What is the funding rate on Lighter?

There is no single rate — every market has its own, and it moves every funding period. Across all 129 perpetual markets on Lighter right now, the average annualized funding is +8.83%, which means the venue as a whole is currently charging longs to hold. Ignoring the direction, the average market pays or charges 11.73% annualized, and that is roughly what being on the right side of it is worth. The live rate for every individual market is in the table on this page.

How often does Lighter pay funding?

Lighter settles funding hourly, though it does not publish a schedule for the next settlement, so no countdown is shown on this page rather than a guessed one. The interval matters more than it looks: a rate quoted per hour and a rate quoted per eight hours are not comparable until they are put on the same basis, so every figure on this site is normalized to an 8-hour basis before it is compared or ranked.

What are Lighter's trading fees?

Lighter charges 0.040% to take liquidity and 0.010% to make it. These are the fees used in every net-APR figure on this page: a funding trade pays the taker fee four times (in and out of both legs), which is exactly why a wide spread held briefly can still lose money.

How many markets does Lighter list?

We collect 129 perpetual markets from Lighter. All of them report 24-hour volume. Every one is listed with its mark price, funding rate and funding interval in the book on this page.

Which exchange pairs best with Lighter for funding arbitrage?

Right now, Binance: going long on SNDK on Lighter against the opposite leg on Binance opens a gross funding spread of +57.44% annualized, which is +48.05% after both venues' taker fees. That is one snapshot of a rate that floats — 9 of Lighter's markets currently have a counterparty on a book deep enough to trade, and all of them are ranked on this page.

Is Lighter good for funding arbitrage?

As one leg, yes: 9 of Lighter's 129 markets have a counterparty on another venue where both books cleared $1.00M in the last 24 hours, and its 0.040% taker fee is charged twice in a round trip on this leg. What decides the trade is the OTHER venue — the spread is the distance between two funding rates, so a venue is never good or bad on its own. The pairs above name the counterparty for each market.

← All exchanges

Lighter funding rates and fees

DEX
Ethereum (zk-rollup)
Self-custody
No KYC
Since 2025

Lighter lists 129 perpetual markets and settles funding hourly, at 0.040% taker / 0.010% maker. 9 of those markets have a counterparty on another venue with a book deep enough to trade against. The widest right now is long SNDK here against Binance, paying +48.05% annualized after both venues' taker fees.

A perps DEX that runs as a zk-rollup: matching, liquidations and funding are proven with zero-knowledge circuits and verified on Ethereum, where user funds sit in smart contracts rather than with the operator. Public mainnet opened in October 2025 after months of invite-only trading, and an account is just a signature from your wallet. If the sequencer stalls or censors you, you can force your withdrawal from L1 — but that sequencer is still a single operator, and the venue is barely a year old.

Taker fee

0.040%0.010% maker

Funding settles

1hhourly

Next funding

—Lighter publishes no schedule

Tradable pairs

9both books over $1.00M in 24h

Trade on Lighter

The pairs

Where Lighter is worth trading — and against whom.

Every market here, matched against the venue that opens the widest funding gap against it. The axis draws both rates on one scale, and the lit bar between them is the spread — the money. Net APR is what that spread pays after both venues' taker fees, held a week.

The first tradable pairs on Lighter: the side you take here, the funding rate on each venue, and the net APR after both venues' taker fees.
Market	Your side here	On Lighter	Best counterparty	Net APR
SSNDK	Long	+3.50%	Binance+60.95%	+48.05%+57.44% gross · 27h to break evenbooks $5.62M · $2.36B
PPUMP	Long	+10.51%	Backpack+62.10%	+39.08%+51.59% gross · 41h to break evenbooks $1.51M · $1.38M
EETH	Short	+10.51%	Hibachi-19.27%	+20.39%+29.78% gross · 2.2d to break evenbooks $487.59M · $2.50M
EENA	Short	+10.51%	Extended-14.89%	+16.01%+25.40% gross · 2.6d to break evenbooks $1.52M · $2.42M
XXAU	Long	+3.50%	Bybit+18.00%	+4.59%+14.50% gross · 4.8d to break evenbooks $57.78M · $136.69M

