Funding arb · Price arb /

LIT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0209%/8h= +22.9% APRpaid last 24h −0.040%

Price spread now: Bybit against Backpack−0.167%7-day average −0.259% · you buy dearer than you sell

Net, funding: paid 7d − costs−$63as in the Funding arb table

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

costs, in and out, $10k−$490.485% of the position

Long on Backpack Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.148%−$15 on $10k

Price spread, last 7 days−0.211%−$21 · spread now −0.167%, 7d avg −0.259%

Together, before fees−0.360%−$36 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Bybit is 0.092% dearer against Backpack than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of −0.259%. Mind the row above: over the last 7 days funding on this pair cost −0.148%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack LIT_USDC_PERP	4.6724	−0.0228	get 0.0028% / 1h	49m 58s	$662K	$1.4M	5x
Short	Bybit LITUSDT	4.6646	−0.0019	pay 0.0009% / 4h	49m 58s	$41.2M	$28.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Backpack. 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 BackpackbpFee BybitbpOrdersPrice spread, now −0.167%Rate

Funding earned: $43.89
Price spread: −0.167% → −0.259%: $9.2
Slippage, 4 orders: −$27.51
Fee Backpack: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $4.58
Costs to cover: 0.485%
Break-even: 6.3 days

Slippage from Backpack: live order book, 4 min ago; Bybit: live order book, 4 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 Backpack live order book, 4 min ago	0.32 bp	5.5 bp −$5	15.9 bp −$159	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	1.07 bp	20.8 bp −$21	64.6 bp −$646	413.9 bp −$41.4K	doesn't fit

LIT on 42 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
01 Exchange LITUSD	−0.0504%	1h	4.6616	−0.231%	$32K	$4K	5x	as long as short
Orderly PERP_LIT_USDC	−0.0390%	4h	4.6643	−0.173%	$32K	$1K	10x	as long as short
Deribit LIT_USDC-PERPETUAL	−0.0373%	1h	4.6695	−0.063%	$41K	$40K	10x	as long as short
Bullet LIT-USD	−0.0297%	1h	4.6686	−0.082%	$84K	$68K	20x	as long as short
Backpack LIT_USDC_PERPlong	−0.0228%	1h	4.6724	long leg	$662K	$1.4M	5x
Gate LIT_USDT	−0.0194%	4h	4.6710	−0.030%	$2.7M	$4.2M	50x	as long as short
Coinbase International LIT-PERP-INTX	−0.0192%	1h	4.6848	+0.264%	$612K	$404K	50x	as long as short
Phemex LITUSDT	−0.0135%	4h	4.6680	−0.094%	$1.3M	$2.8M	20x	as long as short
Phoenix LIT	−0.0034%	1h	4.6943	+0.469%	$202K	$305K	5x	as long as short
Bybit LITUSDTshort	−0.0019%	4h	4.6646	−0.167%	$41.2M	$28.6M	75x

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin LITUSDTM	−0.0016%	4h	4.6755	+0.066%	$5.2M	$1.0M	30x	as long as short
OKX LIT-USDT-SWAP	−0.0002%	4h	4.6663	−0.131%	$25.1M	$61.2M	50x	as long as short
Polymarket Perps LIT-USD	0.0000%	1h	4.6696	−0.060%	$436K	$109K	10x	as long as short
dYdX LIT-USD	0.0000%	1h	4.6722	−0.005%	$34K	—	5x	as long as short
gTrade (Gains Network) LIT/USD	L +0.0003% / S −0.0002%	1h	4.6726	+0.004%	$11K	—	150x	as long as short
ApeX Omni LITUSDT	+0.0020%	1h	4.6840	+0.248%	$56K	$76K	50x	as long as short
Injective LIT/USDC PERP	+0.0033%	1h	4.8040	+2.817%	$422	$178K	5.5x	as long as short
Extended LIT-USD	+0.0048%	1h	4.6671	−0.113%	$5.1M	$5.0M	25x	as long as short
Paradex LIT-USD-PERP	+0.0059%	8h	4.6660	−0.137%	$7K	$2K	5x	as long as short
GRVT LIT_USDT_Perp	+0.0072%	4h	4.6863	+0.298%	$908K	$1.7M	10x	as long as short
RISEx LIT/USDC	+0.0073%	1h	4.6727	+0.007%	$779K	$2.1M	5x	as long as short
Nado LIT-PERP	+0.0074%	1h	4.6690	−0.073%	$2.1M	$1.7M	10x	as long as short
Lighter LIT	+0.0096%	1h	4.6733	+0.019%	$58.2M	$28.5M	5x	as long as short
Lighter RH LIT	+0.0096%	1h	4.6749	+0.054%	$3.6M	$13.1M	5x	as long as short
Hyperliquid LIT	+0.0100%	1h	4.6756	+0.068%	$209.0M	$41.8M	5x	as long as short
Pacifica LIT	+0.0100%	1h	4.6696	−0.060%	$580K	$1.6M	10x	as long as short
Binance LITUSDT	+0.0100%	4h	4.6663	−0.130%	$74.5M	$79.0M	75x	as long as short
Arcus LIT-USD	+0.0100%	1h	4.6704	−0.043%	$122K	$453K	5x	as long as short
Bulk LIT-USD	+0.0100%	1h	4.6887	+0.349%	$117K	$973	10x	as long as short
MEXC LIT_USDT	+0.0100%	4h	4.6690	−0.073%	$5.5M	$3.9M	100x	as long as short
Bitget LITUSDT	+0.0100%	4h	4.6680	−0.094%	$6.7M	$2.6M	20x	as long as short
edgeX LITUSDC	+0.0100%	4h	4.6866	+0.304%	$286K	$303K	10x	as long as short
Derive LIT-PERP	+0.0100%	1h	4.6720	−0.009%	$2K	—	6.7x	as long as short
SunX LIT-USDT	+0.0100%	4h	4.6698	−0.056%	$4K	$1.2M	20x	as long as short
SoDEX LIT-USD	+0.0100%	1h	4.6710	−0.030%	$2K	$390K	5x	as long as short
HTX LIT-USDT	+0.0100%	4h	4.6799	+0.161%	$198K	$388K	30x	as long as short
Aevo LIT-PERP	+0.0104%	1h	4.6696	−0.059%	$146K	—	3x	as long as short
Aftermath Perps LITUSD	+0.0151%	1h	4.6840	+0.248%	$8K	$206K	10x	as long as short
Aster LITUSDT	+0.0185%	4h	4.6736	+0.026%	$12.5M	$2.0M	50x	as long as short
Perpl LIT	+0.0335%	43m	4.6720	−0.008%	$31K	$794K	33x	as long as short
BloFin LIT-USDT	+0.0340%	4h	4.6684	−0.086%	$1.5M	$1.9M	75x	as long as short
GMX LIT/USD [ETH-USDC]	L +0.0418% / S −0.0217%	1h	4.6724	0.000%	$62K	—	50x	as long as short