Funding arb · Price arb /

LIT

all LIT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0204%/8h= −22.3% APRpaid last 24h −0.038%

Price spread now: GRVT against Lighter−0.184%7-day average −0.164% · you buy dearer than you sell

Net, funding: paid 7d − costs−$97as in the Funding arb table

Net, price: spread back to 7d avg − costs−$41as in the Price arb table

costs, in and out, $10k−$390.389% of the position

Long on Lighter Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.581%−$58 on $10k

Price spread, last 7 days−0.054%−$5 · spread now −0.184%, 7d avg −0.164%

Together, before fees−0.635%+ Points / potential airdropLighter: Season 3 · GRVT: Active · farm board−$64 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and GRVT is 0.020% cheaper against Lighter than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.164%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter LIT	4.7451	0.0096	pay 0.0012% / 1h	29m 18s	$59.7M	$29.9M	5x
Short	GRVT LIT_USDT_Perp	4.7364	−0.0108	pay 0.0054% / 4h	29m 18s	$900K	$1.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now −0.184%Rate

Funding earned: −$42.84
Price spread: −0.184% → −0.164%: −$2.02
Slippage, 4 orders: −$29.88
Fee Lighter: 0 bp × 2 orders: $0
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$83.73
Costs to cover: 0.389%
Break-even: never at this rate

Slippage from Lighter: live order book, 5 min ago; GRVT: 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, 5 min ago	0.10 bp	2.7 bp −$3	12.2 bp −$122	doesn't fit	doesn't fit
Sell GRVT live order book, 4 min ago	1.05 bp	13.2 bp −$13	37.8 bp −$378	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	−0.0882%	4h	4.7450	−0.002%	$2.8M	$4.5M	50x	as long as short
Orderly PERP_LIT_USDC	−0.0587%	4h	4.7392	−0.124%	$32K	$2K	10x	as long as short
01 Exchange LITUSD	−0.0568%	1h	4.7332	−0.251%	$33K	$4K	5x	as long as short
Deribit LIT_USDC-PERPETUAL	−0.0557%	1h	4.7447	−0.008%	$42K	$40K	10x	as long as short
OKX LIT-USDT-SWAP	−0.0414%	4h	4.7434	−0.036%	$25.7M	$63.8M	50x	as long as short
Phemex LITUSDT	−0.0365%	4h	4.7340	−0.234%	$1.4M	$2.7M	20x	as long as short
Bullet LIT-USD	−0.0335%	1h	4.7427	−0.052%	$85K	$81K	20x	as long as short
KuCoin LITUSDTM	−0.0212%	4h	4.7415	−0.076%	$5.2M	$1.1M	30x	as long as short
Coinbase International LIT-PERP-INTX	−0.0120%	1h	4.7608	+0.331%	$673K	$402K	50x	as long as short
GRVT LIT_USDT_Perpshort	−0.0108%	4h	4.7364	−0.184%	$900K	$1.8M	10x

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix LIT	−0.0050%	1h	4.7369	−0.173%	$206K	$353K	5x	as long as short
Bybit LITUSDT	−0.0050%	4h	4.7450	−0.002%	$42.8M	$30.0M	75x	as long as short
dYdX LIT-USD	0.0000%	1h	4.7402	−0.103%	$34K	—	5x	as long as short
Perpl LIT	0.0000%	43m	4.7405	−0.098%	$31K	$840K	33x	as long as short
gTrade (Gains Network) LIT/USD	L +0.0003% / S −0.0003%	1h	4.7472	+0.044%	$35K	—	150x	as long as short
RISEx LIT/USDC	+0.0012%	1h	4.7420	−0.065%	$816K	$2.1M	5x	as long as short
Paradex LIT-USD-PERP	+0.0022%	8h	4.7367	−0.176%	$7K	$2K	5x	as long as short
Injective LIT/USDC PERP	+0.0033%	1h	4.8040	+1.241%	$422	$178K	5.5x	as long as short
edgeX LITUSDC	+0.0083%	4h	4.7384	−0.142%	$288K	$311K	10x	as long as short
MEXC LIT_USDT	+0.0086%	4h	4.7413	−0.080%	$5.6M	$4.1M	100x	as long as short
Binance LITUSDT	+0.0088%	4h	4.7435	−0.033%	$75.6M	$81.5M	75x	as long as short
Aevo LIT-PERP	+0.0088%	1h	4.7418	−0.069%	$148K	$44K	3x	as long as short
Lighter LITlong	+0.0096%	1h	4.7451	long leg	$59.7M	$29.9M	5x
Nado LIT-PERP	+0.0100%	1h	4.7430	−0.044%	$2.2M	$1.7M	10x	as long as short
Aster LITUSDT	+0.0100%	4h	4.7456	+0.011%	$12.7M	$2.4M	50x	as long as short
Pacifica LIT	+0.0100%	1h	4.7431	−0.041%	$590K	$1.7M	10x	as long as short
Arcus LIT-USD	+0.0100%	1h	4.7398	−0.112%	$120K	$456K	5x	as long as short
Bulk LIT-USD	+0.0100%	1h	4.7353	−0.207%	$118K	$4K	10x	as long as short
Bitget LITUSDT	+0.0100%	4h	4.7470	+0.040%	$6.7M	$2.8M	20x	as long as short
Backpack LIT_USDC_PERP	+0.0100%	1h	4.7386	−0.137%	$673K	$1.4M	5x	as long as short
ApeX Omni LITUSDT	+0.0100%	1h	4.7370	−0.171%	$56K	$77K	50x	as long as short
Polymarket Perps LIT-USD	+0.0100%	1h	4.7449	−0.004%	$448K	$105K	10x	as long as short
Derive LIT-PERP	+0.0100%	1h	4.7466	+0.032%	$2K	$650	6.7x	as long as short
SunX LIT-USDT	+0.0100%	4h	4.7386	−0.137%	$4K	$1.2M	20x	as long as short
SoDEX LIT-USD	+0.0100%	1h	4.7451	0.000%	$985	$466K	5x	as long as short
HTX LIT-USDT	+0.0100%	4h	4.7443	−0.017%	$190K	$329K	30x	as long as short
Extended LIT-USD	+0.0104%	1h	4.7426	−0.052%	$5.2M	$5.1M	25x	as long as short
Aftermath Perps LITUSD	+0.0160%	1h	4.7487	+0.075%	$13K	$203K	10x	as long as short
Lighter RH LIT	+0.0184%	1h	4.7464	+0.027%	$3.7M	$13.9M	5x	as long as short
Hyperliquid LIT	+0.0214%	1h	4.7516	+0.137%	$213.1M	$44.9M	5x	as long as short
BloFin LIT-USDT	+0.0326%	4h	4.7352	−0.209%	$1.6M	$2.0M	75x	as long as short
GMX LIT/USD [ETH-USDC]	L +0.0377% / S −0.0169%	1h	4.7453	+0.004%	$62K	—	50x	as long as short