Show the 4 other pairs

The remaining tradable pairs on Lighter: the side you take here, the funding rate on each venue, and the net APR after both venues' taker fees.
Market	Your side here	On Lighter	Best counterparty	Net APR
BBTC	Long	+4.38%	Extended+11.39%	-2.38%+7.01% gross · 9.4d to break evenbooks $805.56M · $217.00M
NNEAR	Short	+10.51%	Kalshi+0.00%	-6.18%+10.51% gross · 11.1d to break evenbooks $1.53M · $3.52M
XXRP	Short	+10.51%	Kalshi+0.00%	-6.18%+10.51% gross · 11.1d to break evenbooks $2.08M · $1.96M
ZZEC	Short	+10.51%	Kalshi+0.00%	-6.18%+10.51% gross · 11.1d to break evenbooks $19.93M · $11.26M

Show the 115 pairs on books too thin to trade

The first pairs on books too thin to trade on Lighter: the side you take here, the funding rate on each venue, and the net APR after both venues' taker fees.
Market	Your side here	On Lighter	Best counterparty	Net APR
AAPT	Short	+10.51%	N1-349.52%	+352.22%+360.04% gross · 3.6h to break evenbooks $578.99K · $637
UUSELESS	Short	+228.64%	Aster+10.95%	+208.30%+217.69% gross · 7.2h to break evenbooks $166.42K · $25.69K
SS	Short	+10.51%	Variational-163.54%	+164.66%+174.05% gross · 9.1h to break evenbooks $1.39K · $23.59K
FFOGO	Short	-3.50%	Backpack-168.58%	+152.56%+165.07% gross · 13h to break evenbooks $27.33K · $166.23K
PPOL	Short	+10.51%	Variational-82.64%	+83.76%+93.15% gross · 17h to break evenbooks $238.91K · $133.81K

