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 125 perpetual markets on Lighter right now, the average annualized funding is +0.37%, which means the venue as a whole is currently charging longs to hold. Ignoring the direction, the average market pays or charges 16.92% 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 125 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, Backpack: shorting TRUMP on Lighter against the opposite leg on Backpack opens a gross funding spread of +76.92% annualized, which is +64.41% after both venues' taker fees. That is one snapshot of a rate that floats — 11 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: 11 of Lighter's 125 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 125 perpetual markets and settles funding hourly, at 0.040% taker / 0.010% maker. 11 of those markets have a counterparty on another venue with a book deep enough to trade against. The widest right now is short TRUMP here against Backpack, paying +64.41% 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

11both 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
TTRUMP	Short	+6.13%	Backpack-70.79%	+64.41%+76.92% gross · 27h to break evenbooks $6.93M · $3.83M
HHYPE	Short	-4.38%	Backpack-81.15%	+64.26%+76.77% gross · 27h to break evenbooks $82.80M · $25.19M
SSOL	Short	+10.51%	Hibachi-50.81%	+51.93%+61.32% gross · 26h to break evenbooks $88.00M · $1.38M
WWTI	Short	+3.50%	Extended-43.80%	+37.91%+47.30% gross · 33h to break evenbooks $3.38M · $6.40M
XXAU	Long	+3.50%	Polymarket+29.07%	+19.30%+25.56% gross · 41h to break evenbooks $52.59M · $23.83M

Show the 6 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
LLIT	Long	+10.51%	Aster+36.42%	+16.52%+25.91% gross · 2.5d to break evenbooks $20.75M · $3.71M
ZZEC	Long	+10.51%	RiseX+35.67%	+15.77%+25.16% gross · 2.6d to break evenbooks $12.39M · $1.23M
BBNB	Short	+10.51%	Backpack-15.64%	+13.64%+26.15% gross · 3.4d to break evenbooks $1.38M · $1.51M
EETH	Long	+5.26%	Orderly+20.24%	+5.59%+14.98% gross · 4.4d to break evenbooks $297.36M · $21.46M
BBTC	Short	+10.51%	N1+0.00%	+2.69%+10.51% gross · 5.2d to break evenbooks $649.29M · $1.58M
SSTRC	Long	+0.00%	Hyperliquid+5.48%	-2.34%+5.48% gross · 10.0d to break evenbooks $1.43M · $2.26M

Show the 113 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
JJUP	Long	+10.51%	N1+588.67%	+570.34%+578.16% gross · 2.3h to break evenbooks $370.30K · $4.40K
SS	Short	-50.81%	N1-610.57%	+551.94%+559.76% gross · 2.4h to break evenbooks $8.26K · $1.87K
SSKR	Long	-572.03%	Binance-231.06%	+331.58%+340.97% gross · 4.6h to break evenbooks $96.17K · $30.02M
SSTABLE	Long	+133.15%	Backpack+343.87%	+198.21%+210.72% gross · 10.0h to break evenbooks $74.74K · $11.10K
