Funding arb · Price arb /

LIT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:38 UTC+0.0347%/8h= +37.9% APRpaid last 24h +0.040%

Price spread now: Perpl against Derive−0.027%53s7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Derive Short on Perpl

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropPerpl: Active · farm boardneeds both histories

Funding pays, the price is against you. Perpl is 0.027% cheaper against Derive than usual: you would sell low and buy high (spread −0.027% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 6 hours of funding at the current rate (+$10 a day). The two prices were read 53 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	Derive LIT-PERP	4.6844	0.0100	pay 0.0013% / 1h	44m 27s	$2K	—	6.7x
Short	Perpl LIT	4.6831	0.0447	get 0.0040% / 43m	32m 27s	$31K	$828K	33x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Perpl against Derive. 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 DerivebpFee PerplbpOrdersPrice spread, now −0.027%Rate

Funding earned: $72.77
Price spread: −0.027% → 0.000%: −$2.68
Slippage, 4 orders: no order book: not counted
Fee Derive: 3 bp × 2 orders: −$6
Fee Perpl: 6.9 bp × 2 orders: −$13.8
Net: $50.29
Costs to cover: 0.198%
Break-even: 2.2 days

Slippage unknown: Derive: no order-book sample; Perpl: no order-book sample. Net counts fees only.

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 Derive no order-book sample	—	—	—	—	—
Sell Perpl no order-book sample	—	—	—	—	—

Derive and Perpl: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Orderly PERP_LIT_USDC	−0.0396%	4h	4.6783	−0.130%	$32K	$1K	10x	as long as short
Deribit LIT_USDC-PERPETUAL	−0.0363%	1h	4.6815	−0.062%	$41K	$40K	10x	as long as short
Bullet LIT-USD	−0.0340%	1h	4.6816	−0.059%	$84K	$67K	20x	as long as short
01 Exchange LITUSD	−0.0296%	1h	4.6796	−0.102%	$33K	$4K	5x	as long as short
ApeX Omni LITUSDT	−0.0160%	1h	4.6710	−0.286%	$56K	$77K	50x	as long as short
Gate LIT_USDT	−0.0094%	4h	4.6830	−0.030%	$2.7M	$4.2M	50x	as long as short
Phoenix LIT	−0.0085%	1h	4.6728	−0.248%	$201K	$341K	5x	as long as short
Coinbase International LIT-PERP-INTX	−0.0024%	1h	4.6800	−0.094%	$657K	$372K	50x	as long as short
OKX LIT-USDT-SWAP	−0.0020%	4h	4.6867	+0.049%	$25.3M	$61.6M	50x	as long as short
KuCoin LITUSDTM	−0.0018%	4h	4.6789	−0.117%	$5.2M	$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
GRVT LIT_USDT_Perp	−0.0016%	4h	4.6690	−0.329%	$905K	$1.7M	10x	as long as short
Phemex LITUSDT	−0.0015%	4h	4.6810	−0.072%	$1.4M	$2.8M	20x	as long as short
gTrade (Gains Network) LIT/USD	L +0.0003% / S −0.0002%	1h	4.6868	+0.052%	$11K	—	150x	as long as short
Backpack LIT_USDC_PERP	+0.0011%	1h	4.6859	+0.032%	$679K	$1.4M	5x	as long as short
dYdX LIT-USD	+0.0016%	1h	4.6811	−0.070%	$34K	—	5x	as long as short
Injective LIT/USDC PERP	+0.0033%	1h	4.8040	+2.553%	$422	$178K	5.5x	as long as short
Paradex LIT-USD-PERP	+0.0064%	8h	4.6780	−0.137%	$7K	$2K	5x	as long as short
Bulk LIT-USD	+0.0089%	1h	4.6805	−0.082%	$117K	$2K	10x	as long as short
Lighter LIT	+0.0096%	1h	4.6854	+0.021%	$58.5M	$28.6M	5x	as long as short
RISEx LIT/USDC	+0.0099%	1h	4.6829	−0.032%	$781K	$2.0M	5x	as long as short
Nado LIT-PERP	+0.0100%	1h	4.6790	−0.115%	$2.2M	$1.7M	10x	as long as short
Hyperliquid LIT	+0.0100%	1h	4.6876	+0.067%	$209.4M	$41.2M	5x	as long as short
Pacifica LIT	+0.0100%	1h	4.6831	−0.027%	$581K	$1.6M	10x	as long as short
Binance LITUSDT	+0.0100%	4h	4.6827	−0.036%	$74.4M	$78.6M	75x	as long as short
Bybit LITUSDT	+0.0100%	4h	4.6830	−0.030%	$41.5M	$28.6M	75x	as long as short
Arcus LIT-USD	+0.0100%	1h	4.6800	−0.094%	$117K	$446K	5x	as long as short
MEXC LIT_USDT	+0.0100%	4h	4.6796	−0.102%	$5.4M	$3.9M	100x	as long as short
Bitget LITUSDT	+0.0100%	4h	4.6830	−0.030%	$6.7M	$2.6M	20x	as long as short
edgeX LITUSDC	+0.0100%	4h	4.6665	−0.383%	$284K	$306K	10x	as long as short
Polymarket Perps LIT-USD	+0.0100%	1h	4.6823	−0.045%	$443K	$104K	10x	as long as short
Derive LIT-PERPlong	+0.0100%	1h	4.6844	long leg	$2K	—	6.7x
SunX LIT-USDT	+0.0100%	4h	4.6768	−0.162%	$4K	$1.1M	20x	as long as short
SoDEX LIT-USD	+0.0100%	1h	4.6815	−0.062%	$1K	$418K	5x	as long as short
HTX LIT-USDT	+0.0100%	4h	4.6874	+0.064%	$194K	$379K	30x	as long as short
Extended LIT-USD	+0.0104%	1h	4.6783	−0.130%	$5.1M	$5.0M	25x	as long as short
Aevo LIT-PERP	+0.0104%	1h	4.6794	−0.107%	$146K	—	3x	as long as short
Lighter RH LIT	+0.0128%	1h	4.6865	+0.045%	$3.7M	$13.1M	5x	as long as short
Aster LITUSDT	+0.0169%	4h	4.6874	+0.064%	$12.6M	$2.0M	50x	as long as short
Aftermath Perps LITUSD	+0.0260%	1h	4.6804	−0.085%	$9K	$210K	10x	as long as short
BloFin LIT-USDT	+0.0340%	4h	4.6784	−0.128%	$1.6M	$1.9M	75x	as long as short
GMX LIT/USD [ETH-USDC]	L +0.0409% / S −0.0206%	1h	4.6861	+0.036%	$63K	—	50x	as long as short
Perpl LITshort	+0.0447%	43m	4.6831	−0.027%	$31K	$828K	33x