Funding arb · Price arb /

LIT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0134%/8h= −14.7% APRpaid last 24h −0.024%

Price spread now: Phoenix against Bitget−0.088%7-day average +0.103% · you buy dearer than you sell

Net, funding: paid 7d − costs−$74as in the Funding arb table

Net, price: spread back to 7d avg − costs−$98as in the Price arb table

costs, in and out, $10k−$790.785% of the position

Long on Bitget Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.047%+$5 on $10k

Price spread, last 3 days (all we have)+0.952%+$95 · spread now −0.088%, 7d avg +0.103%

Together, before fees+0.999%+$100 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Phoenix is 0.191% cheaper against Bitget than usual: you would sell low and buy high (−$19 if the spread goes back to its 7-day average of +0.103%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget LITUSDT	4.7670	0.0100	pay 0.0050% / 4h	1h 00m	$6.8M	$2.7M	20x
Short	Phoenix LIT	4.7628	−0.0034	pay 0.0004% / 1h	0m 47s	$206K	$327K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Bitget. 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 BitgetbpFee PhoenixbpOrdersPrice spread, now −0.088%Rate

Funding earned: −$28.11
Price spread: −0.088% → +0.103%: −$19.12
Slippage, 4 orders: −$59.53
Fee Bitget: 6 bp × 2 orders: −$12
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$125.77
Costs to cover: 0.785%
Break-even: never at this rate

Slippage from Bitget: live order book, 2 min ago; Phoenix: live order book, 15 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 Bitget live order book, 2 min ago	3.16 bp	26.3 bp −$26	93.7 bp −$937	doesn't fit	doesn't fit
Sell Phoenix live order book, 15 min ago	1.91 bp	16.1 bp −$16	50.0 bp −$500	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
Gate LIT_USDT	−0.1110%	4h	4.7650	−0.042%	$2.8M	$4.6M	50x	as long as short
Orderly PERP_LIT_USDC	−0.0625%	4h	4.7561	−0.229%	$33K	$2K	10x	as long as short
Backpack LIT_USDC_PERP	−0.0556%	1h	4.7672	+0.004%	$669K	$1.4M	5x	as long as short
01 Exchange LITUSD	−0.0552%	1h	4.7620	−0.105%	$33K	$4K	5x	as long as short
Deribit LIT_USDC-PERPETUAL	−0.0520%	1h	4.7626	−0.093%	$42K	$40K	10x	as long as short
Phemex LITUSDT	−0.0478%	4h	4.7580	−0.189%	$1.4M	$2.7M	20x	as long as short
OKX LIT-USDT-SWAP	−0.0461%	4h	4.7593	−0.162%	$25.8M	$63.8M	50x	as long as short
Bullet LIT-USD	−0.0322%	1h	4.7598	−0.151%	$85K	$81K	20x	as long as short
Aftermath Perps LITUSD	−0.0250%	1h	4.7552	−0.248%	$13K	$204K	10x	as long as short
KuCoin LITUSDTM	−0.0232%	4h	4.7644	−0.055%	$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
Bybit LITUSDT	−0.0210%	4h	4.7620	−0.105%	$43.0M	$30.1M	75x	as long as short
Coinbase International LIT-PERP-INTX	−0.0152%	1h	4.7680	+0.021%	$675K	$402K	50x	as long as short
GRVT LIT_USDT_Perp	−0.0130%	4h	4.7540	−0.273%	$905K	$1.8M	10x	as long as short
RISEx LIT/USDC	−0.0082%	1h	4.7620	−0.105%	$814K	$2.1M	5x	as long as short
Phoenix LITshort	−0.0034%	1h	4.7628	−0.088%	$206K	$327K	5x
Nado LIT-PERP	−0.0008%	1h	4.7605	−0.136%	$2.2M	$1.7M	10x	as long as short
dYdX LIT-USD	0.0000%	1h	4.7642	−0.059%	$34K	—	5x	as long as short
Perpl LIT	0.0000%	43m	4.7570	−0.210%	$31K	$841K	33x	as long as short
gTrade (Gains Network) LIT/USD	L +0.0003% / S −0.0003%	1h	4.7644	−0.055%	$35K	—	150x	as long as short
Paradex LIT-USD-PERP	+0.0008%	8h	4.7595	−0.157%	$7K	$2K	5x	as long as short
Injective LIT/USDC PERP	+0.0033%	1h	4.8040	+0.776%	$422	$178K	5.5x	as long as short
edgeX LITUSDC	+0.0056%	4h	4.7520	−0.315%	$289K	$311K	10x	as long as short
MEXC LIT_USDT	+0.0056%	4h	4.7615	−0.115%	$5.7M	$4.2M	100x	as long as short
Binance LITUSDT	+0.0057%	4h	4.7596	−0.154%	$75.7M	$81.2M	75x	as long as short
Aevo LIT-PERP	+0.0072%	1h	4.7604	−0.138%	$149K	$44K	3x	as long as short
Lighter LIT	+0.0096%	1h	4.7681	+0.023%	$60.0M	$30.1M	5x	as long as short
Hyperliquid LIT	+0.0100%	1h	4.7691	+0.044%	$213.4M	$44.5M	5x	as long as short
Aster LITUSDT	+0.0100%	4h	4.7697	+0.057%	$12.7M	$2.4M	50x	as long as short
Pacifica LIT	+0.0100%	1h	4.7646	−0.050%	$617K	$1.6M	10x	as long as short
Arcus LIT-USD	+0.0100%	1h	4.7595	−0.157%	$119K	$451K	5x	as long as short
Bulk LIT-USD	+0.0100%	1h	4.7396	−0.575%	$118K	$6K	10x	as long as short
Bitget LITUSDTlong	+0.0100%	4h	4.7670	long leg	$6.8M	$2.7M	20x
ApeX Omni LITUSDT	+0.0100%	1h	4.7500	−0.357%	$56K	$77K	50x	as long as short
Polymarket Perps LIT-USD	+0.0100%	1h	4.7594	−0.159%	$450K	$105K	10x	as long as short
Derive LIT-PERP	+0.0100%	1h	4.7656	−0.029%	$2K	$650	6.7x	as long as short
SunX LIT-USDT	+0.0100%	4h	4.7637	−0.069%	$5K	$1.2M	20x	as long as short
SoDEX LIT-USD	+0.0100%	1h	4.7625	−0.094%	$1K	$466K	5x	as long as short
HTX LIT-USDT	+0.0100%	4h	4.7651	−0.040%	$191K	$329K	30x	as long as short
Extended LIT-USD	+0.0104%	1h	4.7591	−0.166%	$5.2M	$5.1M	25x	as long as short
Lighter RH LIT	+0.0176%	1h	4.7694	+0.050%	$3.7M	$13.9M	5x	as long as short
BloFin LIT-USDT	+0.0229%	4h	4.7555	−0.241%	$1.5M	$2.1M	75x	as long as short
GMX LIT/USD [ETH-USDC]	L +0.0378% / S −0.0169%	1h	4.7641	−0.062%	$62K	—	50x	as long as short