JJTO	Long	+10.51%	Backpack+121.92%	+98.90%+111.41% gross · 19h to break evenbooks $360.72K · $75.49K

Show the 108 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
AAERO	Short	+10.51%	N1-92.86%	+95.55%+103.37% gross · 13h to break evenbooks $297.29K · $405
GGMX	Long	-94.61%	Bitget+10.95%	+95.13%+105.56% gross · 17h to break evenbooks $11.45K · $110.47K
MMORPHO	Short	+10.51%	N1-88.48%	+91.17%+98.99% gross · 13h to break evenbooks $115.24K · $864
SSTRK	Short	+9.64%	Backpack-90.52%	+87.65%+100.16% gross · 21h to break evenbooks $28.52K · $7.03K
AAXS	Long	-82.34%	Extended+11.39%	+84.34%+93.73% gross · 17h to break evenbooks $10.69K · $157.00K
PPYTH	Short	+10.51%	Backpack-80.06%	+78.06%+90.57% gross · 23h to break evenbooks $29.12K · $88.39K
FFARTCOIN	Long	+28.91%	N1+111.25%	+74.52%+82.34% gross · 16h to break evenbooks $756.18K · $1.67K
XXMR	Long	+10.51%	Orderly+89.16%	+69.26%+78.65% gross · 20h to break evenbooks $3.36M · $86.79K
AKAITO	Long	+10.51%	N1+84.97%	+66.64%+74.46% gross · 18h to break evenbooks $106.49K · $161
WWLFI	Short	+7.01%	Backpack-71.89%	+66.39%+78.90% gross · 27h to break evenbooks $397.39K · $66.81K
CCOIN	Short	-3.50%	Polymarket-75.34%	+65.58%+71.84% gross · 15h to break evenbooks $684.27K · $4.95M
SSUI	Short	+10.51%	Hibachi-63.95%	+65.07%+74.46% gross · 21h to break evenbooks $1.04M · $45.79K
XXRP	Short	+10.51%	Hibachi-61.32%	+62.44%+71.83% gross · 22h to break evenbooks $5.06M · $286.75K
CCRCL	Short	+3.50%	Hyperliquid-64.24%	+59.93%+67.75% gross · 19h to break evenbooks $878.38K · $59.29M
DDOGE	Short	+7.88%	Polymarket-56.98%	+58.60%+64.86% gross · 16h to break evenbooks $340.68K · $1.29M
NNEAR	Short	+10.51%	Extended-56.06%	+57.19%+66.58% gross · 24h to break evenbooks $849.97K · $3.39M
FFOGO	Long	+10.51%	Aster+70.80%	+50.90%+60.29% gross · 26h to break evenbooks $81.03K · $28.98K
PPENGU	Short	+10.51%	Variational-43.60%	+44.72%+54.11% gross · 29h to break evenbooks $175.47K · $816.57K
OOP	Long	-41.17%	Aster+10.95%	+42.73%+52.12% gross · 30h to break evenbooks $252.29K · $80.47K
TTON	Short	+10.51%	Backpack-43.98%	+41.98%+54.49% gross · 39h to break evenbooks $872.55K · $4.52K
OONDO	Short	+10.51%	N1-38.54%	+41.24%+49.06% gross · 27h to break evenbooks $453.48K · $1.60K
WWLD	Short	+10.51%	N1-38.54%	+41.24%+49.06% gross · 27h to break evenbooks $332.94K · $303
EETHFI	Short	+10.51%	Aster-37.78%	+38.90%+48.29% gross · 33h to break evenbooks $216.17K · $97.07K
AADA	Short	-2.63%	Polymarket-46.58%	+37.69%+43.95% gross · 24h to break evenbooks $265.53K · $1.45M
EENA	Short	+10.51%	N1-34.16%	+36.86%+44.68% gross · 29h to break evenbooks $7.78M · $1.63K
MMON	Short	+10.51%	N1-33.29%	+35.98%+43.80% gross · 30h to break evenbooks $596.80K · $24.26K
TTIA	Short	+7.88%	Backpack-39.96%	+35.33%+47.84% gross · 44h to break evenbooks $175.51K · $46.40K
