Funding arb · Price arb /

LIT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:12 UTC−0.0100%/8h= −10.9% APRpaid last 24h +0.119%

Price spread now: Perpl against Phemex+0.096%7-day average +0.075% · you sell dearer than you buy

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

Long on Phemex Short on Perpl

What this pair did over the last

the charts below follow

Funding, last 7 days+0.097%+$10 on $10k

Price spread, last 3 days (all we have)+0.095%+$10 · spread now +0.096%, 7d avg +0.075%

Together, before fees+0.192%+ Points / potential airdropPerpl: Active · farm board+$19 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Perpl is 0.022% dearer against Phemex than usual: you sell high and buy low (spread +0.096% now, against its 7-day average of +0.075%): +$2 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 17 hours. Mind the row above: over the last 7 days funding on this pair paid +0.097%, 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	Phemex LITUSDT	4.7620	0.0100	pay 0.0050% / 4h	3h 16m	$1.4M	$2.7M	20x
Short	Perpl LIT	4.7666	0	get 0.0000% / 43m	38m 48s	$32K	$853K	33x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Perpl 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 PerplbpOrdersPrice spread, now +0.096%Rate

Funding earned: −$21
Price spread: +0.096% → +0.075%: $2.17
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Perpl: 6.9 bp × 2 orders: −$13.8
Net: −$44.63
Costs to cover: 0.258%
Break-even: never at this rate

Slippage unknown: Phemex: live order book, 2 min ago; Perpl: 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, 2 min ago	8.42 bp	43.1 bp −$43	doesn't fit	doesn't fit	doesn't fit
Sell Perpl no order-book sample	—	—	—	—	—

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	−0.0718%	1h	4.7682	+0.130%	$42K	$40K	10x	as long as short
Orderly PERP_LIT_USDC	−0.0489%	4h	4.7608	−0.025%	$33K	$2K	10x	as long as short
01 Exchange LITUSD	−0.0424%	1h	4.7574	−0.097%	$33K	$4K	5x	as long as short
Bullet LIT-USD	−0.0351%	1h	4.7638	+0.037%	$85K	$72K	20x	as long as short
ApeX Omni LITUSDT	−0.0216%	1h	4.7530	−0.189%	$57K	$77K	50x	as long as short
OKX LIT-USDT-SWAP	−0.0202%	4h	4.7680	+0.126%	$25.9M	$63.8M	50x	as long as short
KuCoin LITUSDTM	−0.0130%	4h	4.7625	+0.010%	$5.3M	$1.1M	30x	as long as short
Coinbase International LIT-PERP-INTX	−0.0088%	1h	4.7644	+0.051%	$674K	$391K	50x	as long as short
GRVT LIT_USDT_Perp	−0.0064%	4h	4.7540	−0.168%	$909K	$1.8M	10x	as long as short
Phoenix LIT	−0.0034%	1h	4.7641	+0.044%	$207K	$361K	5x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Perpl LITshort	0.0000%	43m	4.7666	+0.096%	$32K	$853K	33x
dYdX LIT-USD	+0.0003%	1h	4.7732	+0.236%	$34K	—	5x	as long as short
gTrade (Gains Network) LIT/USD	L +0.0003% / S −0.0002%	1h	4.7719	+0.208%	$11K	—	150x	as long as short
Injective LIT/USDC PERP	+0.0033%	1h	4.8040	+0.882%	$422	$178K	5.5x	as long as short
Nado LIT-PERP	+0.0043%	1h	4.7641	+0.045%	$2.2M	$1.7M	10x	as long as short
Paradex LIT-USD-PERP	+0.0045%	8h	4.7586	−0.071%	$7K	$2K	5x	as long as short
Polymarket Perps LIT-USD	+0.0091%	1h	4.7656	+0.076%	$450K	$104K	10x	as long as short
Lighter LIT	+0.0096%	1h	4.7749	+0.271%	$59.7M	$30.0M	5x	as long as short
Aster LITUSDT	+0.0100%	4h	4.7697	+0.162%	$12.7M	$2.1M	50x	as long as short
Pacifica LIT	+0.0100%	1h	4.7707	+0.182%	$591K	$1.6M	10x	as long as short
Binance LITUSDT	+0.0100%	4h	4.7662	+0.088%	$76.1M	$80.2M	75x	as long as short
Bybit LITUSDT	+0.0100%	4h	4.7660	+0.084%	$42.9M	$29.7M	75x	as long as short
Arcus LIT-USD	+0.0100%	1h	4.7641	+0.044%	$118K	$450K	5x	as long as short
Bulk LIT-USD	+0.0100%	1h	4.7476	−0.302%	$119K	$1K	10x	as long as short
Gate LIT_USDT	+0.0100%	4h	4.7640	+0.042%	$2.8M	$4.5M	50x	as long as short
MEXC LIT_USDT	+0.0100%	4h	4.7635	+0.031%	$5.6M	$4.2M	100x	as long as short
Bitget LITUSDT	+0.0100%	4h	4.7720	+0.210%	$6.8M	$2.7M	20x	as long as short
Backpack LIT_USDC_PERP	+0.0100%	1h	4.7692	+0.151%	$691K	$1.4M	5x	as long as short
edgeX LITUSDC	+0.0100%	4h	4.7504	−0.244%	$289K	$308K	10x	as long as short
Derive LIT-PERP	+0.0100%	1h	4.7715	+0.199%	$2K	—	6.7x	as long as short
SunX LIT-USDT	+0.0100%	4h	4.7621	+0.002%	$4K	$1.2M	20x	as long as short
SoDEX LIT-USD	+0.0100%	1h	4.7675	+0.115%	$988	$453K	5x	as long as short
HTX LIT-USDT	+0.0100%	4h	4.7673	+0.111%	$190K	$346K	30x	as long as short
Phemex LITUSDTlong	+0.0100%	4h	4.7620	long leg	$1.4M	$2.7M	20x
Extended LIT-USD	+0.0104%	1h	4.7619	−0.003%	$5.2M	$5.1M	25x	as long as short
Aevo LIT-PERP	+0.0104%	1h	4.7657	+0.078%	$149K	—	3x	as long as short
RISEx LIT/USDC	+0.0119%	1h	4.7668	+0.100%	$794K	$2.0M	5x	as long as short
Lighter RH LIT	+0.0184%	1h	4.7772	+0.319%	$3.7M	$13.7M	5x	as long as short
BloFin LIT-USDT	+0.0340%	4h	4.7632	+0.025%	$1.6M	$2.0M	75x	as long as short
Hyperliquid LIT	+0.0343%	1h	4.7785	+0.346%	$214.5M	$43.9M	5x	as long as short
GMX LIT/USD [ETH-USDC]	L +0.0399% / S −0.0188%	1h	4.7694	+0.156%	$64K	—	50x	as long as short
Aftermath Perps LITUSD	+0.0403%	1h	4.7603	−0.035%	$9K	$203K	10x	as long as short