Funding arb · Price arb /

LIT

all LIT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0504%/8h= −55.2% APRpaid last 24h −0.102%

Price spread now: Phemex against Hyperliquid−0.247%7-day average −0.143% · you buy dearer than you sell

Net, funding: paid 7d − costs−$125as in the Funding arb table

Net, price: spread back to 7d avg − costs−$97as in the Price arb table

costs, in and out, $10k−$860.861% of the position

Long on Hyperliquid Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.385%−$38 on $10k

Price spread, last 3 days (all we have)+0.027%+$3 · spread now −0.247%, 7d avg −0.143%

Together, before fees−0.358%+ Points / potential airdropHyperliquid: Season 2 · farm board−$36 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$15 a day on $10k at the current rate, and Phemex is 0.104% cheaper against Hyperliquid than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of −0.143%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid LIT	4.7347	0.0199	pay 0.0025% / 1h	11m 10s	$212.3M	$45.0M	5x
Short	Phemex LITUSDT	4.7230	−0.0305	pay 0.0152% / 4h	11m 10s	$1.4M	$2.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.247%Rate

Funding earned: −$105.81
Price spread: −0.247% → −0.143%: −$10.4
Slippage, 4 orders: −$65.12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$202.33
Costs to cover: 0.861%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 13 min ago; Phemex: live order book, 2 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 Hyperliquid live order book, 13 min ago	0.11 bp	9.0 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell Phemex live order book, 2 min ago	7.42 bp	33.4 bp −$33	doesn't fit	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
Gate LIT_USDT	−0.0820%	4h	4.7270	−0.163%	$2.8M	$4.6M	50x	as long as short
Deribit LIT_USDC-PERPETUAL	−0.0805%	1h	4.7245	−0.215%	$41K	$40K	10x	as long as short
Orderly PERP_LIT_USDC	−0.0544%	4h	4.7199	−0.313%	$32K	$2K	10x	as long as short
01 Exchange LITUSD	−0.0536%	1h	4.7136	−0.446%	$33K	$4K	5x	as long as short
Bullet LIT-USD	−0.0347%	1h	4.7245	−0.215%	$84K	$78K	20x	as long as short
OKX LIT-USDT-SWAP	−0.0342%	4h	4.7262	−0.180%	$25.6M	$63.9M	50x	as long as short
Phemex LITUSDTshort	−0.0305%	4h	4.7230	−0.247%	$1.4M	$2.7M	20x
KuCoin LITUSDTM	−0.0176%	4h	4.7265	−0.173%	$5.2M	$1.1M	30x	as long as short
Coinbase International LIT-PERP-INTX	−0.0120%	1h	4.7608	+0.552%	$673K	$402K	50x	as long as short
GRVT LIT_USDT_Perp	−0.0068%	4h	4.7229	−0.249%	$905K	$1.8M	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix LIT	−0.0050%	1h	4.7285	−0.131%	$205K	$353K	5x	as long as short
Perpl LIT	0.0000%	43m	4.7241	−0.223%	$32K	$852K	33x	as long as short
dYdX LIT-USD	0.0000%	1h	4.7281	−0.138%	$34K	—	5x	as long as short
gTrade (Gains Network) LIT/USD	L +0.0003% / S −0.0003%	1h	4.7293	−0.114%	$35K	—	150x	as long as short
RISEx LIT/USDC	+0.0012%	1h	4.7249	−0.207%	$817K	$2.1M	5x	as long as short
Paradex LIT-USD-PERP	+0.0031%	8h	4.7212	−0.286%	$7K	$2K	5x	as long as short
Injective LIT/USDC PERP	+0.0033%	1h	4.8040	+1.464%	$422	$178K	5.5x	as long as short
Bybit LITUSDT	+0.0036%	4h	4.7259	−0.186%	$42.6M	$30.2M	75x	as long as short
Lighter LIT	+0.0096%	1h	4.7297	−0.106%	$59.1M	$30.6M	5x	as long as short
Nado LIT-PERP	+0.0100%	1h	4.7245	−0.215%	$2.2M	$1.7M	10x	as long as short
Aster LITUSDT	+0.0100%	4h	4.7328	−0.040%	$12.6M	$2.4M	50x	as long as short
Pacifica LIT	+0.0100%	1h	4.7264	−0.175%	$588K	$1.7M	10x	as long as short
Binance LITUSDT	+0.0100%	4h	4.7221	−0.267%	$75.3M	$82.0M	75x	as long as short
Arcus LIT-USD	+0.0100%	1h	4.7231	−0.245%	$120K	$459K	5x	as long as short
Bulk LIT-USD	+0.0100%	1h	4.7316	−0.065%	$118K	$2K	10x	as long as short
MEXC LIT_USDT	+0.0100%	4h	4.7222	−0.264%	$5.6M	$4.1M	100x	as long as short
Bitget LITUSDT	+0.0100%	4h	4.7270	−0.163%	$6.7M	$2.8M	20x	as long as short
Backpack LIT_USDC_PERP	+0.0100%	1h	4.7294	−0.112%	$681K	$1.4M	5x	as long as short
edgeX LITUSDC	+0.0100%	4h	4.7244	−0.217%	$287K	$309K	10x	as long as short
ApeX Omni LITUSDT	+0.0100%	1h	4.7240	−0.226%	$55K	$77K	50x	as long as short
Polymarket Perps LIT-USD	+0.0100%	1h	4.7261	−0.182%	$447K	$105K	10x	as long as short
Derive LIT-PERP	+0.0100%	1h	4.7276	−0.149%	$2K	—	6.7x	as long as short
SunX LIT-USDT	+0.0100%	4h	4.7221	−0.266%	$4K	$1.2M	20x	as long as short
SoDEX LIT-USD	+0.0100%	1h	4.7251	−0.203%	$989	$471K	5x	as long as short
HTX LIT-USDT	+0.0100%	4h	4.7251	−0.203%	$189K	$346K	30x	as long as short
Extended LIT-USD	+0.0104%	1h	4.7236	−0.235%	$5.2M	$5.2M	25x	as long as short
Aevo LIT-PERP	+0.0104%	1h	4.7226	−0.256%	$148K	$44K	3x	as long as short
Aftermath Perps LITUSD	+0.0188%	1h	4.7297	−0.106%	$13K	$203K	10x	as long as short
Lighter RH LIT	+0.0192%	1h	4.7322	−0.053%	$3.7M	$14.0M	5x	as long as short
Hyperliquid LITlong	+0.0199%	1h	4.7347	long leg	$212.3M	$45.0M	5x
BloFin LIT-USDT	+0.0340%	4h	4.7232	−0.243%	$1.6M	$2.1M	75x	as long as short
GMX LIT/USD [ETH-USDC]	L +0.0377% / S −0.0169%	1h	4.7276	−0.149%	$62K	—	50x	as long as short