AAMZN	Long	+6.13%	Polymarket+46.82%	+34.43%+40.69% gross · 26h to break evenbooks $416.20K · $2.71M
ZZORA	Short	+10.51%	Backpack-36.25%	+34.25%+46.76% gross · 45h to break evenbooks $36.30K · $198.60K
MMYX	Short	+54.31%	Aster+10.95%	+33.97%+43.36% gross · 36h to break evenbooks $3.63K · $15.80K
TTAO	Long	+10.51%	RiseX+53.32%	+33.42%+42.81% gross · 37h to break evenbooks $912.15K · $279.38K
AARC	Long	+10.51%	Aster+52.53%	+32.63%+42.02% gross · 38h to break evenbooks $7.88K · $4.37K
AAPT	Long	-30.66%	Aster+10.95%	+32.22%+41.61% gross · 38h to break evenbooks $445.64K · $72.52K
RRIVER	Long	+22.78%	Binance+63.74%	+31.57%+40.96% gross · 38h to break evenbooks $62.76K · $22.46M
AAZTEC	Long	+10.51%	Hyperliquid+48.99%	+30.66%+38.48% gross · 34h to break evenbooks $376.98K · $136.02K
HHBAR	Long	-28.03%	Extended+11.39%	+30.03%+39.42% gross · 40h to break evenbooks $92.79K · $457.53K
EEIGEN	Short	+10.51%	N1-26.28%	+28.97%+36.79% gross · 36h to break evenbooks $12.08K · $124
AAPEX	Long	+10.51%	Hyperliquid+46.01%	+27.68%+35.50% gross · 37h to break evenbooks $12.10K · $192.94K
XXPL	Short	+10.51%	N1-24.53%	+27.22%+35.04% gross · 38h to break evenbooks $762.49K · $18
AASTER	Long	+7.01%	Aster+42.04%	+25.64%+35.03% gross · 45h to break evenbooks $701.29K · $49.01M
EEURUSD	Short	+0.00%	Orderly-34.46%	+25.07%+34.46% gross · 46h to break evenbooks $246.92K · $3.13M
FFIL	Short	+10.51%	Bitget-24.75%	+24.83%+35.26% gross · 2.1d to break evenbooks $82.40K · $9.34M
AAVAX	Short	+10.51%	Backpack-26.51%	+24.51%+37.02% gross · 2.4d to break evenbooks $231.01K · $148.01K
XXLM	Short	+10.51%	Extended-21.90%	+23.02%+32.41% gross · 2.0d to break evenbooks $76.75K · $57.83K
ZZRO	Short	+27.16%	Orderly-5.11%	+22.88%+32.27% gross · 2.0d to break evenbooks $285.69K · $31.52K
VVVV	Short	+10.51%	Kalshi-28.03%	+21.85%+38.54% gross · 3.0d to break evenbooks $1.10M · $819.23K
QQQQ	Short	+3.50%	Nado-26.46%	+20.58%+29.97% gross · 2.2d to break evenbooks $3.40M · —
TTRX	Long	-18.40%	Aster+10.95%	+19.96%+29.35% gross · 2.2d to break evenbooks $217.08K · $311.26K
MMNT	Long	-17.52%	Extended+11.39%	+19.52%+28.91% gross · 2.3d to break evenbooks $87.23K · $167
DDOT	Short	+9.64%	Backpack-20.75%	+17.88%+30.39% gross · 2.9d to break evenbooks $121.61K · $79.05K
CCRV	Short	-12.26%	Variational-39.10%	+17.45%+26.84% gross · 2.4d to break evenbooks $197.67K · $152.44K
SSEI	Short	+10.51%	Backpack-19.40%	+17.40%+29.91% gross · 2.9d to break evenbooks $101.84K · $64.74K
SSNDK	Short	+3.50%	Nado-22.35%	+16.47%+25.86% gross · 2.5d to break evenbooks $16.54M · —
BBCH	Short	+10.51%	Variational-15.34%	+16.46%+25.85% gross · 2.5d to break evenbooks $153.70K · $106.67K
PPOL	Long	-14.89%	Bybit+10.95%	+15.93%+25.84% gross · 2.7d to break evenbooks $327.76K · $5.42M
