Funding arb · Price arb /

LTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0190%/8h= −20.8% APRpaid last 24h +0.017%

Price spread now: Backpack against Bybit+0.037%7-day average +0.009% · you sell dearer than you buy

Net, funding: paid 7d − costs−$30as in the Funding arb table

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$300.299% of the position

Long on Bybit Short on Backpack

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)−0.148%−$15 · spread now +0.037%, 7d avg +0.009%

Together, before fees−0.147%−$15 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Backpack is 0.029% dearer against Bybit than usual: you sell high and buy low (spread +0.037% now, against its 7-day average of +0.009%): +$3 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 12 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.001% in total (about 0.1% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit LTCUSDT	61.960	0.0100	pay 0.0100% / 8h	1h 56m	$78.5M	$59.6M	75x
Short	Backpack LTC_USDC_PERP	61.983	−0.0090	pay 0.0011% / 1h	56m 36s	$159K	$266K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Bybit. 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 BybitbpFee BackpackbpOrdersPrice spread, now +0.037%Rate

Funding earned: −$39.81
Price spread: +0.037% → +0.009%: $2.85
Slippage, 4 orders: −$8.85
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$66.81
Costs to cover: 0.299%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; Backpack: live order book, 27 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 Bybit live order book, 2 min ago	0.81 bp	8.1 bp −$8	13.7 bp −$137	50.1 bp −$5,007	doesn't fit
Sell Backpack live order book, 27 min ago	0.08 bp	5.9 bp −$6	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
Polymarket Perps LTC-USD	−0.0239%	1h	61.942	−0.029%	$79K	$371K	10x	as long as short
Backpack LTC_USDC_PERPshort	−0.0090%	1h	61.983	+0.037%	$159K	$266K	10x
Variational Omni LTC	−0.0077%	8h	62.013	+0.085%	$3.6M	$4.0M	—	as long as short
GMX LTC/USD [ETH-USDC]	L −0.0034% / S +0.0263%	1h	61.986	+0.042%	$128K	—	200x	as long as short
Gate LTC_USDT	−0.0014%	8h	62.010	+0.081%	$12.8M	$20.7M	75x	as long as short
Kalshi KXLTCPERP	0.0000%	8h	61.999	+0.063%	$330K	$4.0M	4x	as long as short
Deribit LTC_USDC-PERPETUAL	0.0000%	1h	62.032	+0.116%	$694K	$1.0M	50x	as long as short
gTrade (Gains Network) LTC/USD	L +0.0002% / S −0.0003%	1h	61.991	+0.050%	$31K	—	150x	as long as short
Injective LTC/USDC PERP	+0.0033%	1h	58.730	−5.213%	$5K	$22K	12x	as long as short
Kraken Futures PF_LTCUSD	+0.0087%	1h	62.046	+0.138%	$6.8M	$5.7M	50x	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	62.162	+0.326%	$1.3M	$1.2M	10x	as long as short
Orderly PERP_LTC_USDC	+0.0099%	8h	62.030	+0.113%	$12K	$212K	20x	as long as short
Paradex LTC-USD-PERP	+0.0100%	8h	62.002	+0.068%	$16K	$10K	20x	as long as short
Nado LTC-PERP	+0.0100%	1h	61.980	+0.032%	$254K	$329K	10x	as long as short
Hyperliquid LTC	+0.0100%	1h	62.144	+0.297%	$38.2M	$23.2M	10x	as long as short
Aster LTCUSDT	+0.0100%	8h	62.054	+0.151%	$2.6M	$2.2M	75x	as long as short
Pacifica LTC	+0.0100%	1h	62.055	+0.153%	$543K	$84K	10x	as long as short
Binance LTCUSDT	+0.0100%	8h	61.990	+0.048%	$96.0M	$221.8M	75x	as long as short
Bybit LTCUSDTlong	+0.0100%	8h	61.960	long leg	$78.5M	$59.6M	75x
OKX LTC-USDT-SWAP	+0.0100%	8h	61.960	0.000%	$27.5M	$74.8M	50x	as long as short
MEXC LTC_USDT	+0.0100%	8h	62.010	+0.081%	$60.4M	$34.2M	200x	as long as short
KuCoin LTCUSDTM	+0.0100%	8h	62.040	+0.129%	$18.7M	$12.1M	75x	as long as short
Bitget LTCUSDT	+0.0100%	8h	62.010	+0.081%	$32.2M	$21.8M	75x	as long as short
BingX LTC-USDC	+0.0100%	8h	62.010	+0.081%	—	$6.5M	—	as long as short
edgeX LTCUSDC	+0.0100%	4h	61.981	+0.034%	$42K	$345K	20x	as long as short
GRVT LTC_USDT_Perp	+0.0100%	8h	62.045	+0.136%	$348K	$1.9M	10x	as long as short
ApeX Omni LTCUSDT	+0.0100%	1h	62.070	+0.178%	$104K	$712K	50x	as long as short
SunX LTC-USDT	+0.0100%	8h	62.040	+0.129%	$17K	$4.2M	30x	as long as short
SoDEX LTC-USD	+0.0100%	1h	61.990	+0.048%	$638	$5K	10x	as long as short
HTX LTC-USDT	+0.0100%	8h	62.010	+0.081%	$1.9M	$4.8M	75x	as long as short
Phemex LTCUSDT	+0.0100%	8h	62.010	+0.081%	$22.2M	$9.1M	50x	as long as short
Extended LTC-USD	+0.0104%	1h	62.008	+0.077%	$694K	$1.1M	25x	as long as short
Aevo LTC-PERP	+0.0104%	1h	61.991	+0.050%	$473K	$499	3x	as long as short
BloFin LTC-USDT	+0.0220%	8h	62.010	+0.081%	$4.9M	$11.7M	50x	as long as short
Reya LTCRUSDPERP	+0.0334%	1h	61.961	+0.002%	$8K	—	25x	as long as short
Coinbase International LTC-PERP-INTX	+0.0760%	1h	62.060	+0.161%	$1.2M	$2.1M	50x	as long as short
dYdX LTC-USD	+0.0795%	1h	62.034	+0.120%	$436K	$8K	10x	as long as short