Funding arb · Price arb /

LIT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0566%/8h= −62.0% APRpaid last 24h −0.188%

Price spread now: Orderly against Hyperliquid−0.285%7-day average — · you buy dearer than you sell

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

Long on Hyperliquid Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropHyperliquid: Season 2 · farm boardneeds both histories

Both sides work against this trade now: funding costs −$17 a day on $10k at the current rate, and Orderly is 0.285% cheaper against Hyperliquid than usual: you would sell low and buy high (−$29 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	Hyperliquid LIT	4.8701	0.0212	pay 0.0027% / 1h	17m 27s	$219.5M	$41.1M	5x
Short	Orderly PERP_LIT_USDC	4.8562	−0.0354	pay 0.0177% / 4h	2h 17m	$33K	$1K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Hyperliquid. 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 HyperliquidbpFee OrderlybpOrdersPrice spread, now −0.285%Rate

Funding earned: −$118.93
Price spread: −0.285% → 0.000%: −$28.54
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$162.48
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 7 min ago; Orderly: no order-book sample. 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 Hyperliquid live order book, 7 min ago	0.10 bp	4.6 bp −$5	doesn't fit	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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
Coinbase International LIT-PERP-INTX	−0.0448%	1h	4.8470	−0.474%	$613K	$370K	50x	as long as short
Orderly PERP_LIT_USDCshort	−0.0354%	4h	4.8562	−0.285%	$33K	$1K	10x
Deribit LIT_USDC-PERPETUAL	−0.0322%	1h	4.8591	−0.225%	$43K	$40K	10x	as long as short
01 Exchange LITUSD	−0.0208%	1h	4.8621	−0.164%	$32K	$4K	5x	as long as short
Bullet LIT-USD	−0.0163%	1h	4.8554	−0.302%	$87K	$66K	20x	as long as short
OKX LIT-USDT-SWAP	−0.0143%	4h	4.8591	−0.226%	$26.1M	$62.9M	50x	as long as short
Phemex LITUSDT	−0.0140%	4h	4.8690	−0.023%	$1.4M	$2.8M	20x	as long as short
GRVT LIT_USDT_Perp	−0.0110%	4h	4.8366	−0.688%	$902K	$1.9M	10x	as long as short
Phoenix LIT	−0.0017%	1h	4.8725	+0.049%	$210K	$283K	5x	as long as short
RISEx LIT/USDC	−0.0012%	1h	4.8652	−0.101%	$845K	$2.2M	5x	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	4.8640	−0.125%	$35K	—	5x	as long as short
gTrade (Gains Network) LIT/USD	L +0.0003% / S −0.0002%	1h	4.8604	−0.199%	$12K	—	150x	as long as short
Injective LIT/USDC PERP	+0.0033%	1h	4.8040	−1.357%	$422	$178K	5.5x	as long as short
KuCoin LITUSDTM	+0.0048%	4h	4.8631	−0.144%	$5.5M	$1.0M	30x	as long as short
Bybit LITUSDT	+0.0072%	4h	4.8590	−0.228%	$42.1M	$28.8M	75x	as long as short
Paradex LIT-USD-PERP	+0.0094%	8h	4.8620	−0.167%	$7K	$2K	5x	as long as short
Lighter LIT	+0.0096%	1h	4.8641	−0.123%	$60.6M	$28.3M	5x	as long as short
Nado LIT-PERP	+0.0100%	1h	4.8595	−0.217%	$2.2M	$1.6M	10x	as long as short
Pacifica LIT	+0.0100%	1h	4.8675	−0.053%	$623K	$1.7M	10x	as long as short
Binance LITUSDT	+0.0100%	4h	4.8570	−0.268%	$78.0M	$77.4M	75x	as long as short
Arcus LIT-USD	+0.0100%	1h	4.8680	−0.043%	$121K	$471K	5x	as long as short
Bulk LIT-USD	+0.0100%	1h	4.7822	−1.804%	$119K	$7K	10x	as long as short
Gate LIT_USDT	+0.0100%	4h	4.8670	−0.064%	$2.8M	$4.3M	50x	as long as short
MEXC LIT_USDT	+0.0100%	4h	4.8574	−0.261%	$5.9M	$3.9M	100x	as long as short
Bitget LITUSDT	+0.0100%	4h	4.8610	−0.187%	$6.9M	$2.6M	20x	as long as short
Backpack LIT_USDC_PERP	+0.0100%	1h	4.8767	+0.136%	$683K	$1.1M	5x	as long as short
edgeX LITUSDC	+0.0100%	4h	4.8045	−1.346%	$294K	$304K	10x	as long as short
ApeX Omni LITUSDT	+0.0100%	1h	4.8420	−0.577%	$58K	$75K	50x	as long as short
Polymarket Perps LIT-USD	+0.0100%	1h	4.8607	−0.193%	$456K	$84K	10x	as long as short
Derive LIT-PERP	+0.0100%	1h	4.8607	−0.194%	$2K	—	6.7x	as long as short
SunX LIT-USDT	+0.0100%	4h	4.8690	−0.023%	$4K	$1.1M	20x	as long as short
SoDEX LIT-USD	+0.0100%	1h	4.8705	+0.008%	$1K	$336K	5x	as long as short
HTX LIT-USDT	+0.0100%	4h	4.8615	−0.177%	$202K	$342K	30x	as long as short
Extended LIT-USD	+0.0104%	1h	4.8637	−0.131%	$5.3M	$5.0M	25x	as long as short
Aevo LIT-PERP	+0.0104%	1h	4.8591	−0.226%	$152K	—	3x	as long as short
Lighter RH LIT	+0.0176%	1h	4.8693	−0.016%	$3.7M	$13.3M	5x	as long as short
Hyperliquid LITlong	+0.0212%	1h	4.8701	long leg	$219.5M	$41.1M	5x
Aster LITUSDT	+0.0229%	4h	4.8656	−0.092%	$13.0M	$2.0M	50x	as long as short
Aftermath Perps LITUSD	+0.0232%	1h	4.8185	−1.059%	$9K	$217K	10x	as long as short
BloFin LIT-USDT	+0.0340%	4h	4.8370	−0.680%	$1.6M	$2.1M	75x	as long as short
GMX LIT/USD [ETH-USDC]	L +0.0429% / S −0.0217%	1h	4.8587	−0.233%	$65K	—	50x	as long as short
Perpl LIT	+0.0447%	43m	4.8594	−0.219%	$35K	$686K	33x	as long as short