PPAXG	Long	-14.02%	Aster+10.95%	+15.58%+24.97% gross · 2.6d to break evenbooks $1.36M · $775.55K
VVIRTUAL	Long	-14.89%	Bitget+10.95%	+15.41%+25.84% gross · 2.8d to break evenbooks $356.97K · $3.57M
MMSTR	Long	-9.64%	Nado+14.87%	+15.12%+24.51% gross · 2.7d to break evenbooks $875.84K · —
CCC	Short	+10.51%	Backpack-16.22%	+14.23%+26.74% gross · 3.3d to break evenbooks $66.10K · $30.11K
UUNI	Short	+10.51%	Variational-12.47%	+13.59%+22.98% gross · 2.9d to break evenbooks $1.87M · $472.87K
GGRASS	Short	+10.51%	Variational-12.27%	+13.39%+22.78% gross · 2.9d to break evenbooks $97.37K · $97.43K
MMEGA	Short	+10.51%	Nado-11.02%	+12.14%+21.53% gross · 3.1d to break evenbooks $11.56K · —
PPUMP	Short	+10.51%	N1-8.76%	+11.45%+19.27% gross · 2.8d to break evenbooks $2.60M · $5.48K
AARB	Long	-8.76%	Aster+10.95%	+10.32%+19.71% gross · 3.3d to break evenbooks $373.69K · $58.08K
LLTC	Long	-8.76%	Aster+10.95%	+10.32%+19.71% gross · 3.3d to break evenbooks $216.88K · $416.98K
GGOOGL	Long	+3.50%	Nado+22.00%	+9.10%+18.49% gross · 3.6d to break evenbooks $392.01K · —
AAAPL	Short	+3.50%	Nado-13.83%	+7.94%+17.33% gross · 3.8d to break evenbooks $949.76K · —
BBERA	Long	+10.51%	N1+25.40%	+7.07%+14.89% gross · 3.7d to break evenbooks $18.31K · $48
LLINEA	Short	+10.51%	Bybit-6.39%	+7.00%+16.91% gross · 4.1d to break evenbooks $26.79K · $443.35K
ZZK	Long	-5.26%	Binance+10.95%	+6.82%+16.21% gross · 4.1d to break evenbooks $22.71K · $3.59M
IINTC	Long	+3.50%	Hyperliquid+17.65%	+6.33%+14.15% gross · 3.9d to break evenbooks $481.84K · $16.08M
TTSLA	Long	+3.50%	Nado+18.78%	+5.89%+15.28% gross · 4.3d to break evenbooks $544.56K · —
PPROVE	Short	+10.51%	Bitget-5.69%	+5.78%+16.21% gross · 4.5d to break evenbooks $240 · $81.98K
AAAVE	Short	+10.51%	N1-2.63%	+5.32%+13.14% gross · 4.2d to break evenbooks $444.65K · $1
NNVDA	Long	+3.50%	Nado+17.86%	+4.96%+14.35% gross · 4.6d to break evenbooks $3.54M · —
UUSDJPY	Long	+0.00%	Pacifica+10.95%	+1.56%+10.95% gross · 6.0d to break evenbooks $55.18K · $94.63K
XXPT	Long	+3.50%	Paradex+13.91%	+1.01%+10.40% gross · 6.3d to break evenbooks $122.71K · $3.02K
MMSFT	Short	+3.50%	Nado-6.62%	+0.74%+10.13% gross · 6.5d to break evenbooks $140.75K · —
AAMD	Long	+3.50%	Nado+13.41%	+0.52%+9.91% gross · 6.6d to break evenbooks $361.02K · —
LLINK	Short	+8.76%	Backpack-4.08%	+0.33%+12.84% gross · 6.8d to break evenbooks $711.42K · $213.25K
DDYDX	Long	+1.75%	Extended+11.39%	+0.25%+9.64% gross · 6.8d to break evenbooks $21.64K · $152.45K
PPOPCAT	Long	+1.75%	Extended+11.39%	+0.25%+9.64% gross · 6.8d to break evenbooks $59.65K · $85.26K
SSKY	Short	+10.51%	Nado+2.41%	-1.29%+8.10% gross · 8.1d to break evenbooks $15.46K · —
HHOOD	Long	+3.50%	Pacifica+10.95%	-1.94%+7.45% gross · 8.8d to break evenbooks $322.44K · $27.37K
