Funding arb · Price arb /

LIT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.061%

Price spread now: Phemex against Injective−2.311%65s7-day average +9.783% · you buy dearer than you sell

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

Long on Injective Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.078%−$8 on $10k

Price spread, last 4 days (all we have)+17.386%+$1,739 · spread now −2.311%, 7d avg +9.783%

Together, before fees+17.308%+$1,731 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Phemex is 12.093% cheaper against Injective than usual: you would sell low and buy high (−$1,209 if the spread goes back to its 7-day average of +9.783%). Swap the legs. The two prices were read 65 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective LIT/USDC PERP	4.8040	0.0033	pay 0.0004% / 1h	7m 54s	$422	$178K	5.5x
Short	Phemex LITUSDT	4.6930	−0.0017	pay 0.0008% / 4h	1h 07m	$1.4M	$2.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Injective. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 InjectivebpFee PhemexbpOrdersPrice spread, now −2.311%Rate

Funding earned: −$10.54
Price spread: −2.311% → +9.783%: −$1,209.31
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$1,231.87
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; Phemex: live order book, 6 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 Injective no order-book sample	—	—	—	—	—
Sell Phemex live order book, 6 min ago	6.38 bp	36.4 bp −$36	doesn't fit	doesn't fit	doesn't fit

Injective: 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	−0.0472%	1h	4.6940	−2.290%	$41K	$40K	10x	as long as short
Orderly PERP_LIT_USDC	−0.0377%	4h	4.6892	−2.390%	$32K	$1K	10x	as long as short
01 Exchange LITUSD	−0.0312%	1h	4.6899	−2.375%	$33K	$4K	5x	as long as short
Bullet LIT-USD	−0.0261%	1h	4.6929	−2.312%	$84K	$68K	20x	as long as short
ApeX Omni LITUSDT	−0.0119%	1h	4.6960	−2.248%	$56K	$76K	50x	as long as short
Gate LIT_USDT	−0.0090%	4h	4.6950	−2.269%	$2.8M	$4.3M	50x	as long as short
Phoenix LIT	−0.0085%	1h	4.7010	−2.144%	$202K	$341K	5x	as long as short
Coinbase International LIT-PERP-INTX	−0.0024%	1h	4.6800	−2.582%	$611K	$411K	50x	as long as short
Phemex LITUSDTshort	−0.0017%	4h	4.6930	−2.311%	$1.4M	$2.8M	20x
gTrade (Gains Network) LIT/USD	L +0.0003% / S −0.0002%	1h	4.6978	−2.211%	$11K	—	150x	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	+0.0005%	1h	4.6961	−2.246%	$34K	—	5x	as long as short
OKX LIT-USDT-SWAP	+0.0018%	4h	4.6890	−2.394%	$25.2M	$61.7M	50x	as long as short
Injective LIT/USDC PERPlong	+0.0033%	1h	4.8040	long leg	$422	$178K	5.5x
KuCoin LITUSDTM	+0.0042%	4h	4.6978	−2.211%	$5.2M	$1.0M	30x	as long as short
Paradex LIT-USD-PERP	+0.0072%	8h	4.6957	−2.254%	$7K	$2K	5x	as long as short
Bybit LITUSDT	+0.0083%	4h	4.6880	−2.415%	$41.6M	$28.5M	75x	as long as short
GRVT LIT_USDT_Perp	+0.0084%	4h	4.7000	−2.165%	$905K	$1.8M	10x	as long as short
Lighter LIT	+0.0096%	1h	4.6979	−2.209%	$58.5M	$28.9M	5x	as long as short
Lighter RH LIT	+0.0096%	1h	4.7007	−2.150%	$3.6M	$13.4M	5x	as long as short
RISEx LIT/USDC	+0.0099%	1h	4.6972	−2.223%	$783K	$2.1M	5x	as long as short
Nado LIT-PERP	+0.0100%	1h	4.6917	−2.338%	$2.2M	$1.7M	10x	as long as short
Hyperliquid LIT	+0.0100%	1h	4.6990	−2.186%	$210.0M	$41.8M	5x	as long as short
Pacifica LIT	+0.0100%	1h	4.6972	−2.223%	$579K	$1.6M	10x	as long as short
Binance LITUSDT	+0.0100%	4h	4.6878	−2.419%	$74.7M	$79.0M	75x	as long as short
Arcus LIT-USD	+0.0100%	1h	4.6956	−2.256%	$122K	$454K	5x	as long as short
MEXC LIT_USDT	+0.0100%	4h	4.6887	−2.400%	$5.5M	$3.9M	100x	as long as short
Bitget LITUSDT	+0.0100%	4h	4.6940	−2.290%	$6.8M	$2.6M	20x	as long as short
Backpack LIT_USDC_PERP	+0.0100%	1h	4.6960	−2.248%	$665K	$1.4M	5x	as long as short
edgeX LITUSDC	+0.0100%	4h	4.6928	−2.314%	$286K	$303K	10x	as long as short
Polymarket Perps LIT-USD	+0.0100%	1h	4.6946	−2.277%	$438K	$110K	10x	as long as short
Derive LIT-PERP	+0.0100%	1h	4.6974	−2.220%	$2K	—	6.7x	as long as short
SunX LIT-USDT	+0.0100%	4h	4.6918	−2.336%	$4K	$1.2M	20x	as long as short
SoDEX LIT-USD	+0.0100%	1h	4.6944	−2.281%	$2K	$397K	5x	as long as short
HTX LIT-USDT	+0.0100%	4h	4.7003	−2.159%	$199K	$388K	30x	as long as short
Bulk LIT-USD	+0.0100%	1h	4.7305	−1.530%	$118K	$973	10x	as long as short
Extended LIT-USD	+0.0104%	1h	4.6872	−2.431%	$5.2M	$5.0M	25x	as long as short
Aevo LIT-PERP	+0.0104%	1h	4.6938	−2.294%	$147K	—	3x	as long as short
Aftermath Perps LITUSD	+0.0195%	1h	4.7034	−2.093%	$9K	$205K	10x	as long as short
Aster LITUSDT	+0.0211%	4h	4.6963	−2.242%	$12.6M	$2.0M	50x	as long as short
BloFin LIT-USDT	+0.0340%	4h	4.6917	−2.338%	$1.5M	$1.9M	75x	as long as short
GMX LIT/USD [ETH-USDC]	L +0.0416% / S −0.0214%	1h	4.6970	−2.227%	$63K	—	50x	as long as short
Perpl LIT	+0.0447%	43m	4.6979	−2.208%	$31K	$806K	33x	as long as short