Funding arb · Price arb /

LTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h +0.009%

Price spread now: Deribit against Phemex+0.002%7-day average −0.007% · you sell dearer than you buy

Net, funding: paid 7d − costs−$52as in the Funding arb table

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

costs, in and out, $10k−$380.378% of the position

Long on Phemex Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.140%−$14 on $10k

Price spread, last 4 days (all we have)−0.025%−$2 · spread now +0.002%, 7d avg −0.007%

Together, before fees−0.165%−$16 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.007%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex LTCUSDT	60.620	0.0100	pay 0.0100% / 8h	2h 22m	$21.5M	$9.0M	50x
Short	Deribit LTC_USDC-PERPETUAL	60.621	0	get 0.0000% / 1h	22m 33s	$685K	$1.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.002%Rate

Funding earned: −$21
Price spread: +0.002% → −0.007%: $0.88
Slippage, 4 orders: −$18.82
Fee Phemex: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$57.94
Costs to cover: 0.378%
Break-even: never at this rate

Slippage from Phemex: live order book, 6 min ago; Deribit: live order book, 1 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, 6 min ago	0.83 bp	11.4 bp −$11	20.1 bp −$201	doesn't fit	doesn't fit
Sell Deribit live order book, 1 min ago	3.30 bp	7.8 bp −$8	13.9 bp −$139	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 −0.0229% / S +0.0381%	1h	60.587	−0.054%	$96K	—	200x	as long as short
Polymarket Perps LTC-USD	−0.0147%	1h	60.555	−0.107%	$88K	$659K	10x	as long as short
Kalshi KXLTCPERP	0.0000%	8h	60.623	+0.005%	$332K	$4.3M	4x	as long as short
Deribit LTC_USDC-PERPETUALshort	0.0000%	1h	60.621	+0.002%	$685K	$1.1M	50x
gTrade (Gains Network) LTC/USD	L +0.0002% / S −0.0002%	1h	60.594	−0.043%	$25K	—	150x	as long as short
Kraken Futures PF_LTCUSD	+0.0012%	1h	60.607	−0.021%	$6.6M	$6.5M	50x	as long as short
Variational Omni LTC	+0.0028%	8h	60.405	−0.355%	$3.5M	$2.6M	—	as long as short
Injective LTC/USDC PERP	+0.0033%	1h	58.730	−3.118%	$5K	$22K	12x	as long as short
Lighter LTC	+0.0096%	1h	60.701	+0.134%	$932K	$1.7M	10x	as long as short
Orderly PERP_LTC_USDC	+0.0099%	8h	60.590	−0.049%	$13K	$136K	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	60.669	+0.082%	$14K	$10K	20x	as long as short
Nado LTC-PERP	+0.0100%	1h	60.595	−0.041%	$264K	$333K	10x	as long as short
Aster LTCUSDT	+0.0100%	8h	60.734	+0.188%	$2.5M	$2.5M	75x	as long as short
Pacifica LTC	+0.0100%	1h	60.683	+0.103%	$530K	$83K	10x	as long as short
Binance LTCUSDT	+0.0100%	8h	60.740	+0.198%	$89.2M	$233.4M	75x	as long as short
Bybit LTCUSDT	+0.0100%	8h	60.730	+0.181%	$76.9M	$61.6M	75x	as long as short
OKX LTC-USDT-SWAP	+0.0100%	8h	60.750	+0.214%	$26.8M	$76.2M	50x	as long as short
Gate LTC_USDT	+0.0100%	8h	60.710	+0.148%	$13.2M	$22.2M	75x	as long as short
MEXC LTC_USDT	+0.0100%	8h	60.710	+0.148%	$56.1M	$36.2M	200x	as long as short
KuCoin LTCUSDTM	+0.0100%	8h	60.730	+0.181%	$17.9M	$13.1M	75x	as long as short
Bitget LTCUSDT	+0.0100%	8h	60.720	+0.165%	$31.1M	$22.8M	75x	as long as short
BingX LTC-USDC	+0.0100%	8h	60.720	+0.165%	—	$6.5M	—	as long as short
Backpack LTC_USDC_PERP	+0.0100%	1h	60.610	−0.016%	$145K	$270K	10x	as long as short
edgeX LTCUSDC	+0.0100%	4h	60.404	−0.357%	$41K	$374K	20x	as long as short
GRVT LTC_USDT_Perp	+0.0100%	8h	60.617	−0.005%	$341K	$2.0M	10x	as long as short
ApeX Omni LTCUSDT	+0.0100%	1h	60.420	−0.330%	$106K	$715K	50x	as long as short
SunX LTC-USDT	+0.0100%	8h	60.660	+0.066%	$17K	$3.9M	30x	as long as short
SoDEX LTC-USD	+0.0100%	1h	60.580	−0.066%	$162	$5K	10x	as long as short
HTX LTC-USDT	+0.0100%	8h	60.570	−0.082%	$2.0M	$5.0M	75x	as long as short
Phemex LTCUSDTlong	+0.0100%	8h	60.620	long leg	$21.5M	$9.0M	50x
Extended LTC-USD	+0.0104%	1h	60.694	+0.121%	$672K	$1.1M	25x	as long as short
Aevo LTC-PERP	+0.0104%	1h	60.588	−0.052%	$463K	—	3x	as long as short
BloFin LTC-USDT	+0.0220%	8h	60.620	0.000%	$4.1M	$12.4M	50x	as long as short
Hyperliquid LTC	+0.0238%	1h	60.737	+0.193%	$38.0M	$26.2M	10x	as long as short
Reya LTCRUSDPERP	+0.0337%	1h	60.566	−0.090%	$8K	—	25x	as long as short
dYdX LTC-USD	+0.0364%	1h	60.688	+0.112%	$427K	$7K	10x	as long as short
Coinbase International LTC-PERP-INTX	+0.0728%	1h	60.670	+0.082%	$1.1M	$2.5M	50x	as long as short