Funding arb · Price arb /

LTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0073%/8h= −8.0% APRpaid last 24h −0.055%

Price spread now: Variational Omni against Backpack−0.045%7-day average +0.002% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Backpack Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.101%−$10 on $10k

Price spread, last 4 days (all we have)+0.402%+$40 · spread now −0.045%, 7d avg +0.002%

Together, before fees+0.302%+ Points / potential airdropVariational Omni: Active · farm board+$30 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Variational Omni is 0.047% cheaper against Backpack than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.002%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack LTC_USDC_PERP	61.062	0.0100	pay 0.0013% / 1h	34m 43s	$147K	$278K	10x
Short	Variational Omni LTC	61.034	0.0027	get 0.0027% / 8h	3h 34m	$3.6M	$2.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.045%Rate

Funding earned: −$15.4
Price spread: −0.045% → +0.002%: −$4.75
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$30.15
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Backpack: live order book, 19 min ago; Variational Omni: RFQ quote, 4 min ago. Net counts fees only.

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, 19 min ago	0.08 bp	9.5 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 4 min ago	3.53 bp	doesn't fit	7.6 bp −$76	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 −0.0254% / S +0.0399%	1h	61.077	+0.025%	$103K	—	200x	as long as short
Polymarket Perps LTC-USD	−0.0253%	1h	61.035	−0.044%	$93K	$612K	10x	as long as short
Kalshi KXLTCPERP	0.0000%	8h	61.081	+0.031%	$347K	$4.4M	4x	as long as short
gTrade (Gains Network) LTC/USD	L +0.0002% / S −0.0003%	1h	61.082	+0.033%	$30K	—	150x	as long as short
Variational Omni LTCshort	+0.0027%	8h	61.034	−0.045%	$3.6M	$2.6M	—
Injective LTC/USDC PERP	+0.0033%	1h	58.730	−3.819%	$5K	$22K	12x	as long as short
Deribit LTC_USDC-PERPETUAL	+0.0077%	1h	61.103	+0.067%	$690K	$1.1M	50x	as long as short
Lighter LTC	+0.0096%	1h	61.076	+0.023%	$942K	$1.6M	10x	as long as short
Orderly PERP_LTC_USDC	+0.0099%	8h	61.060	−0.003%	$13K	$145K	20x	as long as short
Paradex LTC-USD-PERP	+0.0100%	8h	60.998	−0.105%	$14K	$10K	20x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado LTC-PERP	+0.0100%	1h	61.055	−0.011%	$268K	$334K	10x	as long as short
Hyperliquid LTC	+0.0100%	1h	61.107	+0.074%	$37.3M	$25.3M	10x	as long as short
Aster LTCUSDT	+0.0100%	8h	61.079	+0.028%	$2.6M	$2.6M	75x	as long as short
Pacifica LTC	+0.0100%	1h	61.044	−0.029%	$534K	$83K	10x	as long as short
Binance LTCUSDT	+0.0100%	8h	61.026	−0.060%	$90.1M	$232.4M	75x	as long as short
Bybit LTCUSDT	+0.0100%	8h	61.010	−0.085%	$77.6M	$61.6M	75x	as long as short
OKX LTC-USDT-SWAP	+0.0100%	8h	61.010	−0.085%	$26.9M	$76.4M	50x	as long as short
Gate LTC_USDT	+0.0100%	8h	61.070	+0.013%	$12.8M	$21.9M	75x	as long as short
MEXC LTC_USDT	+0.0100%	8h	61.030	−0.052%	$58.0M	$35.4M	200x	as long as short
KuCoin LTCUSDTM	+0.0100%	8h	61.030	−0.052%	$18.2M	$13.1M	75x	as long as short
Bitget LTCUSDT	+0.0100%	8h	61.030	−0.052%	$31.4M	$22.9M	75x	as long as short
BingX LTC-USDC	+0.0100%	8h	61.060	−0.003%	—	$6.5M	—	as long as short
Backpack LTC_USDC_PERPlong	+0.0100%	1h	61.062	long leg	$147K	$278K	10x
edgeX LTCUSDC	+0.0100%	4h	61.070	+0.013%	$41K	$374K	20x	as long as short
GRVT LTC_USDT_Perp	+0.0100%	8h	60.979	−0.136%	$345K	$2.0M	10x	as long as short
ApeX Omni LTCUSDT	+0.0100%	1h	61.110	+0.079%	$107K	$717K	50x	as long as short
SunX LTC-USDT	+0.0100%	8h	61.110	+0.079%	$17K	$3.9M	30x	as long as short
SoDEX LTC-USD	+0.0100%	1h	61.050	−0.020%	$164	$5K	10x	as long as short
HTX LTC-USDT	+0.0100%	8h	61.030	−0.052%	$2.0M	$5.1M	75x	as long as short
Phemex LTCUSDT	+0.0100%	8h	61.080	+0.029%	$21.6M	$8.9M	50x	as long as short
Extended LTC-USD	+0.0104%	1h	61.032	−0.049%	$679K	$1.1M	25x	as long as short
Aevo LTC-PERP	+0.0104%	1h	61.075	+0.021%	$466K	—	3x	as long as short
BloFin LTC-USDT	+0.0220%	8h	61.020	−0.069%	$4.7M	$12.3M	50x	as long as short
Kraken Futures PF_LTCUSD	+0.0230%	1h	61.076	+0.024%	$6.7M	$6.3M	50x	as long as short
dYdX LTC-USD	+0.0233%	1h	61.028	−0.055%	$429K	$8K	10x	as long as short
Reya LTCRUSDPERP	+0.0337%	1h	61.066	+0.006%	$8K	—	25x	as long as short
Coinbase International LTC-PERP-INTX	+0.0792%	1h	61.150	+0.144%	$1.1M	$2.4M	50x	as long as short