Funding arb · Price arb /

LIT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:36 UTC−0.0424%/8h= −46.5% APRpaid last 24h −0.127%

Price spread now: Bullet against Perpl−0.120%7-day average — · you buy dearer than you sell

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

Long on Perpl Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropPerpl: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$13 a day on $10k at the current rate, and Bullet is 0.120% cheaper against Perpl than usual: you would sell low and buy high (−$12 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Perpl LIT	4.7450	0.0112	pay 0.0010% / 43m	37m 09s	$31K	$842K	33x
Short	Bullet LIT-USD	4.7393	−0.0313	pay 0.0039% / 1h	50m 09s	$85K	$81K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet against Perpl. 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 PerplbpFee BulletbpOrdersPrice spread, now −0.120%Rate

Funding earned: −$89.13
Price spread: −0.120% → 0.000%: −$11.99
Slippage, 4 orders: no order book: not counted
Fee Perpl: 6.9 bp × 2 orders: −$13.8
Fee Bullet: 4 bp × 2 orders: −$8
Net: −$122.92
Costs to cover: 0.218%
Break-even: never at this rate

Slippage unknown: Perpl: no order-book sample; Bullet: no order-book sample. 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 Perpl no order-book sample	—	—	—	—	—
Sell Bullet no order-book sample	—	—	—	—	—

Perpl and Bullet: 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	−0.1094%	1h	4.7400	−0.106%	$42K	$40K	10x	as long as short
01 Exchange LITUSD	−0.0664%	1h	4.7321	−0.272%	$33K	$4K	5x	as long as short
Orderly PERP_LIT_USDC	−0.0572%	4h	4.7345	−0.221%	$32K	$2K	10x	as long as short
Backpack LIT_USDC_PERP	−0.0567%	1h	4.7448	−0.004%	$666K	$1.5M	5x	as long as short
Phemex LITUSDT	−0.0461%	4h	4.7360	−0.190%	$1.3M	$2.7M	20x	as long as short
Gate LIT_USDT	−0.0458%	4h	4.7400	−0.105%	$2.8M	$4.5M	50x	as long as short
KuCoin LITUSDTM	−0.0326%	4h	4.7437	−0.027%	$5.3M	$1.1M	30x	as long as short
Bullet LIT-USDshort	−0.0313%	1h	4.7393	−0.120%	$85K	$81K	20x
OKX LIT-USDT-SWAP	−0.0301%	4h	4.7395	−0.116%	$25.1M	$60.7M	50x	as long as short
GRVT LIT_USDT_Perp	−0.0260%	4h	4.7480	+0.063%	$895K	$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
Nado LIT-PERP	−0.0212%	1h	4.7406	−0.092%	$2.1M	$1.7M	10x	as long as short
Bybit LITUSDT	−0.0206%	4h	4.7382	−0.143%	$42.8M	$30.2M	75x	as long as short
Coinbase International LIT-PERP-INTX	−0.0152%	1h	4.8452	+2.112%	$668K	$408K	50x	as long as short
Extended LIT-USD	−0.0088%	1h	4.7391	−0.123%	$5.2M	$5.2M	25x	as long as short
Phoenix LIT	−0.0050%	1h	4.7466	+0.034%	$246K	$321K	5x	as long as short
SoDEX LIT-USD	−0.0046%	1h	4.7396	−0.114%	$982	$474K	5x	as long as short
Paradex LIT-USD-PERP	−0.0017%	8h	4.7368	−0.173%	$5K	$1K	5x	as long as short
dYdX LIT-USD	0.0000%	1h	4.7460	+0.021%	$34K	—	5x	as long as short
gTrade (Gains Network) LIT/USD	L +0.0003% / S −0.0003%	1h	4.7444	−0.013%	$35K	—	150x	as long as short
RISEx LIT/USDC	+0.0009%	1h	4.7431	−0.040%	$814K	$2.0M	5x	as long as short
Injective LIT/USDC PERP	+0.0033%	1h	4.8040	+1.243%	$422	$178K	5.5x	as long as short
MEXC LIT_USDT	+0.0050%	4h	4.7365	−0.179%	$5.9M	$4.2M	100x	as long as short
Binance LITUSDT	+0.0051%	4h	4.7370	−0.169%	$74.8M	$80.6M	75x	as long as short
edgeX LITUSDC	+0.0053%	4h	4.7455	+0.011%	$289K	$311K	10x	as long as short
Aevo LIT-PERP	+0.0064%	1h	4.7364	−0.180%	$148K	$44K	3x	as long as short
Polymarket Perps LIT-USD	+0.0066%	1h	4.7418	−0.067%	$448K	$104K	10x	as long as short
Bulk LIT-USD	+0.0077%	1h	4.7397	−0.112%	$119K	$7K	10x	as long as short
Lighter LIT	+0.0096%	1h	4.7469	+0.040%	$59.6M	$29.6M	5x	as long as short
Hyperliquid LIT	+0.0100%	1h	4.7436	−0.030%	$210.8M	$44.3M	5x	as long as short
Aster LITUSDT	+0.0100%	4h	4.7456	+0.013%	$12.7M	$2.5M	50x	as long as short
Pacifica LIT	+0.0100%	1h	4.7446	−0.008%	$595K	$1.8M	10x	as long as short
Arcus LIT-USD	+0.0100%	1h	4.7397	−0.112%	$118K	$444K	5x	as long as short
Bitget LITUSDT	+0.0100%	4h	4.7410	−0.084%	$6.7M	$2.7M	20x	as long as short
ApeX Omni LITUSDT	+0.0100%	1h	4.7440	−0.021%	$56K	$77K	50x	as long as short
Derive LIT-PERP	+0.0100%	1h	4.7439	−0.023%	$2K	$1K	6.7x	as long as short
SunX LIT-USDT	+0.0100%	4h	4.7432	−0.038%	$4K	$1.2M	20x	as long as short
HTX LIT-USDT	+0.0100%	4h	4.7443	−0.015%	$189K	$331K	30x	as long as short
Perpl LITlong	+0.0112%	43m	4.7450	long leg	$31K	$842K	33x
Aftermath Perps LITUSD	+0.0199%	1h	4.7541	+0.192%	$11K	$198K	10x	as long as short
BloFin LIT-USDT	+0.0203%	4h	4.7398	−0.110%	$1.5M	$2.0M	75x	as long as short
Lighter RH LIT	+0.0264%	1h	4.7484	+0.072%	$3.7M	$14.0M	5x	as long as short
GMX LIT/USD [ETH-USDC]	L +0.0388% / S −0.0190%	1h	4.7433	−0.035%	$59K	—	50x	as long as short