PPLTR	Long	+3.50%	Pacifica+10.95%	-1.94%+7.45% gross · 8.8d to break evenbooks $72.47K · $10.28K
XXAG	Long	+3.50%	Orderly+10.95%	-1.94%+7.45% gross · 8.8d to break evenbooks $9.36M · $58.57K
LLDO	Short	+10.51%	Binance+3.12%	-2.00%+7.39% gross · 8.9d to break evenbooks $216.49K · $15.60M
SSPY	Short	+3.50%	Nado-3.80%	-2.09%+7.30% gross · 9.0d to break evenbooks $5.14M · —
SSPX	Long	+10.51%	Orderly+16.48%	-3.43%+5.96% gross · 11.0d to break evenbooks $186.79K · $736
IICP	Short	+10.51%	Variational+5.03%	-3.91%+5.48% gross · 12.0d to break evenbooks $156.37K · $33.93K
MMETA	Long	+3.50%	Nado+8.69%	-4.21%+5.18% gross · 12.7d to break evenbooks $418.60K · —
BBMNR	Short	+3.50%	Aster+0.00%	-5.89%+3.50% gross · 18.8d to break evenbooks $211.64K · $14.30K
XXCU	Short	+3.50%	Aster+0.00%	-5.89%+3.50% gross · 18.8d to break evenbooks $66.69K · $68.94K
XXPD	Short	+3.50%	Aster+0.00%	-5.89%+3.50% gross · 18.8d to break evenbooks $604.61K · $52.95K
AAVNT	Long	+10.51%	Extended+11.39%	-8.51%+0.88% gross · 75.0d to break evenbooks $16.19K · $111.75K
DDASH	Long	+10.51%	Extended+11.39%	-8.51%+0.88% gross · 75.0d to break evenbooks $48.84K · $328.35K
PPENDLE	Long	+10.51%	Extended+11.39%	-8.51%+0.88% gross · 75.0d to break evenbooks $153.23K · $51.54K
UUSELESS	Long	+10.51%	Extended+11.39%	-8.51%+0.88% gross · 75.0d to break evenbooks $99.35K · $241.80K
WWIF	Long	+10.51%	Extended+11.39%	-8.51%+0.88% gross · 75.0d to break evenbooks $379.32K · $233.41K
DDOLO	Long	+10.51%	Aster+10.95%	-8.95%+0.44% gross · 150.0d to break evenbooks $4.98K · $419
EEDEN	Long	+10.51%	Aster+10.95%	-8.95%+0.44% gross · 150.0d to break evenbooks $18.13K · $103.16K
FFF	Long	+10.51%	Aster+10.95%	-8.95%+0.44% gross · 150.0d to break evenbooks $7.40K · $15.94K
MMET	Long	+10.51%	Aster+10.95%	-8.95%+0.44% gross · 150.0d to break evenbooks $86.87K · $49.79K
NNMR	Long	+10.51%	Binance+10.95%	-8.95%+0.44% gross · 150.0d to break evenbooks $13.34K · $2.02M
RRESOLV	Long	+10.51%	Aster+10.95%	-8.95%+0.44% gross · 150.0d to break evenbooks $5.13K · $106
SSTBL	Long	+10.51%	Aster+10.95%	-8.95%+0.44% gross · 150.0d to break evenbooks $10.69K · $4.46K
SSYRUP	Long	+10.51%	Aster+10.95%	-8.95%+0.44% gross · 150.0d to break evenbooks $90.27K · $11.40K
CCRO	Long	+10.51%	Bitget+10.95%	-9.99%+0.44% gross · 166.7d to break evenbooks $11.46K · $547.47K

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 125 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	$77,452.7	+10.51%	1h	$649.29M	$148.04M
EETH	$2,433.82	+5.26%	1h	$297.36M	$127.21M
SSOL	$103.56	+10.51%	1h	$88.00M	$14.15M
HHYPE	$81.46	-4.38%	1h	$82.80M	$17.80M
XXAU	$4,466.04	+3.50%	1h	$52.59M	$14.83M
LLIT	$3.40	+10.51%	1h	$20.75M	$67.20M
SSNDK	$1,490.18	+3.50%	1h	$16.54M	$1.33M
ZZEC	$796.53	+10.51%	1h	$12.39M	$12.24M
