Funding arb · Price arb /

LTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0748%/8h= −81.9% APRpaid last 24h −0.137%

Price spread now: Phemex against Coinbase International+0.178%7-day average −0.070% · you sell dearer than you buy

Net, funding: paid 7d − costs−$81as in the Funding arb table

Net, price: spread back to 7d avg − costs−$19as in the Price arb table

costs, in and out, $10k−$430.434% of the position

Long on Coinbase International Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.376%−$38 on $10k

Price spread, last 3 days (all we have)−0.160%−$16 · spread now +0.178%, 7d avg −0.070%

Together, before fees−0.537%−$54 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phemex is 0.248% dearer against Coinbase International than usual: you sell high and buy low (spread +0.178% now, against its 7-day average of −0.070%): +$25 on $10k if it goes back. Holding the pair costs −$22 a day in funding at the current rate, which eats that in about 26 hours. At the pace of the last 7 days (−0.376% in total) that is about 4.6 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.376% in total (about -19.6% 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	61.770	0.0848	pay 0.0106% / 1h	56m 06s	$1.2M	$2.2M	50x
Short	Phemex LTCUSDT	61.880	0.0100	get 0.0100% / 8h	56m 06s	$22.1M	$9.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Coinbase International. 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 Coinbase InternationalbpFee PhemexbpOrdersPrice spread, now +0.178%Rate

Funding earned: −$157.08
Price spread: +0.178% → −0.070%: $24.77
Slippage, 4 orders: −$21.43
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$175.74
Costs to cover: 0.434%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 3 min ago; Phemex: 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	4.85 bp	9.8 bp −$10	17.9 bp −$179	doesn't fit	doesn't fit
Sell Phemex live order book, 3 min ago	0.81 bp	10.6 bp −$11	19.6 bp −$196	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 −0.0089% / S +0.0286%	1h	61.860	+0.146%	$112K	—	200x	as long as short
Variational Omni LTC	−0.0049%	8h	61.537	−0.378%	$3.6M	$4.0M	—	as long as short
Kalshi KXLTCPERP	0.0000%	8h	61.824	+0.087%	$337K	$4.1M	4x	as long as short
gTrade (Gains Network) LTC/USD	L +0.0002% / S −0.0003%	1h	61.849	+0.129%	$31K	—	150x	as long as short
Injective LTC/USDC PERP	+0.0033%	1h	58.730	−4.921%	$5K	$22K	12x	as long as short
Gate LTC_USDT	+0.0069%	8h	61.890	+0.194%	$13.0M	$21.2M	75x	as long as short
Orderly PERP_LTC_USDC	+0.0100%	8h	61.850	+0.130%	$12K	$213K	20x	as long as short
Paradex LTC-USD-PERP	+0.0100%	8h	61.778	+0.013%	$14K	$10K	20x	as long as short
Nado LTC-PERP	+0.0100%	1h	61.790	+0.032%	$255K	$322K	10x	as long as short
Hyperliquid LTC	+0.0100%	1h	61.918	+0.240%	$37.5M	$23.7M	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	61.900	+0.210%	$2.6M	$2.3M	75x	as long as short
Pacifica LTC	+0.0100%	1h	61.795	+0.041%	$540K	$87K	10x	as long as short
Binance LTCUSDT	+0.0100%	8h	61.890	+0.194%	$95.8M	$222.8M	75x	as long as short
Bybit LTCUSDT	+0.0100%	8h	61.860	+0.146%	$78.5M	$59.6M	75x	as long as short
OKX LTC-USDT-SWAP	+0.0100%	8h	61.870	+0.162%	$27.6M	$75.2M	50x	as long as short
MEXC LTC_USDT	+0.0100%	8h	61.880	+0.178%	$61.6M	$33.7M	200x	as long as short
KuCoin LTCUSDTM	+0.0100%	8h	61.890	+0.194%	$19.1M	$12.7M	75x	as long as short
Bitget LTCUSDT	+0.0100%	8h	61.890	+0.194%	$32.1M	$22.1M	75x	as long as short
BingX LTC-USDC	+0.0100%	8h	61.870	+0.162%	—	$6.5M	—	as long as short
Backpack LTC_USDC_PERP	+0.0100%	1h	61.856	+0.139%	$158K	$265K	10x	as long as short
edgeX LTCUSDC	+0.0100%	4h	61.642	−0.208%	$42K	$355K	20x	as long as short
GRVT LTC_USDT_Perp	+0.0100%	8h	61.582	−0.305%	$351K	$2.0M	10x	as long as short
ApeX Omni LTCUSDT	+0.0100%	1h	61.630	−0.227%	$103K	$708K	50x	as long as short
Polymarket Perps LTC-USD	+0.0100%	1h	61.800	+0.049%	$85K	$378K	10x	as long as short
SunX LTC-USDT	+0.0100%	8h	61.960	+0.308%	$18K	$4.2M	30x	as long as short
SoDEX LTC-USD	+0.0100%	1h	61.880	+0.178%	$637	$5K	10x	as long as short
HTX LTC-USDT	+0.0100%	8h	61.850	+0.130%	$1.9M	$4.8M	75x	as long as short
Phemex LTCUSDTshort	+0.0100%	8h	61.880	+0.178%	$22.1M	$9.1M	50x
Extended LTC-USD	+0.0104%	1h	61.864	+0.153%	$688K	$1.1M	25x	as long as short
Aevo LTC-PERP	+0.0104%	1h	61.862	+0.150%	$472K	$499	3x	as long as short
BloFin LTC-USDT	+0.0220%	8h	61.760	−0.016%	$4.8M	$11.8M	50x	as long as short
Lighter LTC	+0.0256%	1h	61.942	+0.278%	$1.3M	$1.2M	10x	as long as short
Deribit LTC_USDC-PERPETUAL	+0.0267%	1h	61.905	+0.219%	$699K	$1.1M	50x	as long as short
Reya LTCRUSDPERP	+0.0335%	1h	61.817	+0.076%	$8K	—	25x	as long as short
Kraken Futures PF_LTCUSD	+0.0434%	1h	61.921	+0.244%	$6.8M	$5.8M	50x	as long as short
Coinbase International LTC-PERP-INTXlong	+0.0848%	1h	61.770	long leg	$1.2M	$2.2M	50x
dYdX LTC-USD	+0.0974%	1h	61.781	+0.017%	$434K	$8K	10x	as long as short