Show the 110 other thin pairs

The remaining pairs on books too thin to trade on Lighter: the side you take here, the funding rate on each venue, and the net APR after both venues' taker fees.
Market	Your side here	On Lighter	Best counterparty	Net APR
SSTABLE	Long	-84.97%	Backpack+10.95%	+83.41%+95.92% gross · 22h to break evenbooks $7.21K · $22.08K
ZZRO	Short	+10.51%	Orderly-77.42%	+78.54%+87.93% gross · 18h to break evenbooks $253.32K · $46.71K
CCRCL	Short	+87.60%	Bybit+0.00%	+77.69%+87.60% gross · 19h to break evenbooks $909.69K · $9.38M
AARC	Long	+10.51%	Binance+93.53%	+73.63%+83.02% gross · 19h to break evenbooks $34.91K · $5.71M
JJTO	Long	+10.51%	Backpack+94.32%	+71.30%+83.81% gross · 25h to break evenbooks $103.38K · $372.88K
TTIA	Long	+10.51%	Backpack+90.78%	+67.75%+80.26% gross · 26h to break evenbooks $193.52K · $171.40K
LLIT	Short	+10.51%	Orderly-66.11%	+67.23%+76.62% gross · 21h to break evenbooks $15.08M · $55.04K
HHYPE	Long	+10.51%	Hibachi+86.72%	+66.82%+76.21% gross · 21h to break evenbooks $33.09M · $457.58K
BBCH	Short	+2.63%	Bybit-67.69%	+60.40%+70.31% gross · 24h to break evenbooks $164.83K · $17.24M
MMET	Long	+10.51%	Backpack+80.36%	+57.34%+69.85% gross · 30h to break evenbooks $70.97K · $135.64K
LLINEA	Short	+10.51%	Orderly-55.70%	+56.82%+66.21% gross · 24h to break evenbooks $16.11K · $150
FFARTCOIN	Long	+10.51%	Backpack+78.96%	+55.93%+68.44% gross · 31h to break evenbooks $1.24M · $98.52K
SSUI	Long	+10.51%	Hibachi+74.46%	+54.56%+63.95% gross · 25h to break evenbooks $272.13K · $118.18K
AKAITO	Short	+10.51%	N1-51.68%	+54.38%+62.20% gross · 21h to break evenbooks $93.24K · $6.23K
AAPEX	Long	+10.51%	Hyperliquid+71.09%	+52.76%+60.58% gross · 22h to break evenbooks $93 · $241.19K
WWIF	Short	+10.51%	Extended-50.81%	+51.93%+61.32% gross · 26h to break evenbooks $257.29K · $73.34K
MMORPHO	Short	+10.51%	Aster-47.84%	+48.96%+58.35% gross · 27h to break evenbooks $81.62K · $143.74K
XXAG	Long	+3.50%	Hibachi+58.69%	+45.80%+55.19% gross · 29h to break evenbooks $6.21M · $6.13K
JJUP	Short	+10.51%	Variational-39.91%	+41.03%+50.42% gross · 31h to break evenbooks $362.74K · $339.59K
PPYTH	Long	+10.51%	Backpack+63.15%	+40.13%+52.64% gross · 40h to break evenbooks $50.49K · $82.09K
MMYX	Long	+10.51%	Bybit+57.70%	+37.28%+47.19% gross · 35h to break evenbooks $4.37K · $693.24K
EEIGEN	Short	+10.51%	N1-33.29%	+35.98%+43.80% gross · 30h to break evenbooks $17.94K · $241
SSOL	Short	+10.51%	Hibachi-34.16%	+35.29%+44.68% gross · 35h to break evenbooks $37.17M · $647.42K
AAAVE	Short	+10.51%	Ethereal-34.15%	+35.27%+44.66% gross · 35h to break evenbooks $2.39M · $4.99K
GGMX	Short	+10.51%	Variational-31.91%	+33.03%+42.42% gross · 37h to break evenbooks $6.04K · $38.69K
VVIRTUAL	Long	-30.66%	Extended+11.39%	+32.66%+42.05% gross · 38h to break evenbooks $247.00K · $765.53K
PPROVE	Short	-23.65%	Aster-63.06%	+30.02%+39.41% gross · 40h to break evenbooks $5.91K · $8.19K
XXPT	Long	+3.50%	Bitget+43.14%	+29.21%+39.64% gross · 44h to break evenbooks $987.63K · $2.02M
TTSLA	Long	+3.50%	Aster+40.72%	+27.82%+37.21% gross · 42h to break evenbooks $245.46K · $81.73K
MMON	Long	+10.51%	Backpack+49.66%	+26.63%+39.14% gross · 2.2d to break evenbooks $357.14K · $259.60K
WWLFI	Short	+10.51%	N1-22.78%	+25.47%+33.29% gross · 39h to break evenbooks $72.23K · $233
LLTC	Short	+10.51%	Bybit-24.85%	+25.46%+35.37% gross · 47h to break evenbooks $179.34K · $21.44M
CCRV	Short	+10.51%	Orderly-23.77%	+24.89%+34.28% gross · 46h to break evenbooks $201.20K · $1.52K
AAVNT	Short	+10.51%	Extended-23.65%	+24.77%+34.16% gross · 46h to break evenbooks $41.45K · $19.20K
