Funding arb · Price arb /

LIT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0009%/8h= −0.9% APRpaid last 24h −0.051%

Price spread now: Bybit against Backpack−0.059%45s7-day average −0.244% · you buy dearer than you sell

Net, funding: paid 7d − costs−$84as 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−$670.668% of the position

Long on Backpack Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.168%−$17 on $10k

Price spread, last 7 days+0.358%+$36 · spread now −0.059%, 7d avg −0.244%

Together, before fees+0.190%+$19 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: Bybit is 0.185% dearer against Backpack than usual: you sell high and buy low, +$19 on $10k if it goes back to its 7-day average of −0.244%. 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	Backpack LIT_USDC_PERP	4.7664	−0.0285	get 0.0036% / 1h	18m 17s	$669K	$1.5M	5x
Short	Bybit LITUSDT	4.7636	−0.0294	pay 0.0147% / 4h	2h 18m	$43.1M	$30.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Backpack. 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 BackpackbpFee BybitbpOrdersPrice spread, now −0.059%Rate

Funding earned: −$1.82
Price spread: −0.059% → −0.244%: $18.51
Slippage, 4 orders: −$45.79
Fee Backpack: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$50.1
Costs to cover: 0.668%
Break-even: never at this rate

Slippage from Backpack: live order book, 1 min ago; Bybit: live order book, 6 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 Backpack live order book, 1 min ago	0.94 bp	6.3 bp −$6	14.6 bp −$146	doesn't fit	doesn't fit
Sell Bybit live order book, 6 min ago	1.05 bp	26.4 bp −$26	61.6 bp −$616	426.2 bp −$42.6K	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	−0.0979%	1h	4.7639	−0.052%	$42K	$40K	10x	as long as short
Orderly PERP_LIT_USDC	−0.0610%	4h	4.7594	−0.147%	$33K	$2K	10x	as long as short
Gate LIT_USDT	−0.0600%	4h	4.7660	−0.008%	$2.8M	$4.5M	50x	as long as short
01 Exchange LITUSD	−0.0560%	1h	4.7575	−0.187%	$33K	$4K	5x	as long as short
Phemex LITUSDT	−0.0553%	4h	4.7600	−0.134%	$1.3M	$2.7M	20x	as long as short
Bullet LIT-USD	−0.0338%	1h	4.7631	−0.069%	$86K	$81K	20x	as long as short
OKX LIT-USDT-SWAP	−0.0325%	4h	4.7626	−0.080%	$25.1M	$62.2M	50x	as long as short
GRVT LIT_USDT_Perp	−0.0296%	4h	4.7469	−0.410%	$906K	$1.9M	10x	as long as short
Bybit LITUSDTshort	−0.0294%	4h	4.7636	−0.059%	$43.1M	$30.6M	75x
KuCoin LITUSDTM	−0.0286%	4h	4.7676	+0.025%	$5.3M	$1.1M	30x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Backpack LIT_USDC_PERPlong	−0.0285%	1h	4.7664	long leg	$669K	$1.5M	5x
Coinbase International LIT-PERP-INTX	−0.0152%	1h	4.7721	+0.120%	$660K	$404K	50x	as long as short
Phoenix LIT	−0.0050%	1h	4.7583	−0.170%	$247K	$321K	5x	as long as short
Aftermath Perps LITUSD	−0.0028%	1h	4.7603	−0.128%	$12K	$199K	10x	as long as short
Paradex LIT-USD-PERP	−0.0022%	8h	4.7622	−0.088%	$6K	$2K	5x	as long as short
SoDEX LIT-USD	−0.0002%	1h	4.7625	−0.082%	$1K	$487K	5x	as long as short
dYdX LIT-USD	0.0000%	1h	4.7679	+0.031%	$34K	—	5x	as long as short
gTrade (Gains Network) LIT/USD	L +0.0003% / S −0.0003%	1h	4.7685	+0.044%	$35K	—	150x	as long as short
RISEx LIT/USDC	+0.0009%	1h	4.7654	−0.022%	$830K	$2.0M	5x	as long as short
Nado LIT-PERP	+0.0014%	1h	4.7605	−0.124%	$2.2M	$1.7M	10x	as long as short
Polymarket Perps LIT-USD	+0.0031%	1h	4.7653	−0.023%	$450K	$105K	10x	as long as short
Injective LIT/USDC PERP	+0.0033%	1h	4.8040	+0.789%	$422	$178K	5.5x	as long as short
edgeX LITUSDC	+0.0038%	4h	4.7597	−0.141%	$290K	$311K	10x	as long as short
MEXC LIT_USDT	+0.0044%	4h	4.7622	−0.088%	$5.8M	$4.2M	100x	as long as short
Binance LITUSDT	+0.0046%	4h	4.7617	−0.098%	$75.4M	$81.3M	75x	as long as short
Aevo LIT-PERP	+0.0064%	1h	4.7629	−0.073%	$149K	$44K	3x	as long as short
Extended LIT-USD	+0.0080%	1h	4.7620	−0.093%	$5.3M	$5.2M	25x	as long as short
Lighter LIT	+0.0096%	1h	4.7721	+0.120%	$59.8M	$30.1M	5x	as long as short
Hyperliquid LIT	+0.0100%	1h	4.7724	+0.126%	$212.1M	$45.1M	5x	as long as short
Aster LITUSDT	+0.0100%	4h	4.7701	+0.078%	$12.8M	$2.5M	50x	as long as short
Pacifica LIT	+0.0100%	1h	4.7664	0.000%	$588K	$1.8M	10x	as long as short
Arcus LIT-USD	+0.0100%	1h	4.7629	−0.073%	$117K	$449K	5x	as long as short
Bitget LITUSDT	+0.0100%	4h	4.7650	−0.029%	$6.8M	$2.7M	20x	as long as short
ApeX Omni LITUSDT	+0.0100%	1h	4.7680	+0.034%	$56K	$78K	50x	as long as short
Derive LIT-PERP	+0.0100%	1h	4.7681	+0.036%	$2K	$1K	6.7x	as long as short
SunX LIT-USDT	+0.0100%	4h	4.7681	+0.036%	$4K	$1.2M	20x	as long as short
HTX LIT-USDT	+0.0100%	4h	4.7684	+0.042%	$191K	$329K	30x	as long as short
Bulk LIT-USD	+0.0100%	1h	4.7454	−0.441%	$119K	$6K	10x	as long as short
Perpl LIT	+0.0112%	43m	4.7668	+0.008%	$32K	$839K	33x	as long as short
BloFin LIT-USDT	+0.0178%	4h	4.7633	−0.065%	$1.5M	$2.1M	75x	as long as short
GMX LIT/USD [ETH-USDC]	L +0.0359% / S −0.0155%	1h	4.7681	+0.036%	$60K	—	50x	as long as short
Lighter RH LIT	+0.0424%	1h	4.7740	+0.159%	$3.8M	$14.2M	5x	as long as short