Funding arb · Price arb /

LIT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0649%/8h= −71.1% APRpaid last 24h −0.111%

Price spread now: Phemex against Aftermath Perps−0.381%7-day average −0.126% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$159as in the Price arb table

costs, in and out, $10k−$1341.338% of the position

Long on Aftermath Perps Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.414%−$41 on $10k

Price spread, last 3 days (all we have)−0.037%−$4 · spread now −0.381%, 7d avg −0.126%

Together, before fees−0.451%−$45 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$19 a day on $10k at the current rate, and Phemex is 0.254% cheaper against Aftermath Perps than usual: you would sell low and buy high (−$25 if the spread goes back to its 7-day average of −0.126%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aftermath Perps LITUSD	4.7521	0.0188	pay 0.0024% / 1h	49m 16s	$11K	$198K	10x
Short	Phemex LITUSDT	4.7340	−0.0461	pay 0.0230% / 4h	2h 49m	$1.3M	$2.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Aftermath 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 Aftermath PerpsbpFee PhemexbpOrdersPrice spread, now −0.381%Rate

Funding earned: −$136.34
Price spread: −0.381% → −0.126%: −$25.41
Slippage, 4 orders: −$112.78
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$295.52
Costs to cover: 1.338%
Break-even: never at this rate

Slippage from Aftermath Perps: live order book, 40 min ago; Phemex: live order book, 4 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 Aftermath Perps live order book, 40 min ago	4.53 bp	40.3 bp −$40	doesn't fit	doesn't fit	doesn't fit
Sell Phemex live order book, 4 min ago	6.33 bp	32.3 bp −$32	doesn't fit	doesn't fit	doesn't fit

LIT on 42 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
Deribit LIT_USDC-PERPETUAL	−0.0908%	1h	4.7370	−0.318%	$42K	$40K	10x	as long as short
01 Exchange LITUSD	−0.0672%	1h	4.7355	−0.349%	$33K	$4K	5x	as long as short
Backpack LIT_USDC_PERP	−0.0608%	1h	4.7424	−0.204%	$666K	$1.5M	5x	as long as short
Orderly PERP_LIT_USDC	−0.0573%	4h	4.7326	−0.410%	$32K	$2K	10x	as long as short
Gate LIT_USDT	−0.0504%	4h	4.7430	−0.191%	$2.8M	$4.5M	50x	as long as short
Phemex LITUSDTshort	−0.0461%	4h	4.7340	−0.381%	$1.3M	$2.7M	20x
KuCoin LITUSDTM	−0.0328%	4h	4.7433	−0.185%	$5.3M	$1.1M	30x	as long as short
OKX LIT-USDT-SWAP	−0.0295%	4h	4.7368	−0.322%	$25.1M	$60.7M	50x	as long as short
Bullet LIT-USD	−0.0274%	1h	4.7373	−0.311%	$85K	$81K	20x	as long as short
GRVT LIT_USDT_Perp	−0.0268%	4h	4.7401	−0.252%	$898K	$1.9M	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit LITUSDT	−0.0218%	4h	4.7374	−0.309%	$42.8M	$30.2M	75x	as long as short
Nado LIT-PERP	−0.0193%	1h	4.7395	−0.265%	$2.1M	$1.7M	10x	as long as short
Coinbase International LIT-PERP-INTX	−0.0152%	1h	4.8452	+1.960%	$668K	$408K	50x	as long as short
Extended LIT-USD	−0.0088%	1h	4.7361	−0.337%	$5.2M	$5.1M	25x	as long as short
Phoenix LIT	−0.0050%	1h	4.7435	−0.181%	$245K	$321K	5x	as long as short
SoDEX LIT-USD	−0.0045%	1h	4.7365	−0.328%	$981	$476K	5x	as long as short
Paradex LIT-USD-PERP	−0.0015%	8h	4.7385	−0.286%	$5K	$1K	5x	as long as short
dYdX LIT-USD	0.0000%	1h	4.7460	−0.128%	$34K	—	5x	as long as short
gTrade (Gains Network) LIT/USD	L +0.0003% / S −0.0003%	1h	4.7426	−0.199%	$35K	—	150x	as long as short
RISEx LIT/USDC	+0.0009%	1h	4.7450	−0.149%	$816K	$2.0M	5x	as long as short
Injective LIT/USDC PERP	+0.0033%	1h	4.8040	+1.093%	$422	$178K	5.5x	as long as short
Binance LITUSDT	+0.0043%	4h	4.7357	−0.345%	$74.8M	$80.7M	75x	as long as short
MEXC LIT_USDT	+0.0050%	4h	4.7391	−0.273%	$5.9M	$4.2M	100x	as long as short
edgeX LITUSDC	+0.0053%	4h	4.7455	−0.138%	$289K	$311K	10x	as long as short
Aevo LIT-PERP	+0.0056%	1h	4.7341	−0.379%	$148K	$44K	3x	as long as short
Bulk LIT-USD	+0.0077%	1h	4.7397	−0.261%	$119K	$7K	10x	as long as short
Polymarket Perps LIT-USD	+0.0092%	1h	4.7444	−0.162%	$448K	$104K	10x	as long as short
Lighter LIT	+0.0096%	1h	4.7458	−0.132%	$59.6M	$29.6M	5x	as long as short
Hyperliquid LIT	+0.0100%	1h	4.7460	−0.128%	$210.9M	$44.4M	5x	as long as short
Aster LITUSDT	+0.0100%	4h	4.7466	−0.115%	$12.7M	$2.5M	50x	as long as short
Pacifica LIT	+0.0100%	1h	4.7443	−0.164%	$595K	$1.8M	10x	as long as short
Arcus LIT-USD	+0.0100%	1h	4.7427	−0.197%	$118K	$444K	5x	as long as short
Bitget LITUSDT	+0.0100%	4h	4.7400	−0.254%	$6.7M	$2.7M	20x	as long as short
ApeX Omni LITUSDT	+0.0100%	1h	4.7450	−0.149%	$56K	$77K	50x	as long as short
Derive LIT-PERP	+0.0100%	1h	4.7407	−0.240%	$2K	$1K	6.7x	as long as short
SunX LIT-USDT	+0.0100%	4h	4.7446	−0.157%	$4K	$1.2M	20x	as long as short
HTX LIT-USDT	+0.0100%	4h	4.7443	−0.164%	$189K	$330K	30x	as long as short
Perpl LIT	+0.0112%	43m	4.7455	−0.138%	$31K	$844K	33x	as long as short
BloFin LIT-USDT	+0.0170%	4h	4.7362	−0.334%	$1.5M	$2.0M	75x	as long as short
Aftermath Perps LITUSDlong	+0.0188%	1h	4.7521	long leg	$11K	$198K	10x
Lighter RH LIT	+0.0288%	1h	4.7469	−0.109%	$3.7M	$14.0M	5x	as long as short
GMX LIT/USD [ETH-USDC]	L +0.0388% / S −0.0190%	1h	4.7416	−0.220%	$60K	—	50x	as long as short