PPOPCAT	Short	+10.51%	Variational-23.42%	+24.54%+33.93% gross · 46h to break evenbooks $5.29K · $3.44K
BBERA	Short	+10.51%	Orderly-21.40%	+22.52%+31.91% gross · 2.1d to break evenbooks $18.52K · $123.28K
EETHFI	Short	+10.51%	Orderly-21.36%	+22.48%+31.87% gross · 2.1d to break evenbooks $75.75K · $824
TTRUMP	Short	+5.26%	OKX-26.41%	+22.27%+31.66% gross · 2.1d to break evenbooks $214.57K · $23.73M
XXPL	Short	+10.51%	N1-18.40%	+21.09%+28.91% gross · 45h to break evenbooks $1.37M · $331
PPENGU	Short	+10.51%	Variational-18.63%	+19.76%+29.15% gross · 2.3d to break evenbooks $106.17K · $26.30K
AAXS	Short	+10.51%	OKX-17.63%	+18.75%+28.14% gross · 2.3d to break evenbooks $2.03K · $2.28M
AAMZN	Short	+3.50%	Nado-24.54%	+18.65%+28.04% gross · 2.3d to break evenbooks $108.80K · —
AARB	Short	+10.51%	Orderly-17.43%	+18.55%+27.94% gross · 2.4d to break evenbooks $567.67K · $26.46K
AASTER	Short	+10.51%	Orderly-17.14%	+18.26%+27.65% gross · 2.4d to break evenbooks $36.23K · $485.35K
WWTI	Short	+3.50%	Nado-23.45%	+17.56%+26.95% gross · 2.4d to break evenbooks $17.20M · —
HHBAR	Long	-17.52%	Bybit+8.04%	+15.65%+25.56% gross · 2.7d to break evenbooks $82.80K · $8.28M
WWLD	Short	+10.51%	Nado-14.20%	+15.32%+24.71% gross · 2.7d to break evenbooks $430.86K · —
AAZTEC	Long	-13.14%	Extended+11.39%	+15.14%+24.53% gross · 2.7d to break evenbooks $29.58K · $14.74K
CCOIN	Long	+3.50%	Binance+27.99%	+15.10%+24.49% gross · 2.7d to break evenbooks $121.84K · $50.63M
SSKR	Long	+22.78%	Backpack+50.13%	+14.84%+27.35% gross · 3.2d to break evenbooks $41.38K · $9.41K
AAAPL	Short	+3.50%	Nado-20.52%	+14.63%+24.02% gross · 2.7d to break evenbooks $158.76K · —
SSPX	Short	+10.51%	Orderly-12.86%	+13.98%+23.37% gross · 2.8d to break evenbooks $253.66K · $671
AADA	Long	-11.39%	Extended+11.39%	+13.39%+22.78% gross · 2.9d to break evenbooks $722.00K · $2.44M
AAVAX	Short	+6.13%	Extended-16.64%	+13.39%+22.78% gross · 2.9d to break evenbooks $236.45K · $605.74K
DDYDX	Short	+10.51%	Binance-11.41%	+12.54%+21.93% gross · 3.0d to break evenbooks $24.66K · $6.55M
PPAXG	Short	+10.51%	N1-9.64%	+12.33%+20.15% gross · 2.7d to break evenbooks $1.03M · $18.97K
TTRX	Short	-2.63%	Bybit-24.71%	+12.17%+22.08% gross · 3.1d to break evenbooks $791.84K · $9.27M
SSKY	Short	+10.51%	Nado-8.74%	+9.86%+19.25% gross · 3.4d to break evenbooks $31.42K · —
GGRASS	Short	+10.51%	Variational-8.64%	+9.77%+19.16% gross · 3.4d to break evenbooks $17.62K · $55.22K
IICP	Short	+10.51%	Variational-8.55%	+9.67%+19.06% gross · 3.4d to break evenbooks $293.05K · $50.53K
OONDO	Short	+10.51%	Nado-8.55%	+9.67%+19.06% gross · 3.4d to break evenbooks $123.97K · —
MMEGA	Short	+10.51%	Nado-8.51%	+9.63%+19.02% gross · 3.5d to break evenbooks $4.30K · —
NNVDA	Short	+3.50%	Nado-15.42%	+9.54%+18.93% gross · 3.5d to break evenbooks $757.58K · —
OOP	Short	+10.51%	Variational-7.96%	+9.08%+18.47% gross · 3.6d to break evenbooks $96.75K · $31.56K
BBNB	Long	+10.51%	Hibachi+28.91%	+9.01%+18.40% gross · 3.6d to break evenbooks $6.05M · $24.72K
RRIVER	Long	+19.27%	OKX+35.54%	+6.87%+16.26% gross · 4.0d to break evenbooks $2.17K · $4.83M
IINTC	Long	+3.50%	Nado+19.64%	+6.74%+16.13% gross · 4.1d to break evenbooks $689.74K · —
SSEI	Short	+10.51%	Orderly-4.87%	+6.00%+15.39% gross · 4.3d to break evenbooks $106.27K · $3.36K
UUNI	Short	+10.51%	Variational-4.40%	+5.52%+14.91% gross · 4.4d to break evenbooks $300.44K · $553.85K
DDOT	Short	+10.51%	Orderly-3.44%	+4.56%+13.95% gross · 4.7d to break evenbooks $77.05K · $67.32K
TTON	Short	+10.51%	Nado-1.66%	+2.78%+12.17% gross · 5.4d to break evenbooks $1.30M · —
XXCU	Long	+3.50%	Aster+15.08%	+2.18%+11.57% gross · 5.7d to break evenbooks $461.95K · $10.51K
