Funding arb · Price arb /

LIT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.025%

Price spread now: Backpack against MEXC+0.071%7-day average +0.246% · you sell dearer than you buy

Net, funding: paid 7d − costs−$9as in the Funding arb table

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$200.198% of the position

Long on MEXC Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.110%+$11 on $10k

Price spread, last 7 days+0.312%+$31 · spread now +0.071%, 7d avg +0.246%

Together, before fees+0.422%+$42 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Backpack is 0.174% cheaper against MEXC than usual: you would sell low and buy high, −$17 on $10k if it goes back to its 7-day average of +0.246%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC LIT_USDT	4.7575	0.0100	pay 0.0050% / 4h	3h 19m	$5.6M	$4.2M	100x
Short	Backpack LIT_USDC_PERP	4.7609	0.0100	get 0.0013% / 1h	19m 47s	$690K	$1.4M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against MEXC. 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 MEXCbpFee BackpackbpOrdersPrice spread, now +0.071%Rate

Funding earned: $0
Price spread: +0.071% → +0.246%: −$17.42
Slippage, 4 orders: −$5.84
Fee MEXC: 2 bp × 2 orders: −$4
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$37.26
Costs to cover: 0.198%
Break-even: never at this rate

Slippage from MEXC: live order book, 3 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 MEXC live order book, 3 min ago	0.10 bp	4.2 bp −$4	49.3 bp −$493	255.3 bp −$25.5K	doesn't fit
Sell Backpack live order book, 4 min ago	0.84 bp	5.9 bp −$6	16.9 bp −$169	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	−0.0762%	1h	4.7577	+0.005%	$42K	$40K	10x	as long as short
Orderly PERP_LIT_USDC	−0.0497%	4h	4.7523	−0.109%	$33K	$2K	10x	as long as short
01 Exchange LITUSD	−0.0416%	1h	4.7603	+0.059%	$33K	$4K	5x	as long as short
Bullet LIT-USD	−0.0351%	1h	4.7573	−0.003%	$85K	$72K	20x	as long as short
ApeX Omni LITUSDT	−0.0222%	1h	4.7460	−0.242%	$57K	$77K	50x	as long as short
OKX LIT-USDT-SWAP	−0.0199%	4h	4.7598	+0.048%	$25.9M	$63.8M	50x	as long as short
KuCoin LITUSDTM	−0.0134%	4h	4.7563	−0.025%	$5.3M	$1.1M	30x	as long as short
Coinbase International LIT-PERP-INTX	−0.0088%	1h	4.7644	+0.145%	$674K	$391K	50x	as long as short
GRVT LIT_USDT_Perp	−0.0078%	4h	4.7470	−0.220%	$908K	$1.8M	10x	as long as short
Phoenix LIT	−0.0034%	1h	4.7514	−0.128%	$207K	$361K	5x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Perpl LIT	0.0000%	43m	4.7674	+0.207%	$32K	$855K	33x	as long as short
dYdX LIT-USD	+0.0003%	1h	4.7650	+0.159%	$34K	—	5x	as long as short
gTrade (Gains Network) LIT/USD	L +0.0003% / S −0.0002%	1h	4.7620	+0.095%	$11K	—	150x	as long as short
Injective LIT/USDC PERP	+0.0033%	1h	4.8040	+0.977%	$422	$178K	5.5x	as long as short
Nado LIT-PERP	+0.0040%	1h	4.7604	+0.062%	$2.2M	$1.7M	10x	as long as short
Paradex LIT-USD-PERP	+0.0044%	8h	4.7585	+0.021%	$7K	$2K	5x	as long as short
Bulk LIT-USD	+0.0096%	1h	4.7547	−0.059%	$119K	$1K	10x	as long as short
Lighter LIT	+0.0096%	1h	4.7667	+0.193%	$59.6M	$29.9M	5x	as long as short
Polymarket Perps LIT-USD	+0.0098%	1h	4.7632	+0.120%	$450K	$104K	10x	as long as short
Aster LITUSDT	+0.0100%	4h	4.7635	+0.126%	$12.7M	$2.1M	50x	as long as short
Pacifica LIT	+0.0100%	1h	4.7635	+0.125%	$593K	$1.6M	10x	as long as short
Binance LITUSDT	+0.0100%	4h	4.7539	−0.075%	$75.9M	$80.3M	75x	as long as short
Bybit LITUSDT	+0.0100%	4h	4.7511	−0.135%	$42.8M	$29.8M	75x	as long as short
Arcus LIT-USD	+0.0100%	1h	4.7628	+0.111%	$118K	$450K	5x	as long as short
Gate LIT_USDT	+0.0100%	4h	4.7610	+0.074%	$2.8M	$4.5M	50x	as long as short
MEXC LIT_USDTlong	+0.0100%	4h	4.7575	long leg	$5.6M	$4.2M	100x
Bitget LITUSDT	+0.0100%	4h	4.7630	+0.116%	$6.8M	$2.7M	20x	as long as short
Backpack LIT_USDC_PERPshort	+0.0100%	1h	4.7609	+0.071%	$690K	$1.4M	5x
edgeX LITUSDC	+0.0100%	4h	4.7466	−0.228%	$289K	$308K	10x	as long as short
Derive LIT-PERP	+0.0100%	1h	4.7617	+0.088%	$2K	—	6.7x	as long as short
SunX LIT-USDT	+0.0100%	4h	4.7625	+0.105%	$4K	$1.2M	20x	as long as short
SoDEX LIT-USD	+0.0100%	1h	4.7579	+0.008%	$986	$454K	5x	as long as short
HTX LIT-USDT	+0.0100%	4h	4.7599	+0.050%	$190K	$346K	30x	as long as short
Phemex LITUSDT	+0.0100%	4h	4.7580	+0.011%	$1.4M	$2.7M	20x	as long as short
Extended LIT-USD	+0.0104%	1h	4.7566	−0.019%	$5.2M	$5.1M	25x	as long as short
Aevo LIT-PERP	+0.0104%	1h	4.7573	−0.003%	$149K	—	3x	as long as short
RISEx LIT/USDC	+0.0119%	1h	4.7658	+0.174%	$794K	$2.0M	5x	as long as short
Lighter RH LIT	+0.0176%	1h	4.7692	+0.246%	$3.7M	$13.7M	5x	as long as short
Hyperliquid LIT	+0.0334%	1h	4.7696	+0.254%	$214.1M	$43.9M	5x	as long as short
BloFin LIT-USDT	+0.0340%	4h	4.7505	−0.147%	$1.6M	$2.0M	75x	as long as short
Aftermath Perps LITUSD	+0.0387%	1h	4.7608	+0.070%	$9K	$202K	10x	as long as short
GMX LIT/USD [ETH-USDC]	L +0.0398% / S −0.0187%	1h	4.7615	+0.085%	$64K	—	50x	as long as short