Funding you earn now, next payment 07:00 UTC−0.0071%/8h= −7.8% APRnext payment −$0.09 per $10,000 · paid last 24h −0.003%
Price spread now: Backpack against Polymarket Perps+0.061%7-day average +0.014% · you sell dearer than you buy
Net, funding: paid 7d − costs−$10as in the Funding arb table
Net, price: spread back to 7d avg − costs−$30as in the Price arb table
costs, in and out, $10k−$340.344% of the position
Funding, last 7 days+0.240%+$24 on $10k
+Price spread, last 4 days (all we have)−0.696%−$70 · spread now +0.061%, 7d avg +0.014%
=The price spread pays, funding is against you. Backpack is 0.046% dearer against Polymarket Perps than usual: you sell high and buy low (spread +0.061% now, against its 7-day average of +0.014%): +$5 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 2.2 days. Mind the row above: over the last 7 days funding on this pair paid +0.240%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Polymarket Perps LIT-USD | 4.7872 | 0.0100 | pay 0.0013% / 1h | 9m 03s | $449K | $83K | 10x |
| Short | Backpack LIT_USDC_PERP | 4.7901 | 0.0029 | get 0.0004% / 1h | 9m 03s | $676K | $942K | 5x |
Polymarket Perps LIT-USD
Backpack LIT_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Polymarket Perps. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$14.89
- Price spread: +0.061% → +0.014%
- $4.62
- Slippage, 4 orders
- −$16.41
- Fee Polymarket Perps: 4 bp × 2 orders
- −$8
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$44.68
- Costs to cover
- 0.344%
- Break-even
- never at this rate
Slippage from Polymarket Perps: live order book, 33 min ago; Backpack: 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 Polymarket Perps live order book, 33 min ago | 4.20 bp | 11.7 bp −$12 | 15.5 bp −$155 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 5 min ago | 0.10 bp | 5.8 bp −$6 | 14.2 bp −$142 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Coinbase International LIT-PERP-INTX | −0.0440% | 1h | 4.7780 | −0.193% | $605K | $352K | 50x | as long as short |
| Orderly PERP_LIT_USDC | −0.0367% | 4h | 4.7840 | −0.067% | $33K | $1K | 10x | as long as short |
| 01 Exchange LITUSD | −0.0272% | 1h | 4.7781 | −0.190% | $31K | $3K | 5x | as long as short |
| Bullet LIT-USD | −0.0191% | 1h | 4.7857 | −0.032% | $86K | $66K | 20x | as long as short |
| OKX LIT-USDT-SWAP | −0.0128% | 4h | 4.7850 | −0.046% | $25.7M | $60.7M | 50x | as long as short |
| GRVT LIT_USDT_Perp | −0.0066% | 4h | 4.7881 | +0.019% | $887K | $2.0M | 10x | as long as short |
| Deribit LIT_USDC-PERPETUAL | −0.0063% | 1h | 4.7903 | +0.064% | $42K | $40K | 10x | as long as short |
| dYdX LIT-USD | 0.0000% | 1h | 4.7841 | −0.065% | $34K | — | 5x | as long as short |
| gTrade (Gains Network) LIT/USD | L +0.0003% / S −0.0002% | 1h | 4.7859 | −0.027% | $11K | — | 150x | as long as short |
| Backpack LIT_USDC_PERPshort | +0.0029% | 1h | 4.7901 | +0.061% | $676K | $942K | 5x |
Coinbase International LIT-PERP-INTX
Orderly PERP_LIT_USDC
01 Exchange LITUSD
Bullet LIT-USD
OKX LIT-USDT-SWAP
GRVT LIT_USDT_Perp
Deribit LIT_USDC-PERPETUAL
dYdX LIT-USD
gTrade (Gains Network) LIT/USDShow all 41 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phoenix LIT | +0.0033% | 1h | 4.7934 | +0.130% | $206K | $301K | 5x | as long as short |
