Funding arb · Price arb /

LIT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0336%/8h= −36.8% APRpaid last 24h −0.138%

Price spread now: Orderly against Backpack−0.166%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Backpack Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Orderly is 0.166% cheaper against Backpack than usual: you would sell low and buy high (−$17 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack LIT_USDC_PERP	4.7673	−0.0273	get 0.0034% / 1h	17m 51s	$670K	$1.5M	5x
Short	Orderly PERP_LIT_USDC	4.7594	−0.0610	pay 0.0305% / 4h	2h 17m	$33K	$2K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.166%Rate

Funding earned: −$70.65
Price spread: −0.166% → 0.000%: −$16.57
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$103.22
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Backpack: live order book, 1 min ago; Orderly: no order-book sample. Net counts fees only.

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 Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.071%	$42K	$40K	10x	as long as short
Orderly PERP_LIT_USDCshort	−0.0610%	4h	4.7594	−0.166%	$33K	$2K	10x
Gate LIT_USDT	−0.0600%	4h	4.7650	−0.048%	$2.8M	$4.5M	50x	as long as short
01 Exchange LITUSD	−0.0560%	1h	4.7575	−0.206%	$33K	$4K	5x	as long as short
Phemex LITUSDT	−0.0553%	4h	4.7600	−0.153%	$1.3M	$2.7M	20x	as long as short
Bullet LIT-USD	−0.0338%	1h	4.7631	−0.088%	$86K	$81K	20x	as long as short
OKX LIT-USDT-SWAP	−0.0326%	4h	4.7602	−0.149%	$25.1M	$62.2M	50x	as long as short
GRVT LIT_USDT_Perp	−0.0296%	4h	4.7469	−0.429%	$906K	$1.9M	10x	as long as short
Bybit LITUSDT	−0.0294%	4h	4.7620	−0.111%	$43.1M	$30.6M	75x	as long as short
KuCoin LITUSDTM	−0.0286%	4h	4.7653	−0.042%	$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	−0.0273%	1h	4.7673	long leg	$670K	$1.5M	5x
Coinbase International LIT-PERP-INTX	−0.0152%	1h	4.7721	+0.101%	$660K	$404K	50x	as long as short
Phoenix LIT	−0.0050%	1h	4.7583	−0.189%	$247K	$321K	5x	as long as short
Aftermath Perps LITUSD	−0.0028%	1h	4.7603	−0.147%	$12K	$199K	10x	as long as short
Paradex LIT-USD-PERP	−0.0022%	8h	4.7622	−0.107%	$6K	$2K	5x	as long as short
SoDEX LIT-USD	−0.0002%	1h	4.7625	−0.101%	$1K	$487K	5x	as long as short
dYdX LIT-USD	0.0000%	1h	4.7679	+0.012%	$34K	—	5x	as long as short
gTrade (Gains Network) LIT/USD	L +0.0003% / S −0.0003%	1h	4.7685	+0.026%	$35K	—	150x	as long as short
RISEx LIT/USDC	+0.0009%	1h	4.7654	−0.041%	$830K	$2.0M	5x	as long as short
Nado LIT-PERP	+0.0014%	1h	4.7605	−0.143%	$2.2M	$1.7M	10x	as long as short
Polymarket Perps LIT-USD	+0.0031%	1h	4.7653	−0.042%	$450K	$105K	10x	as long as short
Injective LIT/USDC PERP	+0.0033%	1h	4.8040	+0.770%	$422	$178K	5.5x	as long as short
edgeX LITUSDC	+0.0038%	4h	4.7597	−0.160%	$290K	$311K	10x	as long as short
MEXC LIT_USDT	+0.0044%	4h	4.7615	−0.122%	$5.8M	$4.2M	100x	as long as short
Binance LITUSDT	+0.0046%	4h	4.7586	−0.183%	$75.3M	$81.4M	75x	as long as short
Aevo LIT-PERP	+0.0064%	1h	4.7629	−0.092%	$149K	$44K	3x	as long as short
Extended LIT-USD	+0.0080%	1h	4.7612	−0.128%	$5.3M	$5.2M	25x	as long as short
Lighter LIT	+0.0096%	1h	4.7695	+0.046%	$59.8M	$30.1M	5x	as long as short
Hyperliquid LIT	+0.0100%	1h	4.7702	+0.061%	$212.0M	$45.1M	5x	as long as short
Aster LITUSDT	+0.0100%	4h	4.7703	+0.062%	$12.8M	$2.5M	50x	as long as short
Pacifica LIT	+0.0100%	1h	4.7664	−0.019%	$588K	$1.8M	10x	as long as short
Arcus LIT-USD	+0.0100%	1h	4.7629	−0.092%	$117K	$449K	5x	as long as short
Bitget LITUSDT	+0.0100%	4h	4.7650	−0.048%	$6.8M	$2.7M	20x	as long as short
ApeX Omni LITUSDT	+0.0100%	1h	4.7680	+0.015%	$56K	$78K	50x	as long as short
Derive LIT-PERP	+0.0100%	1h	4.7681	+0.017%	$2K	$1K	6.7x	as long as short
SunX LIT-USDT	+0.0100%	4h	4.7681	+0.017%	$4K	$1.2M	20x	as long as short
HTX LIT-USDT	+0.0100%	4h	4.7684	+0.023%	$191K	$329K	30x	as long as short
Bulk LIT-USD	+0.0100%	1h	4.7454	−0.459%	$119K	$6K	10x	as long as short
Perpl LIT	+0.0112%	43m	4.7668	−0.010%	$32K	$839K	33x	as long as short
BloFin LIT-USDT	+0.0178%	4h	4.7633	−0.084%	$1.5M	$2.1M	75x	as long as short
GMX LIT/USD [ETH-USDC]	L +0.0359% / S −0.0155%	1h	4.7681	+0.017%	$60K	—	50x	as long as short
Lighter RH LIT	+0.0424%	1h	4.7713	+0.084%	$3.7M	$14.2M	5x	as long as short