SSYRUP	Long	+10.51%	Hyperliquid+20.29%	+1.96%+9.78% gross · 5.6d to break evenbooks $75.62K · $1.36M
TTAO	Short	+10.51%	Orderly-0.67%	+1.79%+11.18% gross · 5.9d to break evenbooks $860.42K · $29.89K
EEURUSD	Long	+0.00%	Pacifica+10.95%	+1.56%+10.95% gross · 6.0d to break evenbooks $3.30M · $123.56K
UUSDJPY	Long	+0.00%	Pacifica+10.95%	+1.56%+10.95% gross · 6.0d to break evenbooks $63.50K · $5.44K
PPENDLE	Short	+10.51%	Orderly-0.41%	+1.53%+10.92% gross · 6.0d to break evenbooks $42.29K · $400
XXLM	Short	+10.51%	Binance-0.10%	+1.22%+10.61% gross · 6.2d to break evenbooks $201.73K · $53.91M
XXMR	Long	+10.51%	Backpack+23.72%	+0.70%+13.21% gross · 6.6d to break evenbooks $1.15M · $286.79K
HHOOD	Short	+10.51%	Bitget+0.00%	+0.08%+10.51% gross · 6.9d to break evenbooks $974.43K · $2.57M
LLDO	Short	+10.51%	Extended+1.75%	-0.63%+8.76% gross · 7.5d to break evenbooks $172.98K · $78.75K
SSTBL	Long	+10.51%	Hyperliquid+16.88%	-1.45%+6.37% gross · 8.6d to break evenbooks $738 · $295.44K
ZZK	Short	+10.51%	Binance+2.67%	-1.55%+7.84% gross · 8.4d to break evenbooks $5.64K · $3.90M
AAMD	Long	+3.50%	Nado+11.20%	-1.69%+7.70% gross · 8.5d to break evenbooks $896.25K · —
GGOOGL	Long	+3.50%	Orderly+10.95%	-1.94%+7.45% gross · 8.8d to break evenbooks $128.78K · $2.11K
PPLTR	Long	+3.50%	Pacifica+10.95%	-1.94%+7.45% gross · 8.8d to break evenbooks $156.40K · $15.38K
SSTRK	Short	+10.51%	Backpack+0.41%	-2.40%+10.11% gross · 8.7d to break evenbooks $19.67K · $41.11K
DDOLO	Short	+10.51%	Aster+3.85%	-2.73%+6.66% gross · 9.9d to break evenbooks $2.18K · $2.62K
MMSTR	Long	+3.50%	Pacifica+9.94%	-2.95%+6.44% gross · 10.2d to break evenbooks $998.71K · $106.97K
SSPY	Long	+3.50%	Binance+8.54%	-4.35%+5.04% gross · 13.0d to break evenbooks $430.11K · $45.42M
QQQQ	Short	+3.50%	Nado-1.33%	-4.56%+4.83% gross · 13.6d to break evenbooks $884.70K · —
MMSFT	Long	+3.50%	Nado+7.18%	-5.71%+3.68% gross · 17.9d to break evenbooks $231.71K · —
DDASH	Short	+10.51%	Orderly+6.88%	-5.76%+3.63% gross · 18.1d to break evenbooks $7.38K · $86
BBMNR	Short	+3.50%	Aster+0.00%	-5.89%+3.50% gross · 18.8d to break evenbooks $24.71K · $42.79K
MMETA	Short	+3.50%	Aster+0.00%	-5.89%+3.50% gross · 18.8d to break evenbooks $689.57K · $41.08K
XXPD	Short	+3.50%	Aster+0.00%	-5.89%+3.50% gross · 18.8d to break evenbooks $11.07K · $17.78K
DDOGE	Short	+10.51%	Kalshi+0.00%	-6.18%+10.51% gross · 11.1d to break evenbooks $230.33K · $50.74M
LLINK	Short	+10.51%	Kalshi+0.00%	-6.18%+10.51% gross · 11.1d to break evenbooks $272.98K · $1.88M
GGBPUSD	Long	+0.00%	Nado+2.09%	-7.30%+2.09% gross · 31.4d to break evenbooks $33.79K · —
AAERO	Long	+10.51%	Extended+11.39%	-8.51%+0.88% gross · 75.0d to break evenbooks $175.69K · $74.32K
MMNT	Long	+10.51%	Extended+11.39%	-8.51%+0.88% gross · 75.0d to break evenbooks $27.33K · $250
VVVV	Long	+10.51%	Extended+11.39%	-8.51%+0.88% gross · 75.0d to break evenbooks $369.85K · $516.90K
ZZORA	Long	+10.51%	Extended+11.39%	-8.51%+0.88% gross · 75.0d to break evenbooks $2.13K · $11.09K
CCC	Long	+10.51%	Aster+10.95%	-8.95%+0.44% gross · 150.0d to break evenbooks $40.97K · $52.80K
EEDEN	Long	+10.51%	Aster+10.95%	-8.95%+0.44% gross · 150.0d to break evenbooks $1.09K · $34.82K
FFF	Long	+10.51%	Aster+10.95%	-8.95%+0.44% gross · 150.0d to break evenbooks $3.34K · $3.33K
FFIL	Long	+10.51%	Aster+10.95%	-8.95%+0.44% gross · 150.0d to break evenbooks $87.18K · $47.22K
NNMR	Long	+10.51%	Binance+10.95%	-8.95%+0.44% gross · 150.0d to break evenbooks $8.88K · $2.64M
RRESOLV	Long	+10.51%	Aster+10.95%	-8.95%+0.44% gross · 150.0d to break evenbooks $2.35K · $41.42K
CCRO	Long	+10.51%	Bitget+10.95%	-9.99%+0.44% gross · 166.7d to break evenbooks $1.33K · $304.07K

