Funding arb · Price arb /

PLTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC+0.0281%/8hnext payment +$0.35 per $10,000 · paid last 24h +0.032%

Price spread now: Lighter against Polymarket Perps+0.093%45s7-day average +0.033% · you sell dearer than you buy

Net, funding: paid 7d − costs−$8as 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−$180.184% of the position

Long on Polymarket Perps Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.106%+$11 on $10k

Price spread, last 3 days (all we have)−0.097%−$10 · spread now +0.093%, 7d avg +0.033%

Together, before fees+0.008%+ Points / potential airdropLighter: Season 3 · farm board+$1 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Lighter is 0.061% dearer against Polymarket Perps than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.033%. The two prices were read 45 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.106% in total (about 5.5% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.35 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps PLTR-USD	182.40	−0.0249	get 0.0031% / 1h	4m 53s	$198K	$592K	10x
Short	Lighter PLTR	182.57	0.0032	get 0.0004% / 1h	4m 53s	$182K	$310K	10x

Funding 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 it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee Polymarket PerpsbpFee LighterbpOrdersPrice spread, now +0.093%Rate

Funding earned: $59
Price spread: +0.093% → +0.033%: $6.07
Slippage, 4 orders: −$10.42
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: $46.65
Costs to cover: 0.184%
Break-even: 1.5 days

Slippage from Polymarket Perps: live order book, 27 min ago; Lighter: live order book, 22 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, 27 min ago	1.10 bp	5.1 bp −$5	5.7 bp −$57	doesn't fit	doesn't fit
Sell Lighter live order book, 22 min ago	1.68 bp	1.7 bp −$2	4.5 bp −$45	doesn't fit	doesn't fit

PLTR on 27 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
Polymarket Perps PLTR-USDlong	−0.0249%	1h	182.40	long leg	$198K	$592K	10x
Hotstuff PLTR-PERP	−0.0008%	1h	182.17	−0.126%	$29K	$10K	20x	as long as short
tradeXYZ xyz:PLTR	−0.0004%	1h	182.43	+0.016%	$12.2M	$6.9M	10x	as long as short
Aster PLTRUSDT	0.0000%	8h	182.59	+0.107%	$56K	$33K	50x	as long as short
Extended PLTR_24_5-USD	0.0000%	1h	182.75	+0.190%	$308K	$1.4M	10x	as long as short
Binance PLTRUSDT	0.0000%	8h	182.55	+0.082%	$9.4M	$29.2M	20x	as long as short
OKX PLTR-USDT-SWAP	0.0000%	8h	182.51	+0.060%	$1.7M	$2.2M	20x	as long as short
Gate PLTR_USDT	0.0000%	8h	182.46	+0.033%	$332K	$689K	50x	as long as short
Bitget PLTRUSDT	0.0000%	8h	182.44	+0.022%	$3.4M	$3.2M	20x	as long as short
Variational Omni PLTR	0.0000%	8h	182.31	−0.047%	$633K	$130K	—	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT PLTR_USDT_Perp	0.0000%	8h	182.45	+0.027%	$16K	$726K	10x	as long as short
Lighter PLTRshort	+0.0032%	1h	182.57	+0.093%	$182K	$310K	10x
Lighter RH PLTR	+0.0032%	1h	182.62	+0.121%	$372K	$593K	10x	as long as short
Injective PLTR/USDC PERP	+0.0033%	1h	181.69	−0.389%	$1K	$42K	30x	as long as short
Vest PLTR-USD-PERP	+0.0046%	1h	182.67	+0.148%	—	$123K	25x	as long as short
QFEX PLTR-USD	+0.0049%	1h	182.70	+0.164%	$1.2M	$2.5M	10x	as long as short
SoDEX PLTR-USD	+0.0050%	1h	182.65	+0.137%	$52K	$4K	10x	as long as short
Ondo Perps PLTR-USD.P	+0.0050%	1h	182.19	−0.115%	$311K	$1.1M	10x	as long as short
Phoenix PLTR	+0.0088%	1h	182.21	−0.104%	$30K	$117K	10x	as long as short
Pacifica PLTR	+0.0100%	1h	182.61	+0.117%	$192K	$13K	10x	as long as short
KuCoin PLTRUSDTM	+0.0100%	8h	182.53	+0.071%	$1.1M	$30K	20x	as long as short
ApeX Omni PLTRUSDT	+0.0100%	1h	182.33	−0.038%	$2K	$7K	50x	as long as short
Aevo PLTR-PERP	+0.0104%	1h	182.64	+0.132%	$89	—	10x	as long as short
Bybit PLTRUSDT	+0.0118%	8h	182.60	+0.110%	$3.0M	$2.3M	25x	as long as short
BloFin PLTR-USDT	+0.0120%	8h	182.34	−0.033%	$126K	$180K	20x	as long as short
Arcus PLTR-USD	+0.0436%	1h	182.63	+0.126%	$86K	$46K	10x	as long as short
edgeX PLTRUSDC	+0.0668%	4h	182.49	+0.050%	$42K	$260K	10x	as long as short