Funding arb · Price arb /

LIT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0064%/8h= −7.0% APRpaid last 24h −0.008%

Price spread now: GRVT against Phoenix+0.103%7-day average −0.198% · you sell dearer than you buy

Net, funding: paid 7d − costs−$107as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$620.616% of the position

Long on Phoenix Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.451%−$45 on $10k

Price spread, last 3 days (all we have)−0.842%−$84 · spread now +0.103%, 7d avg −0.198%

Together, before fees−1.292%+ Points / potential airdropGRVT: Active · farm board−$129 on $10k · with fees, hour by hour

The price spread pays, funding is against you. GRVT is 0.302% dearer against Phoenix than usual: you sell high and buy low (spread +0.103% now, against its 7-day average of −0.198%): +$30 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 16 days. At the pace of the last 7 days (−0.451% in total) that is about 4.7 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix LIT	4.7501	−0.0050	get 0.0006% / 1h	32m 25s	$206K	$353K	5x
Short	GRVT LIT_USDT_Perp	4.7550	−0.0114	pay 0.0057% / 4h	32m 25s	$904K	$1.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.103%Rate

Funding earned: −$13.36
Price spread: +0.103% → −0.198%: $30.16
Slippage, 4 orders: −$45.57
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$44.76
Costs to cover: 0.616%
Break-even: never at this rate

Slippage from Phoenix: live order book, 43 min ago; GRVT: 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, 43 min ago	1.91 bp	16.1 bp −$16	57.8 bp −$578	doesn't fit	doesn't fit
Sell GRVT live order book, 1 min ago	1.05 bp	13.2 bp −$13	37.8 bp −$378	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_USDT	−0.0892%	4h	4.7450	−0.107%	$2.8M	$4.5M	50x	as long as short
Deribit LIT_USDC-PERPETUAL	−0.0851%	1h	4.7365	−0.287%	$42K	$40K	10x	as long as short
Orderly PERP_LIT_USDC	−0.0592%	4h	4.7402	−0.208%	$32K	$2K	10x	as long as short
01 Exchange LITUSD	−0.0560%	1h	4.7396	−0.221%	$33K	$4K	5x	as long as short
OKX LIT-USDT-SWAP	−0.0422%	4h	4.7472	−0.061%	$25.7M	$63.8M	50x	as long as short
Phemex LITUSDT	−0.0377%	4h	4.7360	−0.297%	$1.4M	$2.7M	20x	as long as short
Bullet LIT-USD	−0.0337%	1h	4.7445	−0.118%	$85K	$81K	20x	as long as short
KuCoin LITUSDTM	−0.0216%	4h	4.7480	−0.044%	$5.2M	$1.1M	30x	as long as short
Coinbase International LIT-PERP-INTX	−0.0120%	1h	4.7608	+0.226%	$673K	$402K	50x	as long as short
GRVT LIT_USDT_Perpshort	−0.0114%	4h	4.7550	+0.103%	$904K	$1.8M	10x

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit LITUSDT	−0.0067%	4h	4.7460	−0.086%	$42.8M	$30.0M	75x	as long as short
Phoenix LITlong	−0.0050%	1h	4.7501	long leg	$206K	$353K	5x
dYdX LIT-USD	0.0000%	1h	4.7494	−0.015%	$34K	—	5x	as long as short
Perpl LIT	0.0000%	43m	4.7455	−0.097%	$31K	$840K	33x	as long as short
gTrade (Gains Network) LIT/USD	L +0.0003% / S −0.0003%	1h	4.7508	+0.015%	$35K	—	150x	as long as short
RISEx LIT/USDC	+0.0012%	1h	4.7496	−0.011%	$817K	$2.1M	5x	as long as short
Paradex LIT-USD-PERP	+0.0019%	8h	4.7440	−0.128%	$7K	$2K	5x	as long as short
Injective LIT/USDC PERP	+0.0033%	1h	4.8040	+1.135%	$422	$178K	5.5x	as long as short
edgeX LITUSDC	+0.0079%	4h	4.7460	−0.086%	$289K	$310K	10x	as long as short
MEXC LIT_USDT	+0.0082%	4h	4.7414	−0.183%	$5.6M	$4.1M	100x	as long as short
Binance LITUSDT	+0.0084%	4h	4.7438	−0.133%	$75.6M	$81.4M	75x	as long as short
Aevo LIT-PERP	+0.0088%	1h	4.7419	−0.173%	$148K	$44K	3x	as long as short
Lighter LIT	+0.0096%	1h	4.7536	+0.074%	$59.8M	$29.9M	5x	as long as short
Nado LIT-PERP	+0.0100%	1h	4.7455	−0.097%	$2.2M	$1.7M	10x	as long as short
Aster LITUSDT	+0.0100%	4h	4.7476	−0.053%	$12.7M	$2.4M	50x	as long as short
Pacifica LIT	+0.0100%	1h	4.7493	−0.017%	$591K	$1.7M	10x	as long as short
Arcus LIT-USD	+0.0100%	1h	4.7461	−0.084%	$120K	$456K	5x	as long as short
Bulk LIT-USD	+0.0100%	1h	4.7635	+0.283%	$119K	$6K	10x	as long as short
Bitget LITUSDT	+0.0100%	4h	4.7470	−0.065%	$6.7M	$2.8M	20x	as long as short
Backpack LIT_USDC_PERP	+0.0100%	1h	4.7454	−0.099%	$674K	$1.4M	5x	as long as short
ApeX Omni LITUSDT	+0.0100%	1h	4.7490	−0.023%	$56K	$77K	50x	as long as short
Polymarket Perps LIT-USD	+0.0100%	1h	4.7446	−0.116%	$448K	$105K	10x	as long as short
Derive LIT-PERP	+0.0100%	1h	4.7486	−0.031%	$2K	$650	6.7x	as long as short
SunX LIT-USDT	+0.0100%	4h	4.7439	−0.131%	$4K	$1.2M	20x	as long as short
SoDEX LIT-USD	+0.0100%	1h	4.7380	−0.255%	$987	$466K	5x	as long as short
HTX LIT-USDT	+0.0100%	4h	4.7480	−0.044%	$190K	$329K	30x	as long as short
Extended LIT-USD	+0.0104%	1h	4.7447	−0.114%	$5.2M	$5.1M	25x	as long as short
Aftermath Perps LITUSD	+0.0133%	1h	4.7541	+0.084%	$13K	$203K	10x	as long as short
Lighter RH LIT	+0.0176%	1h	4.7549	+0.101%	$3.7M	$13.9M	5x	as long as short
Hyperliquid LIT	+0.0211%	1h	4.7521	+0.042%	$213.1M	$44.9M	5x	as long as short
BloFin LIT-USDT	+0.0323%	4h	4.7387	−0.240%	$1.6M	$2.0M	75x	as long as short
GMX LIT/USD [ETH-USDC]	L +0.0377% / S −0.0169%	1h	4.7501	−0.001%	$62K	—	50x	as long as short