Funding arb · Price arb /

LTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.025%

Price spread now: Kalshi against Backpack−0.095%7-day average +0.039% · you buy dearer than you sell

Net, funding: paid 7d − costs−$48as in the Funding arb table

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

costs, in and out, $10k−$350.347% of the position

Long on Backpack Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.129%−$13 on $10k

Price spread, last 4 days (all we have)+0.680%+$68 · spread now −0.095%, 7d avg +0.039%

Together, before fees+0.551%+$55 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Kalshi is 0.135% cheaper against Backpack than usual: you would sell low and buy high (−$13 if the spread goes back to its 7-day average of +0.039%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack LTC_USDC_PERP	60.854	0.0100	pay 0.0013% / 1h	42m 36s	$153K	$277K	10x
Short	Kalshi KXLTCPERP	60.796	0	get 0.0000% / 8h	1h 42m	$320K	$4.3M	4x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi 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 KalshibpOrdersPrice spread, now −0.095%Rate

Funding earned: −$21
Price spread: −0.095% → +0.039%: −$13.48
Slippage, 4 orders: −$14.65
Fee Backpack: 5 bp × 2 orders: −$10
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$69.13
Costs to cover: 0.347%
Break-even: never at this rate

Slippage from Backpack: live order book, 21 min ago; Kalshi: 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 Backpack live order book, 21 min ago	0.08 bp	7.2 bp −$7	doesn't fit	doesn't fit	doesn't fit
Sell Kalshi live order book, 1 min ago	2.38 bp	9.1 bp −$9	18.7 bp −$187	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 −0.0257% / S +0.0379%	1h	60.841	−0.021%	$110K	—	200x	as long as short
Polymarket Perps LTC-USD	−0.0066%	1h	60.751	−0.169%	$80K	$390K	10x	as long as short
Variational Omni LTC	−0.0003%	8h	60.684	−0.279%	$3.6M	$2.6M	—	as long as short
Kalshi KXLTCPERPshort	0.0000%	8h	60.796	−0.095%	$320K	$4.3M	4x
gTrade (Gains Network) LTC/USD	L +0.0002% / S −0.0003%	1h	60.845	−0.015%	$30K	—	150x	as long as short
Injective LTC/USDC PERP	+0.0033%	1h	58.730	−3.490%	$5K	$22K	12x	as long as short
Orderly PERP_LTC_USDC	+0.0100%	8h	60.840	−0.023%	$13K	$211K	20x	as long as short
Paradex LTC-USD-PERP	+0.0100%	8h	60.847	−0.012%	$14K	$10K	20x	as long as short
Nado LTC-PERP	+0.0100%	1h	60.770	−0.138%	$265K	$327K	10x	as long as short
Hyperliquid LTC	+0.0100%	1h	60.897	+0.071%	$37.1M	$24.7M	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster LTCUSDT	+0.0100%	8h	60.878	+0.040%	$2.6M	$2.4M	75x	as long as short
Pacifica LTC	+0.0100%	1h	60.866	+0.019%	$532K	$83K	10x	as long as short
Binance LTCUSDT	+0.0100%	8h	60.870	+0.026%	$91.4M	$225.1M	75x	as long as short
Bybit LTCUSDT	+0.0100%	8h	60.840	−0.023%	$77.4M	$58.5M	75x	as long as short
OKX LTC-USDT-SWAP	+0.0100%	8h	60.840	−0.023%	$26.9M	$74.2M	50x	as long as short
Gate LTC_USDT	+0.0100%	8h	60.850	−0.007%	$12.7M	$21.2M	75x	as long as short
MEXC LTC_USDT	+0.0100%	8h	60.850	−0.007%	$58.1M	$34.6M	200x	as long as short
KuCoin LTCUSDTM	+0.0100%	8h	60.870	+0.026%	$18.3M	$12.7M	75x	as long as short
Bitget LTCUSDT	+0.0100%	8h	60.860	+0.010%	$32.6M	$22.2M	75x	as long as short
BingX LTC-USDC	+0.0100%	8h	60.840	−0.023%	—	$6.5M	—	as long as short
Backpack LTC_USDC_PERPlong	+0.0100%	1h	60.854	long leg	$153K	$277K	10x
edgeX LTCUSDC	+0.0100%	4h	60.742	−0.184%	$41K	$375K	20x	as long as short
GRVT LTC_USDT_Perp	+0.0100%	8h	60.661	−0.317%	$336K	$1.9M	10x	as long as short
ApeX Omni LTCUSDT	+0.0100%	1h	60.810	−0.072%	$102K	$716K	50x	as long as short
SunX LTC-USDT	+0.0100%	8h	60.930	+0.125%	$17K	$3.9M	30x	as long as short
SoDEX LTC-USD	+0.0100%	1h	60.860	+0.010%	$163	$5K	10x	as long as short
HTX LTC-USDT	+0.0100%	8h	60.730	−0.204%	$2.0M	$4.9M	75x	as long as short
Phemex LTCUSDT	+0.0100%	8h	60.870	+0.026%	$21.6M	$8.7M	50x	as long as short
Extended LTC-USD	+0.0104%	1h	60.829	−0.041%	$675K	$1.1M	25x	as long as short
Aevo LTC-PERP	+0.0104%	1h	60.845	−0.015%	$465K	—	3x	as long as short
Deribit LTC_USDC-PERPETUAL	+0.0111%	1h	60.881	+0.044%	$689K	$1.1M	50x	as long as short
Lighter LTC	+0.0168%	1h	60.926	+0.118%	$1.3M	$1.2M	10x	as long as short
BloFin LTC-USDT	+0.0220%	8h	60.810	−0.072%	$4.8M	$12.2M	50x	as long as short
dYdX LTC-USD	+0.0223%	1h	60.878	+0.040%	$428K	$8K	10x	as long as short
Reya LTCRUSDPERP	+0.0336%	1h	60.805	−0.080%	$8K	—	25x	as long as short
Kraken Futures PF_LTCUSD	+0.0349%	1h	60.899	+0.073%	$6.7M	$6.1M	50x	as long as short
Coinbase International LTC-PERP-INTX	+0.0832%	1h	60.820	−0.056%	$1.1M	$2.3M	50x	as long as short