Funding arb · Price arb /

LIT

all LIT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0357%/8h= −39.1% APRpaid last 24h −0.102%

Price spread now: Phoenix against BloFin+0.221%106s7-day average +0.151% · you sell dearer than you buy

Net, funding: paid 7d − costs−$89as 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−$570.571% of the position

Long on BloFin Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days−0.322%−$32 on $10k

Price spread, last 4 days (all we have)−0.038%−$4 · spread now +0.221%, 7d avg +0.151%

Together, before fees−0.361%−$36 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phoenix is 0.070% dearer against BloFin than usual: you sell high and buy low (spread +0.221% now, against its 7-day average of +0.151%): +$7 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 16 hours. At the pace of the last 7 days (−0.322% in total) that is about 36 hours. The two prices were read 106 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	BloFin LIT-USDT	4.7156	0.0340	pay 0.0170% / 4h	3h 11m	$1.6M	$1.9M	75x
Short	Phoenix LIT	4.7260	−0.0017	pay 0.0002% / 1h	11m 34s	$203K	$299K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against BloFin. 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 BloFinbpFee PhoenixbpOrdersPrice spread, now +0.221%Rate

Funding earned: −$74.96
Price spread: +0.221% → +0.151%: $6.98
Slippage, 4 orders: −$38.12
Fee BloFin: 6 bp × 2 orders: −$12
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$125.1
Costs to cover: 0.571%
Break-even: never at this rate

Slippage from BloFin: live order book, 1 min ago; Phoenix: live order book, 40 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 BloFin live order book, 1 min ago	0.96 bp	16.9 bp −$17	doesn't fit	doesn't fit	doesn't fit
Sell Phoenix live order book, 40 min ago	1.90 bp	16.1 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
Deribit LIT_USDC-PERPETUAL	−0.0619%	1h	4.7157	+0.002%	$41K	$40K	10x	as long as short
Orderly PERP_LIT_USDC	−0.0392%	4h	4.7098	−0.123%	$32K	$1K	10x	as long as short
Phemex LITUSDT	−0.0352%	4h	4.7150	−0.013%	$1.4M	$2.8M	20x	as long as short
01 Exchange LITUSD	−0.0328%	1h	4.7109	−0.100%	$33K	$3K	5x	as long as short
Bullet LIT-USD	−0.0312%	1h	4.7122	−0.072%	$84K	$67K	20x	as long as short
Coinbase International LIT-PERP-INTX	−0.0304%	1h	4.6877	−0.593%	$607K	$357K	50x	as long as short
Bybit LITUSDT	−0.0194%	4h	4.7190	+0.072%	$41.2M	$28.8M	75x	as long as short
ApeX Omni LITUSDT	−0.0088%	1h	4.7130	−0.055%	$56K	$75K	50x	as long as short
OKX LIT-USDT-SWAP	−0.0084%	4h	4.7170	+0.030%	$25.4M	$60.7M	50x	as long as short
KuCoin LITUSDTM	−0.0024%	4h	4.7178	+0.047%	$5.3M	$1.0M	30x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix LITshort	−0.0017%	1h	4.7260	+0.221%	$203K	$299K	5x
RISEx LIT/USDC	−0.0008%	1h	4.7210	+0.114%	$789K	$2.2M	5x	as long as short
dYdX LIT-USD	0.0000%	1h	4.7231	+0.160%	$34K	—	5x	as long as short
Perpl LIT	0.0000%	43m	4.7166	+0.020%	$31K	$738K	33x	as long as short
gTrade (Gains Network) LIT/USD	L +0.0003% / S −0.0002%	1h	4.7197	+0.087%	$11K	—	150x	as long as short
Injective LIT/USDC PERP	+0.0033%	1h	4.8040	+1.875%	$422	$178K	5.5x	as long as short
GRVT LIT_USDT_Perp	+0.0066%	4h	4.7167	+0.023%	$908K	$1.8M	10x	as long as short
Paradex LIT-USD-PERP	+0.0092%	8h	4.7151	−0.011%	$6K	$2K	5x	as long as short
Lighter LIT	+0.0096%	1h	4.7248	+0.195%	$58.9M	$28.4M	5x	as long as short
Nado LIT-PERP	+0.0100%	1h	4.7194	+0.082%	$2.2M	$1.7M	10x	as long as short
Hyperliquid LIT	+0.0100%	1h	4.7245	+0.189%	$211.0M	$41.6M	5x	as long as short
Pacifica LIT	+0.0100%	1h	4.7207	+0.108%	$574K	$1.6M	10x	as long as short
Binance LITUSDT	+0.0100%	4h	4.7153	−0.006%	$75.7M	$78.7M	75x	as long as short
Arcus LIT-USD	+0.0100%	1h	4.7194	+0.081%	$115K	$451K	5x	as long as short
Bulk LIT-USD	+0.0100%	1h	4.7176	+0.042%	$118K	$8K	10x	as long as short
Gate LIT_USDT	+0.0100%	4h	4.7200	+0.093%	$2.7M	$4.3M	50x	as long as short
MEXC LIT_USDT	+0.0100%	4h	4.7151	−0.011%	$5.7M	$3.9M	100x	as long as short
Bitget LITUSDT	+0.0100%	4h	4.7200	+0.093%	$6.7M	$2.6M	20x	as long as short
Backpack LIT_USDC_PERP	+0.0100%	1h	4.7184	+0.059%	$661K	$1.3M	5x	as long as short
edgeX LITUSDC	+0.0100%	4h	4.7179	+0.048%	$289K	$303K	10x	as long as short
Polymarket Perps LIT-USD	+0.0100%	1h	4.7165	+0.019%	$443K	$87K	10x	as long as short
Derive LIT-PERP	+0.0100%	1h	4.7203	+0.099%	$2K	—	6.7x	as long as short
SunX LIT-USDT	+0.0100%	4h	4.7101	−0.117%	$4K	$1.2M	20x	as long as short
SoDEX LIT-USD	+0.0100%	1h	4.7166	+0.021%	$1K	$372K	5x	as long as short
HTX LIT-USDT	+0.0100%	4h	4.7223	+0.142%	$200K	$358K	30x	as long as short
Extended LIT-USD	+0.0104%	1h	4.7181	+0.054%	$5.2M	$4.9M	25x	as long as short
Aevo LIT-PERP	+0.0104%	1h	4.7140	−0.034%	$147K	—	3x	as long as short
Lighter RH LIT	+0.0152%	1h	4.7248	+0.195%	$3.7M	$13.2M	5x	as long as short
Aster LITUSDT	+0.0238%	4h	4.7243	+0.185%	$12.7M	$1.9M	50x	as long as short
BloFin LIT-USDTlong	+0.0340%	4h	4.7156	long leg	$1.6M	$1.9M	75x
Aftermath Perps LITUSD	+0.0400%	1h	4.7192	+0.075%	$9K	$204K	10x	as long as short
GMX LIT/USD [ETH-USDC]	L +0.0437% / S −0.0231%	1h	4.7181	+0.054%	$65K	—	50x	as long as short