Funding arb · Price arb /

LIT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0254%/8h= +27.8% APRpaid last 24h +0.065%

Price spread now: Phoenix against OKX+0.051%7-day average +0.159% · you sell dearer than you buy

Net, funding: paid 7d − costs−$25as in the Funding arb table

Net, price: spread back to 7d avg − costs−$62as in the Price arb table

costs, in and out, $10k−$510.508% of the position

Long on OKX Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.259%+$26 on $10k

Price spread, last 3 days (all we have)+1.208%+$121 · spread now +0.051%, 7d avg +0.159%

Together, before fees+1.467%+$147 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phoenix is 0.108% cheaper against OKX than usual: you would sell low and buy high (spread +0.051% now, against its 7-day average of +0.159%). If the spread goes back, that is −$11 on $10k: about 34 hours of funding at the current rate (+$8 a day). At the pace of the last 7 days (+0.259% in total) that is about 2.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX LIT-USDT-SWAP	4.7185	−0.0304	get 0.0152% / 4h	2h 45m	$25.0M	$60.7M	50x
Short	Phoenix LIT	4.7209	−0.0050	pay 0.0006% / 1h	45m 30s	$244K	$321K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against OKX. 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 OKXbpFee PhoenixbpOrdersPrice spread, now +0.051%Rate

Funding earned: $53.4
Price spread: +0.051% → +0.159%: −$10.81
Slippage, 4 orders: −$33.83
Fee OKX: 5 bp × 2 orders: −$10
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$8.25
Costs to cover: 0.508%
Break-even: 8.1 days

Slippage from OKX: live order book, 3 min ago; Phoenix: live order book, 40 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 OKX live order book, 3 min ago	0.11 bp	5.1 bp −$5	28.0 bp −$280	doesn't fit	doesn't fit
Sell Phoenix live order book, 40 min ago	2.07 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
Deribit LIT_USDC-PERPETUAL	−0.0953%	1h	4.7153	−0.068%	$41K	$40K	10x	as long as short
01 Exchange LITUSD	−0.0680%	1h	4.7131	−0.114%	$33K	$4K	5x	as long as short
Backpack LIT_USDC_PERP	−0.0645%	1h	4.7187	+0.004%	$663K	$1.5M	5x	as long as short
Gate LIT_USDT	−0.0626%	4h	4.7150	−0.074%	$2.8M	$4.5M	50x	as long as short
Orderly PERP_LIT_USDC	−0.0577%	4h	4.7083	−0.216%	$32K	$2K	10x	as long as short
Phemex LITUSDT	−0.0399%	4h	4.7110	−0.159%	$1.3M	$2.7M	20x	as long as short
KuCoin LITUSDTM	−0.0330%	4h	4.7198	+0.028%	$5.3M	$1.1M	30x	as long as short
OKX LIT-USDT-SWAPlong	−0.0304%	4h	4.7185	long leg	$25.0M	$60.7M	50x
Bullet LIT-USD	−0.0301%	1h	4.7151	−0.073%	$85K	$81K	20x	as long as short
GRVT LIT_USDT_Perp	−0.0294%	4h	4.7109	−0.162%	$893K	$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	−0.0270%	4h	4.7180	−0.011%	$42.6M	$30.4M	75x	as long as short
Coinbase International LIT-PERP-INTX	−0.0152%	1h	4.7349	+0.347%	$653K	$399K	50x	as long as short
Nado LIT-PERP	−0.0129%	1h	4.7195	+0.021%	$2.1M	$1.7M	10x	as long as short
Extended LIT-USD	−0.0080%	1h	4.7121	−0.137%	$5.2M	$5.1M	25x	as long as short
SoDEX LIT-USD	−0.0077%	1h	4.7135	−0.106%	$977	$484K	5x	as long as short
Phoenix LITshort	−0.0050%	1h	4.7209	+0.051%	$244K	$321K	5x
Paradex LIT-USD-PERP	−0.0024%	8h	4.7113	−0.153%	$5K	$2K	5x	as long as short
dYdX LIT-USD	0.0000%	1h	4.7220	+0.075%	$34K	—	5x	as long as short
gTrade (Gains Network) LIT/USD	L +0.0003% / S −0.0003%	1h	4.7197	+0.026%	$35K	—	150x	as long as short
RISEx LIT/USDC	+0.0009%	1h	4.7208	+0.050%	$812K	$2.0M	5x	as long as short
Binance LITUSDT	+0.0033%	4h	4.7179	−0.013%	$74.6M	$80.9M	75x	as long as short
Injective LIT/USDC PERP	+0.0033%	1h	4.8040	+1.812%	$422	$178K	5.5x	as long as short
MEXC LIT_USDT	+0.0036%	4h	4.7116	−0.146%	$5.8M	$4.2M	100x	as long as short
edgeX LITUSDC	+0.0041%	4h	4.7233	+0.102%	$287K	$312K	10x	as long as short
Aevo LIT-PERP	+0.0048%	1h	4.7114	−0.151%	$147K	$44K	3x	as long as short
Polymarket Perps LIT-USD	+0.0075%	1h	4.7209	+0.051%	$446K	$105K	10x	as long as short
Bulk LIT-USD	+0.0077%	1h	4.7397	+0.449%	$119K	$7K	10x	as long as short
Lighter LIT	+0.0096%	1h	4.7220	+0.074%	$59.2M	$29.9M	5x	as long as short
Hyperliquid LIT	+0.0100%	1h	4.7215	+0.064%	$209.8M	$44.6M	5x	as long as short
Aster LITUSDT	+0.0100%	4h	4.7196	+0.023%	$12.6M	$2.5M	50x	as long as short
Pacifica LIT	+0.0100%	1h	4.7194	+0.019%	$592K	$1.8M	10x	as long as short
Arcus LIT-USD	+0.0100%	1h	4.7145	−0.085%	$118K	$445K	5x	as long as short
Bitget LITUSDT	+0.0100%	4h	4.7200	+0.032%	$6.7M	$2.7M	20x	as long as short
ApeX Omni LITUSDT	+0.0100%	1h	4.7120	−0.138%	$55K	$77K	50x	as long as short
Derive LIT-PERP	+0.0100%	1h	4.7182	−0.007%	$2K	$1K	6.7x	as long as short
SunX LIT-USDT	+0.0100%	4h	4.7159	−0.055%	$4K	$1.2M	20x	as long as short
HTX LIT-USDT	+0.0100%	4h	4.7273	+0.186%	$189K	$327K	30x	as long as short
Perpl LIT	+0.0112%	43m	4.7202	+0.037%	$31K	$844K	33x	as long as short
BloFin LIT-USDT	+0.0147%	4h	4.7025	−0.339%	$1.5M	$2.0M	75x	as long as short
Aftermath Perps LITUSD	+0.0185%	1h	4.7407	+0.471%	$11K	$198K	10x	as long as short
Lighter RH LIT	+0.0344%	1h	4.7237	+0.110%	$3.7M	$14.1M	5x	as long as short
GMX LIT/USD [ETH-USDC]	L +0.0387% / S −0.0190%	1h	4.7193	+0.017%	$59K	—	50x	as long as short