Funding arb · Price arb /

LIT

all LIT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0060%/8h= −6.6% APRpaid last 24h +0.054%

Price spread now: Phoenix against Phemex−0.250%73s7-day average +0.139% · you buy dearer than you sell

Net, funding: paid 7d − costs−$86as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1081.076% of the position

Long on Phemex Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.217%+$22 on $10k

Price spread, last 3 days (all we have)+0.413%+$41 · spread now −0.250%, 7d avg +0.139%

Together, before fees+0.630%+$63 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Phoenix is 0.389% cheaper against Phemex than usual: you would sell low and buy high (−$39 if the spread goes back to its 7-day average of +0.139%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.217%, so the current rate has only just turned against you. The two prices were read 73 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex LITUSDT	4.7190	−0.0042	get 0.0021% / 4h	2h 29m	$1.4M	$2.7M	20x
Short	Phoenix LIT	4.7072	−0.0102	pay 0.0013% / 1h	29m 43s	$203K	$352K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now −0.250%Rate

Funding earned: −$12.59
Price spread: −0.250% → +0.139%: −$38.9
Slippage, 4 orders: −$88.57
Fee Phemex: 6 bp × 2 orders: −$12
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$159.06
Costs to cover: 1.076%
Break-even: never at this rate

Slippage from Phemex: live order book, 4 min ago; Phoenix: live order book, 36 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, 4 min ago	8.51 bp	37.8 bp −$38	doesn't fit	doesn't fit	doesn't fit
Sell Phoenix live order book, 36 min ago	2.10 bp	16.0 bp −$16	50.2 bp −$502	doesn't fit	doesn't fit

LIT on 41 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
01 Exchange LITUSD	−0.0624%	1h	4.7134	−0.119%	$33K	$4K	5x	as long as short
Orderly PERP_LIT_USDC	−0.0465%	4h	4.7152	−0.081%	$32K	$2K	10x	as long as short
Deribit LIT_USDC-PERPETUAL	−0.0459%	1h	4.7222	+0.069%	$41K	$40K	10x	as long as short
Bullet LIT-USD	−0.0450%	1h	4.7194	+0.009%	$85K	$73K	20x	as long as short
Gate LIT_USDT	−0.0194%	4h	4.7200	+0.021%	$2.8M	$4.3M	50x	as long as short
GRVT LIT_USDT_Perp	−0.0152%	4h	4.7010	−0.382%	$904K	$1.8M	10x	as long as short
OKX LIT-USDT-SWAP	−0.0152%	4h	4.7212	+0.047%	$25.6M	$63.8M	50x	as long as short
KuCoin LITUSDTM	−0.0142%	4h	4.7195	+0.011%	$5.3M	$1.1M	30x	as long as short
ApeX Omni LITUSDT	−0.0112%	1h	4.7030	−0.339%	$56K	$77K	50x	as long as short
Phoenix LITshort	−0.0102%	1h	4.7072	−0.250%	$203K	$352K	5x

Show all 41 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International LIT-PERP-INTX	−0.0080%	1h	4.7209	+0.040%	$668K	$372K	50x	as long as short
Phemex LITUSDTlong	−0.0042%	4h	4.7190	long leg	$1.4M	$2.7M	20x
Backpack LIT_USDC_PERP	−0.0042%	1h	4.7260	+0.148%	$682K	$1.4M	5x	as long as short
dYdX LIT-USD	0.0000%	1h	4.7202	+0.026%	$34K	—	5x	as long as short
gTrade (Gains Network) LIT/USD	L +0.0003% / S 0.0000%	1h	4.7258	+0.144%	$473	—	150x	as long as short
Bulk LIT-USD	+0.0030%	1h	4.6912	−0.590%	$117K	$1K	10x	as long as short
Injective LIT/USDC PERP	+0.0033%	1h	4.8040	+1.801%	$422	$178K	5.5x	as long as short
Paradex LIT-USD-PERP	+0.0034%	8h	4.7147	−0.092%	$7K	$2K	5x	as long as short
SoDEX LIT-USD	+0.0066%	1h	4.7220	+0.064%	$1K	$450K	5x	as long as short
RISEx LIT/USDC	+0.0081%	1h	4.7235	+0.095%	$787K	$2.0M	5x	as long as short
Bybit LITUSDT	+0.0087%	4h	4.7190	0.000%	$42.3M	$29.3M	75x	as long as short
Lighter LIT	+0.0096%	1h	4.7233	+0.091%	$59.2M	$29.5M	5x	as long as short
Lighter RH LIT	+0.0096%	1h	4.7261	+0.150%	$3.7M	$13.3M	5x	as long as short
Nado LIT-PERP	+0.0100%	1h	4.7215	+0.053%	$2.2M	$1.7M	10x	as long as short
Hyperliquid LIT	+0.0100%	1h	4.7226	+0.076%	$211.3M	$43.9M	5x	as long as short
Aster LITUSDT	+0.0100%	4h	4.7297	+0.227%	$12.7M	$2.1M	50x	as long as short
Pacifica LIT	+0.0100%	1h	4.7182	−0.017%	$586K	$1.7M	10x	as long as short
Binance LITUSDT	+0.0100%	4h	4.7178	−0.026%	$75.3M	$80.5M	75x	as long as short
Arcus LIT-USD	+0.0100%	1h	4.7192	+0.004%	$117K	$448K	5x	as long as short
MEXC LIT_USDT	+0.0100%	4h	4.7200	+0.021%	$5.5M	$4.1M	100x	as long as short
Bitget LITUSDT	+0.0100%	4h	4.7230	+0.085%	$6.7M	$2.7M	20x	as long as short
edgeX LITUSDC	+0.0100%	4h	4.6972	−0.462%	$286K	$306K	10x	as long as short
Polymarket Perps LIT-USD	+0.0100%	1h	4.7208	+0.038%	$446K	$104K	10x	as long as short
Derive LIT-PERP	+0.0100%	1h	4.7258	+0.144%	$2K	—	6.7x	as long as short
SunX LIT-USDT	+0.0100%	4h	4.7248	+0.123%	$5K	$1.2M	20x	as long as short
HTX LIT-USDT	+0.0100%	4h	4.7128	−0.131%	$189K	$354K	30x	as long as short
Extended LIT-USD	+0.0104%	1h	4.7194	+0.008%	$5.2M	$5.1M	25x	as long as short
Aevo LIT-PERP	+0.0104%	1h	4.7195	+0.010%	$148K	—	3x	as long as short
Aftermath Perps LITUSD	+0.0276%	1h	4.7056	−0.284%	$9K	$211K	10x	as long as short
GMX LIT/USD [ETH-USDC]	L +0.0406% / S −0.0199%	1h	4.7250	+0.127%	$64K	—	50x	as long as short
Perpl LIT	+0.0447%	43m	4.7213	+0.048%	$31K	$862K	33x	as long as short