Funding arb · Price arb /

LIT

all LIT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0021%/8h= +2.4% APRpaid last 24h −0.056%

Price spread now: Phemex against Backpack−0.094%7-day average −0.082% · you buy dearer than you sell

Net, funding: paid 7d − costs−$98as in the Funding arb table

Net, price: spread back to 7d avg − costs−$75as in the Price arb table

costs, in and out, $10k−$740.741% of the position

Long on Backpack Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.236%−$24 on $10k

Price spread, last 4 days (all we have)−0.013%−$1 · spread now −0.094%, 7d avg −0.082%

Together, before fees−0.249%−$25 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.082%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.236%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack LIT_USDC_PERP	4.6914	−0.0107	get 0.0013% / 1h	31m 05s	$656K	$1.4M	5x
Short	Phemex LITUSDT	4.6870	−0.0085	pay 0.0043% / 4h	31m 05s	$1.4M	$2.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.094%Rate

Funding earned: $4.51
Price spread: −0.094% → −0.082%: −$1.21
Slippage, 4 orders: −$52.09
Fee Backpack: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$70.79
Costs to cover: 0.741%
Break-even: 116.8 days

Slippage from Backpack: live order book, 3 min ago; Phemex: live order book, 3 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, 3 min ago	0.11 bp	5.3 bp −$5	16.3 bp −$163	doesn't fit	doesn't fit
Sell Phemex live order book, 3 min ago	4.29 bp	33.5 bp −$33	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
01 Exchange LITUSD	−0.0480%	1h	4.6900	−0.030%	$33K	$4K	5x	as long as short
Deribit LIT_USDC-PERPETUAL	−0.0396%	1h	4.6890	−0.052%	$41K	$40K	10x	as long as short
Orderly PERP_LIT_USDC	−0.0390%	4h	4.6835	−0.168%	$32K	$1K	10x	as long as short
Bullet LIT-USD	−0.0282%	1h	4.6888	−0.056%	$84K	$68K	20x	as long as short
Gate LIT_USDT	−0.0218%	4h	4.6900	−0.030%	$2.7M	$4.3M	50x	as long as short
Coinbase International LIT-PERP-INTX	−0.0192%	1h	4.6848	−0.142%	$612K	$398K	50x	as long as short
Backpack LIT_USDC_PERPlong	−0.0107%	1h	4.6914	long leg	$656K	$1.4M	5x
Extended LIT-USD	−0.0104%	1h	4.6868	−0.098%	$5.1M	$5.0M	25x	as long as short
Phemex LITUSDTshort	−0.0085%	4h	4.6870	−0.094%	$1.4M	$2.8M	20x
Bybit LITUSDT	−0.0058%	4h	4.6900	−0.030%	$41.3M	$28.8M	75x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix LIT	−0.0034%	1h	4.6644	−0.576%	$201K	$305K	5x	as long as short
KuCoin LITUSDTM	−0.0002%	4h	4.6890	−0.051%	$5.2M	$1.0M	30x	as long as short
dYdX LIT-USD	0.0000%	1h	4.6892	−0.048%	$34K	—	5x	as long as short
OKX LIT-USDT-SWAP	+0.0001%	4h	4.6899	−0.032%	$25.2M	$61.5M	50x	as long as short
gTrade (Gains Network) LIT/USD	L +0.0003% / S −0.0002%	1h	4.6908	−0.012%	$11K	—	150x	as long as short
Nado LIT-PERP	+0.0014%	1h	4.6892	−0.046%	$2.2M	$1.7M	10x	as long as short
Injective LIT/USDC PERP	+0.0033%	1h	4.8040	+2.400%	$422	$178K	5.5x	as long as short
ApeX Omni LITUSDT	+0.0065%	1h	4.6660	−0.541%	$56K	$76K	50x	as long as short
Polymarket Perps LIT-USD	+0.0066%	1h	4.6890	−0.051%	$438K	$110K	10x	as long as short
Paradex LIT-USD-PERP	+0.0069%	8h	4.6853	−0.131%	$6K	$2K	5x	as long as short
RISEx LIT/USDC	+0.0073%	1h	4.6917	+0.007%	$787K	$2.1M	5x	as long as short
Lighter LIT	+0.0096%	1h	4.6929	+0.032%	$58.4M	$28.6M	5x	as long as short
Lighter RH LIT	+0.0096%	1h	4.6956	+0.090%	$3.6M	$13.1M	5x	as long as short
Hyperliquid LIT	+0.0100%	1h	4.6958	+0.094%	$210.0M	$42.1M	5x	as long as short
Pacifica LIT	+0.0100%	1h	4.6876	−0.081%	$586K	$1.6M	10x	as long as short
Binance LITUSDT	+0.0100%	4h	4.6879	−0.074%	$74.9M	$79.4M	75x	as long as short
Arcus LIT-USD	+0.0100%	1h	4.6904	−0.021%	$115K	$456K	5x	as long as short
MEXC LIT_USDT	+0.0100%	4h	4.6876	−0.081%	$5.6M	$3.9M	100x	as long as short
Bitget LITUSDT	+0.0100%	4h	4.6900	−0.030%	$6.7M	$2.6M	20x	as long as short
edgeX LITUSDC	+0.0100%	4h	4.6556	−0.764%	$285K	$305K	10x	as long as short
GRVT LIT_USDT_Perp	+0.0100%	4h	4.6630	−0.606%	$906K	$1.8M	10x	as long as short
Derive LIT-PERP	+0.0100%	1h	4.6904	−0.020%	$2K	—	6.7x	as long as short
SunX LIT-USDT	+0.0100%	4h	4.6891	−0.049%	$4K	$1.2M	20x	as long as short
SoDEX LIT-USD	+0.0100%	1h	4.6894	−0.043%	$1K	$387K	5x	as long as short
HTX LIT-USDT	+0.0100%	4h	4.6936	+0.047%	$198K	$387K	30x	as long as short
Bulk LIT-USD	+0.0100%	1h	4.6576	−0.720%	$116K	$1K	10x	as long as short
Aevo LIT-PERP	+0.0104%	1h	4.6882	−0.069%	$147K	—	3x	as long as short
Aster LITUSDT	+0.0193%	4h	4.6959	+0.096%	$12.6M	$2.0M	50x	as long as short
Aftermath Perps LITUSD	+0.0237%	1h	4.6706	−0.444%	$9K	$207K	10x	as long as short
Perpl LIT	+0.0335%	43m	4.6938	+0.050%	$31K	$788K	33x	as long as short
BloFin LIT-USDT	+0.0340%	4h	4.6878	−0.077%	$1.5M	$1.9M	75x	as long as short
GMX LIT/USD [ETH-USDC]	L +0.0419% / S −0.0217%	1h	4.6909	−0.012%	$63K	—	50x	as long as short