Funding arb · Price arb /

LTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0748%/8h= +81.9% APRpaid last 24h +0.161%

Price spread now: Coinbase International against Phemex+0.115%7-day average +0.075% · you sell dearer than you buy

Net, funding: paid 7d − costs$0as in the Funding arb table

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$420.425% of the position

Long on Phemex Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.426%+$43 on $10k

Price spread, last 4 days (all we have)−0.159%−$16 · spread now +0.115%, 7d avg +0.075%

Together, before fees+0.267%+$27 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$22 a day on $10k at the current rate, and Coinbase International is 0.040% dearer against Phemex than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.075%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.426% in total (about 22.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex LTCUSDT	60.960	0.0100	pay 0.0100% / 8h	4h 01m	$21.6M	$8.9M	50x
Short	Coinbase International LTC-PERP-INTX	61.030	0.0848	get 0.0106% / 1h	1m 40s	$1.1M	$2.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Phemex. 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 PhemexbpFee Coinbase InternationalbpOrdersPrice spread, now +0.115%Rate

Funding earned: $157.08
Price spread: +0.115% → +0.075%: $4
Slippage, 4 orders: −$20.49
Fee Phemex: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $118.59
Costs to cover: 0.425%
Break-even: 1.7 days

Slippage from Phemex: live order book, 2 min ago; Coinbase International: live order book, 2 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 Phemex live order book, 2 min ago	1.64 bp	8.2 bp −$8	18.3 bp −$183	doesn't fit	doesn't fit
Sell Coinbase International live order book, 2 min ago	2.46 bp	12.3 bp −$12	17.0 bp −$170	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 −0.0337% / S +0.0436%	1h	60.936	−0.040%	$110K	—	200x	as long as short
Polymarket Perps LTC-USD	−0.0246%	1h	60.867	−0.153%	$142K	$461K	10x	as long as short
Kalshi KXLTCPERP	0.0000%	8h	60.988	+0.046%	$347K	$4.4M	4x	as long as short
gTrade (Gains Network) LTC/USD	L +0.0002% / S −0.0003%	1h	60.934	−0.042%	$30K	—	150x	as long as short
Variational Omni LTC	+0.0026%	8h	60.624	−0.551%	$3.6M	$2.6M	—	as long as short
Injective LTC/USDC PERP	+0.0033%	1h	58.730	−3.658%	$5K	$22K	12x	as long as short
Deribit LTC_USDC-PERPETUAL	+0.0095%	1h	60.978	+0.030%	$691K	$1.1M	50x	as long as short
Lighter LTC	+0.0096%	1h	61.010	+0.082%	$940K	$1.6M	10x	as long as short
Orderly PERP_LTC_USDC	+0.0100%	8h	60.950	−0.016%	$13K	$151K	20x	as long as short
Paradex LTC-USD-PERP	+0.0100%	8h	61.002	+0.069%	$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	60.935	−0.041%	$268K	$333K	10x	as long as short
Hyperliquid LTC	+0.0100%	1h	61.045	+0.139%	$37.3M	$25.5M	10x	as long as short
Aster LTCUSDT	+0.0100%	8h	60.961	+0.002%	$2.6M	$2.6M	75x	as long as short
Pacifica LTC	+0.0100%	1h	61.012	+0.085%	$533K	$83K	10x	as long as short
Binance LTCUSDT	+0.0100%	8h	61.004	+0.072%	$90.5M	$230.2M	75x	as long as short
Bybit LTCUSDT	+0.0100%	8h	61.010	+0.082%	$77.9M	$61.5M	75x	as long as short
OKX LTC-USDT-SWAP	+0.0100%	8h	61.010	+0.082%	$27.0M	$76.0M	50x	as long as short
Gate LTC_USDT	+0.0100%	8h	61.000	+0.066%	$12.6M	$22.0M	75x	as long as short
MEXC LTC_USDT	+0.0100%	8h	61.000	+0.066%	$57.9M	$35.6M	200x	as long as short
KuCoin LTCUSDTM	+0.0100%	8h	60.990	+0.049%	$18.2M	$13.0M	75x	as long as short
Bitget LTCUSDT	+0.0100%	8h	61.010	+0.082%	$32.2M	$22.5M	75x	as long as short
BingX LTC-USDT	+0.0100%	8h	61.010	+0.082%	—	$38.4M	—	as long as short
Backpack LTC_USDC_PERP	+0.0100%	1h	60.938	−0.036%	$153K	$276K	10x	as long as short
edgeX LTCUSDC	+0.0100%	4h	60.624	−0.552%	$41K	$375K	20x	as long as short
GRVT LTC_USDT_Perp	+0.0100%	8h	60.688	−0.446%	$338K	$2.0M	10x	as long as short
ApeX Omni LTCUSDT	+0.0100%	1h	60.670	−0.476%	$106K	$717K	50x	as long as short
SunX LTC-USDT	+0.0100%	8h	60.980	+0.033%	$17K	$3.9M	30x	as long as short
SoDEX LTC-USD	+0.0100%	1h	60.940	−0.033%	$163	$5K	10x	as long as short
HTX LTC-USDT	+0.0100%	8h	60.860	−0.164%	$2.0M	$5.0M	75x	as long as short
Phemex LTCUSDTlong	+0.0100%	8h	60.960	long leg	$21.6M	$8.9M	50x
Extended LTC-USD	+0.0104%	1h	60.990	+0.049%	$675K	$1.1M	25x	as long as short
Aevo LTC-PERP	+0.0104%	1h	60.932	−0.045%	$465K	—	3x	as long as short
BloFin LTC-USDT	+0.0220%	8h	60.900	−0.098%	$4.7M	$12.3M	50x	as long as short
Kraken Futures PF_LTCUSD	+0.0294%	1h	60.970	+0.016%	$6.7M	$6.3M	50x	as long as short
dYdX LTC-USD	+0.0297%	1h	61.008	+0.079%	$429K	$8K	10x	as long as short
Reya LTCRUSDPERP	+0.0337%	1h	60.921	−0.065%	$8K	—	25x	as long as short
Coinbase International LTC-PERP-INTXshort	+0.0848%	1h	61.030	+0.115%	$1.1M	$2.3M	50x