Funding arb · Price arb /

LTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0236%/8h= −25.9% APRpaid last 24h −0.148%

Price spread now: Phemex against dYdX+0.067%7-day average +0.043% · you sell dearer than you buy

Net, funding: paid 7d − costs−$170as in the Funding arb table

Net, price: spread back to 7d avg − costs−$85as in the Price arb table

costs, in and out, $10k−$870.875% of the position

Long on dYdX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.824%−$82 on $10k

Price spread, last 4 days (all we have)−0.002%$0 · spread now +0.067%, 7d avg +0.043%

Together, before fees−0.826%−$83 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phemex is 0.024% dearer against dYdX than usual: you sell high and buy low (spread +0.067% now, against its 7-day average of +0.043%): +$2 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 8 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX LTC-USD	60.979	0.0336	pay 0.0042% / 1h	19m 51s	$429K	$7K	10x
Short	Phemex LTCUSDT	61.020	0.0100	get 0.0100% / 8h	2h 19m	$21.6M	$9.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against dYdX. 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 dYdXbpFee PhemexbpOrdersPrice spread, now +0.067%Rate

Funding earned: −$49.6
Price spread: +0.067% → +0.043%: $2.38
Slippage, 4 orders: −$65.47
Fee dYdX: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$134.68
Costs to cover: 0.875%
Break-even: never at this rate

Slippage from dYdX: live order book, 29 min ago; Phemex: live order book, 4 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 dYdX live order book, 29 min ago	13.94 bp	18.9 bp −$19	35.5 bp −$355	38.3 bp −$3,831	75.1 bp −$37.6K
Sell Phemex live order book, 4 min ago	1.65 bp	11.8 bp −$12	20.9 bp −$209	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	−0.0145%	1h	60.954	−0.041%	$87K	$666K	10x	as long as short
GMX LTC/USD [ETH-USDC]	L −0.0049% / S +0.0184%	1h	61.005	+0.042%	$76K	—	200x	as long as short
Kalshi KXLTCPERP	0.0000%	8h	60.986	+0.011%	$334K	$4.3M	4x	as long as short
gTrade (Gains Network) LTC/USD	L +0.0002% / S −0.0002%	1h	61.004	+0.041%	$25K	—	150x	as long as short
Kraken Futures PF_LTCUSD	+0.0012%	1h	61.019	+0.066%	$6.6M	$6.5M	50x	as long as short
Variational Omni LTC	+0.0028%	8h	60.814	−0.270%	$3.6M	$2.6M	—	as long as short
Injective LTC/USDC PERP	+0.0033%	1h	58.730	−3.688%	$5K	$22K	12x	as long as short
Lighter LTC	+0.0096%	1h	61.028	+0.080%	$937K	$1.7M	10x	as long as short
Orderly PERP_LTC_USDC	+0.0099%	8h	60.990	+0.018%	$13K	$135K	20x	as long as short
Paradex LTC-USD-PERP	+0.0100%	8h	61.011	+0.052%	$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	60.980	+0.002%	$265K	$334K	10x	as long as short
Aster LTCUSDT	+0.0100%	8h	61.022	+0.071%	$2.6M	$2.5M	75x	as long as short
Pacifica LTC	+0.0100%	1h	61.007	+0.045%	$533K	$83K	10x	as long as short
Binance LTCUSDT	+0.0100%	8h	61.018	+0.064%	$89.6M	$233.6M	75x	as long as short
Bybit LTCUSDT	+0.0100%	8h	61.000	+0.034%	$77.2M	$61.6M	75x	as long as short
OKX LTC-USDT-SWAP	+0.0100%	8h	61.000	+0.034%	$26.9M	$76.5M	50x	as long as short
Gate LTC_USDT	+0.0100%	8h	61.010	+0.051%	$13.3M	$22.2M	75x	as long as short
MEXC LTC_USDT	+0.0100%	8h	61.010	+0.051%	$56.4M	$36.2M	200x	as long as short
KuCoin LTCUSDTM	+0.0100%	8h	61.020	+0.067%	$18.0M	$13.1M	75x	as long as short
Bitget LTCUSDT	+0.0100%	8h	61.010	+0.051%	$31.3M	$22.8M	75x	as long as short
BingX LTC-USDC	+0.0100%	8h	61.010	+0.051%	—	$6.5M	—	as long as short
Backpack LTC_USDC_PERP	+0.0100%	1h	61.013	+0.056%	$146K	$270K	10x	as long as short
edgeX LTCUSDC	+0.0100%	4h	60.581	−0.652%	$41K	$375K	20x	as long as short
GRVT LTC_USDT_Perp	+0.0100%	8h	60.619	−0.590%	$341K	$2.0M	10x	as long as short
ApeX Omni LTCUSDT	+0.0100%	1h	60.580	−0.654%	$106K	$715K	50x	as long as short
SunX LTC-USDT	+0.0100%	8h	61.110	+0.215%	$17K	$3.9M	30x	as long as short
SoDEX LTC-USD	+0.0100%	1h	61.000	+0.034%	$163	$5K	10x	as long as short
HTX LTC-USDT	+0.0100%	8h	60.970	−0.015%	$2.0M	$5.0M	75x	as long as short
Phemex LTCUSDTshort	+0.0100%	8h	61.020	+0.067%	$21.6M	$9.0M	50x
Extended LTC-USD	+0.0104%	1h	60.985	+0.009%	$675K	$1.1M	25x	as long as short
Aevo LTC-PERP	+0.0104%	1h	61.011	+0.053%	$466K	—	3x	as long as short
Deribit LTC_USDC-PERPETUAL	+0.0192%	1h	61.047	+0.111%	$690K	$1.1M	50x	as long as short
BloFin LTC-USDT	+0.0220%	8h	60.830	−0.244%	$4.2M	$12.4M	50x	as long as short
Hyperliquid LTC	+0.0248%	1h	61.086	+0.175%	$38.2M	$26.2M	10x	as long as short
dYdX LTC-USDlong	+0.0336%	1h	60.979	long leg	$429K	$7K	10x
Reya LTCRUSDPERP	+0.0337%	1h	60.971	−0.014%	$8K	—	25x	as long as short
Coinbase International LTC-PERP-INTX	+0.0728%	1h	60.680	−0.490%	$1.1M	$2.5M	50x	as long as short