Funding arb · Price arb /

LIT

all LIT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0504%/8h= +55.2% APRpaid last 24h +0.102%

Price spread now: Hyperliquid against Phemex+0.248%7-day average +0.143% · you sell dearer than you buy

Net, funding: paid 7d − costs−$48as in the Funding arb table

Net, price: spread back to 7d avg − costs−$76as in the Price arb table

costs, in and out, $10k−$860.861% of the position

Long on Phemex Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.385%+$38 on $10k

Price spread, last 3 days (all we have)−0.027%−$3 · spread now +0.248%, 7d avg +0.143%

Together, before fees+0.357%+ Points / potential airdropHyperliquid: Season 2 · farm board+$36 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$15 a day on $10k at the current rate, and Hyperliquid is 0.105% dearer against Phemex than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of +0.143%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex LITUSDT	4.7230	−0.0305	get 0.0152% / 4h	11m 13s	$1.4M	$2.7M	20x
Short	Hyperliquid LIT	4.7347	0.0199	get 0.0025% / 1h	11m 13s	$212.3M	$45.0M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.248%Rate

Funding earned: $105.81
Price spread: +0.248% → +0.143%: $10.47
Slippage, 4 orders: −$65.12
Fee Phemex: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $30.16
Costs to cover: 0.861%
Break-even: 5.0 days

Slippage from Phemex: live order book, 2 min ago; Hyperliquid: live order book, 13 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 Phemex live order book, 2 min ago	7.42 bp	31.0 bp −$31	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 13 min ago	0.11 bp	12.8 bp −$13	doesn't fit	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
Gate LIT_USDT	−0.0820%	4h	4.7270	+0.085%	$2.8M	$4.6M	50x	as long as short
Deribit LIT_USDC-PERPETUAL	−0.0805%	1h	4.7245	+0.032%	$41K	$40K	10x	as long as short
Orderly PERP_LIT_USDC	−0.0544%	4h	4.7199	−0.066%	$32K	$2K	10x	as long as short
01 Exchange LITUSD	−0.0536%	1h	4.7136	−0.199%	$33K	$4K	5x	as long as short
Bullet LIT-USD	−0.0347%	1h	4.7245	+0.032%	$84K	$78K	20x	as long as short
OKX LIT-USDT-SWAP	−0.0342%	4h	4.7262	+0.068%	$25.6M	$63.9M	50x	as long as short
Phemex LITUSDTlong	−0.0305%	4h	4.7230	long leg	$1.4M	$2.7M	20x
KuCoin LITUSDTM	−0.0176%	4h	4.7265	+0.074%	$5.2M	$1.1M	30x	as long as short
Coinbase International LIT-PERP-INTX	−0.0120%	1h	4.7608	+0.801%	$673K	$402K	50x	as long as short
GRVT LIT_USDT_Perp	−0.0068%	4h	4.7229	−0.002%	$905K	$1.8M	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix LIT	−0.0050%	1h	4.7285	+0.116%	$205K	$353K	5x	as long as short
Perpl LIT	0.0000%	43m	4.7241	+0.024%	$32K	$852K	33x	as long as short
dYdX LIT-USD	0.0000%	1h	4.7281	+0.109%	$34K	—	5x	as long as short
gTrade (Gains Network) LIT/USD	L +0.0003% / S −0.0003%	1h	4.7293	+0.133%	$35K	—	150x	as long as short
RISEx LIT/USDC	+0.0012%	1h	4.7249	+0.040%	$817K	$2.1M	5x	as long as short
Paradex LIT-USD-PERP	+0.0031%	8h	4.7212	−0.039%	$7K	$2K	5x	as long as short
Injective LIT/USDC PERP	+0.0033%	1h	4.8040	+1.715%	$422	$178K	5.5x	as long as short
Bybit LITUSDT	+0.0036%	4h	4.7259	+0.061%	$42.6M	$30.2M	75x	as long as short
Lighter LIT	+0.0096%	1h	4.7297	+0.142%	$59.1M	$30.6M	5x	as long as short
Nado LIT-PERP	+0.0100%	1h	4.7245	+0.032%	$2.2M	$1.7M	10x	as long as short
Aster LITUSDT	+0.0100%	4h	4.7328	+0.207%	$12.6M	$2.4M	50x	as long as short
Pacifica LIT	+0.0100%	1h	4.7264	+0.072%	$588K	$1.7M	10x	as long as short
Binance LITUSDT	+0.0100%	4h	4.7221	−0.020%	$75.3M	$82.0M	75x	as long as short
Arcus LIT-USD	+0.0100%	1h	4.7231	+0.002%	$120K	$459K	5x	as long as short
Bulk LIT-USD	+0.0100%	1h	4.7316	+0.182%	$118K	$2K	10x	as long as short
MEXC LIT_USDT	+0.0100%	4h	4.7222	−0.017%	$5.6M	$4.1M	100x	as long as short
Bitget LITUSDT	+0.0100%	4h	4.7270	+0.085%	$6.7M	$2.8M	20x	as long as short
Backpack LIT_USDC_PERP	+0.0100%	1h	4.7294	+0.136%	$681K	$1.4M	5x	as long as short
edgeX LITUSDC	+0.0100%	4h	4.7244	+0.030%	$287K	$309K	10x	as long as short
ApeX Omni LITUSDT	+0.0100%	1h	4.7240	+0.021%	$55K	$77K	50x	as long as short
Polymarket Perps LIT-USD	+0.0100%	1h	4.7261	+0.066%	$447K	$105K	10x	as long as short
Derive LIT-PERP	+0.0100%	1h	4.7276	+0.098%	$2K	—	6.7x	as long as short
SunX LIT-USDT	+0.0100%	4h	4.7221	−0.019%	$4K	$1.2M	20x	as long as short
SoDEX LIT-USD	+0.0100%	1h	4.7251	+0.044%	$989	$471K	5x	as long as short
HTX LIT-USDT	+0.0100%	4h	4.7251	+0.044%	$189K	$346K	30x	as long as short
Extended LIT-USD	+0.0104%	1h	4.7236	+0.013%	$5.2M	$5.2M	25x	as long as short
Aevo LIT-PERP	+0.0104%	1h	4.7226	−0.009%	$148K	$44K	3x	as long as short
Aftermath Perps LITUSD	+0.0188%	1h	4.7297	+0.141%	$13K	$203K	10x	as long as short
Lighter RH LIT	+0.0192%	1h	4.7322	+0.195%	$3.7M	$14.0M	5x	as long as short
Hyperliquid LITshort	+0.0199%	1h	4.7347	+0.248%	$212.3M	$45.0M	5x
BloFin LIT-USDT	+0.0340%	4h	4.7232	+0.004%	$1.6M	$2.1M	75x	as long as short
GMX LIT/USD [ETH-USDC]	L +0.0377% / S −0.0169%	1h	4.7276	+0.098%	$62K	—	50x	as long as short