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: Phemex against Phoenix+0.251%47s7-day average −0.139% · you sell dearer than you buy

Net, funding: paid 7d − costs−$129as 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 Phoenix Short on Phemex

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)−0.414%−$41 · spread now +0.251%, 7d avg −0.139%

Together, before fees−0.631%−$63 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Phemex is 0.390% dearer against Phoenix than usual: you sell high and buy low: +$39 more if the spread goes back to its 7-day average of −0.139%. Mind the row above: over the last 7 days funding on this pair cost −0.217%, so the current rate has only just turned in your favour. The two prices were read 47 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	4.7072	−0.0102	get 0.0013% / 1h	29m 21s	$203K	$352K	5x
Short	Phemex LITUSDT	4.7190	−0.0042	pay 0.0021% / 4h	2h 29m	$1.4M	$2.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.251%Rate

Funding earned: $12.59
Price spread: +0.251% → −0.139%: $38.96
Slippage, 4 orders: −$88.57
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$56.03
Costs to cover: 1.076%
Break-even: 38.2 days

Slippage from Phoenix: live order book, 37 min ago; Phemex: live order book, 4 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, 37 min ago	2.10 bp	16.0 bp −$16	57.9 bp −$579	doesn't fit	doesn't fit
Sell Phemex live order book, 4 min ago	8.51 bp	37.7 bp −$38	doesn't fit	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	4.7068	−0.008%	$33K	$4K	5x	as long as short
Orderly PERP_LIT_USDC	−0.0466%	4h	4.7068	−0.008%	$32K	$2K	10x	as long as short
Deribit LIT_USDC-PERPETUAL	−0.0459%	1h	4.7222	+0.320%	$41K	$40K	10x	as long as short
Bullet LIT-USD	−0.0452%	1h	4.7130	+0.123%	$85K	$73K	20x	as long as short
ApeX Omni LITUSDT	−0.0193%	1h	4.7040	−0.068%	$56K	$77K	50x	as long as short
Gate LIT_USDT	−0.0190%	4h	4.7150	+0.166%	$2.8M	$4.3M	50x	as long as short
OKX LIT-USDT-SWAP	−0.0153%	4h	4.7145	+0.155%	$25.6M	$63.7M	50x	as long as short
GRVT LIT_USDT_Perp	−0.0152%	4h	4.7010	−0.132%	$904K	$1.8M	10x	as long as short
KuCoin LITUSDTM	−0.0142%	4h	4.7186	+0.242%	$5.3M	$1.1M	30x	as long as short
Phoenix LITlong	−0.0102%	1h	4.7072	long leg	$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	+0.291%	$668K	$372K	50x	as long as short
Phemex LITUSDTshort	−0.0042%	4h	4.7190	+0.251%	$1.4M	$2.7M	20x
Backpack LIT_USDC_PERP	−0.0042%	1h	4.7260	+0.399%	$682K	$1.4M	5x	as long as short
dYdX LIT-USD	0.0000%	1h	4.7282	+0.446%	$34K	—	5x	as long as short
gTrade (Gains Network) LIT/USD	L +0.0003% / S 0.0000%	1h	4.7168	+0.204%	$472	—	150x	as long as short
Bulk LIT-USD	+0.0030%	1h	4.6912	−0.341%	$117K	$1K	10x	as long as short
Injective LIT/USDC PERP	+0.0033%	1h	4.8040	+2.056%	$422	$178K	5.5x	as long as short
Paradex LIT-USD-PERP	+0.0033%	8h	4.7147	+0.160%	$7K	$2K	5x	as long as short
Bybit LITUSDT	+0.0062%	4h	4.7122	+0.106%	$42.2M	$29.2M	75x	as long as short
SoDEX LIT-USD	+0.0066%	1h	4.7220	+0.314%	$1K	$450K	5x	as long as short
RISEx LIT/USDC	+0.0081%	1h	4.7172	+0.213%	$786K	$2.0M	5x	as long as short
Lighter LIT	+0.0096%	1h	4.7233	+0.342%	$59.2M	$29.5M	5x	as long as short
Lighter RH LIT	+0.0096%	1h	4.7261	+0.402%	$3.7M	$13.3M	5x	as long as short
Nado LIT-PERP	+0.0100%	1h	4.7165	+0.198%	$2.2M	$1.7M	10x	as long as short
Hyperliquid LIT	+0.0100%	1h	4.7199	+0.270%	$211.2M	$43.9M	5x	as long as short
Aster LITUSDT	+0.0100%	4h	4.7214	+0.301%	$12.6M	$2.1M	50x	as long as short
Pacifica LIT	+0.0100%	1h	4.7183	+0.236%	$585K	$1.6M	10x	as long as short
Binance LITUSDT	+0.0100%	4h	4.7102	+0.065%	$75.1M	$80.5M	75x	as long as short
Arcus LIT-USD	+0.0100%	1h	4.7140	+0.144%	$117K	$448K	5x	as long as short
MEXC LIT_USDT	+0.0100%	4h	4.7121	+0.104%	$5.5M	$4.1M	100x	as long as short
Bitget LITUSDT	+0.0100%	4h	4.7210	+0.293%	$6.7M	$2.7M	20x	as long as short
edgeX LITUSDC	+0.0100%	4h	4.7048	−0.051%	$286K	$306K	10x	as long as short
Polymarket Perps LIT-USD	+0.0100%	1h	4.7142	+0.149%	$446K	$104K	10x	as long as short
Derive LIT-PERP	+0.0100%	1h	4.7258	+0.395%	$2K	—	6.7x	as long as short
SunX LIT-USDT	+0.0100%	4h	4.7248	+0.374%	$5K	$1.2M	20x	as long as short
HTX LIT-USDT	+0.0100%	4h	4.7128	+0.119%	$189K	$354K	30x	as long as short
Extended LIT-USD	+0.0104%	1h	4.7127	+0.117%	$5.2M	$5.1M	25x	as long as short
Aevo LIT-PERP	+0.0104%	1h	4.7195	+0.261%	$148K	—	3x	as long as short
Aftermath Perps LITUSD	+0.0274%	1h	4.7087	+0.032%	$9K	$211K	10x	as long as short
GMX LIT/USD [ETH-USDC]	L +0.0406% / S −0.0199%	1h	4.7176	+0.222%	$64K	—	50x	as long as short
Perpl LIT	+0.0447%	43m	4.7173	+0.215%	$31K	$860K	33x	as long as short