Funding arb · Price arb /

LIT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0154%/8h= −16.9% APRpaid last 24h −0.076%

Price spread now: Phemex against Derive−0.065%7-day average — · you buy dearer than you sell

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

Long on Derive Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Phemex is 0.065% cheaper against Derive than usual: you would sell low and buy high (−$7 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Derive LIT-PERP	4.6981	0.0100	pay 0.0013% / 1h	20m 19s	$2K	—	6.7x
Short	Phemex LITUSDT	4.6950	−0.0054	pay 0.0027% / 4h	20m 19s	$1.4M	$2.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Derive. 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 DerivebpFee PhemexbpOrdersPrice spread, now −0.065%Rate

Funding earned: −$32.37
Price spread: −0.065% → 0.000%: −$6.54
Slippage, 4 orders: no order book: not counted
Fee Derive: 3 bp × 2 orders: −$6
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$56.91
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Derive: no order-book sample; Phemex: live order book, 3 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 Derive no order-book sample	—	—	—	—	—
Sell Phemex live order book, 3 min ago	6.39 bp	31.7 bp −$32	doesn't fit	doesn't fit	doesn't fit

Derive: 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.

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
Deribit LIT_USDC-PERPETUAL	−0.0671%	1h	4.6951	−0.062%	$41K	$40K	10x	as long as short
01 Exchange LITUSD	−0.0408%	1h	4.6932	−0.104%	$33K	$3K	5x	as long as short
Orderly PERP_LIT_USDC	−0.0392%	4h	4.6890	−0.193%	$32K	$1K	10x	as long as short
Bullet LIT-USD	−0.0294%	1h	4.6948	−0.070%	$84K	$68K	20x	as long as short
Coinbase International LIT-PERP-INTX	−0.0192%	1h	4.6904	−0.163%	$613K	$399K	50x	as long as short
Gate LIT_USDT	−0.0152%	4h	4.6960	−0.044%	$2.7M	$4.3M	50x	as long as short
Bybit LITUSDT	−0.0087%	4h	4.6950	−0.065%	$41.2M	$28.8M	75x	as long as short
Phemex LITUSDTshort	−0.0054%	4h	4.6950	−0.065%	$1.4M	$2.8M	20x
Phoenix LIT	−0.0034%	1h	4.7025	+0.094%	$202K	$305K	5x	as long as short
Extended LIT-USD	−0.0024%	1h	4.6973	−0.017%	$5.1M	$5.0M	25x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX LIT-USD	0.0000%	1h	4.7011	+0.065%	$34K	—	5x	as long as short
gTrade (Gains Network) LIT/USD	L +0.0003% / S −0.0002%	1h	4.6986	+0.011%	$11K	—	150x	as long as short
OKX LIT-USDT-SWAP	+0.0009%	4h	4.6956	−0.053%	$25.2M	$61.1M	50x	as long as short
KuCoin LITUSDTM	+0.0020%	4h	4.6987	+0.013%	$5.2M	$1.0M	30x	as long as short
Injective LIT/USDC PERP	+0.0033%	1h	4.8040	+2.255%	$422	$178K	5.5x	as long as short
Polymarket Perps LIT-USD	+0.0064%	1h	4.6955	−0.055%	$439K	$109K	10x	as long as short
Backpack LIT_USDC_PERP	+0.0069%	1h	4.6977	−0.008%	$657K	$1.4M	5x	as long as short
RISEx LIT/USDC	+0.0073%	1h	4.7003	+0.047%	$790K	$2.1M	5x	as long as short
Paradex LIT-USD-PERP	+0.0073%	8h	4.6951	−0.064%	$6K	$2K	5x	as long as short
Nado LIT-PERP	+0.0076%	1h	4.6961	−0.041%	$2.2M	$1.7M	10x	as long as short
Lighter LIT	+0.0096%	1h	4.7019	+0.081%	$58.6M	$28.8M	5x	as long as short
Lighter RH LIT	+0.0096%	1h	4.7058	+0.165%	$3.7M	$13.2M	5x	as long as short
Hyperliquid LIT	+0.0100%	1h	4.7027	+0.098%	$210.3M	$41.8M	5x	as long as short
Pacifica LIT	+0.0100%	1h	4.6982	+0.003%	$592K	$1.6M	10x	as long as short
Binance LITUSDT	+0.0100%	4h	4.6934	−0.099%	$75.1M	$79.3M	75x	as long as short
Arcus LIT-USD	+0.0100%	1h	4.6992	+0.024%	$117K	$457K	5x	as long as short
Bulk LIT-USD	+0.0100%	1h	4.6895	−0.182%	$117K	$1K	10x	as long as short
MEXC LIT_USDT	+0.0100%	4h	4.6940	−0.087%	$5.6M	$3.9M	100x	as long as short
Bitget LITUSDT	+0.0100%	4h	4.6970	−0.023%	$6.7M	$2.6M	20x	as long as short
edgeX LITUSDC	+0.0100%	4h	4.6919	−0.132%	$287K	$304K	10x	as long as short
GRVT LIT_USDT_Perp	+0.0100%	4h	4.6947	−0.073%	$906K	$1.7M	10x	as long as short
ApeX Omni LITUSDT	+0.0100%	1h	4.6950	−0.065%	$56K	$76K	50x	as long as short
Derive LIT-PERPlong	+0.0100%	1h	4.6981	long leg	$2K	—	6.7x
SunX LIT-USDT	+0.0100%	4h	4.6982	+0.003%	$5K	$1.2M	20x	as long as short
SoDEX LIT-USD	+0.0100%	1h	4.6955	−0.055%	$1K	$380K	5x	as long as short
HTX LIT-USDT	+0.0100%	4h	4.7024	+0.092%	$199K	$368K	30x	as long as short
Aevo LIT-PERP	+0.0104%	1h	4.6930	−0.108%	$147K	—	3x	as long as short
Aster LITUSDT	+0.0225%	4h	4.7033	+0.111%	$12.6M	$1.9M	50x	as long as short
Aftermath Perps LITUSD	+0.0269%	1h	4.6960	−0.045%	$10K	$205K	10x	as long as short
Perpl LIT	+0.0335%	43m	4.6996	+0.033%	$31K	$770K	33x	as long as short
BloFin LIT-USDT	+0.0340%	4h	4.6927	−0.114%	$1.5M	$1.9M	75x	as long as short
GMX LIT/USD [ETH-USDC]	L +0.0435% / S −0.0231%	1h	4.6975	−0.012%	$65K	—	50x	as long as short