Funding arb · Price arb /

LIT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h −0.044%

Price spread now: Bybit against Injective−2.560%48s7-day average +9.812% · you buy dearer than you sell

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

Long on Injective Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.010%+$1 on $10k

Price spread, last 4 days (all we have)+17.769%+$1,777 · spread now −2.560%, 7d avg +9.812%

Together, before fees+17.779%+$1,778 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bybit is 12.372% cheaper against Injective than usual: you would sell low and buy high (spread −2.560% now, against its 7-day average of +9.812%). If the spread goes back, that is −$1,237 on $10k: about 21 months of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.010% in total) that is about years. The two prices were read 48 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	Injective LIT/USDC PERP	4.8040	0.0033	pay 0.0004% / 1h	44m 34s	$422	$178K	5.5x
Short	Bybit LITUSDT	4.6810	0.0100	get 0.0050% / 4h	1h 44m	$41.5M	$28.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Injective. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 InjectivebpFee BybitbpOrdersPrice spread, now −2.560%Rate

Funding earned: $14
Price spread: −2.560% → +9.812%: −$1,237.23
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$1,234.25
Costs to cover: 0.110%
Break-even: 624.1 days

Slippage unknown: Injective: no order-book sample; Bybit: live order book, 4 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 Injective no order-book sample	—	—	—	—	—
Sell Bybit live order book, 4 min ago	3.21 bp	21.5 bp −$21	59.1 bp −$591	396.3 bp −$39.6K	doesn't fit

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Orderly PERP_LIT_USDC	−0.0398%	4h	4.6756	−2.673%	$32K	$1K	10x	as long as short
Deribit LIT_USDC-PERPETUAL	−0.0363%	1h	4.6815	−2.550%	$41K	$40K	10x	as long as short
Bullet LIT-USD	−0.0349%	1h	4.6805	−2.570%	$84K	$67K	20x	as long as short
01 Exchange LITUSD	−0.0296%	1h	4.6796	−2.590%	$33K	$4K	5x	as long as short
ApeX Omni LITUSDT	−0.0160%	1h	4.6710	−2.769%	$56K	$77K	50x	as long as short
Gate LIT_USDT	−0.0094%	4h	4.6810	−2.560%	$2.7M	$4.2M	50x	as long as short
Phoenix LIT	−0.0085%	1h	4.6728	−2.731%	$201K	$341K	5x	as long as short
Coinbase International LIT-PERP-INTX	−0.0024%	1h	4.6800	−2.582%	$657K	$372K	50x	as long as short
OKX LIT-USDT-SWAP	−0.0024%	4h	4.6853	−2.471%	$25.3M	$61.6M	50x	as long as short
KuCoin LITUSDTM	−0.0018%	4h	4.6783	−2.617%	$5.2M	$1.1M	30x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT LIT_USDT_Perp	−0.0016%	4h	4.6690	−2.810%	$905K	$1.7M	10x	as long as short
Phemex LITUSDT	−0.0015%	4h	4.6810	−2.560%	$1.4M	$2.8M	20x	as long as short
gTrade (Gains Network) LIT/USD	L +0.0003% / S −0.0002%	1h	4.6828	−2.522%	$11K	—	150x	as long as short
Backpack LIT_USDC_PERP	+0.0011%	1h	4.6859	−2.458%	$679K	$1.4M	5x	as long as short
dYdX LIT-USD	+0.0016%	1h	4.6811	−2.558%	$34K	—	5x	as long as short
Injective LIT/USDC PERPlong	+0.0033%	1h	4.8040	long leg	$422	$178K	5.5x
Paradex LIT-USD-PERP	+0.0064%	8h	4.6780	−2.623%	$7K	$2K	5x	as long as short
Bulk LIT-USD	+0.0089%	1h	4.6805	−2.570%	$117K	$2K	10x	as long as short
Lighter LIT	+0.0096%	1h	4.6854	−2.469%	$58.5M	$28.6M	5x	as long as short
RISEx LIT/USDC	+0.0099%	1h	4.6829	−2.521%	$781K	$2.0M	5x	as long as short
Nado LIT-PERP	+0.0100%	1h	4.6815	−2.550%	$2.2M	$1.7M	10x	as long as short
Hyperliquid LIT	+0.0100%	1h	4.6852	−2.473%	$209.3M	$41.2M	5x	as long as short
Pacifica LIT	+0.0100%	1h	4.6831	−2.516%	$581K	$1.6M	10x	as long as short
Binance LITUSDT	+0.0100%	4h	4.6800	−2.581%	$74.3M	$78.6M	75x	as long as short
Bybit LITUSDTshort	+0.0100%	4h	4.6810	−2.560%	$41.5M	$28.6M	75x
Arcus LIT-USD	+0.0100%	1h	4.6800	−2.581%	$117K	$446K	5x	as long as short
MEXC LIT_USDT	+0.0100%	4h	4.6782	−2.619%	$5.4M	$3.9M	100x	as long as short
Bitget LITUSDT	+0.0100%	4h	4.6830	−2.519%	$6.7M	$2.6M	20x	as long as short
edgeX LITUSDC	+0.0100%	4h	4.6665	−2.863%	$284K	$306K	10x	as long as short
Polymarket Perps LIT-USD	+0.0100%	1h	4.6846	−2.485%	$443K	$104K	10x	as long as short
Derive LIT-PERP	+0.0100%	1h	4.6844	−2.490%	$2K	—	6.7x	as long as short
SunX LIT-USDT	+0.0100%	4h	4.6768	−2.648%	$4K	$1.1M	20x	as long as short
SoDEX LIT-USD	+0.0100%	1h	4.6815	−2.550%	$1K	$418K	5x	as long as short
HTX LIT-USDT	+0.0100%	4h	4.6874	−2.427%	$194K	$379K	30x	as long as short
Extended LIT-USD	+0.0104%	1h	4.6783	−2.617%	$5.1M	$5.0M	25x	as long as short
Aevo LIT-PERP	+0.0104%	1h	4.6794	−2.594%	$146K	—	3x	as long as short
Lighter RH LIT	+0.0128%	1h	4.6865	−2.446%	$3.7M	$13.1M	5x	as long as short
Aster LITUSDT	+0.0169%	4h	4.6874	−2.427%	$12.6M	$2.0M	50x	as long as short
Aftermath Perps LITUSD	+0.0251%	1h	4.6791	−2.600%	$9K	$210K	10x	as long as short
BloFin LIT-USDT	+0.0340%	4h	4.6784	−2.614%	$1.6M	$1.9M	75x	as long as short
GMX LIT/USD [ETH-USDC]	L +0.0409% / S −0.0206%	1h	4.6829	−2.521%	$63K	—	50x	as long as short
Perpl LIT	+0.0447%	43m	4.6840	−2.497%	$31K	$831K	33x	as long as short