Funding arb · Price arb /

LIT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRnext payment −$0.00 per $10,000 · paid last 24h +0.052%

Price spread now: Hyperliquid against Bulk+0.565%7-day average +0.091% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs+$17as in the Price arb table

costs, in and out, $10k−$310.309% of the position

Long on Bulk Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.205%+$21 on $10k

Price spread, last 4 days (all we have)+0.037%+$4 · spread now +0.565%, 7d avg +0.091%

Together, before fees+0.242%+ Points / potential airdropHyperliquid: Season 2 · farm board+$24 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Hyperliquid is 0.474% dearer against Bulk than usual: you sell high and buy low, +$47 on $10k if it goes back to its 7-day average of +0.091%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bulk LIT-USD	4.7454	0.0100	pay 0.0013% / 1h	18m 45s	$119K	$6K	10x
Short	Hyperliquid LIT	4.7722	0.0100	get 0.0013% / 1h	18m 45s	$212.1M	$45.1M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Bulk. 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 BulkbpFee HyperliquidbpOrdersPrice spread, now +0.565%Rate

Funding earned: $0
Price spread: +0.565% → +0.091%: $47.39
Slippage, 4 orders: −$14.88
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $16.51
Costs to cover: 0.309%
Break-even: from the start

Slippage from Bulk: live order book, 5 min ago; Hyperliquid: live order book, 5 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 Bulk live order book, 5 min ago	0.74 bp	4.6 bp −$5	24.3 bp −$243	83.9 bp −$8,394	doesn't fit
Sell Hyperliquid live order book, 5 min ago	0.10 bp	10.9 bp −$11	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
Deribit LIT_USDC-PERPETUAL	−0.0966%	1h	4.7630	+0.372%	$42K	$40K	10x	as long as short
Orderly PERP_LIT_USDC	−0.0611%	4h	4.7593	+0.293%	$33K	$2K	10x	as long as short
Gate LIT_USDT	−0.0600%	4h	4.7660	+0.434%	$2.8M	$4.5M	50x	as long as short
Phemex LITUSDT	−0.0562%	4h	4.7590	+0.287%	$1.3M	$2.7M	20x	as long as short
01 Exchange LITUSD	−0.0560%	1h	4.7596	+0.299%	$33K	$4K	5x	as long as short
Bullet LIT-USD	−0.0341%	1h	4.7626	+0.362%	$86K	$81K	20x	as long as short
OKX LIT-USDT-SWAP	−0.0325%	4h	4.7608	+0.325%	$25.1M	$62.1M	50x	as long as short
GRVT LIT_USDT_Perp	−0.0296%	4h	4.7469	+0.031%	$906K	$1.9M	10x	as long as short
Bybit LITUSDT	−0.0294%	4h	4.7624	+0.358%	$43.1M	$30.6M	75x	as long as short
KuCoin LITUSDTM	−0.0286%	4h	4.7665	+0.445%	$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_PERP	−0.0285%	1h	4.7664	+0.443%	$669K	$1.5M	5x	as long as short
Coinbase International LIT-PERP-INTX	−0.0152%	1h	4.7721	+0.563%	$660K	$404K	50x	as long as short
Phoenix LIT	−0.0050%	1h	4.7583	+0.272%	$247K	$321K	5x	as long as short
Paradex LIT-USD-PERP	−0.0022%	8h	4.7622	+0.354%	$6K	$2K	5x	as long as short
Aftermath Perps LITUSD	−0.0009%	1h	4.7589	+0.285%	$12K	$199K	10x	as long as short
SoDEX LIT-USD	−0.0005%	1h	4.7620	+0.350%	$1K	$487K	5x	as long as short
dYdX LIT-USD	0.0000%	1h	4.7679	+0.474%	$34K	—	5x	as long as short
gTrade (Gains Network) LIT/USD	L +0.0003% / S −0.0003%	1h	4.7682	+0.480%	$35K	—	150x	as long as short
RISEx LIT/USDC	+0.0009%	1h	4.7654	+0.421%	$830K	$2.0M	5x	as long as short
Nado LIT-PERP	+0.0014%	1h	4.7629	+0.370%	$2.2M	$1.7M	10x	as long as short
Polymarket Perps LIT-USD	+0.0031%	1h	4.7642	+0.396%	$450K	$105K	10x	as long as short
Injective LIT/USDC PERP	+0.0033%	1h	4.8040	+1.235%	$422	$178K	5.5x	as long as short
edgeX LITUSDC	+0.0038%	4h	4.7597	+0.301%	$290K	$311K	10x	as long as short
MEXC LIT_USDT	+0.0044%	4h	4.7626	+0.362%	$5.8M	$4.2M	100x	as long as short
Binance LITUSDT	+0.0046%	4h	4.7607	+0.323%	$75.3M	$81.3M	75x	as long as short
Extended LIT-USD	+0.0064%	1h	4.7601	+0.310%	$5.3M	$5.2M	25x	as long as short
Aevo LIT-PERP	+0.0064%	1h	4.7621	+0.353%	$149K	$44K	3x	as long as short
Lighter LIT	+0.0096%	1h	4.7721	+0.563%	$59.8M	$30.1M	5x	as long as short
Hyperliquid LITshort	+0.0100%	1h	4.7722	+0.565%	$212.1M	$45.1M	5x
Aster LITUSDT	+0.0100%	4h	4.7717	+0.554%	$12.8M	$2.5M	50x	as long as short
Pacifica LIT	+0.0100%	1h	4.7664	+0.443%	$588K	$1.8M	10x	as long as short
Arcus LIT-USD	+0.0100%	1h	4.7629	+0.369%	$117K	$449K	5x	as long as short
Bitget LITUSDT	+0.0100%	4h	4.7640	+0.392%	$6.8M	$2.7M	20x	as long as short
ApeX Omni LITUSDT	+0.0100%	1h	4.7680	+0.476%	$56K	$78K	50x	as long as short
Derive LIT-PERP	+0.0100%	1h	4.7670	+0.456%	$2K	$1K	6.7x	as long as short
SunX LIT-USDT	+0.0100%	4h	4.7664	+0.443%	$4K	$1.2M	20x	as long as short
HTX LIT-USDT	+0.0100%	4h	4.7721	+0.563%	$191K	$329K	30x	as long as short
Bulk LIT-USDlong	+0.0100%	1h	4.7454	long leg	$119K	$6K	10x
Perpl LIT	+0.0112%	43m	4.7676	+0.468%	$32K	$839K	33x	as long as short
BloFin LIT-USDT	+0.0178%	4h	4.7633	+0.377%	$1.5M	$2.1M	75x	as long as short
GMX LIT/USD [ETH-USDC]	L +0.0359% / S −0.0155%	1h	4.7677	+0.470%	$60K	—	50x	as long as short
Lighter RH LIT	+0.0424%	1h	4.7740	+0.603%	$3.8M	$14.2M	5x	as long as short