Funding arb · Price arb /

LIT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0087%/8h= +9.5% APRpaid last 24h −0.039%

Price spread now: Bybit against Phoenix+0.116%7-day average −0.152% · you sell dearer than you buy

Net, funding: paid 7d − costs−$75as in the Funding arb table

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$610.609% of the position

Long on Phoenix Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.141%−$14 on $10k

Price spread, last 3 days (all we have)−0.873%−$87 · spread now +0.116%, 7d avg −0.152%

Together, before fees−1.014%−$101 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Bybit is 0.269% dearer against Phoenix than usual: you sell high and buy low: +$27 more if the spread goes back to its 7-day average of −0.152%. Mind the row above: over the last 7 days funding on this pair cost −0.141%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix LIT	4.7285	−0.0050	get 0.0006% / 1h	11m 01s	$205K	$353K	5x
Short	Bybit LITUSDT	4.7340	0.0036	get 0.0018% / 4h	11m 01s	$42.6M	$30.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.116%Rate

Funding earned: $18.21
Price spread: +0.116% → −0.152%: $26.87
Slippage, 4 orders: −$42.91
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$15.83
Costs to cover: 0.609%
Break-even: 13.1 days

Slippage from Phoenix: live order book, 65 min ago; Bybit: live order book, 3 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, 65 min ago	1.91 bp	16.1 bp −$16	57.8 bp −$578	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	1.06 bp	20.2 bp −$20	61.2 bp −$612	460.8 bp −$46.1K	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	−0.0820%	4h	4.7270	−0.032%	$2.8M	$4.6M	50x	as long as short
Deribit LIT_USDC-PERPETUAL	−0.0805%	1h	4.7245	−0.084%	$41K	$40K	10x	as long as short
Orderly PERP_LIT_USDC	−0.0544%	4h	4.7199	−0.182%	$32K	$2K	10x	as long as short
01 Exchange LITUSD	−0.0536%	1h	4.7136	−0.315%	$33K	$4K	5x	as long as short
Bullet LIT-USD	−0.0347%	1h	4.7245	−0.084%	$84K	$78K	20x	as long as short
OKX LIT-USDT-SWAP	−0.0342%	4h	4.7344	+0.125%	$25.6M	$64.0M	50x	as long as short
Phemex LITUSDT	−0.0305%	4h	4.7230	−0.116%	$1.4M	$2.7M	20x	as long as short
KuCoin LITUSDTM	−0.0176%	4h	4.7265	−0.042%	$5.2M	$1.1M	30x	as long as short
Coinbase International LIT-PERP-INTX	−0.0120%	1h	4.7608	+0.684%	$673K	$402K	50x	as long as short
GRVT LIT_USDT_Perp	−0.0068%	4h	4.7229	−0.118%	$905K	$1.8M	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix LITlong	−0.0050%	1h	4.7285	long leg	$205K	$353K	5x
Perpl LIT	0.0000%	43m	4.7241	−0.092%	$32K	$852K	33x	as long as short
dYdX LIT-USD	0.0000%	1h	4.7281	−0.007%	$34K	—	5x	as long as short
gTrade (Gains Network) LIT/USD	L +0.0003% / S −0.0003%	1h	4.7293	+0.017%	$35K	—	150x	as long as short
RISEx LIT/USDC	+0.0012%	1h	4.7249	−0.076%	$817K	$2.1M	5x	as long as short
Paradex LIT-USD-PERP	+0.0031%	8h	4.7212	−0.155%	$7K	$2K	5x	as long as short
Injective LIT/USDC PERP	+0.0033%	1h	4.8040	+1.597%	$422	$178K	5.5x	as long as short
Bybit LITUSDTshort	+0.0036%	4h	4.7340	+0.116%	$42.6M	$30.2M	75x
Lighter LIT	+0.0096%	1h	4.7297	+0.025%	$59.1M	$30.6M	5x	as long as short
Nado LIT-PERP	+0.0100%	1h	4.7245	−0.085%	$2.2M	$1.7M	10x	as long as short
Aster LITUSDT	+0.0100%	4h	4.7336	+0.107%	$12.6M	$2.4M	50x	as long as short
Pacifica LIT	+0.0100%	1h	4.7264	−0.044%	$588K	$1.7M	10x	as long as short
Binance LITUSDT	+0.0100%	4h	4.7268	−0.036%	$75.3M	$82.0M	75x	as long as short
Arcus LIT-USD	+0.0100%	1h	4.7231	−0.114%	$120K	$459K	5x	as long as short
Bulk LIT-USD	+0.0100%	1h	4.7316	+0.066%	$118K	$2K	10x	as long as short
MEXC LIT_USDT	+0.0100%	4h	4.7328	+0.091%	$5.7M	$4.1M	100x	as long as short
Bitget LITUSDT	+0.0100%	4h	4.7350	+0.137%	$6.7M	$2.8M	20x	as long as short
Backpack LIT_USDC_PERP	+0.0100%	1h	4.7294	+0.019%	$681K	$1.4M	5x	as long as short
edgeX LITUSDC	+0.0100%	4h	4.7244	−0.086%	$287K	$309K	10x	as long as short
ApeX Omni LITUSDT	+0.0100%	1h	4.7240	−0.095%	$55K	$77K	50x	as long as short
Polymarket Perps LIT-USD	+0.0100%	1h	4.7261	−0.051%	$447K	$105K	10x	as long as short
Derive LIT-PERP	+0.0100%	1h	4.7276	−0.018%	$2K	—	6.7x	as long as short
SunX LIT-USDT	+0.0100%	4h	4.7221	−0.135%	$4K	$1.2M	20x	as long as short
SoDEX LIT-USD	+0.0100%	1h	4.7251	−0.072%	$989	$471K	5x	as long as short
HTX LIT-USDT	+0.0100%	4h	4.7251	−0.072%	$189K	$346K	30x	as long as short
Extended LIT-USD	+0.0104%	1h	4.7336	+0.108%	$5.2M	$5.2M	25x	as long as short
Aevo LIT-PERP	+0.0104%	1h	4.7226	−0.125%	$148K	$44K	3x	as long as short
Aftermath Perps LITUSD	+0.0188%	1h	4.7297	+0.025%	$13K	$203K	10x	as long as short
Lighter RH LIT	+0.0192%	1h	4.7322	+0.078%	$3.7M	$14.0M	5x	as long as short
Hyperliquid LIT	+0.0199%	1h	4.7347	+0.131%	$212.3M	$45.0M	5x	as long as short
BloFin LIT-USDT	+0.0340%	4h	4.7232	−0.112%	$1.6M	$2.1M	75x	as long as short
GMX LIT/USD [ETH-USDC]	L +0.0377% / S −0.0169%	1h	4.7276	−0.018%	$62K	—	50x	as long as short