Funding arb · Price arb /

LIT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.026%

Price spread now: Backpack against HTX−0.130%7-day average −0.095% · you buy dearer than you sell

Net, funding: paid 7d − costs−$80as in the Funding arb table

Net, price: spread back to 7d avg − costs−$83as in the Price arb table

costs, in and out, $10k−$800.796% of the position

Long on HTX Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.006%−$1 on $10k

Price spread, last 4 days (all we have)+0.011%+$1 · spread now −0.130%, 7d avg −0.095%

Together, before fees+0.005%$0 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Backpack is 0.034% cheaper against HTX than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.095%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX LIT-USDT	4.7083	0.0100	pay 0.0050% / 4h	3h 34m	$199K	$358K	30x
Short	Backpack LIT_USDC_PERP	4.7022	0.0100	get 0.0013% / 1h	34m 23s	$659K	$1.4M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against HTX. 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 HTXbpFee BackpackbpOrdersPrice spread, now −0.130%Rate

Funding earned: $0
Price spread: −0.130% → −0.095%: −$3.42
Slippage, 4 orders: −$57.62
Fee HTX: 6 bp × 2 orders: −$12
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$83.04
Costs to cover: 0.796%
Break-even: never at this rate

Slippage from HTX: live order book, 18 min ago; Backpack: live order book, 5 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 HTX live order book, 18 min ago	17.36 bp	37.6 bp −$38	444.3 bp −$4,443	doesn't fit	doesn't fit
Sell Backpack live order book, 5 min ago	0.11 bp	8.5 bp −$9	19.9 bp −$199	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	−0.0543%	1h	4.6993	−0.191%	$41K	$40K	10x	as long as short
Orderly PERP_LIT_USDC	−0.0381%	4h	4.6942	−0.299%	$32K	$1K	10x	as long as short
Coinbase International LIT-PERP-INTX	−0.0304%	1h	4.6904	−0.380%	$613K	$352K	50x	as long as short
01 Exchange LITUSD	−0.0264%	1h	4.7008	−0.159%	$33K	$3K	5x	as long as short
Bullet LIT-USD	−0.0246%	1h	4.6994	−0.189%	$84K	$67K	20x	as long as short
ApeX Omni LITUSDT	−0.0108%	1h	4.7030	−0.113%	$56K	$76K	50x	as long as short
OKX LIT-USDT-SWAP	−0.0020%	4h	4.7004	−0.168%	$25.3M	$61.0M	50x	as long as short
Phoenix LIT	−0.0017%	1h	4.7057	−0.055%	$202K	$299K	5x	as long as short
RISEx LIT/USDC	−0.0008%	1h	4.7041	−0.089%	$792K	$2.2M	5x	as long as short
Nado LIT-PERP	−0.0004%	1h	4.7045	−0.080%	$2.2M	$1.7M	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX LIT-USD	0.0000%	1h	4.7062	−0.045%	$34K	—	5x	as long as short
gTrade (Gains Network) LIT/USD	L +0.0003% / S −0.0002%	1h	4.7036	−0.100%	$11K	—	150x	as long as short
KuCoin LITUSDTM	+0.0012%	4h	4.7005	−0.166%	$5.2M	$1.0M	30x	as long as short
Injective LIT/USDC PERP	+0.0033%	1h	4.8040	+2.033%	$422	$178K	5.5x	as long as short
GRVT LIT_USDT_Perp	+0.0042%	4h	4.6885	−0.420%	$900K	$1.8M	10x	as long as short
Bybit LITUSDT	+0.0072%	4h	4.7025	−0.123%	$41.1M	$29.1M	75x	as long as short
Phemex LITUSDT	+0.0078%	4h	4.6970	−0.240%	$1.3M	$2.8M	20x	as long as short
Paradex LIT-USD-PERP	+0.0079%	8h	4.6984	−0.209%	$6K	$2K	5x	as long as short
Lighter LIT	+0.0096%	1h	4.7094	+0.023%	$58.8M	$28.3M	5x	as long as short
Hyperliquid LIT	+0.0100%	1h	4.7084	+0.002%	$210.2M	$41.5M	5x	as long as short
Pacifica LIT	+0.0100%	1h	4.7052	−0.066%	$572K	$1.6M	10x	as long as short
Binance LITUSDT	+0.0100%	4h	4.7001	−0.173%	$75.4M	$79.2M	75x	as long as short
Arcus LIT-USD	+0.0100%	1h	4.7040	−0.091%	$115K	$446K	5x	as long as short
Bulk LIT-USD	+0.0100%	1h	4.6970	−0.240%	$117K	$8K	10x	as long as short
Gate LIT_USDT	+0.0100%	4h	4.7020	−0.134%	$2.7M	$4.2M	50x	as long as short
MEXC LIT_USDT	+0.0100%	4h	4.6998	−0.181%	$5.7M	$3.8M	100x	as long as short
Bitget LITUSDT	+0.0100%	4h	4.7020	−0.134%	$6.7M	$2.6M	20x	as long as short
Backpack LIT_USDC_PERPshort	+0.0100%	1h	4.7022	−0.130%	$659K	$1.4M	5x
edgeX LITUSDC	+0.0100%	4h	4.7006	−0.165%	$287K	$304K	10x	as long as short
Polymarket Perps LIT-USD	+0.0100%	1h	4.7020	−0.134%	$439K	$85K	10x	as long as short
Derive LIT-PERP	+0.0100%	1h	4.7024	−0.125%	$2K	—	6.7x	as long as short
SunX LIT-USDT	+0.0100%	4h	4.6994	−0.189%	$4K	$1.2M	20x	as long as short
SoDEX LIT-USD	+0.0100%	1h	4.6993	−0.191%	$1K	$374K	5x	as long as short
HTX LIT-USDTlong	+0.0100%	4h	4.7083	long leg	$199K	$358K	30x
Extended LIT-USD	+0.0104%	1h	4.6981	−0.216%	$5.1M	$5.1M	25x	as long as short
Aevo LIT-PERP	+0.0104%	1h	4.6977	−0.225%	$147K	—	3x	as long as short
Perpl LIT	+0.0112%	43m	4.7076	−0.015%	$31K	$745K	33x	as long as short
Aftermath Perps LITUSD	+0.0164%	1h	4.7053	−0.064%	$9K	$206K	10x	as long as short
Lighter RH LIT	+0.0232%	1h	4.7118	+0.074%	$3.7M	$13.2M	5x	as long as short
Aster LITUSDT	+0.0247%	4h	4.7107	+0.051%	$12.6M	$1.9M	50x	as long as short
BloFin LIT-USDT	+0.0340%	4h	4.6976	−0.227%	$1.6M	$1.9M	75x	as long as short
GMX LIT/USD [ETH-USDC]	L +0.0435% / S −0.0231%	1h	4.7031	−0.110%	$65K	—	50x	as long as short