net
- −$19.22
- Costs to cover
- 0.100%
- Break-even
- never at this rate
Slippage from Polymarket Perps: live order book, 5 min ago; Lighter RH: 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 Polymarket Perps live order book, 5 min ago | 0.06 bp | 4.6 bp −$5 | 5.9 bp −$59 | 9.1 bp −$906 | doesn't fit |
| Sell Lighter RH live order book, 5 min ago | 0.49 bp | 0.5 bp $0 | 0.7 bp −$7 | 3.1 bp −$307 | 24.6 bp −$12.3K |
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 | −0.0129% | 1h | 86,215 | +0.120% | $2.2M | $11.2M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 86,129 | +0.020% | $9K | $3K | 50x | as long as short |
| 01 Exchange BTCUSD | −0.0048% | 1h | 86,111.1 | −0.001% | $363K | $2.3M | 50x | as long as short |
| Perpl BTC | 0.0000% | 43m | 86,144.7 | +0.038% | $518K | $21.2M | 6.7x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 86,126.9 | +0.017% | $36.8M | — | 200x | as long as short |
| Injective BTC/USDC PERP | +0.0023% | 1h | 86,365 | +0.294% | $343K | $26.9M | 52x | as long as short |
| dYdX BTC-USD | +0.0023% | 1h | 86,108.9 | −0.004% | $16.9M | $20.5M | 50x | as long as short |
| Aster BTCUSDT | +0.0031% | 8h | 86,027 | −0.099% | $498.8M | $1.13B | 200x | as long as short |
| KuCoin XBTUSDTM | +0.0044% | 8h | 85,962.7 | −0.173% | $826.2M | $715.8M | 125x | as long as short |
| Reya BTCRUSDPERP | +0.0050% | 1h | 86,101.2 | −0.013% | $6.7M | $145.8M | 40x | as long as short |
Phoenix BTC
Hotstuff BTC-PERP
01 Exchange BTCUSD
Perpl BTC
gTrade (Gains Network) BTC/USD
Injective BTC/USDC PERP
dYdX BTC-USD
Aster BTCUSDT
KuCoin XBTUSDTM
Reya BTCRUSDPERPShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| RISEx BTC/USDC | +0.0052% | 1h | 86,122.8 | +0.013% | $8.2M | $42.4M | 25x | as long as short |
| BingX BTC-USDC | +0.0053% | 8h | 85,908.2 | −0.237% | — | $15.3M | — | as long as short |
| HTX BTC-USDT | +0.0056% | 8h | 86,045.8 | −0.077% | $2.28B | $959.1M | 200x | as long as short |
| Bitget BTCUSDT | +0.0066% | 8h | 85,968.3 | −0.167% | $2.96B | $5.07B | 150x | as long as short |
| Phemex BTCUSDT | +0.0066% | 8h | 86,057.3 | −0.064% | $155.2M | $473.2M | 150x | as long as short |
| SoDEX BTC-USD | +0.0069% | 1h | 86,066 | −0.053% | $60.3M | $338.3M | 40x | as long as short |
| Aevo BTC-PERP | +0.0080% | 1h | 86,069.6 | −0.049% | $2.5M | $1.8M | 20x | as long as short |
| Binance BTCUSDT | +0.0083% | 8h | 85,916.8 | −0.227% | $9.35B | $24.31B | 150x | as long as short |
| MEXC BTC_USDT | +0.0083% | 8h | 85,947.5 | −0.191% | $5.10B | $5.77B | 500x | as long as short |
| Bluefin BTC-PERP | +0.0087% | 1h | 86,118 | +0.007% | $144K | $666K | 40x | as long as short |
| Gate BTC_USDT | +0.0095% | 8h | 85,972.8 | −0.162% | $5.74B | $10.68B | 200x | as long as short |
| Lighter BTC | +0.0096% | 1h | 86,076.1 | −0.042% | $170.0M | $997.4M | 50x | as long as short |
| Lighter RH BTCshort | +0.0096% | 1h | 86,057.6 | −0.063% | $23.5M | $152.4M | 50x | |
| Popdex BTCUSDT | +0.0096% | 1h | 86,113 | +0.001% | $8.4M | $52.0M | 100x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 86,091 | −0.024% | $201K | $7.3M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 86,165 | +0.062% | $4.2M | $8.5M | 50x | as long as short |
