Funding arb · Price arb /

LTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0023%/8h= +2.6% APRpaid last 24h −0.017%

Price spread now: Bybit against Backpack−0.077%7-day average −0.009% · you buy dearer than you sell

Net, funding: paid 7d − costs−$32as in the Funding arb table

Net, price: spread back to 7d avg − costs−$39as in the Price arb table

costs, in and out, $10k−$320.322% of the position

Long on Backpack Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.001%$0 on $10k

Price spread, last 4 days (all we have)+0.188%+$19 · spread now −0.077%, 7d avg −0.009%

Together, before fees+0.187%+$19 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bybit is 0.068% cheaper against Backpack than usual: you would sell low and buy high (spread −0.077% now, against its 7-day average of −0.009%). If the spread goes back, that is −$7 on $10k: about 9.7 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack LTC_USDC_PERP	62.438	0.0057	pay 0.0007% / 1h	19m 35s	$162K	$268K	10x
Short	Bybit LTCUSDT	62.390	0.0081	get 0.0081% / 8h	2h 19m	$79.0M	$59.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Backpack. 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 BackpackbpFee BybitbpOrdersPrice spread, now −0.077%Rate

Funding earned: $4.92
Price spread: −0.077% → −0.009%: −$6.83
Slippage, 4 orders: −$11.19
Fee Backpack: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$34.1
Costs to cover: 0.322%
Break-even: 55.5 days

Slippage from Backpack: live order book, 4 min ago; Bybit: 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 Backpack live order book, 4 min ago	0.08 bp	7.2 bp −$7	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	0.80 bp	8.6 bp −$9	16.6 bp −$166	57.1 bp −$5,714	doesn't fit

LTC on 37 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
Polymarket Perps LTC-USD	−0.0302%	1h	62.350	−0.141%	$79K	$371K	10x	as long as short
Variational Omni LTC	−0.0082%	8h	62.432	−0.010%	$3.6M	$4.0M	—	as long as short
GMX LTC/USD [ETH-USDC]	L −0.0029% / S +0.0259%	1h	62.470	+0.051%	$129K	—	200x	as long as short
Gate LTC_USDT	−0.0026%	8h	62.400	−0.061%	$12.8M	$20.9M	75x	as long as short
Kalshi KXLTCPERP	0.0000%	8h	62.497	+0.094%	$348K	$4.0M	4x	as long as short
Deribit LTC_USDC-PERPETUAL	0.0000%	1h	62.504	+0.106%	$699K	$1.0M	50x	as long as short
gTrade (Gains Network) LTC/USD	L +0.0002% / S −0.0003%	1h	62.483	+0.072%	$31K	—	150x	as long as short
Injective LTC/USDC PERP	+0.0033%	1h	58.730	−5.939%	$5K	$22K	12x	as long as short
Backpack LTC_USDC_PERPlong	+0.0057%	1h	62.438	long leg	$162K	$268K	10x
Bybit LTCUSDTshort	+0.0081%	8h	62.390	−0.077%	$79.0M	$59.7M	75x

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter LTC	+0.0096%	1h	62.469	+0.050%	$1.3M	$1.2M	10x	as long as short
Orderly PERP_LTC_USDC	+0.0099%	8h	62.450	+0.019%	$12K	$212K	20x	as long as short
Paradex LTC-USD-PERP	+0.0100%	8h	62.398	−0.063%	$16K	$10K	20x	as long as short
Nado LTC-PERP	+0.0100%	1h	62.395	−0.069%	$255K	$326K	10x	as long as short
Hyperliquid LTC	+0.0100%	1h	62.502	+0.103%	$38.4M	$23.1M	10x	as long as short
Aster LTCUSDT	+0.0100%	8h	62.509	+0.113%	$2.6M	$2.1M	75x	as long as short
Pacifica LTC	+0.0100%	1h	62.423	−0.024%	$546K	$84K	10x	as long as short
Binance LTCUSDT	+0.0100%	8h	62.402	−0.057%	$96.6M	$221.5M	75x	as long as short
OKX LTC-USDT-SWAP	+0.0100%	8h	62.400	−0.061%	$27.8M	$75.2M	50x	as long as short
MEXC LTC_USDT	+0.0100%	8h	62.410	−0.045%	$61.7M	$35.3M	200x	as long as short
KuCoin LTCUSDTM	+0.0100%	8h	62.440	+0.003%	$18.8M	$12.1M	75x	as long as short
Bitget LTCUSDT	+0.0100%	8h	62.420	−0.029%	$32.4M	$21.8M	75x	as long as short
BingX LTC-USDT	+0.0100%	8h	62.390	−0.077%	—	$37.5M	—	as long as short
edgeX LTCUSDC	+0.0100%	4h	62.447	+0.014%	$42K	$346K	20x	as long as short
GRVT LTC_USDT_Perp	+0.0100%	8h	62.388	−0.081%	$345K	$2.0M	10x	as long as short
ApeX Omni LTCUSDT	+0.0100%	1h	62.460	+0.035%	$104K	$711K	50x	as long as short
SunX LTC-USDT	+0.0100%	8h	62.570	+0.211%	$18K	$4.2M	30x	as long as short
SoDEX LTC-USD	+0.0100%	1h	62.460	+0.035%	$643	$5K	10x	as long as short
HTX LTC-USDT	+0.0100%	8h	62.460	+0.035%	$1.9M	$4.9M	75x	as long as short
Phemex LTCUSDT	+0.0100%	8h	62.480	+0.067%	$22.4M	$9.1M	50x	as long as short
Extended LTC-USD	+0.0104%	1h	62.384	−0.086%	$694K	$1.1M	25x	as long as short
Aevo LTC-PERP	+0.0104%	1h	62.465	+0.043%	$477K	$499	3x	as long as short
BloFin LTC-USDT	+0.0220%	8h	62.410	−0.045%	$4.8M	$11.8M	50x	as long as short
Kraken Futures PF_LTCUSD	+0.0226%	1h	62.506	+0.108%	$6.9M	$5.8M	50x	as long as short
Reya LTCRUSDPERP	+0.0334%	1h	62.445	+0.011%	$8K	—	25x	as long as short
dYdX LTC-USD	+0.0532%	1h	62.433	−0.008%	$439K	$8K	10x	as long as short
Coinbase International LTC-PERP-INTX	+0.0712%	1h	62.580	+0.227%	$1.2M	$2.1M	50x	as long as short