Funding arb · Price arb /

LIT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC+0.0498%/8h= +54.5% APRpaid last 24h +0.129%

Price spread now: Phoenix against Orderly+0.665%66s7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Orderly Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$15 a day on $10k at the current rate, and Phoenix is 0.665% dearer against Orderly than usual: you sell high and buy low: +$67 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 66 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	Orderly PERP_LIT_USDC	4.7362	−0.0565	get 0.0282% / 4h	2h 53m	$32K	$2K	10x
Short	Phoenix LIT	4.7677	−0.0067	pay 0.0008% / 1h	53m 44s	$246K	$321K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Orderly. 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 OrderlybpFee PhoenixbpOrdersPrice spread, now +0.665%Rate

Funding earned: $104.59
Price spread: +0.665% → 0.000%: $66.51
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $158.1
Costs to cover: 0.130%
Break-even: from the start

Slippage unknown: Orderly: no order-book sample; Phoenix: live order book, 32 min ago. Net counts fees only.

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 Orderly no order-book sample	—	—	—	—	—
Sell Phoenix live order book, 32 min ago	2.07 bp	16.1 bp −$16	50.2 bp −$502	doesn't fit	doesn't fit

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0847%	1h	4.7435	+0.155%	$42K	$40K	10x	as long as short
01 Exchange LITUSD	−0.0720%	1h	4.7407	+0.095%	$33K	$4K	5x	as long as short
Orderly PERP_LIT_USDClong	−0.0565%	4h	4.7362	long leg	$32K	$2K	10x
Backpack LIT_USDC_PERP	−0.0514%	1h	4.7486	+0.262%	$667K	$1.5M	5x	as long as short
Phemex LITUSDT	−0.0484%	4h	4.7440	+0.165%	$1.3M	$2.7M	20x	as long as short
Bullet LIT-USD	−0.0352%	1h	4.7414	+0.110%	$85K	$81K	20x	as long as short
KuCoin LITUSDTM	−0.0334%	4h	4.7464	+0.215%	$5.3M	$1.1M	30x	as long as short
Gate LIT_USDT	−0.0332%	4h	4.7450	+0.186%	$2.8M	$4.5M	50x	as long as short
OKX LIT-USDT-SWAP	−0.0292%	4h	4.7439	+0.163%	$25.2M	$60.6M	50x	as long as short
GRVT LIT_USDT_Perp	−0.0274%	4h	4.7490	+0.271%	$896K	$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	−0.0235%	4h	4.7480	+0.249%	$42.9M	$30.1M	75x	as long as short
Nado LIT-PERP	−0.0187%	1h	4.7420	+0.124%	$2.1M	$1.7M	10x	as long as short
SoDEX LIT-USD	−0.0180%	1h	4.7443	+0.171%	$983	$474K	5x	as long as short
Coinbase International LIT-PERP-INTX	−0.0152%	1h	4.8452	+2.302%	$668K	$408K	50x	as long as short
Phoenix LITshort	−0.0067%	1h	4.7677	+0.665%	$246K	$321K	5x
Extended LIT-USD	−0.0048%	1h	4.7440	+0.164%	$5.2M	$5.2M	25x	as long as short
Paradex LIT-USD-PERP	−0.0017%	8h	4.7400	+0.081%	$5K	$1K	5x	as long as short
dYdX LIT-USD	0.0000%	1h	4.7460	+0.207%	$34K	—	5x	as long as short
gTrade (Gains Network) LIT/USD	L +0.0003% / S −0.0003%	1h	4.7461	+0.208%	$35K	—	150x	as long as short
RISEx LIT/USDC	+0.0009%	1h	4.7469	+0.225%	$815K	$2.0M	5x	as long as short
Polymarket Perps LIT-USD	+0.0030%	1h	4.7428	+0.139%	$448K	$104K	10x	as long as short
Injective LIT/USDC PERP	+0.0033%	1h	4.8040	+1.432%	$422	$178K	5.5x	as long as short
Binance LITUSDT	+0.0053%	4h	4.7425	+0.133%	$74.9M	$80.6M	75x	as long as short
MEXC LIT_USDT	+0.0054%	4h	4.7423	+0.129%	$5.9M	$4.2M	100x	as long as short
edgeX LITUSDC	+0.0060%	4h	4.7527	+0.348%	$289K	$310K	10x	as long as short
Aevo LIT-PERP	+0.0072%	1h	4.7391	+0.062%	$148K	$44K	3x	as long as short
ApeX Omni LITUSDT	+0.0083%	1h	4.7490	+0.270%	$56K	$78K	50x	as long as short
Bulk LIT-USD	+0.0088%	1h	4.7627	+0.560%	$119K	$7K	10x	as long as short
Hyperliquid LIT	+0.0100%	1h	4.7485	+0.260%	$211.0M	$44.3M	5x	as long as short
Aster LITUSDT	+0.0100%	4h	4.7487	+0.264%	$12.7M	$2.5M	50x	as long as short
Pacifica LIT	+0.0100%	1h	4.7494	+0.280%	$596K	$1.8M	10x	as long as short
Arcus LIT-USD	+0.0100%	1h	4.7429	+0.141%	$118K	$446K	5x	as long as short
Bitget LITUSDT	+0.0100%	4h	4.7460	+0.207%	$6.7M	$2.7M	20x	as long as short
Derive LIT-PERP	+0.0100%	1h	4.7467	+0.222%	$2K	$1K	6.7x	as long as short
SunX LIT-USDT	+0.0100%	4h	4.7472	+0.232%	$4K	$1.2M	20x	as long as short
HTX LIT-USDT	+0.0100%	4h	4.7465	+0.217%	$189K	$331K	30x	as long as short
Perpl LIT	+0.0112%	43m	4.7486	+0.262%	$31K	$842K	33x	as long as short
Lighter LIT	+0.0120%	1h	4.7524	+0.342%	$59.6M	$29.5M	5x	as long as short
Aftermath Perps LITUSD	+0.0161%	1h	4.7644	+0.596%	$11K	$198K	10x	as long as short
Lighter RH LIT	+0.0192%	1h	4.7525	+0.344%	$3.7M	$14.0M	5x	as long as short
BloFin LIT-USDT	+0.0218%	4h	4.7425	+0.133%	$1.5M	$2.0M	75x	as long as short
GMX LIT/USD [ETH-USDC]	L +0.0388% / S −0.0190%	1h	4.7459	+0.205%	$60K	—	50x	as long as short