Funding arb · Price arb /

LTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.005%

Price spread now: Backpack against OKX−0.031%7-day average −0.004% · you buy dearer than you sell

Net, funding: paid 7d − costs−$30as in the Funding arb table

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$260.262% of the position

Long on OKX Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.042%−$4 on $10k

Price spread, last 4 days (all we have)−0.139%−$14 · spread now −0.031%, 7d avg −0.004%

Together, before fees−0.181%−$18 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 0.027% cheaper against OKX than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.004%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX LTC-USDT-SWAP	61.070	0.0100	pay 0.0100% / 8h	5h 18m	$26.9M	$74.3M	50x
Short	Backpack LTC_USDC_PERP	61.051	0.0100	get 0.0013% / 1h	18m 54s	$154K	$277K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against OKX. 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 OKXbpFee BackpackbpOrdersPrice spread, now −0.031%Rate

Funding earned: $0
Price spread: −0.031% → −0.004%: −$2.71
Slippage, 4 orders: −$6.22
Fee OKX: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$28.92
Costs to cover: 0.262%
Break-even: never at this rate

Slippage from OKX: live order book, 5 min ago; Backpack: live order book, 44 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 OKX live order book, 5 min ago	0.82 bp	6.8 bp −$7	12.2 bp −$122	63.3 bp −$6,327	doesn't fit
Sell Backpack live order book, 44 min ago	0.08 bp	5.8 bp −$6	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
GMX LTC/USD [ETH-USDC]	L −0.0277% / S +0.0404%	1h	61.090	+0.032%	$111K	—	200x	as long as short
Polymarket Perps LTC-USD	−0.0136%	1h	61.012	−0.095%	$80K	$390K	10x	as long as short
Kalshi KXLTCPERP	0.0000%	8h	61.087	+0.028%	$318K	$4.3M	4x	as long as short
Deribit LTC_USDC-PERPETUAL	0.0000%	1h	61.102	+0.052%	$693K	$1.1M	50x	as long as short
gTrade (Gains Network) LTC/USD	L +0.0002% / S −0.0003%	1h	61.095	+0.040%	$30K	—	150x	as long as short
Variational Omni LTC	+0.0010%	8h	61.074	+0.006%	$3.6M	$2.6M	—	as long as short
Injective LTC/USDC PERP	+0.0033%	1h	58.730	−3.832%	$5K	$22K	12x	as long as short
Lighter LTC	+0.0096%	1h	61.139	+0.113%	$1.3M	$1.2M	10x	as long as short
Orderly PERP_LTC_USDC	+0.0099%	8h	61.040	−0.049%	$13K	$210K	20x	as long as short
Paradex LTC-USD-PERP	+0.0100%	8h	61.054	−0.026%	$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	61.045	−0.041%	$266K	$326K	10x	as long as short
Hyperliquid LTC	+0.0100%	1h	61.127	+0.093%	$37.2M	$24.6M	10x	as long as short
Aster LTCUSDT	+0.0100%	8h	61.094	+0.039%	$2.6M	$2.5M	75x	as long as short
Pacifica LTC	+0.0100%	1h	61.059	−0.019%	$534K	$83K	10x	as long as short
Binance LTCUSDT	+0.0100%	8h	61.070	0.000%	$91.4M	$225.4M	75x	as long as short
Bybit LTCUSDT	+0.0100%	8h	61.060	−0.016%	$77.6M	$58.7M	75x	as long as short
OKX LTC-USDT-SWAPlong	+0.0100%	8h	61.070	long leg	$26.9M	$74.3M	50x
Gate LTC_USDT	+0.0100%	8h	61.080	+0.016%	$12.7M	$21.3M	75x	as long as short
MEXC LTC_USDT	+0.0100%	8h	61.060	−0.016%	$58.2M	$34.9M	200x	as long as short
KuCoin LTCUSDTM	+0.0100%	8h	61.080	+0.016%	$18.4M	$12.8M	75x	as long as short
Bitget LTCUSDT	+0.0100%	8h	61.080	+0.016%	$32.7M	$22.3M	75x	as long as short
BingX LTC-USDC	+0.0100%	8h	61.080	+0.016%	—	$6.5M	—	as long as short
Backpack LTC_USDC_PERPshort	+0.0100%	1h	61.051	−0.031%	$154K	$277K	10x
edgeX LTCUSDC	+0.0100%	4h	61.062	−0.014%	$41K	$374K	20x	as long as short
GRVT LTC_USDT_Perp	+0.0100%	8h	61.002	−0.111%	$345K	$1.9M	10x	as long as short
ApeX Omni LTCUSDT	+0.0100%	1h	61.090	+0.033%	$102K	$717K	50x	as long as short
SunX LTC-USDT	+0.0100%	8h	61.140	+0.115%	$17K	$3.9M	30x	as long as short
SoDEX LTC-USD	+0.0100%	1h	61.070	0.000%	$164	$5K	10x	as long as short
HTX LTC-USDT	+0.0100%	8h	61.050	−0.033%	$2.0M	$4.8M	75x	as long as short
Phemex LTCUSDT	+0.0100%	8h	61.090	+0.033%	$21.7M	$8.8M	50x	as long as short
Extended LTC-USD	+0.0104%	1h	61.049	−0.034%	$675K	$1.1M	25x	as long as short
Aevo LTC-PERP	+0.0104%	1h	61.055	−0.025%	$466K	—	3x	as long as short
dYdX LTC-USD	+0.0210%	1h	61.048	−0.036%	$429K	$8K	10x	as long as short
BloFin LTC-USDT	+0.0220%	8h	61.020	−0.082%	$4.7M	$12.3M	50x	as long as short
Reya LTCRUSDPERP	+0.0336%	1h	61.064	−0.010%	$8K	—	25x	as long as short
Kraken Futures PF_LTCUSD	+0.0348%	1h	61.095	+0.041%	$6.8M	$6.1M	50x	as long as short
Coinbase International LTC-PERP-INTX	+0.0832%	1h	61.260	+0.311%	$1.1M	$2.3M	50x	as long as short