XXAG	$66.54	+3.50%	1h	$9.36M	$5.37M
EENA	$0.1611	+10.51%	1h	$7.78M	$2.39M
TTRUMP	$2.77	+6.13%	1h	$6.93M	$1.38M
SSPY	$770.31	+3.50%	1h	$5.14M	$4.51M
XXRP	$1.38	+10.51%	1h	$5.06M	$2.08M
NNVDA	$218.75	+3.50%	1h	$3.54M	$1.39M
QQQQ	$717.93	+3.50%	1h	$3.40M	$2.21M
WWTI	$83.09	+3.50%	1h	$3.38M	$4.09M
XXMR	$466.80	+10.51%	1h	$3.36M	$1.96M
PPUMP	$0.004625	+10.51%	1h	$2.60M	$3.85M
UUNI	$4.42	+10.51%	1h	$1.87M	$1.60M
SSTRC	$97.32	+0.00%	1h	$1.43M	$1.00M
BBNB	$687.50	+10.51%	1h	$1.38M	$1.84M
PPAXG	$4,454.46	-14.02%	1h	$1.36M	$1.83M
VVVV	$16.03	+10.51%	1h	$1.10M	$799.25K
SSUI	$0.7401	+10.51%	1h	$1.04M	$1.20M
AAAPL	$320.98	+3.50%	1h	$949.76K	$335.67K
TTAO	$233.81	+10.51%	1h	$912.15K	$1.37M
CCRCL	$87.37	+3.50%	1h	$878.38K	$708.41K
MMSTR	$127.28	-9.64%	1h	$875.84K	$2.13M
TTON	$1.36	+10.51%	1h	$872.55K	$1.09M
NNEAR	$1.80	+10.51%	1h	$849.97K	$875.97K
XXPL	$0.0829	+10.51%	1h	$762.49K	$1.43M
FFARTCOIN	$0.1933	+28.91%	1h	$756.18K	$655.98K
LLINK	$11.33	+8.76%	1h	$711.42K	$1.52M
AASTER	$0.7002	+7.01%	1h	$701.29K	$1.05M
CCOIN	$177.72	-3.50%	1h	$684.27K	$248.12K
XXPD	$1,433.5	+3.50%	1h	$604.61K	$486.62K
MMON	$0.0275	+10.51%	1h	$596.80K	$896.69K
TTSLA	$349.81	+3.50%	1h	$544.56K	$808.87K
IINTC	$89.73	+3.50%	1h	$481.84K	$878.76K
OONDO	$0.3492	+10.51%	1h	$453.48K	$491.07K
AAPT	$0.5362	-30.66%	1h	$445.64K	$590.31K
AAAVE	$121.97	+10.51%	1h	$444.65K	$4.06M
MMETA	$578.61	+3.50%	1h	$418.60K	$563.30K
AAMZN	$266.53	+6.13%	1h	$416.20K	$607.34K
WWLFI	$0.0580	+7.01%	1h	$397.39K	$1.13M
GGOOGL	$346.99	+3.50%	1h	$392.01K	$1.95M
WWIF	$0.2006	+10.51%	1h	$379.32K	$174.19K
AAZTEC	$0.0135	+10.51%	1h	$376.98K	$104.85K
AARB	$0.0879	-8.76%	1h	$373.69K	$490.12K
JJUP	$0.2182	+10.51%	1h	$370.30K	$692.99K
AAMD	$466.73	+3.50%	1h	$361.02K	$358.83K
JJTO	$0.4850	+10.51%	1h	$360.72K	$103.87K
VVIRTUAL	$0.6831	-14.89%	1h	$356.97K	$361.94K
DDOGE	$0.0844	+7.88%	1h	$340.68K	$560.07K
WWLD	$0.3773	+10.51%	1h	$332.94K	$3.95M
PPOL	$0.1054	-14.89%	1h	$327.76K	$440.95K
HHOOD	$104.50	+3.50%	1h	$322.44K	$599.86K
AAERO	$0.4811	+10.51%	1h	$297.29K	$484.83K
ZZRO	$1.07	+27.16%	1h	$285.69K	$4.37M
AADA	$0.2002	-2.63%	1h	$265.53K	$1.95M
OOP	$0.0890	-41.17%	1h	$252.29K	$216.72K
EEURUSD	$1.16	+0.00%	1h	$246.92K	$1.41M
AAVAX	$7.28	+10.51%	1h	$231.01K	$820.41K
TTRX	$0.3379	-18.40%	1h	$217.08K	$444.43K
LLTC	$49.25	-8.76%	1h	$216.88K	$922.64K
LLDO	$0.3561	+10.51%	1h	$216.49K	$819.61K
EETHFI	$0.5317	+10.51%	1h	$216.17K	$938.45K
BBMNR	$23.84	+3.50%	1h	$211.64K	$124.45K
CCRV	$0.3070	-12.26%	1h	$197.67K	$411.12K
SSPX	$0.5329	+10.51%	1h	$186.79K	$321.67K
TTIA	$0.3407	+7.88%	1h	$175.51K	$167.79K
PPENGU	$0.009096	+10.51%	1h	$175.47K	$431.71K
IICP	$2.45	+10.51%	1h	$156.37K	$189.40K
BBCH	$245.45	+10.51%	1h	$153.70K	$345.04K
PPENDLE	$1.71	+10.51%	1h	$153.23K	$319.28K
MMSFT	$514.79	+3.50%	1h	$140.75K	$1.20M
