Funding arb · Price arb /

LIT

all LIT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0601%/8h= +65.8% APRpaid last 24h +0.064%

Price spread now: Lighter against Phemex+0.249%7-day average +0.147% · you sell dearer than you buy

Net, funding: paid 7d − costs−$40as in the Funding arb table

Net, price: spread back to 7d avg − costs−$63as in the Price arb table

costs, in and out, $10k−$730.735% of the position

Long on Phemex Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.332%+$33 on $10k

Price spread, last 3 days (all we have)+0.041%+$4 · spread now +0.249%, 7d avg +0.147%

Together, before fees+0.374%+ Points / potential airdropLighter: Season 3 · farm board+$37 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$18 a day on $10k at the current rate, and Lighter is 0.102% dearer against Phemex than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of +0.147%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.332% in total (about 17.3% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex LITUSDT	4.7420	−0.0505	get 0.0252% / 4h	1h 10m	$1.3M	$2.7M	20x
Short	Lighter LIT	4.7538	0.0096	get 0.0012% / 1h	10m 37s	$59.9M	$29.9M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.249%Rate

Funding earned: $126.17
Price spread: +0.249% → +0.147%: $10.15
Slippage, 4 orders: −$61.48
Fee Phemex: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: $62.84
Costs to cover: 0.735%
Break-even: 3.5 days

Slippage from Phemex: live order book, 3 min ago; Lighter: live order book, 8 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, 3 min ago	3.18 bp	34.1 bp −$34	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 8 min ago	0.11 bp	4.0 bp −$4	8.1 bp −$81	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	−0.1188%	4h	4.7550	+0.274%	$2.8M	$4.5M	50x	as long as short
Deribit LIT_USDC-PERPETUAL	−0.0714%	1h	4.7444	+0.051%	$42K	$40K	10x	as long as short
Backpack LIT_USDC_PERP	−0.0674%	1h	4.7476	+0.118%	$666K	$1.4M	5x	as long as short
Orderly PERP_LIT_USDC	−0.0624%	4h	4.7405	−0.032%	$32K	$2K	10x	as long as short
01 Exchange LITUSD	−0.0560%	1h	4.7447	+0.057%	$33K	$4K	5x	as long as short
Phemex LITUSDTlong	−0.0505%	4h	4.7420	long leg	$1.3M	$2.7M	20x
OKX LIT-USDT-SWAP	−0.0468%	4h	4.7491	+0.150%	$25.7M	$63.4M	50x	as long as short
Bullet LIT-USD	−0.0326%	1h	4.7425	+0.011%	$85K	$81K	20x	as long as short
Bybit LITUSDT	−0.0255%	4h	4.7460	+0.084%	$42.8M	$30.2M	75x	as long as short
Aftermath Perps LITUSD	−0.0253%	1h	4.7189	−0.487%	$10K	$202K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin LITUSDTM	−0.0244%	4h	4.7457	+0.078%	$5.2M	$1.1M	30x	as long as short
Coinbase International LIT-PERP-INTX	−0.0152%	1h	4.7507	+0.183%	$672K	$401K	50x	as long as short
GRVT LIT_USDT_Perp	−0.0134%	4h	4.7261	−0.335%	$900K	$1.8M	10x	as long as short
RISEx LIT/USDC	−0.0082%	1h	4.7536	+0.244%	$813K	$2.1M	5x	as long as short
Phoenix LIT	−0.0034%	1h	4.7192	−0.481%	$204K	$327K	5x	as long as short
Nado LIT-PERP	−0.0004%	1h	4.7395	−0.052%	$2.2M	$1.7M	10x	as long as short
dYdX LIT-USD	0.0000%	1h	4.7543	+0.260%	$34K	—	5x	as long as short
Perpl LIT	0.0000%	43m	4.7433	+0.027%	$32K	$839K	33x	as long as short
gTrade (Gains Network) LIT/USD	L +0.0003% / S −0.0003%	1h	4.7481	+0.128%	$35K	—	150x	as long as short
Paradex LIT-USD-PERP	+0.0005%	8h	4.7451	+0.066%	$7K	$2K	5x	as long as short
Injective LIT/USDC PERP	+0.0033%	1h	4.8040	+1.307%	$422	$178K	5.5x	as long as short
Binance LITUSDT	+0.0060%	4h	4.7441	+0.044%	$75.4M	$80.9M	75x	as long as short
edgeX LITUSDC	+0.0061%	4h	4.7175	−0.517%	$287K	$309K	10x	as long as short
MEXC LIT_USDT	+0.0062%	4h	4.7433	+0.027%	$5.7M	$4.2M	100x	as long as short
Aevo LIT-PERP	+0.0072%	1h	4.7430	+0.021%	$148K	$44K	3x	as long as short
Lighter LITshort	+0.0096%	1h	4.7538	+0.249%	$59.9M	$29.9M	5x
Hyperliquid LIT	+0.0100%	1h	4.7545	+0.264%	$212.4M	$44.5M	5x	as long as short
Aster LITUSDT	+0.0100%	4h	4.7511	+0.192%	$12.7M	$2.4M	50x	as long as short
Pacifica LIT	+0.0100%	1h	4.7510	+0.190%	$608K	$1.7M	10x	as long as short
Arcus LIT-USD	+0.0100%	1h	4.7482	+0.131%	$118K	$450K	5x	as long as short
Bulk LIT-USD	+0.0100%	1h	4.7396	−0.051%	$118K	$6K	10x	as long as short
Bitget LITUSDT	+0.0100%	4h	4.7520	+0.211%	$6.7M	$2.7M	20x	as long as short
ApeX Omni LITUSDT	+0.0100%	1h	4.7280	−0.295%	$55K	$76K	50x	as long as short
Polymarket Perps LIT-USD	+0.0100%	1h	4.7438	+0.038%	$448K	$105K	10x	as long as short
Derive LIT-PERP	+0.0100%	1h	4.7491	+0.149%	$2K	$650	6.7x	as long as short
SunX LIT-USDT	+0.0100%	4h	4.7404	−0.034%	$4K	$1.2M	20x	as long as short
SoDEX LIT-USD	+0.0100%	1h	4.7448	+0.059%	$1K	$465K	5x	as long as short
HTX LIT-USDT	+0.0100%	4h	4.7467	+0.099%	$190K	$329K	30x	as long as short
Extended LIT-USD	+0.0104%	1h	4.7493	+0.154%	$5.2M	$5.1M	25x	as long as short
Lighter RH LIT	+0.0192%	1h	4.7551	+0.276%	$3.7M	$13.8M	5x	as long as short
BloFin LIT-USDT	+0.0249%	4h	4.7426	+0.013%	$1.5M	$2.1M	75x	as long as short
GMX LIT/USD [ETH-USDC]	L +0.0377% / S −0.0169%	1h	4.7485	+0.137%	$62K	—	50x	as long as short