Funding arb · Price arb /

LTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h −0.010%

Price spread now: Phemex against Deribit−0.025%7-day average +0.007% · you buy dearer than you sell

Net, funding: paid 7d − costs−$21as in the Funding arb table

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$340.344% of the position

Long on Deribit Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.138%+$14 on $10k

Price spread, last 4 days (all we have)+0.038%+$4 · spread now −0.025%, 7d avg +0.007%

Together, before fees+0.176%+$18 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phemex is 0.032% cheaper against Deribit than usual: you would sell low and buy high (spread −0.025% now, against its 7-day average of +0.007%). If the spread goes back, that is −$3 on $10k: about 26 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit LTC_USDC-PERPETUAL	60.825	0	get 0.0000% / 1h	42m 49s	$688K	$1.1M	50x
Short	Phemex LTCUSDT	60.810	0.0100	get 0.0100% / 8h	42m 49s	$21.4M	$9.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Deribit. 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 DeribitbpFee PhemexbpOrdersPrice spread, now −0.025%Rate

Funding earned: $21
Price spread: −0.025% → +0.007%: −$3.2
Slippage, 4 orders: −$15.38
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$16.58
Costs to cover: 0.344%
Break-even: 12.5 days

Slippage from Deribit: live order book, 1 min ago; Phemex: live order book, 6 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 Deribit live order book, 1 min ago	3.29 bp	6.8 bp −$7	13.4 bp −$134	doesn't fit	doesn't fit
Sell Phemex live order book, 6 min ago	0.82 bp	9.9 bp −$10	21.1 bp −$211	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	−0.0038%	1h	60.789	−0.059%	$82K	$740K	10x	as long as short
GMX LTC/USD [ETH-USDC]	L −0.0032% / S +0.0163%	1h	60.808	−0.029%	$76K	—	200x	as long as short
Kalshi KXLTCPERP	0.0000%	8h	60.822	−0.005%	$333K	$4.3M	4x	as long as short
Deribit LTC_USDC-PERPETUALlong	0.0000%	1h	60.825	long leg	$688K	$1.1M	50x
gTrade (Gains Network) LTC/USD	L +0.0002% / S −0.0002%	1h	60.795	−0.050%	$25K	—	150x	as long as short
Variational Omni LTC	+0.0024%	8h	60.773	−0.085%	$3.6M	$2.7M	—	as long as short
Injective LTC/USDC PERP	+0.0033%	1h	58.730	−3.444%	$5K	$22K	12x	as long as short
dYdX LTC-USD	+0.0081%	1h	60.800	−0.041%	$427K	$6K	10x	as long as short
Lighter LTC	+0.0096%	1h	60.818	−0.012%	$931K	$1.7M	10x	as long as short
Orderly PERP_LTC_USDC	+0.0099%	8h	60.770	−0.090%	$13K	$113K	20x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex LTC-USD-PERP	+0.0100%	8h	60.802	−0.037%	$14K	$10K	20x	as long as short
Nado LTC-PERP	+0.0100%	1h	60.780	−0.074%	$265K	$341K	10x	as long as short
Aster LTCUSDT	+0.0100%	8h	60.810	−0.025%	$2.5M	$2.6M	75x	as long as short
Pacifica LTC	+0.0100%	1h	60.808	−0.029%	$532K	$82K	10x	as long as short
Binance LTCUSDT	+0.0100%	8h	60.766	−0.096%	$89.2M	$234.8M	75x	as long as short
Bybit LTCUSDT	+0.0100%	8h	60.750	−0.123%	$77.0M	$61.3M	75x	as long as short
OKX LTC-USDT-SWAP	+0.0100%	8h	60.760	−0.107%	$26.9M	$76.5M	50x	as long as short
Gate LTC_USDT	+0.0100%	8h	60.770	−0.090%	$13.9M	$22.1M	75x	as long as short
MEXC LTC_USDT	+0.0100%	8h	60.780	−0.074%	$57.0M	$36.2M	200x	as long as short
KuCoin LTCUSDTM	+0.0100%	8h	60.800	−0.041%	$18.3M	$13.4M	75x	as long as short
Bitget LTCUSDT	+0.0100%	8h	60.790	−0.058%	$31.2M	$22.8M	75x	as long as short
BingX LTC-USDT	+0.0100%	8h	60.770	−0.090%	—	$18.6M	—	as long as short
Backpack LTC_USDC_PERP	+0.0100%	1h	60.802	−0.038%	$141K	$269K	10x	as long as short
edgeX LTCUSDC	+0.0100%	4h	60.830	+0.008%	$41K	$377K	20x	as long as short
GRVT LTC_USDT_Perp	+0.0100%	8h	60.770	−0.091%	$337K	$2.0M	10x	as long as short
ApeX Omni LTCUSDT	+0.0100%	1h	60.760	−0.107%	$107K	$713K	50x	as long as short
SunX LTC-USDT	+0.0100%	8h	60.890	+0.107%	$17K	$3.8M	30x	as long as short
SoDEX LTC-USD	+0.0100%	1h	60.780	−0.074%	$163	$5K	10x	as long as short
HTX LTC-USDT	+0.0100%	8h	60.750	−0.123%	$1.9M	$5.0M	75x	as long as short
Phemex LTCUSDTshort	+0.0100%	8h	60.810	−0.025%	$21.4M	$9.0M	50x
Extended LTC-USD	+0.0104%	1h	60.754	−0.117%	$684K	$1.1M	25x	as long as short
Aevo LTC-PERP	+0.0104%	1h	60.785	−0.066%	$464K	—	3x	as long as short
Kraken Futures PF_LTCUSD	+0.0183%	1h	60.806	−0.031%	$6.6M	$6.6M	50x	as long as short
Hyperliquid LTC	+0.0185%	1h	60.865	+0.066%	$38.3M	$26.4M	10x	as long as short
BloFin LTC-USDT	+0.0220%	8h	60.780	−0.074%	$4.2M	$12.6M	50x	as long as short
Reya LTCRUSDPERP	+0.0338%	1h	60.795	−0.049%	$8K	—	25x	as long as short
Coinbase International LTC-PERP-INTX	+0.0680%	1h	60.800	−0.041%	$1.1M	$2.5M	50x	as long as short