Funding arb · Price arb /

LTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0053%/8h= +5.8% APRpaid last 24h +0.004%

Price spread now: Phemex against Backpack+0.071%7-day average +0.069% · you sell dearer than you buy

Net, funding: paid 7d − costs−$25as in the Funding arb table

Net, price: spread back to 7d avg − costs−$33as in the Price arb table

costs, in and out, $10k−$330.327% of the position

Long on Backpack Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.081%+$8 on $10k

Price spread, last 3 days (all we have)+0.043%+$4 · spread now +0.071%, 7d avg +0.069%

Together, before fees+0.125%+$12 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.069%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack LTC_USDC_PERP	62.336	0.0047	pay 0.0006% / 1h	15m 29s	$161K	$268K	10x
Short	Phemex LTCUSDT	62.380	0.0100	get 0.0100% / 8h	2h 15m	$22.3M	$9.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.071%Rate

Funding earned: $11.09
Price spread: +0.071% → +0.069%: $0.2
Slippage, 4 orders: −$10.73
Fee Backpack: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$21.44
Costs to cover: 0.327%
Break-even: 20.5 days

Slippage from Backpack: live order book, 8 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 Backpack live order book, 8 min ago	0.08 bp	7.2 bp −$7	doesn't fit	doesn't fit	doesn't fit
Sell Phemex live order book, 4 min ago	1.60 bp	10.4 bp −$10	17.9 bp −$179	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
Polymarket Perps LTC-USD	−0.0311%	1h	62.261	−0.120%	$79K	$371K	10x	as long as short
Variational Omni LTC	−0.0082%	8h	62.432	+0.153%	$3.6M	$4.0M	—	as long as short
GMX LTC/USD [ETH-USDC]	L −0.0030% / S +0.0260%	1h	62.321	−0.024%	$129K	—	200x	as long as short
Gate LTC_USDT	−0.0028%	8h	62.310	−0.042%	$12.8M	$20.9M	75x	as long as short
Kalshi KXLTCPERP	0.0000%	8h	62.397	+0.098%	$348K	$4.0M	4x	as long as short
Deribit LTC_USDC-PERPETUAL	0.0000%	1h	62.407	+0.114%	$698K	$1.0M	50x	as long as short
gTrade (Gains Network) LTC/USD	L +0.0002% / S −0.0003%	1h	62.333	−0.006%	$31K	—	150x	as long as short
Injective LTC/USDC PERP	+0.0033%	1h	58.730	−5.785%	$5K	$22K	12x	as long as short
Backpack LTC_USDC_PERPlong	+0.0047%	1h	62.336	long leg	$161K	$268K	10x
Bybit LTCUSDT	+0.0086%	8h	62.300	−0.058%	$78.9M	$59.7M	75x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter LTC	+0.0096%	1h	62.452	+0.186%	$1.3M	$1.2M	10x	as long as short
Orderly PERP_LTC_USDC	+0.0099%	8h	62.360	+0.039%	$12K	$212K	20x	as long as short
Paradex LTC-USD-PERP	+0.0100%	8h	62.384	+0.078%	$16K	$10K	20x	as long as short
Nado LTC-PERP	+0.0100%	1h	62.310	−0.042%	$253K	$327K	10x	as long as short
Hyperliquid LTC	+0.0100%	1h	62.377	+0.066%	$38.3M	$23.1M	10x	as long as short
Aster LTCUSDT	+0.0100%	8h	62.397	+0.098%	$2.6M	$2.1M	75x	as long as short
Pacifica LTC	+0.0100%	1h	62.370	+0.055%	$546K	$84K	10x	as long as short
Binance LTCUSDT	+0.0100%	8h	62.320	−0.026%	$96.4M	$221.4M	75x	as long as short
OKX LTC-USDT-SWAP	+0.0100%	8h	62.320	−0.026%	$27.8M	$75.2M	50x	as long as short
MEXC LTC_USDT	+0.0100%	8h	62.300	−0.058%	$61.6M	$35.3M	200x	as long as short
KuCoin LTCUSDTM	+0.0100%	8h	62.310	−0.042%	$18.8M	$12.1M	75x	as long as short
Bitget LTCUSDT	+0.0100%	8h	62.290	−0.074%	$32.3M	$21.8M	75x	as long as short
BingX LTC-USDC	+0.0100%	8h	62.330	−0.010%	—	$6.5M	—	as long as short
edgeX LTCUSDC	+0.0100%	4h	62.363	+0.043%	$42K	$347K	20x	as long as short
GRVT LTC_USDT_Perp	+0.0100%	8h	62.371	+0.056%	$345K	$2.0M	10x	as long as short
ApeX Omni LTCUSDT	+0.0100%	1h	62.400	+0.103%	$104K	$711K	50x	as long as short
SunX LTC-USDT	+0.0100%	8h	62.470	+0.215%	$17K	$4.2M	30x	as long as short
SoDEX LTC-USD	+0.0100%	1h	62.350	+0.022%	$642	$5K	10x	as long as short
HTX LTC-USDT	+0.0100%	8h	62.340	+0.006%	$1.9M	$4.9M	75x	as long as short
Phemex LTCUSDTshort	+0.0100%	8h	62.380	+0.071%	$22.3M	$9.1M	50x
Extended LTC-USD	+0.0104%	1h	62.302	−0.054%	$694K	$1.1M	25x	as long as short
Aevo LTC-PERP	+0.0104%	1h	62.375	+0.063%	$476K	$499	3x	as long as short
BloFin LTC-USDT	+0.0220%	8h	62.330	−0.010%	$4.9M	$11.8M	50x	as long as short
Kraken Futures PF_LTCUSD	+0.0226%	1h	62.393	+0.091%	$6.9M	$5.8M	50x	as long as short
Reya LTCRUSDPERP	+0.0334%	1h	62.292	−0.070%	$8K	—	25x	as long as short
dYdX LTC-USD	+0.0536%	1h	62.354	+0.028%	$438K	$8K	10x	as long as short
Coinbase International LTC-PERP-INTX	+0.0712%	1h	62.580	+0.391%	$1.2M	$2.1M	50x	as long as short