Funding arb · Price arb /

LTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.058%

Price spread now: Backpack against Hyperliquid−0.212%7-day average −0.124% · you buy dearer than you sell

Net, funding: paid 7d − costs−$51as in the Funding arb table

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$290.288% of the position

Long on Hyperliquid Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.223%−$22 on $10k

Price spread, last 4 days (all we have)−0.011%−$1 · spread now −0.212%, 7d avg −0.124%

Together, before fees−0.234%+ Points / potential airdropHyperliquid: Season 2 · farm board−$23 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Backpack is 0.087% cheaper against Hyperliquid than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of −0.124%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid LTC	61.414	0.0100	pay 0.0013% / 1h	53m 16s	$37.5M	$23.9M	10x
Short	Backpack LTC_USDC_PERP	61.284	0.0100	get 0.0013% / 1h	53m 16s	$157K	$282K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Hyperliquid. 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 HyperliquidbpFee BackpackbpOrdersPrice spread, now −0.212%Rate

Funding earned: $0
Price spread: −0.212% → −0.124%: −$8.74
Slippage, 4 orders: −$9.75
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$37.5
Costs to cover: 0.288%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 10 min ago; Backpack: live order book, 15 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 Hyperliquid live order book, 10 min ago	0.81 bp	5.3 bp −$5	doesn't fit	doesn't fit	doesn't fit
Sell Backpack live order book, 15 min ago	0.08 bp	10.7 bp −$11	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	−0.0374%	1h	61.326	−0.143%	$81K	$379K	10x	as long as short
GMX LTC/USD [ETH-USDC]	L −0.0201% / S +0.0348%	1h	61.403	−0.018%	$112K	—	200x	as long as short
Variational Omni LTC	−0.0039%	8h	61.056	−0.584%	$3.6M	$2.6M	—	as long as short
Kalshi KXLTCPERP	0.0000%	8h	61.377	−0.060%	$292K	$4.3M	4x	as long as short
gTrade (Gains Network) LTC/USD	L +0.0002% / S −0.0005%	1h	61.405	−0.015%	$20K	—	150x	as long as short
dYdX LTC-USD	+0.0030%	1h	61.312	−0.166%	$431K	$8K	10x	as long as short
Injective LTC/USDC PERP	+0.0033%	1h	58.730	−4.370%	$5K	$22K	12x	as long as short
Kraken Futures PF_LTCUSD	+0.0049%	1h	61.436	+0.035%	$6.8M	$5.9M	50x	as long as short
Lighter LTC	+0.0096%	1h	61.492	+0.127%	$1.3M	$1.2M	10x	as long as short
Orderly PERP_LTC_USDC	+0.0100%	8h	61.410	−0.007%	$13K	$213K	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	61.293	−0.197%	$14K	$10K	20x	as long as short
Nado LTC-PERP	+0.0100%	1h	61.315	−0.161%	$261K	$319K	10x	as long as short
Hyperliquid LTClong	+0.0100%	1h	61.414	long leg	$37.5M	$23.9M	10x
Aster LTCUSDT	+0.0100%	8h	61.428	+0.023%	$2.6M	$2.3M	75x	as long as short
Pacifica LTC	+0.0100%	1h	61.313	−0.164%	$536K	$86K	10x	as long as short
Binance LTCUSDT	+0.0100%	8h	61.441	+0.044%	$93.8M	$223.9M	75x	as long as short
Bybit LTCUSDT	+0.0100%	8h	61.420	+0.010%	$77.9M	$58.2M	75x	as long as short
OKX LTC-USDT-SWAP	+0.0100%	8h	61.460	+0.075%	$27.2M	$75.2M	50x	as long as short
Gate LTC_USDT	+0.0100%	8h	61.400	−0.023%	$12.9M	$20.4M	75x	as long as short
MEXC LTC_USDT	+0.0100%	8h	61.440	+0.042%	$61.2M	$34.1M	200x	as long as short
KuCoin LTCUSDTM	+0.0100%	8h	61.410	−0.007%	$18.6M	$12.9M	75x	as long as short
Bitget LTCUSDT	+0.0100%	8h	61.370	−0.072%	$31.7M	$22.1M	75x	as long as short
BingX LTC-USDC	+0.0100%	8h	61.390	−0.039%	—	$6.5M	—	as long as short
Backpack LTC_USDC_PERPshort	+0.0100%	1h	61.284	−0.212%	$157K	$282K	10x
edgeX LTCUSDC	+0.0100%	4h	61.489	+0.122%	$42K	$356K	20x	as long as short
GRVT LTC_USDT_Perp	+0.0100%	8h	61.170	−0.397%	$344K	$1.9M	10x	as long as short
ApeX Omni LTCUSDT	+0.0100%	1h	61.500	+0.140%	$105K	$714K	50x	as long as short
SunX LTC-USDT	+0.0100%	8h	61.510	+0.156%	$17K	$4.0M	30x	as long as short
SoDEX LTC-USD	+0.0100%	1h	61.400	−0.023%	$632	$5K	10x	as long as short
HTX LTC-USDT	+0.0100%	8h	61.340	−0.120%	$2.0M	$5.0M	75x	as long as short
Phemex LTCUSDT	+0.0100%	8h	61.440	+0.042%	$21.9M	$9.0M	50x	as long as short
Extended LTC-USD	+0.0104%	1h	61.370	−0.071%	$679K	$1.1M	25x	as long as short
Aevo LTC-PERP	+0.0104%	1h	61.400	−0.023%	$469K	—	3x	as long as short
BloFin LTC-USDT	+0.0220%	8h	61.450	+0.059%	$4.8M	$12.2M	50x	as long as short
Deribit LTC_USDC-PERPETUAL	+0.0304%	1h	61.440	+0.042%	$704K	$1.1M	50x	as long as short
Reya LTCRUSDPERP	+0.0335%	1h	61.376	−0.062%	$8K	—	25x	as long as short
Coinbase International LTC-PERP-INTX	+0.0808%	1h	61.360	−0.088%	$1.2M	$2.2M	50x	as long as short