Funding arb · Price arb /

LIT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0241%/8h= −26.3% APRpaid last 24h +0.019%

Price spread now: Backpack against KuCoin−0.034%7-day average +0.187% · you buy dearer than you sell

Net, funding: paid 7d − costs−$55as in the Funding arb table

Net, price: spread back to 7d avg − costs−$88as in the Price arb table

costs, in and out, $10k−$660.661% of the position

Long on KuCoin Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.112%+$11 on $10k

Price spread, last 7 days−0.520%−$52 · spread now −0.034%, 7d avg +0.187%

Together, before fees−0.408%−$41 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Backpack is 0.221% cheaper against KuCoin than usual: you would sell low and buy high (−$22 if the spread goes back to its 7-day average of +0.187%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.112%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.112% in total (about 5.8% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin LITUSDTM	4.7464	−0.0326	get 0.0163% / 4h	2h 51m	$5.3M	$1.1M	30x
Short	Backpack LIT_USDC_PERP	4.7448	−0.0567	pay 0.0071% / 1h	51m 07s	$666K	$1.5M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against KuCoin. 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 KuCoinbpFee BackpackbpOrdersPrice spread, now −0.034%Rate

Funding earned: −$50.51
Price spread: −0.034% → +0.187%: −$22.11
Slippage, 4 orders: −$44.07
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$138.69
Costs to cover: 0.661%
Break-even: never at this rate

Slippage from KuCoin: live order book, 2 min ago; Backpack: live order book, 3 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 KuCoin live order book, 2 min ago	7.80 bp	27.8 bp −$28	459.1 bp −$4,591	doesn't fit	doesn't fit
Sell Backpack live order book, 3 min ago	1.26 bp	6.7 bp −$7	17.2 bp −$172	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	−0.1161%	1h	4.7413	−0.107%	$42K	$40K	10x	as long as short
01 Exchange LITUSD	−0.0656%	1h	4.7346	−0.249%	$33K	$4K	5x	as long as short
Orderly PERP_LIT_USDC	−0.0569%	4h	4.7364	−0.211%	$32K	$2K	10x	as long as short
Backpack LIT_USDC_PERPshort	−0.0567%	1h	4.7448	−0.034%	$666K	$1.5M	5x
Phemex LITUSDT	−0.0449%	4h	4.7390	−0.156%	$1.3M	$2.7M	20x	as long as short
Gate LIT_USDT	−0.0420%	4h	4.7440	−0.051%	$2.8M	$4.5M	50x	as long as short
Bullet LIT-USD	−0.0337%	1h	4.7406	−0.123%	$85K	$81K	20x	as long as short
KuCoin LITUSDTMlong	−0.0326%	4h	4.7464	long leg	$5.3M	$1.1M	30x
OKX LIT-USDT-SWAP	−0.0299%	4h	4.7412	−0.110%	$25.1M	$60.7M	50x	as long as short
GRVT LIT_USDT_Perp	−0.0260%	4h	4.7480	+0.034%	$895K	$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
Bybit LITUSDT	−0.0206%	4h	4.7440	−0.051%	$42.9M	$30.2M	75x	as long as short
Nado LIT-PERP	−0.0186%	1h	4.7398	−0.138%	$2.1M	$1.7M	10x	as long as short
Coinbase International LIT-PERP-INTX	−0.0152%	1h	4.8452	+2.082%	$668K	$408K	50x	as long as short
Extended LIT-USD	−0.0080%	1h	4.7396	−0.142%	$5.2M	$5.1M	25x	as long as short
SoDEX LIT-USD	−0.0063%	1h	4.7415	−0.103%	$982	$474K	5x	as long as short
Phoenix LIT	−0.0050%	1h	4.7466	+0.004%	$246K	$321K	5x	as long as short
Paradex LIT-USD-PERP	−0.0016%	8h	4.7355	−0.229%	$5K	$1K	5x	as long as short
dYdX LIT-USD	0.0000%	1h	4.7460	−0.008%	$34K	—	5x	as long as short
gTrade (Gains Network) LIT/USD	L +0.0003% / S −0.0003%	1h	4.7455	−0.019%	$35K	—	150x	as long as short
RISEx LIT/USDC	+0.0009%	1h	4.7456	−0.017%	$815K	$2.0M	5x	as long as short
Injective LIT/USDC PERP	+0.0033%	1h	4.8040	+1.214%	$422	$178K	5.5x	as long as short
Binance LITUSDT	+0.0051%	4h	4.7398	−0.140%	$74.9M	$80.6M	75x	as long as short
MEXC LIT_USDT	+0.0052%	4h	4.7391	−0.154%	$5.9M	$4.2M	100x	as long as short
edgeX LITUSDC	+0.0053%	4h	4.7455	−0.018%	$289K	$311K	10x	as long as short
Aevo LIT-PERP	+0.0064%	1h	4.7387	−0.163%	$148K	$44K	3x	as long as short
Polymarket Perps LIT-USD	+0.0064%	1h	4.7422	−0.088%	$448K	$104K	10x	as long as short
Bulk LIT-USD	+0.0077%	1h	4.7397	−0.141%	$119K	$7K	10x	as long as short
Hyperliquid LIT	+0.0100%	1h	4.7457	−0.016%	$210.8M	$44.3M	5x	as long as short
Aster LITUSDT	+0.0100%	4h	4.7487	+0.048%	$12.7M	$2.5M	50x	as long as short
Pacifica LIT	+0.0100%	1h	4.7439	−0.053%	$595K	$1.8M	10x	as long as short
Arcus LIT-USD	+0.0100%	1h	4.7413	−0.107%	$118K	$446K	5x	as long as short
Bitget LITUSDT	+0.0100%	4h	4.7430	−0.072%	$6.7M	$2.7M	20x	as long as short
ApeX Omni LITUSDT	+0.0100%	1h	4.7440	−0.051%	$56K	$77K	50x	as long as short
Derive LIT-PERP	+0.0100%	1h	4.7457	−0.014%	$2K	$1K	6.7x	as long as short
SunX LIT-USDT	+0.0100%	4h	4.7432	−0.067%	$4K	$1.2M	20x	as long as short
HTX LIT-USDT	+0.0100%	4h	4.7468	+0.008%	$189K	$331K	30x	as long as short
Perpl LIT	+0.0112%	43m	4.7455	−0.019%	$31K	$842K	33x	as long as short
Lighter LIT	+0.0112%	1h	4.7497	+0.070%	$59.6M	$29.6M	5x	as long as short
Aftermath Perps LITUSD	+0.0190%	1h	4.7563	+0.208%	$11K	$198K	10x	as long as short
BloFin LIT-USDT	+0.0203%	4h	4.7398	−0.139%	$1.5M	$2.0M	75x	as long as short
Lighter RH LIT	+0.0264%	1h	4.7507	+0.091%	$3.7M	$14.0M	5x	as long as short
GMX LIT/USD [ETH-USDC]	L +0.0388% / S −0.0190%	1h	4.7451	−0.027%	$59K	—	50x	as long as short