Funding you earn now, next payment 12:00 UTC−0.0004%/8h= −0.4% APRnext payment −$0.01 per $10,000 · paid last 24h −0.002%
Price spread now: Lighter against Polymarket Perps+0.228%45s7-day average +0.054% · you sell dearer than you buy
Net, funding: paid 7d − costs−$54as 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−$680.679% of the position
Funding, last 7 days+0.138%+$14 on $10k
+Price spread, last 4 days (all we have)+0.038%+$4 · spread now +0.228%, 7d avg +0.054%
=Together, before fees+0.176%+ Points / potential airdropLighter: Season 3 · farm board+$18 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 is 0.174% dearer against Polymarket Perps than usual: you sell high and buy low, +$17 on $10k if it goes back to its 7-day average of +0.054%. 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 | Polymarket Perps ETHFI-USD | 0.6926 | 0.0100 | pay 0.0013% / 1h | 47m 29s | $47K | $199K | 5x |
| Short | Lighter ETHFI | 0.6942 | 0.0096 | get 0.0012% / 1h | 47m 29s | $1.1M | $718K | 5x |
Polymarket Perps ETHFI-USD
Lighter ETHFIFunding 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
- −$0.84
- Price spread: +0.228% → +0.054%
- $17.42
- Slippage, 4 orders
- −$59.93
- Fee Polymarket Perps: 4 bp × 2 orders
- −$8
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$51.35
- Costs to cover
- 0.679%
- Break-even
- never at this rate
Slippage from Polymarket Perps: live order book, 57 min ago; Lighter: 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 Polymarket Perps live order book, 57 min ago | 2.88 bp | 8.5 bp −$9 | doesn't fit | doesn't fit | doesn't fit |
| Sell Lighter live order book, 1 min ago | 6.77 bp | 23.4 bp −$23 | 83.1 bp −$831 | doesn't fit | doesn't fit |
ETHFI on 24 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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit ETHFI_USDC-PERPETUAL | −0.0326% | 1h | 0.6935 | +0.130% | $44K | $15K | 10x | as long as short |
| Orderly PERP_ETHFI_USDC | −0.0326% | 4h | 0.6930 | +0.058% | $16K | $1K | 10x | as long as short |
| Variational Omni ETHFI | −0.0321% | 4h | 0.6908 | −0.265% | $875K | $733K | — | as long as short |
| Paradex ETHFI-USD-PERP | −0.0149% | 8h | 0.6937 | +0.161% | $6K | — | 5x | as long as short |
| Bybit ETHFIUSDT | −0.0143% | 4h | 0.6946 | +0.289% | $16.9M | $11.9M | 25x | as long as short |
| Extended ETHFI-USD | −0.0016% | 1h | 0.6935 | +0.125% | $108K | $916K | 10x | as long as short |
| MEXC ETHFI_USDT | −0.0016% | 4h | 0.6934 | +0.116% | $15.6M | $3.9M | 125x | as long as short |
| Binance ETHFIUSDT | −0.0016% | 4h | 0.6947 | +0.303% | $24.3M | $31.7M | 75x | as long as short |
| Injective ETHFI/USDC PERP | +0.0033% | 1h | 0.7240 | +4.534% | $321 | $51K | 5.5x | as long as short |
| HTX ETHFI-USDT | +0.0036% | 4h | 0.6917 | −0.130% | $83K | $114K | 20x | as long as short |
Deribit ETHFI_USDC-PERPETUAL
Orderly PERP_ETHFI_USDC
Variational Omni ETHFI
Paradex ETHFI-USD-PERP
Bybit ETHFIUSDT
Extended ETHFI-USD
MEXC ETHFI_USDT
Binance ETHFIUSDT
Injective ETHFI/USDC PERP
HTX ETHFI-USDTShow all 24 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aevo ETHFI-PERP | +0.0080% | 1h | 0.6930 | +0.058% | $8K | — | 3x | as long as short |
| Lighter ETHFIshort | +0.0096% | 1h | 0.6942 | +0.228% | $1.1M | $718K | 5x | |
| Hyperliquid ETHFI | +0.0100% | 1h | 0.6937 | +0.159% | $16.5M | $8.0M | 5x | as long as short |
| Aster ETHFIUSDT | +0.0100% | 4h | 0.6945 | +0.267% | $180K | $163K | 10x | as long as short |
| OKX ETHFI-USDT-SWAP | +0.0100% | 4h | 0.6943 | +0.245% | $5.2M | $11.9M | 20x | as long as short |
| Gate ETHFI_USDT | +0.0100% | 4h | 0.6941 | +0.217% | $1.7M | $1.7M | 75x | as long as short |
| KuCoin ETHFIUSDTM | +0.0100% | 4h | 0.6930 | +0.058% | $1.2M | $183K | 50x | as long as short |
| Bitget ETHFIUSDT | +0.0100% | 4h | 0.6941 | +0.217% | $6.2M | $3.7M | 75x | as long as short |
| BingX ETHFI-USDT | +0.0100% | 4h | 0.6938 | +0.173% | — | $11.3M | — | as long as short |
| Polymarket Perps ETHFI-USDlong | +0.0100% | 1h | 0.6926 | long leg | $47K | $199K | 5x | |
| SunX ETHFI-USDT | +0.0100% | 4h | 0.6934 | +0.116% | $2K | $1.0M | 20x | as long as short |
| Kraken Futures PF_ETHFIUSD | +0.0204% | 1h | 0.6936 | +0.146% | $293K | $313K | 20x | as long as short |
| BloFin ETHFI-USDT | +0.0222% | 4h | 0.6907 | −0.274% | $1.2M | $231K | 75x | as long as short |
| Coinbase International ETHFI-PERP-INTX | +0.0328% | 1h | 0.6937 | +0.159% | $35K | $10K | 50x | as long as short |
Aevo ETHFI-PERP
Hyperliquid ETHFI
Aster ETHFIUSDT
OKX ETHFI-USDT-SWAP
Gate ETHFI_USDT
KuCoin ETHFIUSDTM
Bitget ETHFIUSDT
BingX ETHFI-USDT
SunX ETHFI-USDT
Kraken Futures PF_ETHFIUSD
BloFin ETHFI-USDT
Coinbase International ETHFI-PERP-INTX