Funding arb · Price arb /

LTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC+0.0008%/8h= +0.9% APRnext payment +$0.01 per $10,000 · paid last 24h —

Price spread now: Kraken Futures against Phoenix+0.204%7-day average — · you sell dearer than you buy

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

Long on Phoenix Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 hours (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Kraken Futures is 0.204% dearer against Phoenix than usual: you sell high and buy low, +$20 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix LTC	63.043	0.0064	pay 0.0008% / 1h	24m 40s	$2K	$3K	10x
Short	Kraken Futures PF_LTCUSD	63.172	0.0071	get 0.0009% / 1h	24m 40s	$6.8M	$5.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Phoenix. 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 PhoenixbpFee Kraken FuturesbpOrdersPrice spread, now +0.204%Rate

Funding earned: $1.63
Price spread: +0.204% → 0.000%: $20.43
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $5.06
Costs to cover: 0.170%
Break-even: from the start

Slippage unknown: Phoenix: no order-book sample; Kraken Futures: live order book, 2 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 Phoenix no order-book sample	—	—	—	—	—
Sell Kraken Futures live order book, 2 min ago	3.19 bp	11.6 bp −$12	14.8 bp −$148	57.8 bp −$5,777	doesn't fit

Phoenix: 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 38 exchanges

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
Variational Omni LTC	−0.0007%	8h	62.962	−0.129%	$3.8M	$982K	—	as long as short
Kalshi KXLTCPERP	0.0000%	8h	63.034	−0.014%	$389K	$3.8M	4x	as long as short
gTrade (Gains Network) LTC/USD	L +0.0002% / S −0.0005%	1h	63.141	+0.156%	$20K	—	150x	as long as short
Injective LTC/USDC PERP	+0.0033%	1h	62.390	−1.036%	$5K	$140K	12x	as long as short
Phoenix LTClong	+0.0064%	1h	63.043	long leg	$2K	$3K	10x
Kraken Futures PF_LTCUSDshort	+0.0071%	1h	63.172	+0.204%	$6.8M	$5.7M	50x
Lighter LTC	+0.0096%	1h	63.151	+0.171%	$1.3M	$1.3M	10x	as long as short
Orderly PERP_LTC_USDC	+0.0098%	8h	63.130	+0.138%	$12K	$53K	20x	as long as short
Paradex LTC-USD-PERP	+0.0100%	8h	63.066	+0.037%	$23K	$13K	20x	as long as short
Nado LTC-PERP	+0.0100%	1h	63.102	+0.094%	$255K	$242K	10x	as long as short

Show all 38 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster LTCUSDT	+0.0100%	8h	63.101	+0.092%	$2.5M	$1.5M	75x	as long as short
Pacifica LTC	+0.0100%	1h	63.080	+0.059%	$552K	$25K	10x	as long as short
Binance LTCUSDT	+0.0100%	8h	63.070	+0.043%	$99.2M	$189.0M	75x	as long as short
Bybit LTCUSDT	+0.0100%	8h	63.040	−0.005%	$84.2M	$50.5M	75x	as long as short
OKX LTC-USDT-SWAP	+0.0100%	8h	63.060	+0.027%	$29.6M	$66.5M	50x	as long as short
Gate LTC_USDT	+0.0100%	8h	63.080	+0.059%	$20.3M	$17.0M	75x	as long as short
MEXC LTC_USDT	+0.0100%	8h	63.070	+0.043%	$80.3M	$35.8M	200x	as long as short
KuCoin LTCUSDTM	+0.0100%	8h	63.100	+0.090%	$21.0M	$10.1M	75x	as long as short
Bitget LTCUSDT	+0.0100%	8h	63.050	+0.011%	$31.2M	$18.5M	75x	as long as short
BingX LTC-USDT	+0.0100%	8h	63.060	+0.027%	—	$18.5M	—	as long as short
Backpack LTC_USDC_PERP	+0.0100%	1h	63.149	+0.168%	$144K	$350K	10x	as long as short
edgeX LTCUSDC	+0.0100%	4h	62.690	−0.560%	$41K	$439K	20x	as long as short
GRVT LTC_USDT_Perp	+0.0100%	8h	62.672	−0.589%	$352K	$2.3M	10x	as long as short
ApeX Omni LTCUSDT	+0.0100%	1h	62.710	−0.528%	$101K	$692K	50x	as long as short
Polymarket Perps LTC-USD	+0.0100%	1h	63.162	+0.189%	$61K	$571K	10x	as long as short
SunX LTC-USDT	+0.0100%	8h	63.220	+0.281%	$18K	$1.9M	30x	as long as short
SoDEX LTC-USD	+0.0100%	1h	63.130	+0.138%	$169	$6K	10x	as long as short
HTX LTC-USDT	+0.0100%	8h	63.050	+0.011%	$2.0M	$4.4M	75x	as long as short
Phemex LTCUSDT	+0.0100%	8h	63.160	+0.186%	$21.9M	$8.4M	50x	as long as short
Extended LTC-USD	+0.0104%	1h	63.058	+0.025%	$725K	$347K	25x	as long as short
Aevo LTC-PERP	+0.0104%	1h	63.123	+0.127%	$482K	—	3x	as long as short
Hyperliquid LTC	+0.0154%	1h	63.192	+0.236%	$40.6M	$21.4M	10x	as long as short
GMX LTC/USD [ETH-USDC]	L +0.0167% / S −0.0068%	1h	63.136	+0.147%	$98K	—	200x	as long as short
Coinbase International LTC-PERP-INTX	+0.0184%	1h	63.190	+0.233%	$869K	$2.6M	50x	as long as short
dYdX LTC-USD	+0.0186%	1h	63.106	+0.100%	$443K	$1K	10x	as long as short
BloFin LTC-USDT	+0.0220%	8h	63.130	+0.138%	$4.8M	$8.2M	50x	as long as short
Deribit LTC_USDC-PERPETUAL	+0.0225%	1h	63.196	+0.243%	$729K	$406K	50x	as long as short
Reya LTCRUSDPERP	+0.0343%	1h	63.127	+0.133%	$8K	$403	25x	as long as short