Funding arb · Price arb /

LIT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0457%/8h= −50.1% APRpaid last 24h −0.173%

Price spread now: Phemex against GMX−0.111%7-day average — · you buy dearer than you sell

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

Long on GMX 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 −$14 a day on $10k at the current rate, and Phemex is 0.111% cheaper against GMX than usual: you would sell low and buy high (−$11 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	GMX LIT/USD [ETH-USDC]	4.6922	L +0.0412% / S −0.0209%	pay 0.0052% / 1h	28m 36s	$63K	—	50x
Short	Phemex LITUSDT	4.6870	−0.0045	pay 0.0023% / 4h	1h 28m	$1.4M	$2.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against GMX. 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 GMXbpFee PhemexbpOrdersPrice spread, now −0.111%Rate

Funding earned: −$96.07
Price spread: −0.111% → 0.000%: −$11.06
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$131.13
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Phemex: live order book, 5 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 GMX no order-book sample	—	—	—	—	—
Sell Phemex live order book, 5 min ago	6.40 bp	34.1 bp −$34	doesn't fit	doesn't fit	doesn't fit

GMX: 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
Orderly PERP_LIT_USDC	−0.0387%	4h	4.6831	−0.194%	$32K	$1K	10x	as long as short
Deribit LIT_USDC-PERPETUAL	−0.0296%	1h	4.6886	−0.076%	$41K	$40K	10x	as long as short
01 Exchange LITUSD	−0.0280%	1h	4.6785	−0.292%	$33K	$4K	5x	as long as short
Bullet LIT-USD	−0.0274%	1h	4.6880	−0.090%	$84K	$68K	20x	as long as short
Gate LIT_USDT	−0.0126%	4h	4.6870	−0.111%	$2.7M	$4.2M	50x	as long as short
Phoenix LIT	−0.0085%	1h	4.6961	+0.083%	$202K	$341K	5x	as long as short
Phemex LITUSDTshort	−0.0045%	4h	4.6870	−0.111%	$1.4M	$2.8M	20x
Coinbase International LIT-PERP-INTX	−0.0024%	1h	4.6800	−0.261%	$611K	$423K	50x	as long as short
gTrade (Gains Network) LIT/USD	L +0.0003% / S −0.0002%	1h	4.6915	−0.015%	$11K	—	150x	as long as short
ApeX Omni LITUSDT	+0.0006%	1h	4.6880	−0.089%	$56K	$76K	50x	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	+0.0008%	1h	4.6860	−0.132%	$34K	—	5x	as long as short
KuCoin LITUSDTM	+0.0010%	4h	4.6861	−0.130%	$5.2M	$1.0M	30x	as long as short
OKX LIT-USDT-SWAP	+0.0017%	4h	4.6860	−0.132%	$25.3M	$61.5M	50x	as long as short
Injective LIT/USDC PERP	+0.0033%	1h	4.8040	+2.383%	$422	$178K	5.5x	as long as short
GRVT LIT_USDT_Perp	+0.0048%	4h	4.6933	+0.024%	$911K	$1.7M	10x	as long as short
Paradex LIT-USD-PERP	+0.0072%	8h	4.6807	−0.245%	$7K	$2K	5x	as long as short
Lighter LIT	+0.0096%	1h	4.6894	−0.059%	$58.5M	$28.7M	5x	as long as short
RISEx LIT/USDC	+0.0099%	1h	4.6868	−0.115%	$781K	$2.0M	5x	as long as short
Nado LIT-PERP	+0.0100%	1h	4.6828	−0.199%	$2.2M	$1.7M	10x	as long as short
Hyperliquid LIT	+0.0100%	1h	4.6911	−0.023%	$209.6M	$41.1M	5x	as long as short
Pacifica LIT	+0.0100%	1h	4.6873	−0.104%	$579K	$1.6M	10x	as long as short
Binance LITUSDT	+0.0100%	4h	4.6830	−0.196%	$74.5M	$78.6M	75x	as long as short
Bybit LITUSDT	+0.0100%	4h	4.6835	−0.185%	$41.5M	$28.6M	75x	as long as short
Arcus LIT-USD	+0.0100%	1h	4.6853	−0.147%	$117K	$449K	5x	as long as short
Bulk LIT-USD	+0.0100%	1h	4.6831	−0.194%	$117K	$2K	10x	as long as short
MEXC LIT_USDT	+0.0100%	4h	4.6839	−0.177%	$5.4M	$3.9M	100x	as long as short
Bitget LITUSDT	+0.0100%	4h	4.6870	−0.111%	$6.7M	$2.6M	20x	as long as short
Backpack LIT_USDC_PERP	+0.0100%	1h	4.6941	+0.041%	$691K	$1.4M	5x	as long as short
edgeX LITUSDC	+0.0100%	4h	4.6894	−0.060%	$286K	$305K	10x	as long as short
Polymarket Perps LIT-USD	+0.0100%	1h	4.6863	−0.126%	$443K	$104K	10x	as long as short
Derive LIT-PERP	+0.0100%	1h	4.6921	−0.002%	$2K	—	6.7x	as long as short
SunX LIT-USDT	+0.0100%	4h	4.6850	−0.153%	$4K	$1.2M	20x	as long as short
SoDEX LIT-USD	+0.0100%	1h	4.6894	−0.059%	$1K	$411K	5x	as long as short
HTX LIT-USDT	+0.0100%	4h	4.6923	+0.002%	$194K	$380K	30x	as long as short
Extended LIT-USD	+0.0104%	1h	4.6802	−0.255%	$5.2M	$5.0M	25x	as long as short
Aevo LIT-PERP	+0.0104%	1h	4.6861	−0.131%	$147K	—	3x	as long as short
Lighter RH LIT	+0.0112%	1h	4.6922	0.000%	$3.7M	$13.2M	5x	as long as short
Aster LITUSDT	+0.0193%	4h	4.6936	+0.031%	$12.6M	$2.0M	50x	as long as short
Aftermath Perps LITUSD	+0.0225%	1h	4.6887	−0.075%	$9K	$207K	10x	as long as short
BloFin LIT-USDT	+0.0340%	4h	4.6860	−0.132%	$1.5M	$1.9M	75x	as long as short
GMX LIT/USD [ETH-USDC]long	L +0.0412% / S −0.0209%	1h	4.6922	long leg	$63K	—	50x
Perpl LIT	+0.0447%	43m	4.6874	−0.103%	$31K	$824K	33x	as long as short