Funding arb · Price arb /

LTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0333%/8h= +36.4% APRpaid last 24h +0.002%

Price spread now: Kraken Futures against Phemex+0.051%7-day average −0.029% · you sell dearer than you buy

Net, funding: paid 7d − costs−$45as in the Funding arb table

Net, price: spread back to 7d avg − costs−$39as in the Price arb table

costs, in and out, $10k−$470.470% of the position

Long on Phemex Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.022%+$2 on $10k

Price spread, last 3 days (all we have)−0.098%−$10 · spread now +0.051%, 7d avg −0.029%

Together, before fees−0.076%−$8 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and Kraken Futures is 0.080% dearer against Phemex than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of −0.029%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.022% in total (about 1.2% 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	62.010	0.0100	pay 0.0100% / 8h	48m 11s	$22.2M	$9.1M	50x
Short	Kraken Futures PF_LTCUSD	62.042	0.0433	get 0.0054% / 1h	48m 11s	$6.9M	$5.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.051%Rate

Funding earned: $69.86
Price spread: +0.051% → −0.029%: $7.99
Slippage, 4 orders: −$24.96
Fee Phemex: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $30.88
Costs to cover: 0.470%
Break-even: 3.9 days

Slippage from Phemex: live order book, 6 min ago; Kraken Futures: live order book, 6 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	3.23 bp	11.7 bp −$12	20.0 bp −$200	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 6 min ago	3.22 bp	11.2 bp −$11	15.7 bp −$157	73.5 bp −$7,350	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 −0.0095% / S +0.0289%	1h	62.004	−0.010%	$113K	—	200x	as long as short
Variational Omni LTC	−0.0047%	8h	62.027	+0.028%	$3.6M	$4.0M	—	as long as short
Kalshi KXLTCPERP	0.0000%	8h	62.048	+0.061%	$320K	$4.2M	4x	as long as short
gTrade (Gains Network) LTC/USD	L +0.0002% / S −0.0003%	1h	62.009	−0.002%	$31K	—	150x	as long as short
Injective LTC/USDC PERP	+0.0033%	1h	58.730	−5.289%	$5K	$22K	12x	as long as short
Gate LTC_USDT	+0.0079%	8h	62.000	−0.016%	$13.0M	$21.2M	75x	as long as short
Orderly PERP_LTC_USDC	+0.0100%	8h	62.020	+0.016%	$12K	$213K	20x	as long as short
Paradex LTC-USD-PERP	+0.0100%	8h	61.997	−0.022%	$14K	$10K	20x	as long as short
Nado LTC-PERP	+0.0100%	1h	62.005	−0.008%	$261K	$322K	10x	as long as short
Hyperliquid LTC	+0.0100%	1h	62.053	+0.069%	$37.6M	$23.8M	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster LTCUSDT	+0.0100%	8h	62.099	+0.143%	$2.7M	$2.3M	75x	as long as short
Pacifica LTC	+0.0100%	1h	62.065	+0.088%	$543K	$87K	10x	as long as short
Binance LTCUSDT	+0.0100%	8h	62.003	−0.011%	$96.0M	$223.0M	75x	as long as short
Bybit LTCUSDT	+0.0100%	8h	61.990	−0.032%	$78.6M	$59.6M	75x	as long as short
OKX LTC-USDT-SWAP	+0.0100%	8h	61.990	−0.032%	$27.7M	$75.4M	50x	as long as short
MEXC LTC_USDT	+0.0100%	8h	62.010	0.000%	$61.4M	$33.8M	200x	as long as short
KuCoin LTCUSDTM	+0.0100%	8h	62.020	+0.016%	$19.1M	$12.7M	75x	as long as short
Bitget LTCUSDT	+0.0100%	8h	62.000	−0.016%	$32.2M	$22.1M	75x	as long as short
BingX LTC-USDC	+0.0100%	8h	62.000	−0.016%	—	$6.5M	—	as long as short
Backpack LTC_USDC_PERP	+0.0100%	1h	61.982	−0.045%	$159K	$265K	10x	as long as short
edgeX LTCUSDC	+0.0100%	4h	62.054	+0.071%	$42K	$356K	20x	as long as short
GRVT LTC_USDT_Perp	+0.0100%	8h	62.067	+0.092%	$345K	$2.0M	10x	as long as short
ApeX Omni LTCUSDT	+0.0100%	1h	62.090	+0.129%	$104K	$708K	50x	as long as short
Polymarket Perps LTC-USD	+0.0100%	1h	61.970	−0.065%	$85K	$378K	10x	as long as short
SunX LTC-USDT	+0.0100%	8h	62.110	+0.161%	$18K	$4.2M	30x	as long as short
SoDEX LTC-USD	+0.0100%	1h	62.000	−0.016%	$639	$5K	10x	as long as short
HTX LTC-USDT	+0.0100%	8h	62.040	+0.048%	$1.9M	$4.8M	75x	as long as short
Phemex LTCUSDTlong	+0.0100%	8h	62.010	long leg	$22.2M	$9.1M	50x
Extended LTC-USD	+0.0104%	1h	61.989	−0.034%	$688K	$1.1M	25x	as long as short
Aevo LTC-PERP	+0.0104%	1h	62.010	0.000%	$474K	$499	3x	as long as short
Lighter LTC	+0.0160%	1h	62.089	+0.127%	$1.3M	$1.2M	10x	as long as short
Deribit LTC_USDC-PERPETUAL	+0.0202%	1h	62.042	+0.052%	$700K	$1.1M	50x	as long as short
BloFin LTC-USDT	+0.0220%	8h	62.030	+0.032%	$4.8M	$11.8M	50x	as long as short
Reya LTCRUSDPERP	+0.0335%	1h	62.002	−0.012%	$8K	—	25x	as long as short
Kraken Futures PF_LTCUSDshort	+0.0433%	1h	62.042	+0.051%	$6.9M	$5.8M	50x
Coinbase International LTC-PERP-INTX	+0.0848%	1h	62.220	+0.339%	$1.2M	$2.3M	50x	as long as short
dYdX LTC-USD	+0.0876%	1h	62.070	+0.097%	$436K	$8K	10x	as long as short