A pair counts as tradable when both legs did more than $1.00Mof volume in the last 24 hours: a wide spread across two thin books is arithmetic, not a trade. Rates are annualized and 8h-normalized, so an hourly venue and an 8-hour one are directly comparable. Net APR can be negative — the fees have eaten the spread — and those pairs are shown greyed rather than hidden, because “not worth it” is an answer. Funding is a floating rate: it can flip before it has paid you back.

The book

Every market on Lighter

All 129 perpetuals Lighter quotes, with the funding rate each one is paying right now.

Every perpetual market on Lighter, with its mark price, annualized funding rate, funding interval, 24-hour volume and open interest.

BBTC	$64,660.6	+4.38%	1h	$805.56M	$7234.14B
EETH	$1,870.43	+10.51%	1h	$487.59M	$168.93B
XXAU	$4,042.24	+3.50%	1h	$57.78M	$41.98B
SSOL	$77.62	+10.51%	1h	$37.17M	$1.20B
HHYPE	$65.05	+10.51%	1h	$33.09M	$872.33M
ZZEC	$555.01	+10.51%	1h	$19.93M	$3.01B
WWTI	$79.25	+3.50%	1h	$17.20M	$253.92M
LLIT	$2.60	+10.51%	1h	$15.08M	$148.11M
XXAG	$58.57	+3.50%	1h	$6.21M	$220.47M
BBNB	$580.00	+10.51%	1h	$6.05M	$1.75B
SSNDK	$1,771.12	+3.50%	1h	$5.62M	$1.88B
EEURUSD	$1.14	+0.00%	1h	$3.30M	$4.97M
AAAVE	$98.72	+10.51%	1h	$2.39M	$489.23M
XXRP	$1.10	+10.51%	1h	$2.08M	$6.34M
NNEAR	$2.01	+10.51%	1h	$1.53M	$1.29M
EENA	$0.0835	+10.51%	1h	$1.52M	$230.96K
PPUMP	$0.001627	+10.51%	1h	$1.51M	$2.60K
XXPL	$0.0937	+10.51%	1h	$1.37M	$121.70K
TTON	$1.61	+10.51%	1h	$1.30M	$3.42M
FFARTCOIN	$0.1511	+10.51%	1h	$1.24M	$85.54K
XXMR	$332.30	+10.51%	1h	$1.15M	$385.33M
PPAXG	$4,032.33	+10.51%	1h	$1.03M	$13.21B
MMSTR	$97.90	+3.50%	1h	$998.71K	$173.50M
XXPT	$1,634.4	+3.50%	1h	$987.63K	$868.11M
HHOOD	$113.63	+10.51%	1h	$974.43K	$139.74M
CCRCL	$63.34	+87.60%	1h	$909.69K	$91.57M
AAMD	$551.72	+3.50%	1h	$896.25K	$244.70M
QQQQ	$723.00	+3.50%	1h	$884.70K	$1.22B
TTAO	$199.12	+10.51%	1h	$860.42K	$153.00M
TTRX	$0.3255	-2.63%	1h	$791.84K	$319.51K
NNVDA	$212.04	+3.50%	1h	$757.58K	$362.65M
AADA	$0.1638	-11.39%	1h	$722.00K	$671.30K
IINTC	$109.70	+3.50%	1h	$689.74K	$91.97M
MMETA	$660.61	+3.50%	1h	$689.57K	$442.19M
AAPT	$0.6242	+10.51%	1h	$578.99K	$714.63K
AARB	$0.0921	+10.51%	1h	$567.67K	$81.08K
XXCU	$6.38	+3.50%	1h	$461.95K	$2.48M
WWLD	$0.4153	+10.51%	1h	$430.86K	$1.58M
SSPY	$753.41	+3.50%	1h	$430.11K	$1.28B
VVVV	$11.04	+10.51%	1h	$369.85K	$9.69M
JJUP	$0.2103	+10.51%	1h	$362.74K	$170.84K
MMON	$0.0226	+10.51%	1h	$357.14K	$13.36K
UUNI	$3.66	+10.51%	1h	$300.44K	$2.89M
IICP	$2.20	+10.51%	1h	$293.05K	$325.95K
LLINK	$8.32	+10.51%	1h	$272.98K	$12.54M
SSUI	$0.7583	+10.51%	1h	$272.13K	$599.50K
WWIF	$0.1561	+10.51%	1h	$257.29K	$20.29K
SSPX	$0.3790	+10.51%	1h	$253.66K	$65.49K
ZZRO	$0.8643	+10.51%	1h	$253.32K	$1.53M
VVIRTUAL	$0.5824	-30.66%	1h	$247.00K	$285.66K
TTSLA	$397.24	+3.50%	1h	$245.46K	$301.05M
PPOL	$0.0846	+10.51%	1h	$238.91K	$40.19K
AAVAX	$6.66	+6.13%	1h	$236.45K	$8.05M
MMSFT	$386.24	+3.50%	1h	$231.71K	$286.27M
DDOGE	$0.0739	+10.51%	1h	$230.33K	$58.57K
