Funding arb · Price arb /

LTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.005%

Price spread now: Backpack against Orderly−0.032%46s7-day average −0.005% · you buy dearer than you sell

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

Long on Orderly Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.014%+$1 on $10k

Price spread, last 3 days (all we have)+0.025%+$3 · spread now −0.032%, 7d avg −0.005%

Together, before fees+0.040%+$4 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 0.028% cheaper against Orderly than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.005%. The two prices were read 46 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	Orderly PERP_LTC_USDC	61.560	0.0100	pay 0.0100% / 8h	1h 15m	$12K	$213K	20x
Short	Backpack LTC_USDC_PERP	61.540	0.0100	get 0.0013% / 1h	15m 16s	$158K	$265K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Orderly. 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 OrderlybpFee BackpackbpOrdersPrice spread, now −0.032%Rate

Funding earned: $0.09
Price spread: −0.032% → −0.005%: −$2.79
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$18.7
Costs to cover: 0.160%
Break-even: 1491.2 days

Slippage unknown: Orderly: no order-book sample; Backpack: live order book, 3 min ago. 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 Orderly no order-book sample	—	—	—	—	—
Sell Backpack live order book, 3 min ago	0.08 bp	7.2 bp −$7	doesn't fit	doesn't fit	doesn't fit

Orderly: 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 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 −0.0074% / S +0.0277%	1h	61.556	−0.006%	$112K	—	200x	as long as short
Variational Omni LTC	−0.0062%	8h	61.507	−0.086%	$3.6M	$4.0M	—	as long as short
Kalshi KXLTCPERP	0.0000%	8h	61.568	+0.013%	$339K	$4.1M	4x	as long as short
gTrade (Gains Network) LTC/USD	L +0.0002% / S −0.0003%	1h	61.558	−0.004%	$30K	—	150x	as long as short
Injective LTC/USDC PERP	+0.0033%	1h	58.730	−4.597%	$5K	$22K	12x	as long as short
Gate LTC_USDT	+0.0045%	8h	61.560	0.000%	$12.9M	$21.2M	75x	as long as short
Polymarket Perps LTC-USD	+0.0072%	1h	61.522	−0.062%	$85K	$378K	10x	as long as short
Kraken Futures PF_LTCUSD	+0.0087%	1h	61.621	+0.099%	$6.8M	$5.8M	50x	as long as short
Orderly PERP_LTC_USDClong	+0.0100%	8h	61.560	long leg	$12K	$213K	20x
Paradex LTC-USD-PERP	+0.0100%	8h	61.536	−0.039%	$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	61.545	−0.024%	$253K	$321K	10x	as long as short
Hyperliquid LTC	+0.0100%	1h	61.598	+0.062%	$37.4M	$23.8M	10x	as long as short
Aster LTCUSDT	+0.0100%	8h	61.619	+0.095%	$2.6M	$2.2M	75x	as long as short
Pacifica LTC	+0.0100%	1h	61.560	+0.001%	$539K	$84K	10x	as long as short
Binance LTCUSDT	+0.0100%	8h	61.594	+0.056%	$95.4M	$222.4M	75x	as long as short
Bybit LTCUSDT	+0.0100%	8h	61.570	+0.016%	$78.1M	$59.7M	75x	as long as short
OKX LTC-USDT-SWAP	+0.0100%	8h	61.590	+0.049%	$27.5M	$74.7M	50x	as long as short
MEXC LTC_USDT	+0.0100%	8h	61.560	0.000%	$61.7M	$34.8M	200x	as long as short
KuCoin LTCUSDTM	+0.0100%	8h	61.570	+0.016%	$19.0M	$12.6M	75x	as long as short
Bitget LTCUSDT	+0.0100%	8h	61.550	−0.016%	$31.9M	$22.0M	75x	as long as short
BingX LTC-USDT	+0.0100%	8h	61.550	−0.016%	—	$37.5M	—	as long as short
Backpack LTC_USDC_PERPshort	+0.0100%	1h	61.540	−0.032%	$158K	$265K	10x
edgeX LTCUSDC	+0.0100%	4h	61.529	−0.051%	$42K	$357K	20x	as long as short
GRVT LTC_USDT_Perp	+0.0100%	8h	61.530	−0.049%	$351K	$2.0M	10x	as long as short
ApeX Omni LTCUSDT	+0.0100%	1h	61.550	−0.016%	$103K	$708K	50x	as long as short
SunX LTC-USDT	+0.0100%	8h	61.630	+0.114%	$17K	$4.2M	30x	as long as short
SoDEX LTC-USD	+0.0100%	1h	61.580	+0.032%	$634	$5K	10x	as long as short
HTX LTC-USDT	+0.0100%	8h	61.540	−0.032%	$1.9M	$4.8M	75x	as long as short
Phemex LTCUSDT	+0.0100%	8h	61.590	+0.049%	$22.0M	$9.1M	50x	as long as short
Lighter LTC	+0.0104%	1h	61.658	+0.159%	$1.3M	$1.2M	10x	as long as short
Extended LTC-USD	+0.0104%	1h	61.542	−0.029%	$685K	$1.1M	25x	as long as short
Aevo LTC-PERP	+0.0104%	1h	61.566	+0.010%	$470K	$499	3x	as long as short
BloFin LTC-USDT	+0.0220%	8h	61.560	0.000%	$4.8M	$11.7M	50x	as long as short
Deribit LTC_USDC-PERPETUAL	+0.0254%	1h	61.593	+0.054%	$694K	$1.1M	50x	as long as short
Reya LTCRUSDPERP	+0.0334%	1h	61.552	−0.013%	$8K	—	25x	as long as short
Coinbase International LTC-PERP-INTX	+0.0760%	1h	61.780	+0.357%	$1.2M	$2.2M	50x	as long as short
dYdX LTC-USD	+0.0960%	1h	61.549	−0.018%	$433K	$8K	10x	as long as short