Funding arb · Price arb /

LIT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0034%/8h= +3.7% APRpaid last 24h +0.008%

Price spread now: Phoenix against GRVT−0.482%7-day average +0.194% · you buy dearer than you sell

Net, funding: paid 7d − costs−$21as in the Funding arb table

Net, price: spread back to 7d avg − costs−$134as in the Price arb table

costs, in and out, $10k−$660.659% of the position

Long on GRVT Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.453%+$45 on $10k

Price spread, last 4 days (all we have)+3.597%+$360 · spread now −0.482%, 7d avg +0.194%

Together, before fees+4.050%+ Points / potential airdropGRVT: Active · farm board+$405 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phoenix is 0.677% cheaper against GRVT than usual: you would sell low and buy high (spread −0.482% now, against its 7-day average of +0.194%). If the spread goes back, that is −$68 on $10k: about 2 months of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.453% in total) that is about 10 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT LIT_USDT_Perp	4.7050	−0.0136	get 0.0068% / 4h	2h 31m	$904K	$1.8M	10x
Short	Phoenix LIT	4.6823	−0.0102	pay 0.0013% / 1h	31m 54s	$202K	$352K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against GRVT. 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 GRVTbpFee PhoenixbpOrdersPrice spread, now −0.482%Rate

Funding earned: $7.14
Price spread: −0.482% → +0.194%: −$67.67
Slippage, 4 orders: −$49.91
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$126.44
Costs to cover: 0.659%
Break-even: 130.9 days

Slippage from GRVT: live order book, 1 min ago; Phoenix: live order book, 34 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 GRVT live order book, 1 min ago	3.19 bp	18.5 bp −$19	100.4 bp −$1,004	doesn't fit	doesn't fit
Sell Phoenix live order book, 34 min ago	2.10 bp	16.0 bp −$16	50.2 bp −$502	doesn't fit	doesn't fit

LIT on 41 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
01 Exchange LITUSD	−0.0608%	1h	4.7026	−0.051%	$33K	$4K	5x	as long as short
Deribit LIT_USDC-PERPETUAL	−0.0540%	1h	4.7077	+0.058%	$41K	$40K	10x	as long as short
Orderly PERP_LIT_USDC	−0.0462%	4h	4.7014	−0.077%	$32K	$2K	10x	as long as short
Bullet LIT-USD	−0.0439%	1h	4.7060	+0.022%	$84K	$73K	20x	as long as short
Gate LIT_USDT	−0.0204%	4h	4.7090	+0.085%	$2.8M	$4.3M	50x	as long as short
OKX LIT-USDT-SWAP	−0.0157%	4h	4.7054	+0.009%	$25.5M	$63.7M	50x	as long as short
KuCoin LITUSDTM	−0.0138%	4h	4.7080	+0.064%	$5.2M	$1.1M	30x	as long as short
GRVT LIT_USDT_Perplong	−0.0136%	4h	4.7050	long leg	$904K	$1.8M	10x
ApeX Omni LITUSDT	−0.0112%	1h	4.7030	−0.043%	$56K	$77K	50x	as long as short
Phoenix LITshort	−0.0102%	1h	4.6823	−0.482%	$202K	$352K	5x

Show all 41 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International LIT-PERP-INTX	−0.0080%	1h	4.7209	+0.338%	$668K	$387K	50x	as long as short
Backpack LIT_USDC_PERP	−0.0076%	1h	4.7076	+0.055%	$679K	$1.4M	5x	as long as short
dYdX LIT-USD	0.0000%	1h	4.7102	+0.112%	$34K	—	5x	as long as short
gTrade (Gains Network) LIT/USD	L +0.0003% / S 0.0000%	1h	4.7105	+0.117%	$471	—	150x	as long as short
Phemex LITUSDT	+0.0015%	4h	4.7050	0.000%	$1.4M	$2.7M	20x	as long as short
Bulk LIT-USD	+0.0030%	1h	4.6912	−0.294%	$117K	$1K	10x	as long as short
Injective LIT/USDC PERP	+0.0033%	1h	4.8040	+2.104%	$422	$178K	5.5x	as long as short
Paradex LIT-USD-PERP	+0.0035%	8h	4.7032	−0.038%	$7K	$2K	5x	as long as short
SoDEX LIT-USD	+0.0076%	1h	4.7078	+0.060%	$1K	$450K	5x	as long as short
RISEx LIT/USDC	+0.0081%	1h	4.7133	+0.176%	$788K	$2.0M	5x	as long as short
Lighter LIT	+0.0096%	1h	4.7106	+0.119%	$59.0M	$29.5M	5x	as long as short
Lighter RH LIT	+0.0096%	1h	4.7134	+0.179%	$3.7M	$13.3M	5x	as long as short
Nado LIT-PERP	+0.0100%	1h	4.7075	+0.053%	$2.2M	$1.7M	10x	as long as short
Hyperliquid LIT	+0.0100%	1h	4.7112	+0.132%	$210.8M	$43.9M	5x	as long as short
Aster LITUSDT	+0.0100%	4h	4.7133	+0.175%	$12.6M	$2.1M	50x	as long as short
Pacifica LIT	+0.0100%	1h	4.7082	+0.068%	$584K	$1.7M	10x	as long as short
Binance LITUSDT	+0.0100%	4h	4.7020	−0.064%	$75.0M	$80.7M	75x	as long as short
Bybit LITUSDT	+0.0100%	4h	4.7035	−0.032%	$42.2M	$29.7M	75x	as long as short
Arcus LIT-USD	+0.0100%	1h	4.7089	+0.083%	$116K	$448K	5x	as long as short
MEXC LIT_USDT	+0.0100%	4h	4.7021	−0.062%	$5.5M	$4.1M	100x	as long as short
Bitget LITUSDT	+0.0100%	4h	4.7080	+0.064%	$6.7M	$2.7M	20x	as long as short
edgeX LITUSDC	+0.0100%	4h	4.6972	−0.166%	$286K	$306K	10x	as long as short
Polymarket Perps LIT-USD	+0.0100%	1h	4.7086	+0.077%	$445K	$104K	10x	as long as short
Derive LIT-PERP	+0.0100%	1h	4.7121	+0.150%	$2K	—	6.7x	as long as short
SunX LIT-USDT	+0.0100%	4h	4.7118	+0.145%	$4K	$1.2M	20x	as long as short
HTX LIT-USDT	+0.0100%	4h	4.7215	+0.351%	$189K	$354K	30x	as long as short
Extended LIT-USD	+0.0104%	1h	4.7028	−0.048%	$5.2M	$5.1M	25x	as long as short
Aevo LIT-PERP	+0.0104%	1h	4.7051	+0.001%	$147K	—	3x	as long as short
Aftermath Perps LITUSD	+0.0291%	1h	4.7012	−0.081%	$9K	$212K	10x	as long as short
GMX LIT/USD [ETH-USDC]	L +0.0405% / S −0.0198%	1h	4.7093	+0.091%	$63K	—	50x	as long as short
Perpl LIT	+0.0447%	43m	4.7112	+0.132%	$31K	$862K	33x	as long as short