Funding arb · Price arb /

LIT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0109%/8h= +12.0% APRpaid last 24h +0.067%

Price spread now: Nado against Phemex−0.117%7-day average +0.013% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$86as in the Price arb table

costs, in and out, $10k−$730.732% of the position

Long on Phemex Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.118%+$12 on $10k

Price spread, last 4 days (all we have)+0.333%+$33 · spread now −0.117%, 7d avg +0.013%

Together, before fees+0.451%+ Points / potential airdropNado: Active · farm board+$45 on $10k · with fees, hour by hour

Funding pays, the price is against you. Nado is 0.130% cheaper against Phemex than usual: you would sell low and buy high (spread −0.117% now, against its 7-day average of +0.013%). If the spread goes back, that is −$13 on $10k: about 4.0 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex LITUSDT	4.7060	−0.0009	get 0.0005% / 4h	1h 13m	$1.4M	$2.8M	20x
Short	Nado LIT-PERP	4.7005	0.0100	get 0.0012% / 1h	13m 33s	$2.2M	$1.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Phemex. 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 PhemexbpFee NadobpOrdersPrice spread, now −0.117%Rate

Funding earned: $22.98
Price spread: −0.117% → +0.013%: −$13
Slippage, 4 orders: −$54.18
Fee Phemex: 6 bp × 2 orders: −$12
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$63.2
Costs to cover: 0.732%
Break-even: 26.2 days

Slippage from Phemex: live order book, 5 min ago; Nado: live order book, 5 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, 5 min ago	6.36 bp	27.2 bp −$27	doesn't fit	doesn't fit	doesn't fit
Sell Nado live order book, 5 min ago	0.85 bp	8.6 bp −$9	32.5 bp −$325	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
Deribit LIT_USDC-PERPETUAL	−0.0466%	1h	4.7034	−0.055%	$41K	$40K	10x	as long as short
Orderly PERP_LIT_USDC	−0.0382%	4h	4.6965	−0.202%	$32K	$1K	10x	as long as short
01 Exchange LITUSD	−0.0296%	1h	4.6987	−0.155%	$33K	$4K	5x	as long as short
Bullet LIT-USD	−0.0243%	1h	4.7002	−0.122%	$84K	$68K	20x	as long as short
Gate LIT_USDT	−0.0090%	4h	4.7070	+0.021%	$2.8M	$4.3M	50x	as long as short
Phoenix LIT	−0.0085%	1h	4.7480	+0.892%	$204K	$341K	5x	as long as short
Coinbase International LIT-PERP-INTX	−0.0024%	1h	4.6800	−0.553%	$611K	$411K	50x	as long as short
Phemex LITUSDTlong	−0.0009%	4h	4.7060	long leg	$1.4M	$2.8M	20x
gTrade (Gains Network) LIT/USD	L +0.0003% / S −0.0002%	1h	4.7059	−0.002%	$11K	—	150x	as long as short
dYdX LIT-USD	+0.0005%	1h	4.7041	−0.041%	$34K	—	5x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX LIT-USDT-SWAP	+0.0022%	4h	4.7037	−0.049%	$25.3M	$62.1M	50x	as long as short
Injective LIT/USDC PERP	+0.0033%	1h	4.8040	+2.082%	$422	$178K	5.5x	as long as short
KuCoin LITUSDTM	+0.0046%	4h	4.7047	−0.028%	$5.2M	$1.0M	30x	as long as short
Paradex LIT-USD-PERP	+0.0074%	8h	4.7006	−0.115%	$7K	$2K	5x	as long as short
GRVT LIT_USDT_Perp	+0.0082%	4h	4.7444	+0.816%	$927K	$1.7M	10x	as long as short
Bybit LITUSDT	+0.0096%	4h	4.7020	−0.085%	$41.7M	$28.7M	75x	as long as short
Lighter LIT	+0.0096%	1h	4.7059	−0.002%	$58.6M	$28.9M	5x	as long as short
Lighter RH LIT	+0.0096%	1h	4.7075	+0.032%	$3.7M	$13.3M	5x	as long as short
ApeX Omni LITUSDT	+0.0099%	1h	4.7460	+0.850%	$57K	$76K	50x	as long as short
RISEx LIT/USDC	+0.0099%	1h	4.7054	−0.014%	$784K	$2.1M	5x	as long as short
Nado LIT-PERPshort	+0.0100%	1h	4.7005	−0.117%	$2.2M	$1.7M	10x
Hyperliquid LIT	+0.0100%	1h	4.7044	−0.034%	$210.2M	$41.8M	5x	as long as short
Pacifica LIT	+0.0100%	1h	4.7028	−0.068%	$581K	$1.6M	10x	as long as short
Binance LITUSDT	+0.0100%	4h	4.7008	−0.110%	$74.9M	$79.0M	75x	as long as short
Arcus LIT-USD	+0.0100%	1h	4.7050	−0.021%	$123K	$454K	5x	as long as short
MEXC LIT_USDT	+0.0100%	4h	4.7003	−0.121%	$5.5M	$3.9M	100x	as long as short
Bitget LITUSDT	+0.0100%	4h	4.7040	−0.042%	$6.7M	$2.6M	20x	as long as short
Backpack LIT_USDC_PERP	+0.0100%	1h	4.7063	+0.006%	$669K	$1.4M	5x	as long as short
edgeX LITUSDC	+0.0100%	4h	4.7387	+0.694%	$289K	$305K	10x	as long as short
Polymarket Perps LIT-USD	+0.0100%	1h	4.7016	−0.093%	$439K	$110K	10x	as long as short
Derive LIT-PERP	+0.0100%	1h	4.7068	+0.017%	$2K	—	6.7x	as long as short
SunX LIT-USDT	+0.0100%	4h	4.6981	−0.168%	$4K	$1.2M	20x	as long as short
SoDEX LIT-USD	+0.0100%	1h	4.7045	−0.032%	$2K	$400K	5x	as long as short
HTX LIT-USDT	+0.0100%	4h	4.7445	+0.818%	$196K	$380K	30x	as long as short
Bulk LIT-USD	+0.0100%	1h	4.7305	+0.521%	$118K	$973	10x	as long as short
Extended LIT-USD	+0.0104%	1h	4.7003	−0.121%	$5.2M	$5.0M	25x	as long as short
Aevo LIT-PERP	+0.0104%	1h	4.7052	−0.016%	$147K	—	3x	as long as short
Aftermath Perps LITUSD	+0.0177%	1h	4.7149	+0.190%	$9K	$205K	10x	as long as short
Aster LITUSDT	+0.0213%	4h	4.7074	+0.030%	$12.6M	$2.0M	50x	as long as short
BloFin LIT-USDT	+0.0340%	4h	4.7038	−0.047%	$1.6M	$1.9M	75x	as long as short
GMX LIT/USD [ETH-USDC]	L +0.0415% / S −0.0213%	1h	4.7063	+0.006%	$63K	—	50x	as long as short
Perpl LIT	+0.0447%	43m	4.7034	−0.056%	$31K	$814K	33x	as long as short