Funding arb · Price arb /

LIT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0162%/8h= −17.8% APRpaid last 24h −0.046%

Price spread now: Phemex against dYdX−0.188%7-day average — · you buy dearer than you sell

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

Long on dYdX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 6 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 −$5 a day on $10k at the current rate, and Phemex is 0.188% cheaper against dYdX than usual: you would sell low and buy high (−$19 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	dYdX LIT-USD	4.8471	0	get 0.0000% / 1h	18m 31s	$35K	—	5x
Short	Phemex LITUSDT	4.8380	−0.0162	pay 0.0081% / 4h	2h 18m	$1.4M	$2.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against dYdX. 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 dYdXbpFee PhemexbpOrdersPrice spread, now −0.188%Rate

Funding earned: −$34.12
Price spread: −0.188% → 0.000%: −$18.83
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$74.95
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: dYdX: no order-book sample; Phemex: live order book, 5 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 dYdX no order-book sample	—	—	—	—	—
Sell Phemex live order book, 5 min ago	6.28 bp	33.3 bp −$33	doesn't fit	doesn't fit	doesn't fit

dYdX: 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
Coinbase International LIT-PERP-INTX	−0.0448%	1h	4.8470	−0.002%	$613K	$370K	50x	as long as short
Orderly PERP_LIT_USDC	−0.0354%	4h	4.8324	−0.304%	$33K	$1K	10x	as long as short
Deribit LIT_USDC-PERPETUAL	−0.0267%	1h	4.8369	−0.211%	$42K	$40K	10x	as long as short
01 Exchange LITUSD	−0.0216%	1h	4.8602	+0.270%	$32K	$4K	5x	as long as short
Bullet LIT-USD	−0.0171%	1h	4.8359	−0.232%	$87K	$66K	20x	as long as short
Phemex LITUSDTshort	−0.0162%	4h	4.8380	−0.188%	$1.4M	$2.8M	20x
GRVT LIT_USDT_Perp	−0.0144%	4h	4.7790	−1.406%	$891K	$1.9M	10x	as long as short
OKX LIT-USDT-SWAP	−0.0141%	4h	4.8611	+0.288%	$26.1M	$62.8M	50x	as long as short
Phoenix LIT	−0.0017%	1h	4.8141	−0.681%	$207K	$283K	5x	as long as short
RISEx LIT/USDC	−0.0012%	1h	4.8608	+0.282%	$845K	$2.2M	5x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX LIT-USDlong	0.0000%	1h	4.8471	long leg	$35K	—	5x
gTrade (Gains Network) LIT/USD	L +0.0003% / S −0.0002%	1h	4.8401	−0.145%	$12K	—	150x	as long as short
Injective LIT/USDC PERP	+0.0033%	1h	4.8040	−0.890%	$422	$178K	5.5x	as long as short
KuCoin LITUSDTM	+0.0046%	4h	4.8432	−0.081%	$5.5M	$1.0M	30x	as long as short
Bybit LITUSDT	+0.0058%	4h	4.8620	+0.307%	$42.2M	$28.8M	75x	as long as short
Paradex LIT-USD-PERP	+0.0094%	8h	4.8413	−0.120%	$7K	$2K	5x	as long as short
Lighter LIT	+0.0096%	1h	4.8480	+0.018%	$60.4M	$28.2M	5x	as long as short
Nado LIT-PERP	+0.0100%	1h	4.8390	−0.168%	$2.2M	$1.7M	10x	as long as short
Pacifica LIT	+0.0100%	1h	4.8465	−0.012%	$620K	$1.7M	10x	as long as short
Binance LITUSDT	+0.0100%	4h	4.8614	+0.295%	$78.1M	$77.3M	75x	as long as short
Arcus LIT-USD	+0.0100%	1h	4.8609	+0.284%	$116K	$465K	5x	as long as short
Bulk LIT-USD	+0.0100%	1h	4.7822	−1.339%	$119K	$7K	10x	as long as short
Gate LIT_USDT	+0.0100%	4h	4.8420	−0.106%	$2.8M	$4.2M	50x	as long as short
MEXC LIT_USDT	+0.0100%	4h	4.8510	+0.080%	$6.0M	$3.9M	100x	as long as short
Bitget LITUSDT	+0.0100%	4h	4.8610	+0.286%	$6.9M	$2.5M	20x	as long as short
Backpack LIT_USDC_PERP	+0.0100%	1h	4.8375	−0.199%	$678K	$1.1M	5x	as long as short
edgeX LITUSDC	+0.0100%	4h	4.8045	−0.878%	$294K	$304K	10x	as long as short
ApeX Omni LITUSDT	+0.0100%	1h	4.7750	−1.488%	$57K	$74K	50x	as long as short
Polymarket Perps LIT-USD	+0.0100%	1h	4.8414	−0.118%	$455K	$84K	10x	as long as short
Derive LIT-PERP	+0.0100%	1h	4.8389	−0.169%	$2K	—	6.7x	as long as short
SunX LIT-USDT	+0.0100%	4h	4.8344	−0.263%	$4K	$1.1M	20x	as long as short
SoDEX LIT-USD	+0.0100%	1h	4.8357	−0.236%	$1K	$335K	5x	as long as short
HTX LIT-USDT	+0.0100%	4h	4.8450	−0.044%	$201K	$342K	30x	as long as short
Extended LIT-USD	+0.0104%	1h	4.8563	+0.189%	$5.3M	$5.0M	25x	as long as short
Aevo LIT-PERP	+0.0104%	1h	4.8372	−0.204%	$151K	—	3x	as long as short
Hyperliquid LIT	+0.0177%	1h	4.8524	+0.109%	$218.0M	$40.6M	5x	as long as short
Lighter RH LIT	+0.0192%	1h	4.8500	+0.059%	$3.7M	$13.3M	5x	as long as short
Aster LITUSDT	+0.0227%	4h	4.8672	+0.414%	$13.0M	$2.0M	50x	as long as short
Aftermath Perps LITUSD	+0.0280%	1h	4.7988	−0.997%	$15K	$211K	10x	as long as short
BloFin LIT-USDT	+0.0340%	4h	4.8370	−0.209%	$1.6M	$2.1M	75x	as long as short
GMX LIT/USD [ETH-USDC]	L +0.0428% / S −0.0217%	1h	4.8389	−0.171%	$65K	—	50x	as long as short
Perpl LIT	+0.0447%	43m	4.8423	−0.099%	$33K	$684K	33x	as long as short