Funding arb · Price arb /

LIT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0764%/8h= −83.6% APRpaid last 24h −0.001%

Price spread now: Gate against Phoenix−0.097%77s7-day average −0.113% · you buy dearer than you sell

Net, funding: paid 7d − costs−$80as 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−$690.687% of the position

Long on Phoenix Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.111%−$11 on $10k

Price spread, last 3 days (all we have)−0.576%−$58 · spread now −0.097%, 7d avg −0.113%

Together, before fees−0.687%−$69 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.113%, so right now this pair is about funding alone: −$23 a day on $10k at the current rate. The two prices were read 77 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.111% in total (about -5.8% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix LIT	4.7376	−0.0050	get 0.0006% / 1h	12m 09s	$205K	$353K	5x
Short	Gate LIT_USDT	4.7330	−0.0814	pay 0.0407% / 4h	12m 09s	$2.8M	$4.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.097%Rate

Funding earned: −$160.36
Price spread: −0.097% → −0.113%: $1.56
Slippage, 4 orders: −$46.74
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$227.54
Costs to cover: 0.687%
Break-even: never at this rate

Slippage from Phoenix: live order book, 64 min ago; Gate: live order book, 1 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, 64 min ago	1.91 bp	16.1 bp −$16	57.8 bp −$578	doesn't fit	doesn't fit
Sell Gate live order book, 1 min ago	2.12 bp	21.3 bp −$21	54.1 bp −$541	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
Gate LIT_USDTshort	−0.0814%	4h	4.7330	−0.097%	$2.8M	$4.6M	50x
Deribit LIT_USDC-PERPETUAL	−0.0665%	1h	4.7294	−0.172%	$41K	$40K	10x	as long as short
Orderly PERP_LIT_USDC	−0.0544%	4h	4.7230	−0.308%	$32K	$2K	10x	as long as short
01 Exchange LITUSD	−0.0536%	1h	4.7171	−0.433%	$33K	$4K	5x	as long as short
OKX LIT-USDT-SWAP	−0.0347%	4h	4.7281	−0.201%	$25.7M	$63.9M	50x	as long as short
Bullet LIT-USD	−0.0345%	1h	4.7249	−0.268%	$84K	$78K	20x	as long as short
Phemex LITUSDT	−0.0303%	4h	4.7260	−0.245%	$1.4M	$2.7M	20x	as long as short
KuCoin LITUSDTM	−0.0176%	4h	4.7272	−0.220%	$5.2M	$1.1M	30x	as long as short
Coinbase International LIT-PERP-INTX	−0.0120%	1h	4.7608	+0.490%	$673K	$402K	50x	as long as short
GRVT LIT_USDT_Perp	−0.0070%	4h	4.7155	−0.466%	$894K	$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	4.7376	long leg	$205K	$353K	5x
Perpl LIT	0.0000%	43m	4.7245	−0.278%	$32K	$851K	33x	as long as short
dYdX LIT-USD	0.0000%	1h	4.7253	−0.259%	$34K	—	5x	as long as short
gTrade (Gains Network) LIT/USD	L +0.0003% / S −0.0003%	1h	4.7325	−0.107%	$35K	—	150x	as long as short
RISEx LIT/USDC	+0.0012%	1h	4.7269	−0.226%	$817K	$2.1M	5x	as long as short
Paradex LIT-USD-PERP	+0.0030%	8h	4.7206	−0.359%	$7K	$2K	5x	as long as short
Injective LIT/USDC PERP	+0.0033%	1h	4.8040	+1.402%	$422	$178K	5.5x	as long as short
Bybit LITUSDT	+0.0034%	4h	4.7280	−0.203%	$42.6M	$30.2M	75x	as long as short
Lighter LIT	+0.0096%	1h	4.7330	−0.097%	$59.2M	$30.6M	5x	as long as short
Nado LIT-PERP	+0.0100%	1h	4.7235	−0.298%	$2.2M	$1.7M	10x	as long as short
Aster LITUSDT	+0.0100%	4h	4.7328	−0.101%	$12.6M	$2.4M	50x	as long as short
Pacifica LIT	+0.0100%	1h	4.7231	−0.306%	$587K	$1.7M	10x	as long as short
Binance LITUSDT	+0.0100%	4h	4.7251	−0.264%	$75.3M	$82.0M	75x	as long as short
Arcus LIT-USD	+0.0100%	1h	4.7254	−0.258%	$120K	$456K	5x	as long as short
Bulk LIT-USD	+0.0100%	1h	4.7316	−0.127%	$118K	$2K	10x	as long as short
MEXC LIT_USDT	+0.0100%	4h	4.7277	−0.209%	$5.7M	$4.1M	100x	as long as short
Bitget LITUSDT	+0.0100%	4h	4.7300	−0.160%	$6.7M	$2.8M	20x	as long as short
Backpack LIT_USDC_PERP	+0.0100%	1h	4.7316	−0.127%	$681K	$1.4M	5x	as long as short
edgeX LITUSDC	+0.0100%	4h	4.7203	−0.366%	$287K	$312K	10x	as long as short
ApeX Omni LITUSDT	+0.0100%	1h	4.7220	−0.329%	$55K	$77K	50x	as long as short
Polymarket Perps LIT-USD	+0.0100%	1h	4.7246	−0.274%	$446K	$105K	10x	as long as short
Derive LIT-PERP	+0.0100%	1h	4.7330	−0.097%	$2K	—	6.7x	as long as short
SunX LIT-USDT	+0.0100%	4h	4.7219	−0.331%	$4K	$1.2M	20x	as long as short
SoDEX LIT-USD	+0.0100%	1h	4.7289	−0.184%	$981	$471K	5x	as long as short
HTX LIT-USDT	+0.0100%	4h	4.7251	−0.264%	$189K	$346K	30x	as long as short
Extended LIT-USD	+0.0104%	1h	4.7276	−0.211%	$5.2M	$5.2M	25x	as long as short
Aevo LIT-PERP	+0.0104%	1h	4.7252	−0.261%	$148K	$44K	3x	as long as short
Aftermath Perps LITUSD	+0.0186%	1h	4.7314	−0.130%	$13K	$203K	10x	as long as short
Hyperliquid LIT	+0.0198%	1h	4.7361	−0.032%	$212.4M	$45.0M	5x	as long as short
Lighter RH LIT	+0.0200%	1h	4.7357	−0.040%	$3.7M	$14.0M	5x	as long as short
BloFin LIT-USDT	+0.0340%	4h	4.7213	−0.344%	$1.6M	$2.1M	75x	as long as short
GMX LIT/USD [ETH-USDC]	L +0.0377% / S −0.0169%	1h	4.7321	−0.116%	$62K	—	50x	as long as short