XXPT	$1,833.1	+3.50%	1h	$122.71K	$423.99K
DDOT	$0.8389	+9.64%	1h	$121.61K	$123.31K
MMORPHO	$2.41	+10.51%	1h	$115.24K	$306.40K
AKAITO	$0.3191	+10.51%	1h	$106.49K	$91.29K
SSEI	$0.0457	+10.51%	1h	$101.84K	$248.07K
UUSELESS	$0.0592	+10.51%	1h	$99.35K	$298.37K
GGRASS	$0.3498	+10.51%	1h	$97.37K	$288.90K
SSKR	$0.0106	-572.03%	1h	$96.17K	$19.95K
HHBAR	$0.0752	-28.03%	1h	$92.79K	$468.32K
SSYRUP	$0.1751	+10.51%	1h	$90.27K	$104.18K
MMNT	$0.5062	-17.52%	1h	$87.23K	$99.94K
MMET	$0.2085	+10.51%	1h	$86.87K	$113.70K
FFIL	$0.6834	+10.51%	1h	$82.40K	$59.69K
FFOGO	$0.00753	+10.51%	1h	$81.03K	$16.82K
XXLM	$0.1772	+10.51%	1h	$76.75K	$272.60K
SSTABLE	$0.0267	+133.15%	1h	$74.74K	$59.02K
PPLTR	$185.78	+3.50%	1h	$72.47K	$358.49K
XXCU	$6.63	+3.50%	1h	$66.69K	$302.48K
CCC	$0.1115	+10.51%	1h	$66.10K	$255.15K
RRIVER	$1.58	+22.78%	1h	$62.76K	$44.72K
PPOPCAT	$0.0542	+1.75%	1h	$59.65K	$126.74K
UUSDJPY	$160.05	+0.00%	1h	$55.18K	$541.60K
DDASH	$38.40	+10.51%	1h	$48.84K	$52.59K
ZZORA	$0.006069	+10.51%	1h	$36.30K	$26.62K
PPYTH	$0.0469	+10.51%	1h	$29.12K	$133.00K
SSTRK	$0.0244	+9.64%	1h	$28.52K	$69.31K
LLINEA	$0.002455	+10.51%	1h	$26.79K	$86.04K
ZZK	$0.008096	-5.26%	1h	$22.71K	$40.75K
DDYDX	$0.1099	+1.75%	1h	$21.64K	$42.46K
BBERA	$0.1674	+10.51%	1h	$18.31K	$71.51K
EEDEN	$0.0701	+10.51%	1h	$18.13K	$37.85K
AAVNT	$0.1014	+10.51%	1h	$16.19K	$49.01K
SSKY	$0.0675	+10.51%	1h	$15.46K	$111.78K
NNMR	$9.04	+10.51%	1h	$13.34K	$45.56K
AAPEX	$0.2605	+10.51%	1h	$12.10K	$59.41K
EEIGEN	$0.1943	+10.51%	1h	$12.08K	$425.07K
MMEGA	$0.0379	+10.51%	1h	$11.56K	$70.02K
CCRO	$0.0570	+10.51%	1h	$11.46K	$61.54K
GGMX	$7.59	-94.61%	1h	$11.45K	$62.71K
AAXS	$0.8919	-82.34%	1h	$10.69K	$16.57K
SSTBL	$0.0271	+10.51%	1h	$10.69K	$68.20K
GGBPUSD	$1.35	+0.00%	1h	$9.96K	$126.86K
SS	$0.0305	-50.81%	1h	$8.26K	$128.51K
AARC	$0.0684	+10.51%	1h	$7.88K	$35.45K
FFF	$0.0927	+10.51%	1h	$7.40K	$92.79K
RRESOLV	$0.0178	+10.51%	1h	$5.13K	$28.01K
DDOLO	$0.0255	+10.51%	1h	$4.98K	$17.30K
MMYX	$0.0714	+54.31%	1h	$3.63K	$41.90K
PPROVE	$0.1676	+10.51%	1h	$240	$34.83K

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 125 perpetual markets on Lighter right now, the average annualized funding is +0.37%, which means the venue as a whole is currently charging longs to hold. Ignoring the direction, the average market pays or charges 16.92% 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 125 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, Backpack: shorting TRUMP on Lighter against the opposite leg on Backpack opens a gross funding spread of +76.92% annualized, which is +64.41% after both venues' taker fees. That is one snapshot of a rate that floats — 11 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: 11 of Lighter's 125 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.