Funding arb · Price arb /

LIT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0175%/8h= +19.2% APRpaid last 24h +0.042%

Price spread now: Aster against Phoenix−0.163%65s7-day average −0.049% · 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—prices read too far apart to compare

costs, in and out, $10k−$500.497% of the position

Long on Phoenix Short on Aster

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)−0.005%−$1 on $10k

Price spread, last 4 days (all we have)−3.146%−$315 · spread now −0.163%, 7d avg −0.049%

Together, before fees−3.151%+ Points / potential airdropAster: Stage 5 · farm board−$315 on $10k · with fees, hour by hour

Funding pays, the price is against you. Aster is 0.114% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.163% now, against its 7-day average of −0.049%). If the spread goes back, that is −$11 on $10k: about 2.2 days of funding at the current rate (+$5 a day). The two prices were read 65 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	Phoenix LIT	4.7831	0.0050	pay 0.0006% / 1h	24m 21s	$205K	$293K	5x
Short	Aster LITUSDT	4.7753	0.0225	get 0.0113% / 4h	24m 21s	$12.8M	$2.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Phoenix. 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 PhoenixbpFee AsterbpOrdersPrice spread, now −0.163%Rate

Funding earned: $36.79
Price spread: −0.163% → −0.049%: −$11.41
Slippage, 4 orders: −$34.69
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Aster: 4 bp × 2 orders: −$8
Net: −$24.31
Costs to cover: 0.497%
Break-even: 11.6 days

Slippage from Phoenix: live order book, 12 min ago; Aster: 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 Phoenix live order book, 12 min ago	2.09 bp	16.1 bp −$16	57.8 bp −$578	doesn't fit	doesn't fit
Sell Aster live order book, 5 min ago	3.03 bp	9.0 bp −$9	17.8 bp −$178	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
Orderly PERP_LIT_USDC	−0.0382%	4h	4.7692	−0.291%	$33K	$1K	10x	as long as short
Coinbase International LIT-PERP-INTX	−0.0344%	1h	4.7780	−0.107%	$605K	$347K	50x	as long as short
01 Exchange LITUSD	−0.0312%	1h	4.7671	−0.335%	$31K	$3K	5x	as long as short
Deribit LIT_USDC-PERPETUAL	−0.0221%	1h	4.7726	−0.219%	$42K	$40K	10x	as long as short
Bullet LIT-USD	−0.0221%	1h	4.7689	−0.296%	$85K	$66K	20x	as long as short
OKX LIT-USDT-SWAP	−0.0165%	4h	4.7728	−0.215%	$25.6M	$59.3M	50x	as long as short
GRVT LIT_USDT_Perp	−0.0102%	4h	4.7808	−0.049%	$886K	$2.0M	10x	as long as short
ApeX Omni LITUSDT	−0.0057%	1h	4.7820	−0.023%	$57K	$73K	50x	as long as short
dYdX LIT-USD	0.0000%	1h	4.7700	−0.273%	$34K	—	5x	as long as short
gTrade (Gains Network) LIT/USD	L +0.0003% / S −0.0002%	1h	4.7692	−0.290%	$11K	—	150x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit LITUSDT	+0.0025%	4h	4.7700	−0.274%	$41.4M	$28.1M	75x	as long as short
Injective LIT/USDC PERP	+0.0033%	1h	4.8040	+0.437%	$422	$178K	5.5x	as long as short
Phoenix LITlong	+0.0050%	1h	4.7831	long leg	$205K	$293K	5x
RISEx LIT/USDC	+0.0064%	1h	4.7711	−0.250%	$794K	$2.3M	5x	as long as short
Paradex LIT-USD-PERP	+0.0092%	8h	4.7643	−0.393%	$7K	$2K	5x	as long as short
Lighter LIT	+0.0096%	1h	4.7711	−0.251%	$59.4M	$26.7M	5x	as long as short
Nado LIT-PERP	+0.0100%	1h	4.7695	−0.284%	$2.2M	$1.6M	10x	as long as short
Pacifica LIT	+0.0100%	1h	4.7688	−0.299%	$815K	$1.8M	10x	as long as short
Binance LITUSDT	+0.0100%	4h	4.7695	−0.284%	$76.4M	$74.0M	75x	as long as short
Arcus LIT-USD	+0.0100%	1h	4.7694	−0.286%	$124K	$443K	5x	as long as short
Bulk LIT-USD	+0.0100%	1h	4.7812	−0.040%	$119K	$6K	10x	as long as short
Gate LIT_USDT	+0.0100%	4h	4.7710	−0.253%	$2.8M	$4.2M	50x	as long as short
MEXC LIT_USDT	+0.0100%	4h	4.7676	−0.324%	$5.9M	$3.9M	100x	as long as short
KuCoin LITUSDTM	+0.0100%	4h	4.7687	−0.301%	$5.4M	$942K	30x	as long as short
Bitget LITUSDT	+0.0100%	4h	4.7710	−0.253%	$6.8M	$2.5M	20x	as long as short
Backpack LIT_USDC_PERP	+0.0100%	1h	4.7645	−0.389%	$679K	$1.0M	5x	as long as short
edgeX LITUSDC	+0.0100%	4h	4.7812	−0.039%	$292K	$302K	10x	as long as short
Polymarket Perps LIT-USD	+0.0100%	1h	4.7700	−0.274%	$444K	$86K	10x	as long as short
Derive LIT-PERP	+0.0100%	1h	4.7746	−0.178%	$2K	$961	6.7x	as long as short
SunX LIT-USDT	+0.0100%	4h	4.7655	−0.368%	$4K	$1.1M	20x	as long as short
SoDEX LIT-USD	+0.0100%	1h	4.7723	−0.226%	$1K	$332K	5x	as long as short
HTX LIT-USDT	+0.0100%	4h	4.7694	−0.286%	$192K	$311K	30x	as long as short
Phemex LITUSDT	+0.0100%	4h	4.7620	−0.441%	$1.4M	$2.7M	20x	as long as short
Extended LIT-USD	+0.0104%	1h	4.7703	−0.267%	$5.1M	$5.1M	25x	as long as short
Aevo LIT-PERP	+0.0104%	1h	4.7694	−0.287%	$149K	—	3x	as long as short
Aster LITUSDTshort	+0.0225%	4h	4.7753	−0.163%	$12.8M	$2.0M	50x
Hyperliquid LIT	+0.0233%	1h	4.7783	−0.100%	$215.8M	$38.7M	5x	as long as short
Lighter RH LIT	+0.0240%	1h	4.7747	−0.176%	$3.7M	$12.8M	5x	as long as short
Aftermath Perps LITUSD	+0.0331%	1h	4.7749	−0.171%	$9K	$204K	10x	as long as short
BloFin LIT-USDT	+0.0340%	4h	4.7614	−0.454%	$1.6M	$2.3M	75x	as long as short
GMX LIT/USD [ETH-USDC]	L +0.0425% / S −0.0217%	1h	4.7684	−0.308%	$64K	—	50x	as long as short
Perpl LIT	+0.0447%	43m	4.7694	−0.286%	$32K	$649K	33x	as long as short