Funding arb · Price arb /

LTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0748%/8h= −81.9% APRpaid last 24h −0.178%

Price spread now: Bybit against Coinbase International+0.049%7-day average −0.154% · you sell dearer than you buy

Net, funding: paid 7d − costs−$92as in the Funding arb table

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

costs, in and out, $10k−$410.412% of the position

Long on Coinbase International Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.509%−$51 on $10k

Price spread, last 4 days (all we have)−0.093%−$9 · spread now +0.049%, 7d avg −0.154%

Together, before fees−0.602%−$60 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.204% dearer against Coinbase International than usual: you sell high and buy low (spread +0.049% now, against its 7-day average of −0.154%): +$20 on $10k if it goes back. Holding the pair costs −$22 a day in funding at the current rate, which eats that in about 22 hours. At the pace of the last 7 days (−0.509% in total) that is about 2.8 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.509% in total (about -26.5% 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	Coinbase International LTC-PERP-INTX	60.700	0.0848	pay 0.0106% / 1h	30m 47s	$1.1M	$2.3M	50x
Short	Bybit LTCUSDT	60.730	0.0100	get 0.0100% / 8h	4h 30m	$76.7M	$60.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Coinbase International. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Coinbase InternationalbpFee BybitbpOrdersPrice spread, now +0.049%Rate

Funding earned: −$157.08
Price spread: +0.049% → −0.154%: $20.38
Slippage, 4 orders: −$20.22
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$177.92
Costs to cover: 0.412%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 3 min ago; Bybit: live order book, 3 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 Coinbase International live order book, 3 min ago	3.30 bp	11.3 bp −$11	19.9 bp −$199	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	0.83 bp	7.1 bp −$7	12.0 bp −$120	45.7 bp −$4,570	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 −0.0318% / S +0.0426%	1h	60.683	−0.029%	$110K	—	200x	as long as short
Polymarket Perps LTC-USD	−0.0209%	1h	60.625	−0.124%	$79K	$397K	10x	as long as short
Kalshi KXLTCPERP	0.0000%	8h	60.629	−0.117%	$336K	$4.4M	4x	as long as short
gTrade (Gains Network) LTC/USD	L +0.0002% / S −0.0003%	1h	60.690	−0.016%	$30K	—	150x	as long as short
Variational Omni LTC	+0.0024%	8h	60.664	−0.059%	$3.6M	$2.6M	—	as long as short
Deribit LTC_USDC-PERPETUAL	+0.0030%	1h	60.712	+0.020%	$688K	$1.1M	50x	as long as short
Injective LTC/USDC PERP	+0.0033%	1h	58.730	−3.245%	$5K	$22K	12x	as long as short
Lighter LTC	+0.0096%	1h	60.692	−0.013%	$945K	$1.6M	10x	as long as short
Orderly PERP_LTC_USDC	+0.0099%	8h	60.660	−0.066%	$13K	$176K	20x	as long as short
Paradex LTC-USD-PERP	+0.0100%	8h	60.683	−0.028%	$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	60.655	−0.074%	$267K	$333K	10x	as long as short
Hyperliquid LTC	+0.0100%	1h	60.796	+0.158%	$37.5M	$25.3M	10x	as long as short
Aster LTCUSDT	+0.0100%	8h	60.735	+0.058%	$2.6M	$2.6M	75x	as long as short
Pacifica LTC	+0.0100%	1h	60.691	−0.014%	$531K	$83K	10x	as long as short
Binance LTCUSDT	+0.0100%	8h	60.742	+0.069%	$90.2M	$229.4M	75x	as long as short
Bybit LTCUSDTshort	+0.0100%	8h	60.730	+0.049%	$76.7M	$60.1M	75x
OKX LTC-USDT-SWAP	+0.0100%	8h	60.740	+0.066%	$26.8M	$75.3M	50x	as long as short
Gate LTC_USDT	+0.0100%	8h	60.730	+0.049%	$12.6M	$21.8M	75x	as long as short
MEXC LTC_USDT	+0.0100%	8h	60.730	+0.049%	$56.2M	$35.3M	200x	as long as short
KuCoin LTCUSDTM	+0.0100%	8h	60.720	+0.033%	$18.2M	$12.9M	75x	as long as short
Bitget LTCUSDT	+0.0100%	8h	60.740	+0.066%	$32.3M	$22.4M	75x	as long as short
BingX LTC-USDT	+0.0100%	8h	60.730	+0.049%	—	$38.3M	—	as long as short
Backpack LTC_USDC_PERP	+0.0100%	1h	60.701	+0.002%	$153K	$279K	10x	as long as short
edgeX LTCUSDC	+0.0100%	4h	60.360	−0.559%	$41K	$375K	20x	as long as short
GRVT LTC_USDT_Perp	+0.0100%	8h	60.380	−0.527%	$335K	$1.9M	10x	as long as short
ApeX Omni LTCUSDT	+0.0100%	1h	60.490	−0.346%	$107K	$719K	50x	as long as short
SunX LTC-USDT	+0.0100%	8h	60.770	+0.115%	$17K	$3.9M	30x	as long as short
SoDEX LTC-USD	+0.0100%	1h	60.690	−0.016%	$163	$5K	10x	as long as short
HTX LTC-USDT	+0.0100%	8h	60.650	−0.082%	$1.9M	$5.0M	75x	as long as short
Phemex LTCUSDT	+0.0100%	8h	60.720	+0.033%	$21.5M	$8.9M	50x	as long as short
Extended LTC-USD	+0.0104%	1h	60.709	+0.015%	$671K	$1.1M	25x	as long as short
Aevo LTC-PERP	+0.0104%	1h	60.680	−0.033%	$463K	—	3x	as long as short
BloFin LTC-USDT	+0.0220%	8h	60.680	−0.033%	$4.7M	$12.2M	50x	as long as short
Kraken Futures PF_LTCUSD	+0.0295%	1h	60.719	+0.031%	$6.7M	$6.2M	50x	as long as short
Reya LTCRUSDPERP	+0.0336%	1h	60.676	−0.040%	$8K	—	25x	as long as short
dYdX LTC-USD	+0.0398%	1h	60.672	−0.046%	$426K	$8K	10x	as long as short
Coinbase International LTC-PERP-INTXlong	+0.0848%	1h	60.700	long leg	$1.1M	$2.3M	50x