Funding arb · Price arb /

LIT

all LIT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0134%/8h= −14.6% APRpaid last 24h −0.027%

Price spread now: Phoenix against Binance+0.491%65s7-day average +0.165% · you sell dearer than you buy

Net, funding: paid 7d − costs−$43as 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−$530.527% of the position

Long on Binance Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.094%+$9 on $10k

Price spread, last 3 days (all we have)+0.189%+$19 · spread now +0.491%, 7d avg +0.165%

Together, before fees+0.284%+$28 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phoenix is 0.327% dearer against Binance than usual: you sell high and buy low (spread +0.491% now, against its 7-day average of +0.165%): +$33 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 8.1 days. Mind the row above: over the last 7 days funding on this pair paid +0.094%, so the current rate has only just turned against you. The two prices were read 65 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	Binance LITUSDT	4.6819	0.0100	pay 0.0050% / 4h	2h 54m	$74.8M	$80.2M	75x
Short	Phoenix LIT	4.7049	−0.0034	pay 0.0004% / 1h	54m 23s	$203K	$352K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Binance. 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 BinancebpFee PhoenixbpOrdersPrice spread, now +0.491%Rate

Funding earned: −$28.09
Price spread: +0.491% → +0.165%: $32.66
Slippage, 4 orders: −$35.7
Fee Binance: 5 bp × 2 orders: −$10
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$48.14
Costs to cover: 0.527%
Break-even: never at this rate

Slippage from Binance: live order book, 3 min ago; Phoenix: live order book, 12 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 Binance live order book, 3 min ago	0.11 bp	10.8 bp −$11	35.1 bp −$351	doesn't fit	doesn't fit
Sell Phoenix live order book, 12 min ago	2.10 bp	16.0 bp −$16	50.2 bp −$502	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	−0.0616%	1h	4.6711	−0.231%	$33K	$4K	5x	as long as short
Backpack LIT_USDC_PERP	−0.0511%	1h	4.6828	+0.019%	$679K	$1.4M	5x	as long as short
Orderly PERP_LIT_USDC	−0.0476%	4h	4.6771	−0.103%	$32K	$2K	10x	as long as short
Bullet LIT-USD	−0.0443%	1h	4.6822	+0.006%	$84K	$72K	20x	as long as short
Deribit LIT_USDC-PERPETUAL	−0.0375%	1h	4.6850	+0.066%	$41K	$40K	10x	as long as short
OKX LIT-USDT-SWAP	−0.0181%	4h	4.6854	+0.075%	$25.4M	$63.4M	50x	as long as short
GRVT LIT_USDT_Perp	−0.0166%	4h	4.6831	+0.026%	$898K	$1.8M	10x	as long as short
KuCoin LITUSDTM	−0.0140%	4h	4.6829	+0.021%	$5.2M	$1.1M	30x	as long as short
ApeX Omni LITUSDT	−0.0135%	1h	4.6860	+0.088%	$56K	$77K	50x	as long as short
Gate LIT_USDT	−0.0092%	4h	4.6840	+0.045%	$2.8M	$4.2M	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International LIT-PERP-INTX	−0.0080%	1h	4.6919	+0.214%	$664K	$385K	50x	as long as short
Phoenix LITshort	−0.0034%	1h	4.7049	+0.491%	$203K	$352K	5x
dYdX LIT-USD	0.0000%	1h	4.6822	+0.006%	$34K	—	5x	as long as short
gTrade (Gains Network) LIT/USD	L +0.0003% / S 0.0000%	1h	4.6880	+0.131%	$469	—	150x	as long as short
Injective LIT/USDC PERP	+0.0033%	1h	4.8040	+2.608%	$422	$178K	5.5x	as long as short
Paradex LIT-USD-PERP	+0.0040%	8h	4.6790	−0.062%	$7K	$2K	5x	as long as short
RISEx LIT/USDC	+0.0081%	1h	4.6803	−0.033%	$780K	$2.0M	5x	as long as short
Lighter LIT	+0.0096%	1h	4.6880	+0.130%	$58.7M	$29.1M	5x	as long as short
Bulk LIT-USD	+0.0096%	1h	4.6903	+0.180%	$117K	$1K	10x	as long as short
Nado LIT-PERP	+0.0100%	1h	4.6785	−0.073%	$2.1M	$1.7M	10x	as long as short
Hyperliquid LIT	+0.0100%	1h	4.6833	+0.030%	$209.9M	$44.2M	5x	as long as short
Aster LITUSDT	+0.0100%	4h	4.6854	+0.076%	$12.5M	$2.1M	50x	as long as short
Pacifica LIT	+0.0100%	1h	4.6835	+0.034%	$580K	$1.6M	10x	as long as short
Binance LITUSDTlong	+0.0100%	4h	4.6819	long leg	$74.8M	$80.2M	75x
Bybit LITUSDT	+0.0100%	4h	4.6830	+0.023%	$42.1M	$29.9M	75x	as long as short
Arcus LIT-USD	+0.0100%	1h	4.6807	−0.026%	$116K	$448K	5x	as long as short
MEXC LIT_USDT	+0.0100%	4h	4.6748	−0.152%	$5.4M	$4.0M	100x	as long as short
Bitget LITUSDT	+0.0100%	4h	4.6840	+0.045%	$6.7M	$2.7M	20x	as long as short
edgeX LITUSDC	+0.0100%	4h	4.6902	+0.177%	$286K	$304K	10x	as long as short
Polymarket Perps LIT-USD	+0.0100%	1h	4.6788	−0.066%	$442K	$104K	10x	as long as short
Derive LIT-PERP	+0.0100%	1h	4.6886	+0.143%	$2K	—	6.7x	as long as short
SunX LIT-USDT	+0.0100%	4h	4.6886	+0.143%	$4K	$1.2M	20x	as long as short
SoDEX LIT-USD	+0.0100%	1h	4.6850	+0.066%	$1K	$458K	5x	as long as short
HTX LIT-USDT	+0.0100%	4h	4.6902	+0.177%	$187K	$354K	30x	as long as short
Phemex LITUSDT	+0.0100%	4h	4.6820	+0.002%	$1.4M	$2.7M	20x	as long as short
Extended LIT-USD	+0.0104%	1h	4.6824	+0.011%	$5.1M	$5.1M	25x	as long as short
Aevo LIT-PERP	+0.0104%	1h	4.6818	−0.001%	$146K	—	3x	as long as short
Lighter RH LIT	+0.0232%	1h	4.6902	+0.177%	$3.7M	$13.2M	5x	as long as short
Aftermath Perps LITUSD	+0.0289%	1h	4.7061	+0.518%	$10K	$208K	10x	as long as short
BloFin LIT-USDT	+0.0340%	4h	4.6793	−0.056%	$1.6M	$2.0M	75x	as long as short
GMX LIT/USD [ETH-USDC]	L +0.0401% / S −0.0193%	1h	4.6872	+0.112%	$63K	—	50x	as long as short
Perpl LIT	+0.0447%	43m	4.6822	+0.006%	$31K	$857K	33x	as long as short