LIT

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0106%/8h= −11.6% APRnext payment −$0.13 per $10,000 · paid last 24h −0.029%

Price spread now: Backpack against Lighter−0.170%7-day average +0.165% · you buy dearer than you sell

Net, funding: paid 7d − costs−$36as in the Funding arb table

Net, price: spread back to 7d avg − costs−$58as in the Price arb table

costs, in and out, $10k−$240.243% of the position

Long on Lighter Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.117%−$12 on $10k

Price spread, last 7 days+0.352%+$35 · spread now −0.170%, 7d avg +0.165%

Together, before fees+0.235%+ Points / potential airdropLighter: Season 3 · farm board+$24 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Backpack is 0.335% cheaper against Lighter than usual: you would sell low and buy high (−$34 if the spread goes back to its 7-day average of +0.165%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter LIT	4.6963	0.0096	pay 0.0012% / 1h	54m 31s	$58.5M	$28.5M	5x
Short	Backpack LIT_USDC_PERP	4.6883	−0.0010	pay 0.0001% / 1h	54m 31s	$664K	$1.4M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Lighter. 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 LighterbpFee BackpackbpOrdersPrice spread, now −0.170%Rate

Funding earned: −$22.27
Price spread: −0.170% → +0.165%: −$33.55
Slippage, 4 orders: −$14.29
Fee Lighter: 0 bp × 2 orders: $0
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$80.11
Costs to cover: 0.243%
Break-even: never at this rate

Slippage from Lighter: live order book, 9 min ago; Backpack: live order book, 4 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 Lighter live order book, 9 min ago	0.11 bp	2.0 bp −$2	11.9 bp −$119	doesn't fit	doesn't fit
Sell Backpack live order book, 4 min ago	0.53 bp	9.6 bp −$10	17.7 bp −$177	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	−0.0590%	1h	4.6838	−0.267%	$41K	$40K	10x	as long as short
01 Exchange LITUSD	−0.0400%	1h	4.6848	−0.245%	$33K	$4K	5x	as long as short
Orderly PERP_LIT_USDC	−0.0384%	4h	4.6817	−0.311%	$32K	$1K	10x	as long as short
Bullet LIT-USD	−0.0275%	1h	4.6835	−0.272%	$84K	$68K	20x	as long as short
Coinbase International LIT-PERP-INTX	−0.0192%	1h	4.6848	−0.246%	$612K	$412K	50x	as long as short
ApeX Omni LITUSDT	−0.0152%	1h	4.6820	−0.304%	$56K	$76K	50x	as long as short
Gate LIT_USDT	−0.0150%	4h	4.6950	−0.028%	$2.7M	$4.2M	50x	as long as short
Phemex LITUSDT	−0.0091%	4h	4.6820	−0.304%	$1.4M	$2.8M	20x	as long as short
Phoenix LIT	−0.0085%	1h	4.6835	−0.273%	$201K	$305K	5x	as long as short
Bybit LITUSDT	−0.0012%	4h	4.6883	−0.170%	$41.6M	$28.5M	75x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Backpack LIT_USDC_PERPshort	−0.0010%	1h	4.6883	−0.170%	$664K	$1.4M	5x
dYdX LIT-USD	0.0000%	1h	4.6952	−0.023%	$34K	—	5x	as long as short
OKX LIT-USDT-SWAP	+0.0001%	4h	4.6915	−0.102%	$25.2M	$61.6M	50x	as long as short
gTrade (Gains Network) LIT/USD	L +0.0003% / S −0.0002%	1h	4.6880	−0.177%	$11K	—	150x	as long as short
KuCoin LITUSDTM	+0.0004%	4h	4.6883	−0.170%	$5.2M	$1.0M	30x	as long as short
Polymarket Perps LIT-USD	+0.0029%	1h	4.6870	−0.198%	$438K	$109K	10x	as long as short
Injective LIT/USDC PERP	+0.0033%	1h	4.8040	+2.293%	$422	$178K	5.5x	as long as short
Paradex LIT-USD-PERP	+0.0057%	8h	4.6887	−0.163%	$7K	$2K	5x	as long as short
RISEx LIT/USDC	+0.0073%	1h	4.6927	−0.077%	$783K	$2.1M	5x	as long as short
GRVT LIT_USDT_Perp	+0.0076%	4h	4.6832	−0.279%	$915K	$1.8M	10x	as long as short
Lighter LITlong	+0.0096%	1h	4.6963	long leg	$58.5M	$28.5M	5x
Lighter RH LIT	+0.0096%	1h	4.6976	+0.028%	$3.6M	$13.1M	5x	as long as short
Nado LIT-PERP	+0.0100%	1h	4.6880	−0.177%	$2.2M	$1.7M	10x	as long as short
Hyperliquid LIT	+0.0100%	1h	4.6962	−0.002%	$209.9M	$41.8M	5x	as long as short
Pacifica LIT	+0.0100%	1h	4.6909	−0.115%	$582K	$1.6M	10x	as long as short
Binance LITUSDT	+0.0100%	4h	4.6884	−0.167%	$74.8M	$79.0M	75x	as long as short
Arcus LIT-USD	+0.0100%	1h	4.6916	−0.100%	$122K	$453K	5x	as long as short
Bulk LIT-USD	+0.0100%	1h	4.6887	−0.162%	$117K	$973	10x	as long as short
MEXC LIT_USDT	+0.0100%	4h	4.6899	−0.136%	$5.5M	$3.8M	100x	as long as short
Bitget LITUSDT	+0.0100%	4h	4.6910	−0.113%	$6.8M	$2.6M	20x	as long as short
edgeX LITUSDC	+0.0100%	4h	4.6697	−0.566%	$284K	$303K	10x	as long as short
Derive LIT-PERP	+0.0100%	1h	4.6879	−0.179%	$2K	—	6.7x	as long as short
SunX LIT-USDT	+0.0100%	4h	4.6860	−0.219%	$4K	$1.2M	20x	as long as short
SoDEX LIT-USD	+0.0100%	1h	4.6842	−0.258%	$2K	$397K	5x	as long as short
HTX LIT-USDT	+0.0100%	4h	4.6931	−0.068%	$198K	$388K	30x	as long as short
Extended LIT-USD	+0.0104%	1h	4.6880	−0.176%	$5.1M	$5.0M	25x	as long as short
Aevo LIT-PERP	+0.0104%	1h	4.6833	−0.277%	$146K	—	3x	as long as short
Aftermath Perps LITUSD	+0.0160%	1h	4.6858	−0.223%	$8K	$206K	10x	as long as short
Aster LITUSDT	+0.0209%	4h	4.6953	−0.020%	$12.6M	$2.0M	50x	as long as short
Perpl LIT	+0.0335%	43m	4.6867	−0.204%	$31K	$797K	33x	as long as short
BloFin LIT-USDT	+0.0340%	4h	4.6836	−0.270%	$1.6M	$1.9M	75x	as long as short
GMX LIT/USD [ETH-USDC]	L +0.0418% / S −0.0217%	1h	4.6869	−0.200%	$63K	—	50x	as long as short