Funding arb · Price arb /

LIT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.039%

Price spread now: Bulk against Hyperliquid+0.312%50s7-day average −0.086% · you sell dearer than you buy

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

Long on Hyperliquid Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.209%−$21 on $10k

Price spread, last 4 days (all we have)−1.132%−$113 · spread now +0.312%, 7d avg −0.086%

Together, before fees−1.342%+ Points / potential airdropHyperliquid: Season 2 · farm board−$134 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: Bulk is 0.398% dearer against Hyperliquid than usual: you sell high and buy low, +$40 on $10k if it goes back to its 7-day average of −0.086%. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid LIT	4.6740	0.0100	pay 0.0013% / 1h	57m 45s	$208.9M	$41.9M	5x
Short	Bulk LIT-USD	4.6886	0.0100	get 0.0013% / 1h	57m 45s	$117K	$973	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk against Hyperliquid. 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 HyperliquidbpFee BulkbpOrdersPrice spread, now +0.312%Rate

Funding earned: $0
Price spread: +0.312% → −0.086%: $39.8
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: $23.8
Costs to cover: 0.160%
Break-even: from the start

Slippage unknown: Hyperliquid: live order book, 6 min ago; Bulk: live order book, 1 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 Hyperliquid live order book, 6 min ago	0.21 bp	8.1 bp −$8	doesn't fit	doesn't fit	doesn't fit
Sell Bulk live order book, 1 min ago	0.32 bp	7.6 bp −$8	17.5 bp −$175	49.9 bp −$4,993	115.9 bp −$57.9K

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	−0.0677%	1h	4.6781	+0.088%	$41K	$40K	10x	as long as short
Orderly PERP_LIT_USDC	−0.0382%	4h	4.6729	−0.024%	$32K	$1K	10x	as long as short
Bullet LIT-USD	−0.0377%	1h	4.6779	+0.083%	$84K	$68K	20x	as long as short
01 Exchange LITUSD	−0.0272%	1h	4.6793	+0.113%	$33K	$4K	5x	as long as short
Coinbase International LIT-PERP-INTX	−0.0192%	1h	4.6848	+0.229%	$612K	$412K	50x	as long as short
Gate LIT_USDT	−0.0142%	4h	4.6770	+0.063%	$2.7M	$4.2M	50x	as long as short
ApeX Omni LITUSDT	−0.0103%	1h	4.6750	+0.021%	$56K	$76K	50x	as long as short
Phoenix LIT	−0.0085%	1h	4.6772	+0.068%	$201K	$288K	5x	as long as short
Polymarket Perps LIT-USD	−0.0080%	1h	4.6804	+0.136%	$437K	$110K	10x	as long as short
Phemex LITUSDT	−0.0063%	4h	4.6770	+0.063%	$1.4M	$2.8M	20x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit LITUSDT	−0.0006%	4h	4.6680	−0.129%	$41.4M	$28.4M	75x	as long as short
KuCoin LITUSDTM	−0.0002%	4h	4.6804	+0.136%	$5.2M	$1.0M	30x	as long as short
OKX LIT-USDT-SWAP	0.0000%	4h	4.6703	−0.080%	$25.1M	$61.3M	50x	as long as short
dYdX LIT-USD	0.0000%	1h	4.6722	−0.039%	$34K	—	5x	as long as short
gTrade (Gains Network) LIT/USD	L +0.0003% / S −0.0002%	1h	4.6827	+0.184%	$11K	—	150x	as long as short
Injective LIT/USDC PERP	+0.0033%	1h	4.8040	+2.780%	$422	$178K	5.5x	as long as short
Paradex LIT-USD-PERP	+0.0056%	8h	4.6677	−0.136%	$7K	$2K	5x	as long as short
RISEx LIT/USDC	+0.0073%	1h	4.6837	+0.207%	$781K	$2.1M	5x	as long as short
GRVT LIT_USDT_Perp	+0.0076%	4h	4.6778	+0.080%	$914K	$1.8M	10x	as long as short
Backpack LIT_USDC_PERP	+0.0080%	1h	4.6793	+0.113%	$663K	$1.4M	5x	as long as short
Lighter LIT	+0.0096%	1h	4.6738	−0.005%	$58.2M	$28.4M	5x	as long as short
Lighter RH LIT	+0.0096%	1h	4.6753	+0.027%	$3.6M	$13.1M	5x	as long as short
Nado LIT-PERP	+0.0100%	1h	4.6802	+0.131%	$2.2M	$1.7M	10x	as long as short
Hyperliquid LITlong	+0.0100%	1h	4.6740	long leg	$208.9M	$41.9M	5x
Pacifica LIT	+0.0100%	1h	4.6706	−0.074%	$580K	$1.6M	10x	as long as short
Binance LITUSDT	+0.0100%	4h	4.6685	−0.119%	$74.5M	$78.9M	75x	as long as short
Arcus LIT-USD	+0.0100%	1h	4.6833	+0.198%	$122K	$453K	5x	as long as short
MEXC LIT_USDT	+0.0100%	4h	4.6680	−0.129%	$5.5M	$3.8M	100x	as long as short
Bitget LITUSDT	+0.0100%	4h	4.6750	+0.021%	$6.7M	$2.6M	20x	as long as short
edgeX LITUSDC	+0.0100%	4h	4.6710	−0.064%	$284K	$305K	10x	as long as short
Derive LIT-PERP	+0.0100%	1h	4.6818	+0.166%	$2K	—	6.7x	as long as short
SunX LIT-USDT	+0.0100%	4h	4.6774	+0.072%	$5K	$1.2M	20x	as long as short
SoDEX LIT-USD	+0.0100%	1h	4.6790	+0.106%	$2K	$397K	5x	as long as short
HTX LIT-USDT	+0.0100%	4h	4.6892	+0.324%	$198K	$388K	30x	as long as short
Bulk LIT-USDshort	+0.0100%	1h	4.6886	+0.312%	$117K	$973	10x
Extended LIT-USD	+0.0104%	1h	4.6677	−0.136%	$5.2M	$5.0M	25x	as long as short
Aevo LIT-PERP	+0.0104%	1h	4.6809	+0.148%	$146K	—	3x	as long as short
Aftermath Perps LITUSD	+0.0190%	1h	4.6860	+0.256%	$9K	$206K	10x	as long as short
Aster LITUSDT	+0.0201%	4h	4.6811	+0.151%	$12.5M	$2.0M	50x	as long as short
BloFin LIT-USDT	+0.0340%	4h	4.6822	+0.175%	$1.5M	$1.9M	75x	as long as short
GMX LIT/USD [ETH-USDC]	L +0.0417% / S −0.0216%	1h	4.6810	+0.150%	$63K	—	50x	as long as short
Perpl LIT	+0.0447%	43m	4.6852	+0.239%	$31K	$795K	33x	as long as short