Funding arb · Price arb /

LIT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0150%/8h= −16.4% APRpaid last 24h −0.022%

Price spread now: Phoenix against HTX+0.019%7-day average −0.031% · you sell dearer than you buy

Net, funding: paid 7d − costs−$98as in the Funding arb table

Net, price: spread back to 7d avg − costs−$92as in the Price arb table

costs, in and out, $10k−$970.968% of the position

Long on HTX Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days−0.012%−$1 on $10k

Price spread, last 3 days (all we have)+0.007%+$1 · spread now +0.019%, 7d avg −0.031%

Together, before fees−0.006%−$1 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phoenix is 0.050% dearer against HTX than usual: you sell high and buy low (spread +0.019% now, against its 7-day average of −0.031%): +$5 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 26 hours. At the pace of the last 7 days (−0.012% in total) that is about 28 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX LIT-USDT	4.7651	0.0100	pay 0.0050% / 4h	2h 15m	$191K	$329K	30x
Short	Phoenix LIT	4.7660	−0.0050	pay 0.0006% / 1h	15m 03s	$247K	$321K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now +0.019%Rate

Funding earned: −$31.55
Price spread: +0.019% → −0.031%: $4.96
Slippage, 4 orders: −$77.83
Fee HTX: 6 bp × 2 orders: −$12
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$123.42
Costs to cover: 0.968%
Break-even: never at this rate

Slippage from HTX: live order book, 7 min ago; Phoenix: live order book, 6 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, 7 min ago	18.14 bp	29.4 bp −$29	252.4 bp −$2,524	doesn't fit	doesn't fit
Sell Phoenix live order book, 6 min ago	2.10 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	−0.1042%	1h	4.7605	−0.097%	$42K	$40K	10x	as long as short
Orderly PERP_LIT_USDC	−0.0611%	4h	4.7562	−0.187%	$33K	$2K	10x	as long as short
Gate LIT_USDT	−0.0570%	4h	4.7620	−0.065%	$2.8M	$4.5M	50x	as long as short
Phemex LITUSDT	−0.0568%	4h	4.7580	−0.149%	$1.3M	$2.7M	20x	as long as short
01 Exchange LITUSD	−0.0560%	1h	4.7551	−0.210%	$33K	$4K	5x	as long as short
Bullet LIT-USD	−0.0344%	1h	4.7594	−0.120%	$86K	$81K	20x	as long as short
OKX LIT-USDT-SWAP	−0.0332%	4h	4.7584	−0.141%	$25.1M	$62.3M	50x	as long as short
Bybit LITUSDT	−0.0284%	4h	4.7590	−0.128%	$43.0M	$30.7M	75x	as long as short
KuCoin LITUSDTM	−0.0278%	4h	4.7656	+0.010%	$5.3M	$1.1M	30x	as long as short
GRVT LIT_USDT_Perp	−0.0250%	4h	4.7582	−0.145%	$901K	$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
Backpack LIT_USDC_PERP	−0.0244%	1h	4.7637	−0.029%	$669K	$1.5M	5x	as long as short
Coinbase International LIT-PERP-INTX	−0.0152%	1h	4.7721	+0.147%	$660K	$404K	50x	as long as short
Aftermath Perps LITUSD	−0.0067%	1h	4.7610	−0.086%	$12K	$199K	10x	as long as short
Phoenix LITshort	−0.0050%	1h	4.7660	+0.019%	$247K	$321K	5x
Paradex LIT-USD-PERP	−0.0024%	8h	4.7563	−0.184%	$6K	$2K	5x	as long as short
SoDEX LIT-USD	−0.0020%	1h	4.7594	−0.120%	$1K	$487K	5x	as long as short
dYdX LIT-USD	0.0000%	1h	4.7647	−0.009%	$34K	—	5x	as long as short
gTrade (Gains Network) LIT/USD	L +0.0003% / S −0.0003%	1h	4.7659	+0.017%	$35K	—	150x	as long as short
RISEx LIT/USDC	+0.0009%	1h	4.7639	−0.025%	$830K	$2.0M	5x	as long as short
Polymarket Perps LIT-USD	+0.0021%	1h	4.7612	−0.082%	$450K	$105K	10x	as long as short
Nado LIT-PERP	+0.0022%	1h	4.7585	−0.139%	$2.2M	$1.7M	10x	as long as short
Injective LIT/USDC PERP	+0.0033%	1h	4.8040	+0.816%	$422	$178K	5.5x	as long as short
MEXC LIT_USDT	+0.0044%	4h	4.7565	−0.180%	$5.8M	$4.2M	100x	as long as short
Binance LITUSDT	+0.0045%	4h	4.7566	−0.178%	$75.3M	$81.4M	75x	as long as short
edgeX LITUSDC	+0.0046%	4h	4.7599	−0.110%	$290K	$312K	10x	as long as short
Aevo LIT-PERP	+0.0064%	1h	4.7581	−0.147%	$149K	$44K	3x	as long as short
Lighter LIT	+0.0096%	1h	4.7689	+0.080%	$59.8M	$30.1M	5x	as long as short
Hyperliquid LIT	+0.0100%	1h	4.7701	+0.105%	$212.4M	$45.4M	5x	as long as short
Aster LITUSDT	+0.0100%	4h	4.7679	+0.060%	$12.7M	$2.5M	50x	as long as short
Pacifica LIT	+0.0100%	1h	4.7640	−0.023%	$587K	$1.8M	10x	as long as short
Arcus LIT-USD	+0.0100%	1h	4.7609	−0.088%	$117K	$449K	5x	as long as short
Bitget LITUSDT	+0.0100%	4h	4.7630	−0.044%	$6.8M	$2.7M	20x	as long as short
ApeX Omni LITUSDT	+0.0100%	1h	4.7650	−0.002%	$56K	$78K	50x	as long as short
Derive LIT-PERP	+0.0100%	1h	4.7654	+0.005%	$2K	$1K	6.7x	as long as short
SunX LIT-USDT	+0.0100%	4h	4.7624	−0.057%	$4K	$1.2M	20x	as long as short
HTX LIT-USDTlong	+0.0100%	4h	4.7651	long leg	$191K	$329K	30x
Bulk LIT-USD	+0.0100%	1h	4.7454	−0.413%	$119K	$6K	10x	as long as short
Extended LIT-USD	+0.0104%	1h	4.7579	−0.151%	$5.3M	$5.2M	25x	as long as short
Perpl LIT	+0.0112%	43m	4.7665	+0.030%	$32K	$839K	33x	as long as short
BloFin LIT-USDT	+0.0182%	4h	4.7612	−0.082%	$1.5M	$2.1M	75x	as long as short
GMX LIT/USD [ETH-USDC]	L +0.0359% / S −0.0155%	1h	4.7651	0.000%	$60K	—	50x	as long as short
Lighter RH LIT	+0.0432%	1h	4.7711	+0.126%	$3.8M	$14.2M	5x	as long as short