TTRUMP	$1.57	+5.26%	1h	$214.57K	$1.14M
XXLM	$0.1838	+10.51%	1h	$201.73K	$48.93K
CCRV	$0.2229	+10.51%	1h	$201.20K	$49.47K
TTIA	$0.4123	+10.51%	1h	$193.52K	$126.99K
LLTC	$44.97	+10.51%	1h	$179.34K	$49.91M
AAERO	$0.5058	+10.51%	1h	$175.69K	$235.46K
LLDO	$0.3265	+10.51%	1h	$172.98K	$227.96K
UUSELESS	$0.0859	+228.64%	1h	$166.42K	$137.37K
BBCH	$233.57	+2.63%	1h	$164.83K	$104.09M
AAAPL	$314.78	+3.50%	1h	$158.76K	$266.86M
PPLTR	$133.29	+3.50%	1h	$156.40K	$63.38M
GGOOGL	$359.67	+3.50%	1h	$128.78K	$447.76M
OONDO	$0.3179	+10.51%	1h	$123.97K	$89.07K
CCOIN	$162.06	+3.50%	1h	$121.84K	$125.90M
AAMZN	$247.89	+3.50%	1h	$108.80K	$273.92M
SSEI	$0.0484	+10.51%	1h	$106.27K	$7.26K
PPENGU	$0.006026	+10.51%	1h	$106.17K	$2.42K
JJTO	$0.6499	+10.51%	1h	$103.38K	$101.22K
OOP	$0.1017	+10.51%	1h	$96.75K	$26.10K
AKAITO	$0.7771	+10.51%	1h	$93.24K	$144.14K
FFIL	$0.7843	+10.51%	1h	$87.18K	$120.90K
HHBAR	$0.0672	-17.52%	1h	$82.80K	$23.88K
MMORPHO	$2.02	+10.51%	1h	$81.62K	$598.15K
DDOT	$0.8573	+10.51%	1h	$77.05K	$87.18K
EETHFI	$0.3944	+10.51%	1h	$75.75K	$139.84K
SSYRUP	$0.1902	+10.51%	1h	$75.62K	$17.03K
WWLFI	$0.0573	+10.51%	1h	$72.23K	$69.60K
MMET	$0.1597	+10.51%	1h	$70.97K	$27.37K
UUSDJPY	$161.98	+0.00%	1h	$63.50K	$118.74M
NNZDUSD	$0.5826	+0.00%	1h	$52.32K	$84.81K
PPYTH	$0.0483	+10.51%	1h	$50.49K	$8.51K
UUSDCAD	$1.40	+0.00%	1h	$50.11K	$85.14K
PPENDLE	$1.55	+10.51%	1h	$42.29K	$403.00K
AAVNT	$0.0935	+10.51%	1h	$41.45K	$1.96K
SSKR	$0.009205	+22.78%	1h	$41.38K	$441
CCC	$0.1397	+10.51%	1h	$40.97K	$36.90K
AASTER	$0.6289	+10.51%	1h	$36.23K	$586.97K
AARC	$0.0808	+10.51%	1h	$34.91K	$7.63K
GGBPUSD	$1.34	+0.00%	1h	$33.79K	$183.31K
SSKY	$0.0612	+10.51%	1h	$31.42K	$8.08K
AAZTEC	$0.0140	-13.14%	1h	$29.58K	$569
MMNT	$0.4201	+10.51%	1h	$27.33K	$47.20K
FFOGO	$0.009625	-3.50%	1h	$27.33K	$82
BBMNR	$16.25	+3.50%	1h	$24.71K	$955.98K
DDYDX	$0.1214	+10.51%	1h	$24.66K	$34.17K
UUSDCHF	$0.8080	+0.00%	1h	$23.91K	$427.34K
SSTRK	$0.0291	+10.51%	1h	$19.67K	$1.70K
BBERA	$0.1864	+10.51%	1h	$18.52K	$8.50K
EEIGEN	$0.2435	+10.51%	1h	$17.94K	$42.19K
GGRASS	$0.3935	+10.51%	1h	$17.62K	$120.12K
LLINEA	$0.002492	+10.51%	1h	$16.11K	$205
XXPD	$1,303.9	+3.50%	1h	$11.07K	$726.81M
NNMR	$10.17	+10.51%	1h	$8.88K	$592.11K
DDASH	$34.33	+10.51%	1h	$7.38K	$635.38K
SSTABLE	$0.0374	-84.97%	1h	$7.21K	$5.37K
GGMX	$5.88	+10.51%	1h	$6.04K	$344.14K
PPROVE	$0.2013	-23.65%	1h	$5.91K	$11.99K
ZZK	$0.0104	+10.51%	1h	$5.64K	$202
PPOPCAT	$0.0459	+10.51%	1h	$5.29K	$4.47K
MMYX	$0.0717	+10.51%	1h	$4.37K	$1.58K
MMEGA	$0.0486	+10.51%	1h	$4.30K	$6.52K
FFF	$0.0649	+10.51%	1h	$3.34K	$4.06K
AAUDUSD	$0.6978	+0.00%	1h	$2.77K	$10.87K
UUSDKRW	$1,491.35	+0.00%	1h	$2.49K	$1.43B
RRESOLV	$0.0186	+10.51%	1h	$2.35K	$481
DDOLO	$0.0223	+10.51%	1h	$2.18K	$159
RRIVER	$3.34	+19.27%	1h	$2.17K	$244.89K
ZZORA	$0.006602	+10.51%	1h	$2.13K	$226
AAXS	$0.9983	+10.51%	1h	$2.03K	$10.29K
SS	$0.0255	+10.51%	1h	$1.39K	$1.97K
CCRO	$0.0555	+10.51%	1h	$1.33K	$866
EEDEN	$0.0431	+10.51%	1h	$1.09K	$1.06K
SSTBL	$0.0229	+10.51%	1h	$738	$1.34K
AAPEX	$0.2735	+10.51%	1h	$93	$11.45K

