Funding arb · Price arb /

LTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0174%/8h= +19.0% APRnext payment +$0.22 per $10,000 · paid last 24h —

Price spread now: Phoenix against Kraken Futures−0.121%71s7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Kraken Futures Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 hours (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Phoenix is 0.121% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.121% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$12 on $10k: about 2.3 days of funding at the current rate (+$5 a day). The two prices were read 71 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_LTCUSD	62.546	−0.0084	get 0.0011% / 1h	32m 23s	$6.8M	$5.7M	50x
Short	Phoenix LTC	62.470	0.0090	get 0.0011% / 1h	32m 23s	$2K	$6K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Kraken Futures. 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 Kraken FuturesbpFee PhoenixbpOrdersPrice spread, now −0.121%Rate

Funding earned: $36.52
Price spread: −0.121% → 0.000%: −$12.13
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $7.4
Costs to cover: 0.170%
Break-even: 5.6 days

Slippage unknown: Kraken Futures: live order book, 5 min ago; Phoenix: no order-book sample. Net counts fees only.

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 Kraken Futures live order book, 5 min ago	3.20 bp	13.6 bp −$14	18.9 bp −$189	60.8 bp −$6,085	doesn't fit
Sell Phoenix no order-book sample	—	—	—	—	—

Phoenix: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

LTC on 38 exchanges

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
Injective LTC/USDC PERP	−0.0121%	1h	62.390	−0.249%	$5K	$140K	12x	as long as short
Kraken Futures PF_LTCUSDlong	−0.0084%	1h	62.546	long leg	$6.8M	$5.7M	50x
Variational Omni LTC	−0.0030%	8h	62.397	−0.238%	$3.8M	$885K	—	as long as short
Kalshi KXLTCPERP	0.0000%	8h	62.476	−0.112%	$427K	$4.2M	4x	as long as short
gTrade (Gains Network) LTC/USD	L +0.0002% / S −0.0003%	1h	62.516	−0.047%	$14K	—	150x	as long as short
GMX LTC/USD [ETH-USDC]	L +0.0034% / S +0.0221%	1h	62.513	−0.053%	$134K	—	200x	as long as short
Backpack LTC_USDC_PERP	+0.0063%	1h	62.391	−0.248%	$144K	$377K	10x	as long as short
Phoenix LTCshort	+0.0090%	1h	62.470	−0.121%	$2K	$6K	10x
Lighter LTC	+0.0096%	1h	62.563	+0.027%	$1.3M	$1.3M	10x	as long as short
Orderly PERP_LTC_USDC	+0.0098%	8h	62.510	−0.057%	$12K	$50K	20x	as long as short

Show all 38 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex LTC-USD-PERP	+0.0100%	8h	62.405	−0.225%	$22K	$13K	20x	as long as short
Nado LTC-PERP	+0.0100%	1h	62.440	−0.169%	$256K	$240K	10x	as long as short
Hyperliquid LTC	+0.0100%	1h	62.522	−0.038%	$39.4M	$22.3M	10x	as long as short
Aster LTCUSDT	+0.0100%	8h	62.520	−0.041%	$2.5M	$1.3M	75x	as long as short
Pacifica LTC	+0.0100%	1h	62.393	−0.244%	$545K	$20K	10x	as long as short
Binance LTCUSDT	+0.0100%	8h	62.500	−0.073%	$98.0M	$187.9M	75x	as long as short
Bybit LTCUSDT	+0.0100%	8h	62.470	−0.121%	$83.2M	$50.9M	75x	as long as short
OKX LTC-USDT-SWAP	+0.0100%	8h	62.480	−0.105%	$28.5M	$67.3M	50x	as long as short
Gate LTC_USDT	+0.0100%	8h	62.490	−0.089%	$20.5M	$18.0M	75x	as long as short
MEXC LTC_USDT	+0.0100%	8h	62.490	−0.089%	$79.3M	$35.4M	200x	as long as short
KuCoin LTCUSDTM	+0.0100%	8h	62.470	−0.121%	$20.8M	$9.9M	75x	as long as short
Bitget LTCUSDT	+0.0100%	8h	62.480	−0.105%	$30.8M	$18.7M	75x	as long as short
BingX LTC-USDT	+0.0100%	8h	62.480	−0.105%	—	$18.3M	—	as long as short
edgeX LTCUSDC	+0.0100%	4h	62.441	−0.168%	$41K	$440K	20x	as long as short
GRVT LTC_USDT_Perp	+0.0100%	8h	62.449	−0.155%	$345K	$2.3M	10x	as long as short
ApeX Omni LTCUSDT	+0.0100%	1h	62.470	−0.121%	$91K	$700K	50x	as long as short
Polymarket Perps LTC-USD	+0.0100%	1h	62.432	−0.182%	$60K	$564K	10x	as long as short
SunX LTC-USDT	+0.0100%	8h	62.510	−0.057%	$18K	$1.9M	30x	as long as short
SoDEX LTC-USD	+0.0100%	1h	62.480	−0.105%	$167	$6K	10x	as long as short
HTX LTC-USDT	+0.0100%	8h	62.470	−0.121%	$2.0M	$4.4M	75x	as long as short
Phemex LTCUSDT	+0.0100%	8h	62.530	−0.025%	$21.6M	$8.4M	50x	as long as short
Deribit LTC_USDC-PERPETUAL	+0.0102%	1h	62.555	+0.015%	$720K	$405K	50x	as long as short
Extended LTC-USD	+0.0104%	1h	62.460	−0.136%	$717K	$342K	25x	as long as short
Aevo LTC-PERP	+0.0104%	1h	62.491	−0.087%	$477K	—	3x	as long as short
Coinbase International LTC-PERP-INTX	+0.0104%	1h	62.470	−0.121%	$855K	$2.7M	50x	as long as short
BloFin LTC-USDT	+0.0220%	8h	62.380	−0.265%	$4.8M	$8.4M	50x	as long as short
Reya LTCRUSDPERP	+0.0344%	1h	62.468	−0.125%	$8K	$403	25x	as long as short
dYdX LTC-USD	+0.0770%	1h	62.432	−0.182%	$439K	$1K	10x	as long as short