| Nado BTC-PERP | +0.0100% | 1h | 86,113.4 | +0.002% | $21.8M | $225.5M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 86,078 | −0.039% | $3.77B | $4.97B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 86,156.6 | +0.052% | $40.8M | $560.8M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,937.6 | −0.203% | $5.23B | $9.67B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,940 | −0.200% | $2.55B | $12.42B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 86,120 | +0.009% | $3.9M | $17.9M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 86,134.1 | +0.026% | $7.3M | $95.2M | 40x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 86,014 | −0.114% | $35.4M | $161.8M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 86,079.3 | −0.038% | $156.4M | $555.5M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 86,114.1 | +0.002% | $278.1M | $940.2M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 86,175.4 | +0.074% | $216.3M | $165.4M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 86,194.2 | +0.095% | $141.1M | $320.0M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 86,069.2 | −0.050% | $30.5M | $206.6M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 86,148.9 | +0.043% | — | $11.8M | 50x | as long as short |
| Polymarket Perps BTC-USDlong | +0.0100% | 1h | 86,112 | long leg | $11.0M | $14.1M | 50x | |
| Bullet BTC-USD | +0.0100% | 1h | 86,116.5 | +0.005% | $189K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 86,080.1 | −0.037% | $2.4M | $9.1M | 100x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 86,088.5 | −0.027% | $30.2M | $57.0M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 86,047.1 | −0.075% | $3.3M | $5.4M | 100x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 86,141.5 | +0.034% | $581.0M | $76.4M | 40x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,950.3 | −0.188% | $46.0M | $222.6M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 86,080.4 | −0.037% | — | $99.2M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0120% | 1h | 86,084.4 | −0.032% | $132.2M | $5.27B | 50x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0122% | 1h | 86,090 | −0.026% | $190.1M | $954.0M | 100x | as long as short |
| Hibachi BTC/USDT-P | +0.0128% | 1h | 86,108.8 | −0.004% | $724K | $8.0M | 30x | as long as short |
| Aftermath Perps BTCUSD | +0.0169% | 1h | 86,174.5 | +0.073% | $77K | $217K | 20x | as long as short |
| Deribit BTC-PERPETUAL | +0.0182% | 1h | 86,111.8 | 0.000% | $902.8M | $1.51B | 50x | as long as short |
| BloFin BTC-USDT | +0.0203% | 8h | 86,079.9 | −0.037% | $415.6M | $640.3M | 150x | as long as short |
| Kalshi KXBTCPERP | +0.0205% | 8h | 86,114 | +0.002% | $10.2M | $766.1M | 6.4x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0207% / S −0.0222% | 1h | 86,121.5 | +0.011% | $14.5M | — | 200x | as long as short |
RISEx BTC/USDC
BingX BTC-USDC
HTX BTC-USDT
Bitget BTCUSDT
Phemex BTCUSDT
SoDEX BTC-USD
Aevo BTC-PERP
Binance BTCUSDT
MEXC BTC_USDT
Bluefin BTC-PERP
Gate BTC_USDT
Lighter BTC
Popdex BTCUSDT
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Nado BTC-PERP
Hyperliquid BTC
Pacifica BTC
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
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
Derive BTC-PERP
SunX BTC-USDT
Bulk BTC-USD
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Kraken Futures PF_XBTUSD
Hibachi BTC/USDT-P
Aftermath Perps BTCUSD
Deribit BTC-PERPETUAL
BloFin BTC-USDT
Kalshi KXBTCPERP
GMX BTC/USD [WBTC.b-USDC]