Funding arb · Price arb /

LIT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0113%/8h= −12.3% APRpaid last 24h −0.116%

Price spread now: Deribit against Phemex+0.050%7-day average — · you sell dearer than you buy

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

Long on Phemex Short on Deribit

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

The price spread pays, funding is against you. Deribit is 0.050% dearer against Phemex than usual: you sell high and buy low (spread +0.050% now, against zero (this spread has no 7-day history yet)): +$5 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 35 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex LITUSDT	4.7140	−0.0101	get 0.0051% / 4h	3h 59m	$1.4M	$2.8M	20x
Short	Deribit LIT_USDC-PERPETUAL	4.7164	−0.0214	pay 0.0027% / 1h	59m 43s	$41K	$40K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Phemex. 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 PhemexbpFee DeribitbpOrdersPrice spread, now +0.050%Rate

Funding earned: −$23.67
Price spread: +0.050% → 0.000%: $4.99
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$37.68
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Phemex: live order book, 4 min ago; Deribit: 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 Phemex live order book, 4 min ago	4.25 bp	24.6 bp −$25	doesn't fit	doesn't fit	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: 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
Orderly PERP_LIT_USDC	−0.0393%	4h	4.7099	−0.087%	$32K	$1K	10x	as long as short
01 Exchange LITUSD	−0.0376%	1h	4.7050	−0.191%	$33K	$3K	5x	as long as short
Bullet LIT-USD	−0.0292%	1h	4.7134	−0.012%	$84K	$68K	20x	as long as short
Deribit LIT_USDC-PERPETUALshort	−0.0214%	1h	4.7164	+0.050%	$41K	$40K	10x
Coinbase International LIT-PERP-INTX	−0.0192%	1h	4.6904	−0.501%	$613K	$352K	50x	as long as short
Gate LIT_USDT	−0.0122%	4h	4.7140	0.000%	$2.7M	$4.2M	50x	as long as short
Phemex LITUSDTlong	−0.0101%	4h	4.7140	long leg	$1.4M	$2.8M	20x
Phoenix LIT	−0.0034%	1h	4.7099	−0.087%	$203K	$305K	5x	as long as short
RISEx LIT/USDC	−0.0008%	1h	4.7118	−0.047%	$786K	$2.1M	5x	as long as short
dYdX LIT-USD	0.0000%	1h	4.7181	+0.087%	$34K	—	5x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) LIT/USD	L +0.0003% / S −0.0002%	1h	4.7189	+0.104%	$11K	—	150x	as long as short
OKX LIT-USDT-SWAP	+0.0004%	4h	4.7121	−0.040%	$25.3M	$61.3M	50x	as long as short
KuCoin LITUSDTM	+0.0014%	4h	4.7120	−0.042%	$5.3M	$1.0M	30x	as long as short
Injective LIT/USDC PERP	+0.0033%	1h	4.8040	+1.909%	$422	$178K	5.5x	as long as short
Aftermath Perps LITUSD	+0.0058%	1h	4.7111	−0.062%	$10K	$204K	10x	as long as short
Nado LIT-PERP	+0.0061%	1h	4.7156	+0.033%	$2.2M	$1.7M	10x	as long as short
Backpack LIT_USDC_PERP	+0.0064%	1h	4.7177	+0.078%	$662K	$1.4M	5x	as long as short
ApeX Omni LITUSDT	+0.0067%	1h	4.7080	−0.127%	$56K	$76K	50x	as long as short
Paradex LIT-USD-PERP	+0.0070%	8h	4.7067	−0.154%	$6K	$2K	5x	as long as short
Extended LIT-USD	+0.0072%	1h	4.7100	−0.086%	$5.2M	$5.0M	25x	as long as short
Lighter LIT	+0.0096%	1h	4.7190	+0.106%	$58.8M	$27.9M	5x	as long as short
Lighter RH LIT	+0.0096%	1h	4.7216	+0.161%	$3.8M	$13.5M	5x	as long as short
Hyperliquid LIT	+0.0100%	1h	4.7196	+0.119%	$210.7M	$42.1M	5x	as long as short
Pacifica LIT	+0.0100%	1h	4.7143	+0.006%	$576K	$1.6M	10x	as long as short
Binance LITUSDT	+0.0100%	4h	4.7115	−0.053%	$75.5M	$79.3M	75x	as long as short
Bybit LITUSDT	+0.0100%	4h	4.7121	−0.040%	$41.3M	$28.9M	75x	as long as short
Arcus LIT-USD	+0.0100%	1h	4.7122	−0.038%	$118K	$452K	5x	as long as short
Bulk LIT-USD	+0.0100%	1h	4.7058	−0.174%	$120K	$4K	10x	as long as short
MEXC LIT_USDT	+0.0100%	4h	4.7113	−0.057%	$5.7M	$3.8M	100x	as long as short
Bitget LITUSDT	+0.0100%	4h	4.7160	+0.042%	$6.7M	$2.6M	20x	as long as short
edgeX LITUSDC	+0.0100%	4h	4.7105	−0.073%	$288K	$305K	10x	as long as short
GRVT LIT_USDT_Perp	+0.0100%	4h	4.7089	−0.108%	$906K	$1.7M	10x	as long as short
Polymarket Perps LIT-USD	+0.0100%	1h	4.7154	+0.030%	$441K	$109K	10x	as long as short
Derive LIT-PERP	+0.0100%	1h	4.7192	+0.110%	$2K	—	6.7x	as long as short
SunX LIT-USDT	+0.0100%	4h	4.7154	+0.030%	$5K	$1.2M	20x	as long as short
SoDEX LIT-USD	+0.0100%	1h	4.7154	+0.030%	$1K	$387K	5x	as long as short
HTX LIT-USDT	+0.0100%	4h	4.7182	+0.089%	$199K	$360K	30x	as long as short
Aevo LIT-PERP	+0.0104%	1h	4.7146	+0.012%	$147K	—	3x	as long as short
Perpl LIT	+0.0112%	43m	4.7169	+0.062%	$31K	$760K	33x	as long as short
Aster LITUSDT	+0.0249%	4h	4.7212	+0.152%	$12.6M	$1.9M	50x	as long as short
BloFin LIT-USDT	+0.0340%	4h	4.7082	−0.123%	$1.5M	$1.9M	75x	as long as short
GMX LIT/USD [ETH-USDC]	L +0.0436% / S −0.0231%	1h	4.7189	+0.105%	$65K	—	50x	as long as short