Funding arb · Price arb /

LTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.061%

Price spread now: Hyperliquid against Phemex+0.136%7-day average +0.049% · you sell dearer than you buy

Net, funding: paid 7d − costs−$20as in the Funding arb table

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$340.336% of the position

Long on Phemex Short on Hyperliquid

What this pair did over the last

the charts below follow

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

Price spread, last 3 days (all we have)−0.068%−$7 · spread now +0.136%, 7d avg +0.049%

Together, before fees+0.072%+ Points / potential airdropHyperliquid: Season 2 · farm board+$7 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: Hyperliquid is 0.087% dearer against Phemex than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of +0.049%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex LTCUSDT	61.920	0.0100	pay 0.0100% / 8h	10m 51s	$22.2M	$9.2M	50x
Short	Hyperliquid LTC	62.004	0.0100	get 0.0013% / 1h	10m 51s	$37.6M	$23.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.136%Rate

Funding earned: $0
Price spread: +0.136% → +0.049%: $8.71
Slippage, 4 orders: −$12.65
Fee Phemex: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$24.93
Costs to cover: 0.336%
Break-even: never at this rate

Slippage from Phemex: live order book, 3 min ago; Hyperliquid: live order book, 12 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, 3 min ago	0.81 bp	10.4 bp −$10	17.7 bp −$177	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 12 min ago	0.40 bp	6.7 bp −$7	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 −0.0144% / S +0.0334%	1h	61.899	−0.033%	$122K	—	200x	as long as short
Variational Omni LTC	−0.0046%	8h	61.856	−0.103%	$3.6M	$4.0M	—	as long as short
Polymarket Perps LTC-USD	−0.0025%	1h	61.844	−0.123%	$85K	$378K	10x	as long as short
Kalshi KXLTCPERP	0.0000%	8h	61.958	+0.061%	$313K	$4.2M	4x	as long as short
Deribit LTC_USDC-PERPETUAL	0.0000%	1h	61.933	+0.021%	$700K	$1.1M	50x	as long as short
gTrade (Gains Network) LTC/USD	L +0.0002% / S −0.0003%	1h	61.909	−0.017%	$31K	—	150x	as long as short
Injective LTC/USDC PERP	+0.0033%	1h	58.730	−5.152%	$5K	$22K	12x	as long as short
Gate LTC_USDT	+0.0092%	8h	61.940	+0.032%	$13.0M	$21.4M	75x	as long as short
Lighter LTC	+0.0096%	1h	61.977	+0.092%	$1.3M	$1.2M	10x	as long as short
Orderly PERP_LTC_USDC	+0.0100%	8h	61.890	−0.048%	$12K	$213K	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	61.881	−0.063%	$14K	$10K	20x	as long as short
Nado LTC-PERP	+0.0100%	1h	61.885	−0.057%	$264K	$323K	10x	as long as short
Hyperliquid LTCshort	+0.0100%	1h	62.004	+0.136%	$37.6M	$23.8M	10x
Aster LTCUSDT	+0.0100%	8h	62.022	+0.165%	$2.7M	$2.3M	75x	as long as short
Pacifica LTC	+0.0100%	1h	61.917	−0.005%	$541K	$87K	10x	as long as short
Binance LTCUSDT	+0.0100%	8h	61.948	+0.046%	$95.9M	$223.4M	75x	as long as short
Bybit LTCUSDT	+0.0100%	8h	61.930	+0.016%	$78.6M	$59.6M	75x	as long as short
OKX LTC-USDT-SWAP	+0.0100%	8h	61.940	+0.032%	$27.6M	$75.3M	50x	as long as short
MEXC LTC_USDT	+0.0100%	8h	61.930	+0.016%	$61.5M	$34.3M	200x	as long as short
KuCoin LTCUSDTM	+0.0100%	8h	61.950	+0.048%	$19.1M	$12.6M	75x	as long as short
Bitget LTCUSDT	+0.0100%	8h	61.940	+0.032%	$32.2M	$22.0M	75x	as long as short
BingX LTC-USDC	+0.0100%	8h	61.940	+0.032%	—	$6.5M	—	as long as short
Backpack LTC_USDC_PERP	+0.0100%	1h	61.873	−0.076%	$159K	$266K	10x	as long as short
edgeX LTCUSDC	+0.0100%	4h	61.875	−0.073%	$42K	$355K	20x	as long as short
GRVT LTC_USDT_Perp	+0.0100%	8h	61.891	−0.046%	$350K	$2.0M	10x	as long as short
ApeX Omni LTCUSDT	+0.0100%	1h	61.910	−0.016%	$118K	$711K	50x	as long as short
SunX LTC-USDT	+0.0100%	8h	61.970	+0.081%	$18K	$4.1M	30x	as long as short
SoDEX LTC-USD	+0.0100%	1h	61.890	−0.048%	$637	$5K	10x	as long as short
HTX LTC-USDT	+0.0100%	8h	61.860	−0.097%	$1.9M	$4.8M	75x	as long as short
Phemex LTCUSDTlong	+0.0100%	8h	61.920	long leg	$22.2M	$9.2M	50x
Extended LTC-USD	+0.0104%	1h	61.923	+0.005%	$688K	$1.1M	25x	as long as short
Aevo LTC-PERP	+0.0104%	1h	61.889	−0.051%	$473K	$499	3x	as long as short
BloFin LTC-USDT	+0.0220%	8h	61.910	−0.016%	$4.8M	$11.8M	50x	as long as short
Reya LTCRUSDPERP	+0.0335%	1h	61.877	−0.070%	$8K	—	25x	as long as short
Kraken Futures PF_LTCUSD	+0.0433%	1h	61.922	+0.004%	$6.8M	$5.8M	50x	as long as short
dYdX LTC-USD	+0.0756%	1h	61.949	+0.048%	$435K	$8K	10x	as long as short
Coinbase International LTC-PERP-INTX	+0.0848%	1h	62.020	+0.161%	$1.2M	$2.3M	50x	as long as short