Funding arb · Price arb /

LTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.066%

Price spread now: Hyperliquid against Backpack+0.082%7-day average +0.123% · you sell dearer than you buy

Net, funding: paid 7d − costs−$5as in the Funding arb table

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

costs, in and out, $10k−$270.268% of the position

Long on Backpack Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.223%+$22 on $10k

Price spread, last 4 days (all we have)+0.150%+$15 · spread now +0.082%, 7d avg +0.123%

Together, before fees+0.373%+ Points / potential airdropHyperliquid: Season 2 · farm board+$37 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Hyperliquid is 0.041% cheaper against Backpack than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.123%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack LTC_USDC_PERP	61.880	0.0100	pay 0.0013% / 1h	16m 18s	$159K	$266K	10x
Short	Hyperliquid LTC	61.931	0.0100	get 0.0013% / 1h	16m 18s	$37.5M	$23.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.082%Rate

Funding earned: $0
Price spread: +0.082% → +0.123%: −$4.07
Slippage, 4 orders: −$7.84
Fee Backpack: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$30.9
Costs to cover: 0.268%
Break-even: never at this rate

Slippage from Backpack: live order book, 62 min ago; Hyperliquid: live order book, 7 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, 62 min ago	0.08 bp	6.3 bp −$6	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 7 min ago	0.40 bp	6.7 bp −$7	doesn't fit	doesn't fit	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
GMX LTC/USD [ETH-USDC]	L −0.0139% / S +0.0332%	1h	61.876	−0.007%	$122K	—	200x	as long as short
Variational Omni LTC	−0.0046%	8h	61.886	+0.010%	$3.6M	$4.0M	—	as long as short
Polymarket Perps LTC-USD	−0.0005%	1h	61.836	−0.071%	$85K	$378K	10x	as long as short
Kalshi KXLTCPERP	0.0000%	8h	61.934	+0.087%	$313K	$4.2M	4x	as long as short
Deribit LTC_USDC-PERPETUAL	0.0000%	1h	61.898	+0.029%	$700K	$1.1M	50x	as long as short
gTrade (Gains Network) LTC/USD	L +0.0002% / S −0.0003%	1h	61.879	−0.002%	$31K	—	150x	as long as short
Injective LTC/USDC PERP	+0.0033%	1h	58.730	−5.090%	$5K	$22K	12x	as long as short
Gate LTC_USDT	+0.0089%	8h	61.880	0.000%	$13.0M	$21.4M	75x	as long as short
Lighter LTC	+0.0096%	1h	61.944	+0.103%	$1.3M	$1.2M	10x	as long as short
Orderly PERP_LTC_USDC	+0.0100%	8h	61.860	−0.032%	$12K	$213K	20x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex LTC-USD-PERP	+0.0100%	8h	61.922	+0.068%	$14K	$10K	20x	as long as short
Nado LTC-PERP	+0.0100%	1h	61.870	−0.016%	$264K	$323K	10x	as long as short
Hyperliquid LTCshort	+0.0100%	1h	61.931	+0.082%	$37.5M	$23.8M	10x
Aster LTCUSDT	+0.0100%	8h	61.930	+0.081%	$2.6M	$2.3M	75x	as long as short
Pacifica LTC	+0.0100%	1h	61.930	+0.081%	$541K	$87K	10x	as long as short
Binance LTCUSDT	+0.0100%	8h	61.864	−0.027%	$95.8M	$223.4M	75x	as long as short
Bybit LTCUSDT	+0.0100%	8h	61.850	−0.048%	$78.4M	$59.7M	75x	as long as short
OKX LTC-USDT-SWAP	+0.0100%	8h	61.860	−0.032%	$27.6M	$75.3M	50x	as long as short
MEXC LTC_USDT	+0.0100%	8h	61.870	−0.016%	$61.4M	$34.3M	200x	as long as short
KuCoin LTCUSDTM	+0.0100%	8h	61.890	+0.016%	$19.1M	$12.6M	75x	as long as short
Bitget LTCUSDT	+0.0100%	8h	61.890	+0.016%	$32.1M	$22.1M	75x	as long as short
BingX LTC-USDT	+0.0100%	8h	61.870	−0.016%	—	$37.7M	—	as long as short
Backpack LTC_USDC_PERPlong	+0.0100%	1h	61.880	long leg	$159K	$266K	10x
edgeX LTCUSDC	+0.0100%	4h	61.878	−0.003%	$42K	$357K	20x	as long as short
GRVT LTC_USDT_Perp	+0.0100%	8h	61.890	+0.016%	$342K	$2.0M	10x	as long as short
ApeX Omni LTCUSDT	+0.0100%	1h	61.920	+0.065%	$118K	$711K	50x	as long as short
SunX LTC-USDT	+0.0100%	8h	61.960	+0.129%	$18K	$4.1M	30x	as long as short
SoDEX LTC-USD	+0.0100%	1h	61.860	−0.032%	$637	$5K	10x	as long as short
HTX LTC-USDT	+0.0100%	8h	61.920	+0.065%	$1.9M	$4.8M	75x	as long as short
Phemex LTCUSDT	+0.0100%	8h	61.890	+0.016%	$22.1M	$9.2M	50x	as long as short
Extended LTC-USD	+0.0104%	1h	61.843	−0.059%	$688K	$1.1M	25x	as long as short
Aevo LTC-PERP	+0.0104%	1h	61.870	−0.016%	$472K	$499	3x	as long as short
BloFin LTC-USDT	+0.0220%	8h	61.850	−0.048%	$4.8M	$11.8M	50x	as long as short
Reya LTCRUSDPERP	+0.0335%	1h	61.867	−0.022%	$8K	—	25x	as long as short
Kraken Futures PF_LTCUSD	+0.0434%	1h	61.901	+0.034%	$6.8M	$5.8M	50x	as long as short
dYdX LTC-USD	+0.0771%	1h	61.931	+0.082%	$435K	$8K	10x	as long as short
Coinbase International LTC-PERP-INTX	+0.0848%	1h	62.080	+0.323%	$1.2M	$2.3M	50x	as long as short