Funding arb · Price arb /

LIT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0126%/8h= −13.8% APRpaid last 24h −0.021%

Price spread now: Phoenix against edgeX+0.316%7-day average +0.135% · you sell dearer than you buy

Net, funding: paid 7d − costs−$44as in the Funding arb table

Net, price: spread back to 7d avg − costs−$36as in the Price arb table

costs, in and out, $10k−$540.543% of the position

Long on edgeX Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.106%+$11 on $10k

Price spread, last 3 days (all we have)+1.216%+$122 · spread now +0.316%, 7d avg +0.135%

Together, before fees+1.322%+ Points / potential airdropedgeX: Active · farm board+$132 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phoenix is 0.181% dearer against edgeX than usual: you sell high and buy low (spread +0.316% now, against its 7-day average of +0.135%): +$18 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 4.8 days. Mind the row above: over the last 7 days funding on this pair paid +0.106%, 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	edgeX LITUSDC	4.7527	0.0060	pay 0.0030% / 4h	2h 54m	$289K	$310K	10x
Short	Phoenix LIT	4.7677	−0.0067	pay 0.0008% / 1h	54m 08s	$246K	$321K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against edgeX. 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 edgeXbpFee PhoenixbpOrdersPrice spread, now +0.316%Rate

Funding earned: −$26.56
Price spread: +0.316% → +0.135%: $18.11
Slippage, 4 orders: −$38.28
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$62.72
Costs to cover: 0.543%
Break-even: never at this rate

Slippage from edgeX: live order book, 34 min ago; Phoenix: live order book, 31 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 edgeX live order book, 34 min ago	5.18 bp	10.5 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell Phoenix live order book, 31 min ago	2.07 bp	16.1 bp −$16	50.2 bp −$502	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	−0.0847%	1h	4.7435	−0.193%	$42K	$40K	10x	as long as short
01 Exchange LITUSD	−0.0720%	1h	4.7407	−0.252%	$33K	$4K	5x	as long as short
Orderly PERP_LIT_USDC	−0.0565%	4h	4.7362	−0.347%	$32K	$2K	10x	as long as short
Backpack LIT_USDC_PERP	−0.0514%	1h	4.7486	−0.086%	$667K	$1.5M	5x	as long as short
Phemex LITUSDT	−0.0484%	4h	4.7440	−0.183%	$1.3M	$2.7M	20x	as long as short
Bullet LIT-USD	−0.0352%	1h	4.7414	−0.237%	$85K	$81K	20x	as long as short
KuCoin LITUSDTM	−0.0334%	4h	4.7464	−0.132%	$5.3M	$1.1M	30x	as long as short
Gate LIT_USDT	−0.0332%	4h	4.7420	−0.225%	$2.8M	$4.5M	50x	as long as short
OKX LIT-USDT-SWAP	−0.0292%	4h	4.7430	−0.204%	$25.2M	$60.6M	50x	as long as short
GRVT LIT_USDT_Perp	−0.0274%	4h	4.7490	−0.077%	$896K	$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	−0.0239%	4h	4.7440	−0.183%	$42.8M	$30.1M	75x	as long as short
Nado LIT-PERP	−0.0187%	1h	4.7420	−0.224%	$2.1M	$1.7M	10x	as long as short
SoDEX LIT-USD	−0.0180%	1h	4.7443	−0.177%	$983	$474K	5x	as long as short
Coinbase International LIT-PERP-INTX	−0.0152%	1h	4.8452	+1.947%	$668K	$408K	50x	as long as short
Phoenix LITshort	−0.0067%	1h	4.7677	+0.316%	$246K	$321K	5x
Extended LIT-USD	−0.0048%	1h	4.7419	−0.228%	$5.2M	$5.2M	25x	as long as short
Paradex LIT-USD-PERP	−0.0017%	8h	4.7400	−0.266%	$5K	$1K	5x	as long as short
dYdX LIT-USD	0.0000%	1h	4.7510	−0.036%	$34K	—	5x	as long as short
gTrade (Gains Network) LIT/USD	L +0.0003% / S −0.0003%	1h	4.7461	−0.139%	$35K	—	150x	as long as short
RISEx LIT/USDC	+0.0009%	1h	4.7469	−0.122%	$815K	$2.0M	5x	as long as short
Polymarket Perps LIT-USD	+0.0030%	1h	4.7428	−0.208%	$448K	$104K	10x	as long as short
Injective LIT/USDC PERP	+0.0033%	1h	4.8040	+1.080%	$422	$178K	5.5x	as long as short
Binance LITUSDT	+0.0053%	4h	4.7406	−0.255%	$74.9M	$80.6M	75x	as long as short
MEXC LIT_USDT	+0.0054%	4h	4.7412	−0.242%	$5.9M	$4.2M	100x	as long as short
edgeX LITUSDClong	+0.0060%	4h	4.7527	long leg	$289K	$310K	10x
Aevo LIT-PERP	+0.0072%	1h	4.7391	−0.286%	$148K	$44K	3x	as long as short
ApeX Omni LITUSDT	+0.0083%	1h	4.7490	−0.078%	$56K	$78K	50x	as long as short
Bulk LIT-USD	+0.0088%	1h	4.7627	+0.211%	$119K	$7K	10x	as long as short
Hyperliquid LIT	+0.0100%	1h	4.7475	−0.109%	$210.9M	$44.3M	5x	as long as short
Aster LITUSDT	+0.0100%	4h	4.7477	−0.105%	$12.7M	$2.5M	50x	as long as short
Pacifica LIT	+0.0100%	1h	4.7494	−0.068%	$596K	$1.8M	10x	as long as short
Arcus LIT-USD	+0.0100%	1h	4.7429	−0.206%	$118K	$446K	5x	as long as short
Bitget LITUSDT	+0.0100%	4h	4.7440	−0.183%	$6.7M	$2.7M	20x	as long as short
Derive LIT-PERP	+0.0100%	1h	4.7467	−0.126%	$2K	$1K	6.7x	as long as short
SunX LIT-USDT	+0.0100%	4h	4.7472	−0.116%	$4K	$1.2M	20x	as long as short
HTX LIT-USDT	+0.0100%	4h	4.7465	−0.130%	$189K	$331K	30x	as long as short
Perpl LIT	+0.0112%	43m	4.7486	−0.086%	$31K	$842K	33x	as long as short
Lighter LIT	+0.0120%	1h	4.7517	−0.021%	$59.6M	$29.5M	5x	as long as short
Lighter RH LIT	+0.0160%	1h	4.7529	+0.004%	$3.7M	$14.0M	5x	as long as short
Aftermath Perps LITUSD	+0.0161%	1h	4.7644	+0.247%	$11K	$198K	10x	as long as short
BloFin LIT-USDT	+0.0218%	4h	4.7425	−0.214%	$1.5M	$2.0M	75x	as long as short
GMX LIT/USD [ETH-USDC]	L +0.0388% / S −0.0190%	1h	4.7459	−0.143%	$60K	—	50x	as long as short