Funding arb · Price arb /

LIT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0514%/8h= −56.2% APRpaid last 24h −0.055%

Price spread now: Phemex against Derive−0.034%7-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 Phemex

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—needs both histories

Both sides work against this trade now: funding costs −$15 a day on $10k at the current rate, and Phemex is 0.034% cheaper against Derive than usual: you would sell low and buy high (−$3 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Derive LIT-PERP	4.7166	0.0100	pay 0.0013% / 1h	46m 35s	$2K	$1K	6.7x
Short	Phemex LITUSDT	4.7150	−0.0414	pay 0.0207% / 4h	2h 46m	$1.3M	$2.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.034%Rate

Funding earned: −$107.84
Price spread: −0.034% → 0.000%: −$3.4
Slippage, 4 orders: no order book: not counted
Fee Derive: 3 bp × 2 orders: −$6
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$129.25
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Derive: no order-book sample; Phemex: live order book, 2 min ago. 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 Phemex live order book, 2 min ago	7.40 bp	31.7 bp −$32	doesn't fit	doesn't fit	doesn't fit

Derive: 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
Deribit LIT_USDC-PERPETUAL	−0.1191%	1h	4.7115	−0.108%	$41K	$40K	10x	as long as short
01 Exchange LITUSD	−0.0680%	1h	4.7095	−0.151%	$33K	$4K	5x	as long as short
Backpack LIT_USDC_PERP	−0.0629%	1h	4.7160	−0.013%	$662K	$1.5M	5x	as long as short
Gate LIT_USDT	−0.0588%	4h	4.7130	−0.076%	$2.8M	$4.5M	50x	as long as short
Orderly PERP_LIT_USDC	−0.0577%	4h	4.7059	−0.227%	$32K	$2K	10x	as long as short
Phemex LITUSDTshort	−0.0414%	4h	4.7150	−0.034%	$1.3M	$2.7M	20x
KuCoin LITUSDTM	−0.0330%	4h	4.7181	+0.032%	$5.3M	$1.1M	30x	as long as short
Bullet LIT-USD	−0.0303%	1h	4.7188	+0.046%	$85K	$81K	20x	as long as short
OKX LIT-USDT-SWAP	−0.0301%	4h	4.7149	−0.036%	$24.9M	$60.6M	50x	as long as short
GRVT LIT_USDT_Perp	−0.0278%	4h	4.7360	+0.410%	$897K	$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	−0.0255%	4h	4.7155	−0.023%	$42.6M	$30.4M	75x	as long as short
Coinbase International LIT-PERP-INTX	−0.0152%	1h	4.7349	+0.387%	$653K	$399K	50x	as long as short
Nado LIT-PERP	−0.0150%	1h	4.7215	+0.104%	$2.1M	$1.7M	10x	as long as short
SoDEX LIT-USD	−0.0092%	1h	4.7112	−0.115%	$976	$484K	5x	as long as short
Extended LIT-USD	−0.0080%	1h	4.7135	−0.066%	$5.2M	$5.1M	25x	as long as short
Phoenix LIT	−0.0050%	1h	4.7435	+0.570%	$245K	$321K	5x	as long as short
Paradex LIT-USD-PERP	−0.0017%	8h	4.7116	−0.106%	$5K	$2K	5x	as long as short
dYdX LIT-USD	0.0000%	1h	4.7180	+0.030%	$34K	—	5x	as long as short
gTrade (Gains Network) LIT/USD	L +0.0003% / S −0.0003%	1h	4.7244	+0.165%	$35K	—	150x	as long as short
RISEx LIT/USDC	+0.0009%	1h	4.7186	+0.042%	$812K	$2.0M	5x	as long as short
Injective LIT/USDC PERP	+0.0033%	1h	4.8040	+1.853%	$422	$178K	5.5x	as long as short
MEXC LIT_USDT	+0.0036%	4h	4.7116	−0.106%	$5.8M	$4.2M	100x	as long as short
Binance LITUSDT	+0.0037%	4h	4.7136	−0.064%	$74.5M	$80.9M	75x	as long as short
Aevo LIT-PERP	+0.0048%	1h	4.7110	−0.118%	$147K	$44K	3x	as long as short
edgeX LITUSDC	+0.0051%	4h	4.7388	+0.471%	$288K	$312K	10x	as long as short
Polymarket Perps LIT-USD	+0.0070%	1h	4.7234	+0.144%	$446K	$105K	10x	as long as short
Bulk LIT-USD	+0.0077%	1h	4.7397	+0.490%	$119K	$7K	10x	as long as short
Lighter LIT	+0.0096%	1h	4.7216	+0.106%	$59.2M	$29.9M	5x	as long as short
Hyperliquid LIT	+0.0100%	1h	4.7170	+0.008%	$209.6M	$44.6M	5x	as long as short
Aster LITUSDT	+0.0100%	4h	4.7181	+0.032%	$12.6M	$2.5M	50x	as long as short
Pacifica LIT	+0.0100%	1h	4.7165	−0.002%	$592K	$1.8M	10x	as long as short
Arcus LIT-USD	+0.0100%	1h	4.7163	−0.006%	$118K	$442K	5x	as long as short
Bitget LITUSDT	+0.0100%	4h	4.7180	+0.030%	$6.7M	$2.7M	20x	as long as short
ApeX Omni LITUSDT	+0.0100%	1h	4.7450	+0.602%	$56K	$77K	50x	as long as short
Derive LIT-PERPlong	+0.0100%	1h	4.7166	long leg	$2K	$1K	6.7x
SunX LIT-USDT	+0.0100%	4h	4.7151	−0.032%	$4K	$1.2M	20x	as long as short
HTX LIT-USDT	+0.0100%	4h	4.7273	+0.227%	$189K	$327K	30x	as long as short
Perpl LIT	+0.0112%	43m	4.7268	+0.217%	$31K	$844K	33x	as long as short
BloFin LIT-USDT	+0.0147%	4h	4.7025	−0.299%	$1.5M	$2.0M	75x	as long as short
Aftermath Perps LITUSD	+0.0185%	1h	4.7458	+0.619%	$11K	$198K	10x	as long as short
Lighter RH LIT	+0.0328%	1h	4.7229	+0.133%	$3.7M	$14.1M	5x	as long as short
GMX LIT/USD [ETH-USDC]	L +0.0387% / S −0.0190%	1h	4.7234	+0.144%	$59K	—	50x	as long as short