Funding arb · Price arb /

LIT

all LIT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0082%/8h= −9.0% APRpaid last 24h +0.040%

Price spread now: Backpack against Bybit−0.111%7-day average +0.259% · you buy dearer than you sell

Net, funding: paid 7d − costs−$36as in the Funding arb table

Net, price: spread back to 7d avg − costs−$88as in the Price arb table

costs, in and out, $10k−$510.506% of the position

Long on Bybit Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.148%+$15 on $10k

Price spread, last 7 days+0.489%+$49 · spread now −0.111%, 7d avg +0.259%

Together, before fees+0.637%+$64 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Backpack is 0.370% cheaper against Bybit than usual: you would sell low and buy high (−$37 if the spread goes back to its 7-day average of +0.259%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.148%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit LITUSDT	4.6885	−0.0058	get 0.0029% / 4h	31m 35s	$41.3M	$28.8M	75x
Short	Backpack LIT_USDC_PERP	4.6833	−0.0140	pay 0.0017% / 1h	31m 35s	$661K	$1.4M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Bybit. 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 BybitbpFee BackpackbpOrdersPrice spread, now −0.111%Rate

Funding earned: −$17.22
Price spread: −0.111% → +0.259%: −$36.99
Slippage, 4 orders: −$29.62
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$104.82
Costs to cover: 0.506%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; Backpack: live order book, 2 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 Bybit live order book, 2 min ago	1.07 bp	17.2 bp −$17	45.7 bp −$457	doesn't fit	doesn't fit
Sell Backpack live order book, 2 min ago	0.11 bp	7.1 bp −$7	14.7 bp −$147	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	−0.0480%	1h	4.6900	+0.032%	$33K	$4K	5x	as long as short
Orderly PERP_LIT_USDC	−0.0392%	4h	4.6712	−0.369%	$32K	$1K	10x	as long as short
Deribit LIT_USDC-PERPETUAL	−0.0333%	1h	4.6763	−0.260%	$41K	$40K	10x	as long as short
Bullet LIT-USD	−0.0284%	1h	4.6761	−0.264%	$83K	$68K	20x	as long as short
Gate LIT_USDT	−0.0218%	4h	4.6880	−0.011%	$2.7M	$4.3M	50x	as long as short
Coinbase International LIT-PERP-INTX	−0.0192%	1h	4.6848	−0.080%	$612K	$398K	50x	as long as short
Backpack LIT_USDC_PERPshort	−0.0140%	1h	4.6833	−0.111%	$661K	$1.4M	5x
Extended LIT-USD	−0.0104%	1h	4.6853	−0.069%	$5.1M	$5.0M	25x	as long as short
Phemex LITUSDT	−0.0090%	4h	4.6760	−0.267%	$1.4M	$2.8M	20x	as long as short
Bybit LITUSDTlong	−0.0058%	4h	4.6885	long leg	$41.3M	$28.8M	75x

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix LIT	−0.0034%	1h	4.6644	−0.514%	$201K	$305K	5x	as long as short
KuCoin LITUSDTM	−0.0002%	4h	4.6874	−0.023%	$5.2M	$1.0M	30x	as long as short
dYdX LIT-USD	0.0000%	1h	4.6892	+0.014%	$34K	—	5x	as long as short
OKX LIT-USDT-SWAP	+0.0001%	4h	4.6886	+0.002%	$25.2M	$61.4M	50x	as long as short
gTrade (Gains Network) LIT/USD	L +0.0003% / S −0.0002%	1h	4.6788	−0.206%	$11K	—	150x	as long as short
Nado LIT-PERP	+0.0014%	1h	4.6892	+0.016%	$2.2M	$1.7M	10x	as long as short
Injective LIT/USDC PERP	+0.0033%	1h	4.8040	+2.463%	$422	$178K	5.5x	as long as short
Polymarket Perps LIT-USD	+0.0061%	1h	4.6764	−0.258%	$437K	$110K	10x	as long as short
ApeX Omni LITUSDT	+0.0065%	1h	4.6660	−0.480%	$56K	$76K	50x	as long as short
Paradex LIT-USD-PERP	+0.0069%	8h	4.6853	−0.069%	$6K	$2K	5x	as long as short
RISEx LIT/USDC	+0.0073%	1h	4.6917	+0.069%	$787K	$2.1M	5x	as long as short
Lighter LIT	+0.0096%	1h	4.6916	+0.066%	$58.4M	$28.6M	5x	as long as short
Lighter RH LIT	+0.0096%	1h	4.6932	+0.100%	$3.6M	$13.1M	5x	as long as short
Hyperliquid LIT	+0.0100%	1h	4.6932	+0.100%	$209.9M	$42.1M	5x	as long as short
Pacifica LIT	+0.0100%	1h	4.6876	−0.019%	$586K	$1.6M	10x	as long as short
Binance LITUSDT	+0.0100%	4h	4.6888	+0.006%	$75.0M	$79.4M	75x	as long as short
Arcus LIT-USD	+0.0100%	1h	4.6904	+0.041%	$115K	$456K	5x	as long as short
MEXC LIT_USDT	+0.0100%	4h	4.6878	−0.015%	$5.6M	$3.9M	100x	as long as short
Bitget LITUSDT	+0.0100%	4h	4.6890	+0.011%	$6.7M	$2.6M	20x	as long as short
edgeX LITUSDC	+0.0100%	4h	4.6556	−0.702%	$285K	$305K	10x	as long as short
GRVT LIT_USDT_Perp	+0.0100%	4h	4.6630	−0.544%	$906K	$1.8M	10x	as long as short
Derive LIT-PERP	+0.0100%	1h	4.6788	−0.206%	$2K	—	6.7x	as long as short
SunX LIT-USDT	+0.0100%	4h	4.6770	−0.245%	$4K	$1.2M	20x	as long as short
SoDEX LIT-USD	+0.0100%	1h	4.6785	−0.213%	$1K	$387K	5x	as long as short
HTX LIT-USDT	+0.0100%	4h	4.6700	−0.395%	$197K	$387K	30x	as long as short
Bulk LIT-USD	+0.0100%	1h	4.6576	−0.659%	$116K	$1K	10x	as long as short
Aevo LIT-PERP	+0.0104%	1h	4.6761	−0.265%	$146K	—	3x	as long as short
Aster LITUSDT	+0.0193%	4h	4.6959	+0.158%	$12.6M	$2.0M	50x	as long as short
Aftermath Perps LITUSD	+0.0242%	1h	4.6666	−0.467%	$9K	$207K	10x	as long as short
Perpl LIT	+0.0335%	43m	4.6775	−0.235%	$31K	$788K	33x	as long as short
BloFin LIT-USDT	+0.0340%	4h	4.6670	−0.459%	$1.5M	$1.9M	75x	as long as short
GMX LIT/USD [ETH-USDC]	L +0.0418% / S −0.0217%	1h	4.6787	−0.209%	$63K	—	50x	as long as short