The evidence

How much size Lighter can absorb

Volume says how much trades here; open interest says how much is actually held. Neither is the reason to put a leg on this venue — the pairs above are — but both decide whether the leg you want will fill.

Each point is the rolling 24-hour figure as of that hour.

FAQ

Lighter, answered

What is the funding rate on Lighter?: There is no single rate — every market has its own, and it moves every funding period. Across all 129 perpetual markets on Lighter right now, the average annualized funding is +8.83%, which means the venue as a whole is currently charging longs to hold. Ignoring the direction, the average market pays or charges 11.73% annualized, and that is roughly what being on the right side of it is worth. The live rate for every individual market is in the table on this page.
How often does Lighter pay funding?: Lighter settles funding hourly, though it does not publish a schedule for the next settlement, so no countdown is shown on this page rather than a guessed one. The interval matters more than it looks: a rate quoted per hour and a rate quoted per eight hours are not comparable until they are put on the same basis, so every figure on this site is normalized to an 8-hour basis before it is compared or ranked.
What are Lighter's trading fees?: Lighter charges 0.040% to take liquidity and 0.010% to make it. These are the fees used in every net-APR figure on this page: a funding trade pays the taker fee four times (in and out of both legs), which is exactly why a wide spread held briefly can still lose money.
How many markets does Lighter list?: We collect 129 perpetual markets from Lighter. All of them report 24-hour volume. Every one is listed with its mark price, funding rate and funding interval in the book on this page.
Which exchange pairs best with Lighter for funding arbitrage?: Right now, Binance: going long on SNDK on Lighter against the opposite leg on Binance opens a gross funding spread of +57.44% annualized, which is +48.05% after both venues' taker fees. That is one snapshot of a rate that floats — 9 of Lighter's markets currently have a counterparty on a book deep enough to trade, and all of them are ranked on this page.
Is Lighter good for funding arbitrage?: As one leg, yes: 9 of Lighter's 129 markets have a counterparty on another venue where both books cleared $1.00M in the last 24 hours, and its 0.040% taker fee is charged twice in a round trip on this leg. What decides the trade is the OTHER venue — the spread is the distance between two funding rates, so a venue is never good or bad on its own. The pairs above name the counterparty for each market.