Funding arb · Price arb /

LIT

all LIT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0538%/8h= −58.9% APRpaid last 24h −0.059%

Price spread now: Phemex against Bulk−0.120%7-day average −0.073% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$83as in the Price arb table

costs, in and out, $10k−$780.783% of the position

Long on Bulk Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.084%−$8 on $10k

Price spread, last 3 days (all we have)−0.038%−$4 · spread now −0.120%, 7d avg −0.073%

Together, before fees−0.121%−$12 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$16 a day on $10k at the current rate, and Phemex is 0.048% cheaper against Bulk than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.073%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.084% in total (about -9.3% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bulk LIT-USD	4.7397	0.0077	pay 0.0010% / 1h	48m 51s	$119K	$7K	10x
Short	Phemex LITUSDT	4.7340	−0.0461	pay 0.0230% / 4h	2h 48m	$1.3M	$2.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.120%Rate

Funding earned: −$113.04
Price spread: −0.120% → −0.073%: −$4.77
Slippage, 4 orders: −$59.25
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$196.06
Costs to cover: 0.783%
Break-even: never at this rate

Slippage from Bulk: live order book, 40 min ago; Phemex: 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, 40 min ago	0.83 bp	6.6 bp −$7	15.3 bp −$153	44.7 bp −$4,473	doesn't fit
Sell Phemex live order book, 5 min ago	6.33 bp	32.3 bp −$32	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	−0.0908%	1h	4.7370	−0.057%	$42K	$40K	10x	as long as short
01 Exchange LITUSD	−0.0672%	1h	4.7355	−0.089%	$33K	$4K	5x	as long as short
Backpack LIT_USDC_PERP	−0.0626%	1h	4.7399	+0.004%	$666K	$1.5M	5x	as long as short
Orderly PERP_LIT_USDC	−0.0573%	4h	4.7326	−0.150%	$32K	$2K	10x	as long as short
Gate LIT_USDT	−0.0504%	4h	4.7380	−0.036%	$2.8M	$4.5M	50x	as long as short
Phemex LITUSDTshort	−0.0461%	4h	4.7340	−0.120%	$1.3M	$2.7M	20x
KuCoin LITUSDTM	−0.0328%	4h	4.7418	+0.044%	$5.3M	$1.1M	30x	as long as short
OKX LIT-USDT-SWAP	−0.0295%	4h	4.7392	−0.011%	$25.1M	$60.8M	50x	as long as short
Bullet LIT-USD	−0.0274%	1h	4.7373	−0.051%	$85K	$81K	20x	as long as short
GRVT LIT_USDT_Perp	−0.0268%	4h	4.7401	+0.009%	$898K	$1.9M	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit LITUSDT	−0.0218%	4h	4.7438	+0.087%	$42.9M	$30.2M	75x	as long as short
Nado LIT-PERP	−0.0193%	1h	4.7395	−0.004%	$2.1M	$1.7M	10x	as long as short
Coinbase International LIT-PERP-INTX	−0.0152%	1h	4.8452	+2.226%	$668K	$408K	50x	as long as short
Extended LIT-USD	−0.0088%	1h	4.7360	−0.077%	$5.2M	$5.1M	25x	as long as short
Phoenix LIT	−0.0050%	1h	4.7435	+0.080%	$245K	$321K	5x	as long as short
SoDEX LIT-USD	−0.0045%	1h	4.7365	−0.068%	$981	$476K	5x	as long as short
Paradex LIT-USD-PERP	−0.0015%	8h	4.7385	−0.026%	$5K	$1K	5x	as long as short
dYdX LIT-USD	0.0000%	1h	4.7460	+0.133%	$34K	—	5x	as long as short
gTrade (Gains Network) LIT/USD	L +0.0003% / S −0.0003%	1h	4.7426	+0.062%	$35K	—	150x	as long as short
RISEx LIT/USDC	+0.0009%	1h	4.7450	+0.112%	$816K	$2.0M	5x	as long as short
Injective LIT/USDC PERP	+0.0033%	1h	4.8040	+1.357%	$422	$178K	5.5x	as long as short
Binance LITUSDT	+0.0043%	4h	4.7368	−0.061%	$74.8M	$80.7M	75x	as long as short
MEXC LIT_USDT	+0.0050%	4h	4.7349	−0.101%	$5.9M	$4.2M	100x	as long as short
edgeX LITUSDC	+0.0053%	4h	4.7455	+0.123%	$289K	$311K	10x	as long as short
Aevo LIT-PERP	+0.0056%	1h	4.7341	−0.119%	$148K	$44K	3x	as long as short
Bulk LIT-USDlong	+0.0077%	1h	4.7397	long leg	$119K	$7K	10x
Polymarket Perps LIT-USD	+0.0092%	1h	4.7444	+0.099%	$448K	$104K	10x	as long as short
Lighter LIT	+0.0096%	1h	4.7458	+0.129%	$59.6M	$29.6M	5x	as long as short
Hyperliquid LIT	+0.0100%	1h	4.7405	+0.017%	$210.6M	$44.4M	5x	as long as short
Aster LITUSDT	+0.0100%	4h	4.7420	+0.049%	$12.7M	$2.5M	50x	as long as short
Pacifica LIT	+0.0100%	1h	4.7443	+0.097%	$595K	$1.8M	10x	as long as short
Arcus LIT-USD	+0.0100%	1h	4.7427	+0.063%	$118K	$444K	5x	as long as short
Bitget LITUSDT	+0.0100%	4h	4.7400	+0.006%	$6.7M	$2.7M	20x	as long as short
ApeX Omni LITUSDT	+0.0100%	1h	4.7450	+0.112%	$56K	$77K	50x	as long as short
Derive LIT-PERP	+0.0100%	1h	4.7407	+0.021%	$2K	$1K	6.7x	as long as short
SunX LIT-USDT	+0.0100%	4h	4.7446	+0.103%	$4K	$1.2M	20x	as long as short
HTX LIT-USDT	+0.0100%	4h	4.7443	+0.097%	$189K	$330K	30x	as long as short
Perpl LIT	+0.0112%	43m	4.7455	+0.123%	$31K	$844K	33x	as long as short
BloFin LIT-USDT	+0.0170%	4h	4.7362	−0.074%	$1.5M	$2.0M	75x	as long as short
Aftermath Perps LITUSD	+0.0188%	1h	4.7521	+0.261%	$11K	$198K	10x	as long as short
Lighter RH LIT	+0.0288%	1h	4.7469	+0.152%	$3.7M	$14.0M	5x	as long as short
GMX LIT/USD [ETH-USDC]	L +0.0388% / S −0.0190%	1h	4.7416	+0.041%	$60K	—	50x	as long as short