Funding arb · Price arb /

LIT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:57 UTC−0.0078%/8h= −8.6% APRpaid last 24h −0.080%

Price spread now: Phoenix against Perpl+0.074%7-day average +0.058% · you sell dearer than you buy

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

Long on Perpl Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.061%+$6 on $10k

Price spread, last 4 days (all we have)−0.103%−$10 · spread now +0.074%, 7d avg +0.058%

Together, before fees−0.041%+ Points / potential airdropPerpl: Active · farm board−$4 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.058%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.061%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Perpl LIT	4.7664	0.0112	pay 0.0010% / 43m	6m 15s	$31K	$677K	33x
Short	Phoenix LIT	4.7699	0.0033	get 0.0004% / 1h	43m 15s	$205K	$301K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Perpl. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 PhoenixbpOrdersPrice spread, now +0.074%Rate

Funding earned: −$16.46
Price spread: +0.074% → +0.058%: $1.61
Slippage, 4 orders: no order book: not counted
Fee Perpl: 6.9 bp × 2 orders: −$13.8
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$35.65
Costs to cover: 0.208%
Break-even: never at this rate

Slippage unknown: Perpl: no order-book sample; Phoenix: live order book, 63 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 Perpl no order-book sample	—	—	—	—	—
Sell Phoenix live order book, 63 min ago	1.90 bp	16.1 bp −$16	50.3 bp −$503	doesn't fit	doesn't fit

Perpl: 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	−0.0589%	1h	4.7645	−0.040%	$42K	$40K	10x	as long as short
Coinbase International LIT-PERP-INTX	−0.0440%	1h	4.7761	+0.205%	$605K	$352K	50x	as long as short
Orderly PERP_LIT_USDC	−0.0389%	4h	4.7578	−0.180%	$33K	$1K	10x	as long as short
01 Exchange LITUSD	−0.0264%	1h	4.7583	−0.169%	$31K	$3K	5x	as long as short
Bullet LIT-USD	−0.0235%	1h	4.7637	−0.056%	$85K	$66K	20x	as long as short
OKX LIT-USDT-SWAP	−0.0174%	4h	4.7646	−0.037%	$25.5M	$61.1M	50x	as long as short
Backpack LIT_USDC_PERP	−0.0109%	1h	4.7654	−0.020%	$672K	$1.1M	5x	as long as short
GRVT LIT_USDT_Perp	−0.0074%	4h	4.7668	+0.008%	$880K	$2.0M	10x	as long as short
dYdX LIT-USD	0.0000%	1h	4.7661	−0.005%	$34K	—	5x	as long as short
gTrade (Gains Network) LIT/USD	L +0.0003% / S −0.0002%	1h	4.7680	+0.035%	$11K	—	150x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix LITshort	+0.0033%	1h	4.7699	+0.074%	$205K	$301K	5x
Injective LIT/USDC PERP	+0.0033%	1h	4.8040	+0.790%	$422	$178K	5.5x	as long as short
ApeX Omni LITUSDT	+0.0040%	1h	4.7650	−0.029%	$57K	$73K	50x	as long as short
Phemex LITUSDT	+0.0068%	4h	4.7630	−0.070%	$1.3M	$2.8M	20x	as long as short
KuCoin LITUSDTM	+0.0070%	4h	4.7676	+0.026%	$5.4M	$989K	30x	as long as short
Bybit LITUSDT	+0.0074%	4h	4.7633	−0.064%	$41.3M	$28.6M	75x	as long as short
Paradex LIT-USD-PERP	+0.0090%	8h	4.7593	−0.149%	$7K	$2K	5x	as long as short
Lighter LIT	+0.0096%	1h	4.7697	+0.070%	$59.3M	$27.3M	5x	as long as short
Nado LIT-PERP	+0.0100%	1h	4.7675	+0.025%	$2.1M	$1.6M	10x	as long as short
Pacifica LIT	+0.0100%	1h	4.7665	+0.003%	$619K	$1.7M	10x	as long as short
Binance LITUSDT	+0.0100%	4h	4.7614	−0.104%	$76.2M	$76.7M	75x	as long as short
Arcus LIT-USD	+0.0100%	1h	4.7637	−0.056%	$123K	$457K	5x	as long as short
Bulk LIT-USD	+0.0100%	1h	4.7710	+0.097%	$119K	$7K	10x	as long as short
Gate LIT_USDT	+0.0100%	4h	4.7670	+0.013%	$2.8M	$4.1M	50x	as long as short
MEXC LIT_USDT	+0.0100%	4h	4.7623	−0.085%	$5.8M	$3.9M	100x	as long as short
Bitget LITUSDT	+0.0100%	4h	4.7660	−0.008%	$6.8M	$2.5M	20x	as long as short
edgeX LITUSDC	+0.0100%	4h	4.7649	−0.030%	$291K	$305K	10x	as long as short
Polymarket Perps LIT-USD	+0.0100%	1h	4.7644	−0.041%	$447K	$83K	10x	as long as short
Derive LIT-PERP	+0.0100%	1h	4.7674	+0.023%	$2K	—	6.7x	as long as short
SunX LIT-USDT	+0.0100%	4h	4.7628	−0.075%	$4K	$1.1M	20x	as long as short
SoDEX LIT-USD	+0.0100%	1h	4.7641	−0.047%	$1K	$331K	5x	as long as short
HTX LIT-USDT	+0.0100%	4h	4.7879	+0.452%	$199K	$322K	30x	as long as short
Extended LIT-USD	+0.0104%	1h	4.7635	−0.061%	$5.1M	$5.2M	25x	as long as short
Aevo LIT-PERP	+0.0104%	1h	4.7605	−0.123%	$149K	—	3x	as long as short
Perpl LITlong	+0.0112%	43m	4.7664	long leg	$31K	$677K	33x
RISEx LIT/USDC	+0.0148%	1h	4.7651	−0.026%	$795K	$2.2M	5x	as long as short
Aftermath Perps LITUSD	+0.0184%	1h	4.7740	+0.161%	$9K	$210K	10x	as long as short
Aster LITUSDT	+0.0214%	4h	4.7699	+0.073%	$12.8M	$2.0M	50x	as long as short
Hyperliquid LIT	+0.0301%	1h	4.7729	+0.137%	$215.3M	$40.5M	5x	as long as short
BloFin LIT-USDT	+0.0340%	4h	4.7608	−0.117%	$1.6M	$2.3M	75x	as long as short
Lighter RH LIT	+0.0344%	1h	4.7719	+0.116%	$3.7M	$13.1M	5x	as long as short
GMX LIT/USD [ETH-USDC]	L +0.0424% / S −0.0217%	1h	4.7671	+0.016%	$64K	—	50x	as long as short