Funding arb · Price arb /

LIT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0079%/8h= −8.6% APRpaid last 24h +0.017%

Price spread now: Phoenix against KuCoin+0.143%63s7-day average +0.128% · you sell dearer than you buy

Net, funding: paid 7d − costs−$80as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$890.892% of the position

Long on KuCoin Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.090%+$9 on $10k

Price spread, last 4 days (all we have)+1.461%+$146 · spread now +0.143%, 7d avg +0.128%

Together, before fees+1.551%+$155 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.128%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.090%, so the current rate has only just turned against you. The two prices were read 63 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	KuCoin LITUSDTM	4.6775	−0.0006	get 0.0003% / 4h	1h 38m	$5.2M	$1.1M	30x
Short	Phoenix LIT	4.6842	−0.0085	pay 0.0011% / 1h	38m 26s	$201K	$341K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now +0.143%Rate

Funding earned: −$16.56
Price spread: +0.143% → +0.128%: $1.55
Slippage, 4 orders: −$70.15
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$104.16
Costs to cover: 0.892%
Break-even: never at this rate

Slippage from KuCoin: live order book, 4 min ago; Phoenix: live order book, 23 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, 4 min ago	6.63 bp	30.6 bp −$31	490.2 bp −$4,902	doesn't fit	doesn't fit
Sell Phoenix live order book, 23 min ago	1.91 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
Orderly PERP_LIT_USDC	−0.0392%	4h	4.6694	−0.173%	$32K	$1K	10x	as long as short
Bullet LIT-USD	−0.0291%	1h	4.6758	−0.036%	$84K	$68K	20x	as long as short
01 Exchange LITUSD	−0.0264%	1h	4.6735	−0.086%	$33K	$4K	5x	as long as short
Deribit LIT_USDC-PERPETUAL	−0.0147%	1h	4.6776	+0.003%	$41K	$40K	10x	as long as short
Gate LIT_USDT	−0.0136%	4h	4.6790	+0.032%	$2.7M	$4.2M	50x	as long as short
Phoenix LITshort	−0.0085%	1h	4.6842	+0.143%	$201K	$341K	5x
Coinbase International LIT-PERP-INTX	−0.0024%	1h	4.6865	+0.193%	$658K	$372K	50x	as long as short
OKX LIT-USDT-SWAP	−0.0008%	4h	4.6738	−0.079%	$25.2M	$61.4M	50x	as long as short
KuCoin LITUSDTMlong	−0.0006%	4h	4.6775	long leg	$5.2M	$1.1M	30x
gTrade (Gains Network) LIT/USD	L +0.0003% / S −0.0002%	1h	4.6778	+0.006%	$11K	—	150x	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	+0.0010%	4h	4.6830	+0.117%	$909K	$1.7M	10x	as long as short
dYdX LIT-USD	+0.0012%	1h	4.6791	+0.034%	$34K	—	5x	as long as short
Phemex LITUSDT	+0.0016%	4h	4.6750	−0.053%	$1.4M	$2.8M	20x	as long as short
Injective LIT/USDC PERP	+0.0033%	1h	4.8040	+2.704%	$422	$178K	5.5x	as long as short
Backpack LIT_USDC_PERP	+0.0041%	1h	4.6787	+0.026%	$683K	$1.4M	5x	as long as short
ApeX Omni LITUSDT	+0.0057%	1h	4.6800	+0.053%	$56K	$77K	50x	as long as short
Paradex LIT-USD-PERP	+0.0068%	8h	4.6762	−0.027%	$7K	$2K	5x	as long as short
Bulk LIT-USD	+0.0089%	1h	4.6805	+0.065%	$117K	$2K	10x	as long as short
Lighter LIT	+0.0096%	1h	4.6843	+0.145%	$58.5M	$28.6M	5x	as long as short
RISEx LIT/USDC	+0.0099%	1h	4.6800	+0.053%	$780K	$2.0M	5x	as long as short
Nado LIT-PERP	+0.0100%	1h	4.6765	−0.021%	$2.2M	$1.7M	10x	as long as short
Hyperliquid LIT	+0.0100%	1h	4.6803	+0.060%	$209.1M	$41.0M	5x	as long as short
Pacifica LIT	+0.0100%	1h	4.6781	+0.013%	$580K	$1.6M	10x	as long as short
Binance LITUSDT	+0.0100%	4h	4.6741	−0.073%	$74.3M	$78.6M	75x	as long as short
Bybit LITUSDT	+0.0100%	4h	4.6748	−0.058%	$41.4M	$28.5M	75x	as long as short
Arcus LIT-USD	+0.0100%	1h	4.6797	+0.047%	$117K	$447K	5x	as long as short
MEXC LIT_USDT	+0.0100%	4h	4.6747	−0.060%	$5.4M	$3.9M	100x	as long as short
Bitget LITUSDT	+0.0100%	4h	4.6800	+0.053%	$6.7M	$2.6M	20x	as long as short
edgeX LITUSDC	+0.0100%	4h	4.6742	−0.072%	$285K	$304K	10x	as long as short
Polymarket Perps LIT-USD	+0.0100%	1h	4.6773	−0.004%	$442K	$104K	10x	as long as short
Derive LIT-PERP	+0.0100%	1h	4.6768	−0.016%	$2K	—	6.7x	as long as short
SunX LIT-USDT	+0.0100%	4h	4.6712	−0.135%	$5K	$1.1M	20x	as long as short
SoDEX LIT-USD	+0.0100%	1h	4.6740	−0.075%	$1K	$416K	5x	as long as short
HTX LIT-USDT	+0.0100%	4h	4.6822	+0.100%	$194K	$379K	30x	as long as short
Extended LIT-USD	+0.0104%	1h	4.6729	−0.099%	$5.1M	$5.0M	25x	as long as short
Aevo LIT-PERP	+0.0104%	1h	4.6732	−0.091%	$146K	—	3x	as long as short
Lighter RH LIT	+0.0144%	1h	4.6868	+0.199%	$3.7M	$13.1M	5x	as long as short
Aster LITUSDT	+0.0179%	4h	4.6847	+0.154%	$12.5M	$2.0M	50x	as long as short
Aftermath Perps LITUSD	+0.0256%	1h	4.6799	+0.050%	$9K	$208K	10x	as long as short
BloFin LIT-USDT	+0.0340%	4h	4.6735	−0.086%	$1.5M	$1.9M	75x	as long as short
GMX LIT/USD [ETH-USDC]	L +0.0410% / S −0.0207%	1h	4.6779	+0.009%	$62K	—	50x	as long as short
Perpl LIT	+0.0447%	43m	4.6777	+0.004%	$31K	$827K	33x	as long as short