| Injective LIT/USDC PERP | +0.0033% | 1h | 4.8040 | +0.351% | $422 | $178K | 5.5x | as long as short |
| Bybit LITUSDT | +0.0072% | 4h | 4.7860 | −0.025% | $41.5M | $28.1M | 75x | as long as short |
| Phemex LITUSDT | +0.0092% | 4h | 4.7860 | −0.025% | $1.4M | $2.8M | 20x | as long as short |
| Paradex LIT-USD-PERP | +0.0093% | 8h | 4.7814 | −0.122% | $7K | $2K | 5x | as long as short |
| Lighter LIT | +0.0096% | 1h | 4.7954 | +0.171% | $59.6M | $27.5M | 5x | as long as short |
| Nado LIT-PERP | +0.0100% | 1h | 4.7810 | −0.130% | $2.1M | $1.6M | 10x | as long as short |
| Pacifica LIT | +0.0100% | 1h | 4.7864 | −0.018% | $769K | $1.8M | 10x | as long as short |
| Binance LITUSDT | +0.0100% | 4h | 4.7864 | −0.018% | $76.6M | $75.7M | 75x | as long as short |
| Arcus LIT-USD | +0.0100% | 1h | 4.7847 | −0.052% | $124K | $445K | 5x | as long as short |
| Gate LIT_USDT | +0.0100% | 4h | 4.7910 | +0.079% | $2.8M | $4.2M | 50x | as long as short |
| MEXC LIT_USDT | +0.0100% | 4h | 4.7875 | +0.006% | $5.9M | $4.0M | 100x | as long as short |
| KuCoin LITUSDTM | +0.0100% | 4h | 4.7904 | +0.067% | $5.5M | $1.0M | 30x | as long as short |
| Bitget LITUSDT | +0.0100% | 4h | 4.7890 | +0.038% | $6.8M | $2.5M | 20x | as long as short |
| edgeX LITUSDC | +0.0100% | 4h | 4.7930 | +0.121% | $293K | $302K | 10x | as long as short |
| ApeX Omni LITUSDT | +0.0100% | 1h | 4.7860 | −0.025% | $57K | $73K | 50x | as long as short |
| Polymarket Perps LIT-USDlong | +0.0100% | 1h | 4.7872 | long leg | $449K | $83K | 10x | |
| SunX LIT-USDT | +0.0100% | 4h | 4.7897 | +0.052% | $4K | $1.1M | 20x | as long as short |
| SoDEX LIT-USD | +0.0100% | 1h | 4.7897 | +0.052% | $1K | $335K | 5x | as long as short |
| HTX LIT-USDT | +0.0100% | 4h | 4.7938 | +0.138% | $200K | $307K | 30x | as long as short |
| Bulk LIT-USD | +0.0100% | 1h | 4.7895 | +0.048% | $119K | $7K | 10x | as long as short |
| Extended LIT-USD | +0.0104% | 1h | 4.7882 | +0.020% | $5.1M | $5.2M | 25x | as long as short |
| Aevo LIT-PERP | +0.0104% | 1h | 4.7876 | +0.008% | $150K | — | 3x | as long as short |
| RISEx LIT/USDC | +0.0148% | 1h | 4.7863 | −0.020% | $810K | $2.3M | 5x | as long as short |
| Aster LITUSDT | +0.0201% | 4h | 4.7919 | +0.098% | $12.8M | $1.9M | 50x | as long as short |
| Hyperliquid LIT | +0.0267% | 1h | 4.7971 | +0.207% | $216.4M | $39.0M | 5x | as long as short |
| BloFin LIT-USDT | +0.0340% | 4h | 4.7875 | +0.006% | $1.6M | $2.3M | 75x | as long as short |
| Lighter RH LIT | +0.0360% | 1h | 4.7973 | +0.211% | $3.7M | $13.3M | 5x | as long as short |
| Aftermath Perps LITUSD | +0.0375% | 1h | 4.7920 | +0.101% | $9K | $205K | 10x | as long as short |
| GMX LIT/USD [ETH-USDC] | L +0.0424% / S −0.0217% | 1h | 4.7844 | −0.059% | $64K | — | 50x | as long as short |
| Perpl LIT | +0.0447% | 43m | 4.7918 | +0.096% | $32K | $667K | 33x | as long as short |
Phoenix LIT
Injective LIT/USDC PERP
Bybit LITUSDT
Phemex LITUSDT
Paradex LIT-USD-PERP
Lighter LIT
Nado LIT-PERP
Pacifica LIT
Binance LITUSDT
Arcus LIT-USD
Gate LIT_USDT
MEXC LIT_USDT
KuCoin LITUSDTM
Bitget LITUSDT
edgeX LITUSDC
ApeX Omni LITUSDT
SunX LIT-USDT
SoDEX LIT-USD
HTX LIT-USDT
Bulk LIT-USD
Extended LIT-USD
Aevo LIT-PERP
RISEx LIT/USDC
Aster LITUSDT
Hyperliquid LIT
BloFin LIT-USDT
Lighter RH LIT
Aftermath Perps LITUSD
GMX LIT/USD [ETH-USDC]
Perpl LIT