Funding arb · Price arb /

LIT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0823%/8h= −90.1% APRpaid last 24h −0.158%

Price spread now: Phemex against GMX−0.128%7-day average — · you buy dearer than you sell

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

Long on GMX 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 −$25 a day on $10k at the current rate, and Phemex is 0.128% cheaper against GMX than usual: you would sell low and buy high (−$13 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	GMX LIT/USD [ETH-USDC]	4.7511	L +0.0359% / S −0.0155%	pay 0.0045% / 1h	30m 26s	$60K	—	50x
Short	Phemex LITUSDT	4.7450	−0.0464	pay 0.0232% / 4h	2h 30m	$1.3M	$2.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against GMX. 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 GMXbpFee PhemexbpOrdersPrice spread, now −0.128%Rate

Funding earned: −$172.83
Price spread: −0.128% → 0.000%: −$12.82
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$209.66
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Phemex: live order book, 3 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 GMX no order-book sample	—	—	—	—	—
Sell Phemex live order book, 3 min ago	6.34 bp	30.1 bp −$30	doesn't fit	doesn't fit	doesn't fit

GMX: 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	−0.0913%	1h	4.7480	−0.066%	$42K	$40K	10x	as long as short
Gate LIT_USDT	−0.0694%	4h	4.7490	−0.044%	$2.8M	$4.5M	50x	as long as short
Orderly PERP_LIT_USDC	−0.0595%	4h	4.7424	−0.183%	$32K	$2K	10x	as long as short
01 Exchange LITUSD	−0.0576%	1h	4.7447	−0.135%	$33K	$4K	5x	as long as short
Phemex LITUSDTshort	−0.0464%	4h	4.7450	−0.128%	$1.3M	$2.7M	20x
Backpack LIT_USDC_PERP	−0.0437%	1h	4.7517	+0.013%	$667K	$1.5M	5x	as long as short
Bullet LIT-USD	−0.0379%	1h	4.7484	−0.058%	$86K	$81K	20x	as long as short
OKX LIT-USDT-SWAP	−0.0304%	4h	4.7503	−0.017%	$24.9M	$61.6M	50x	as long as short
GRVT LIT_USDT_Perp	−0.0304%	4h	4.7340	−0.361%	$891K	$1.9M	10x	as long as short
Bybit LITUSDT	−0.0304%	4h	4.7491	−0.042%	$43.0M	$30.5M	75x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin LITUSDTM	−0.0294%	4h	4.7485	−0.055%	$5.3M	$1.1M	30x	as long as short
Coinbase International LIT-PERP-INTX	−0.0152%	1h	4.7487	−0.051%	$657K	$402K	50x	as long as short
Phoenix LIT	−0.0050%	1h	4.7438	−0.153%	$245K	$321K	5x	as long as short
Paradex LIT-USD-PERP	−0.0030%	8h	4.7459	−0.109%	$6K	$2K	5x	as long as short
SoDEX LIT-USD	−0.0024%	1h	4.7466	−0.095%	$993	$487K	5x	as long as short
Extended LIT-USD	−0.0024%	1h	4.7470	−0.086%	$5.2M	$5.1M	25x	as long as short
dYdX LIT-USD	0.0000%	1h	4.7505	−0.012%	$34K	—	5x	as long as short
gTrade (Gains Network) LIT/USD	L +0.0003% / S −0.0003%	1h	4.7545	+0.072%	$35K	—	150x	as long as short
RISEx LIT/USDC	+0.0009%	1h	4.7527	+0.033%	$818K	$2.0M	5x	as long as short
Polymarket Perps LIT-USD	+0.0022%	1h	4.7511	0.000%	$449K	$105K	10x	as long as short
edgeX LITUSDC	+0.0026%	4h	4.7394	−0.247%	$288K	$311K	10x	as long as short
MEXC LIT_USDT	+0.0030%	4h	4.7475	−0.076%	$5.8M	$4.2M	100x	as long as short
Binance LITUSDT	+0.0032%	4h	4.7469	−0.088%	$75.0M	$81.1M	75x	as long as short
Injective LIT/USDC PERP	+0.0033%	1h	4.8040	+1.114%	$422	$178K	5.5x	as long as short
Bulk LIT-USD	+0.0037%	1h	4.7479	−0.067%	$119K	$6K	10x	as long as short
Nado LIT-PERP	+0.0040%	1h	4.7501	−0.020%	$2.1M	$1.7M	10x	as long as short
Aevo LIT-PERP	+0.0048%	1h	4.7462	−0.102%	$148K	$44K	3x	as long as short
Lighter LIT	+0.0096%	1h	4.7560	+0.103%	$59.6M	$30.0M	5x	as long as short
Hyperliquid LIT	+0.0100%	1h	4.7551	+0.084%	$211.2M	$45.0M	5x	as long as short
Aster LITUSDT	+0.0100%	4h	4.7542	+0.065%	$12.7M	$2.5M	50x	as long as short
Pacifica LIT	+0.0100%	1h	4.7512	+0.002%	$587K	$1.8M	10x	as long as short
Arcus LIT-USD	+0.0100%	1h	4.7498	−0.027%	$117K	$446K	5x	as long as short
Bitget LITUSDT	+0.0100%	4h	4.7510	−0.002%	$6.7M	$2.7M	20x	as long as short
ApeX Omni LITUSDT	+0.0100%	1h	4.7430	−0.170%	$56K	$77K	50x	as long as short
Derive LIT-PERP	+0.0100%	1h	4.7528	+0.035%	$2K	$1K	6.7x	as long as short
SunX LIT-USDT	+0.0100%	4h	4.7509	−0.004%	$4K	$1.2M	20x	as long as short
HTX LIT-USDT	+0.0100%	4h	4.7573	+0.131%	$190K	$329K	30x	as long as short
Perpl LIT	+0.0112%	43m	4.7533	+0.047%	$31K	$841K	33x	as long as short
BloFin LIT-USDT	+0.0123%	4h	4.7448	−0.132%	$1.5M	$2.0M	75x	as long as short
Aftermath Perps LITUSD	+0.0168%	1h	4.7438	−0.154%	$12K	$199K	10x	as long as short
GMX LIT/USD [ETH-USDC]long	L +0.0359% / S −0.0155%	1h	4.7511	long leg	$60K	—	50x
Lighter RH LIT	+0.0376%	1h	4.7575	+0.135%	$3.7M	$14.2M	5x	as long as short