Funding arb · Price arb /

LIT

all LIT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0134%/8h= +14.7% APRpaid last 24h +0.018%

Price spread now: Phoenix against KuCoin−0.068%48s7-day average +0.133% · you buy dearer than you sell

Net, funding: paid 7d − costs−$70as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$800.799% of the position

Long on KuCoin Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.095%+$10 on $10k

Price spread, last 3 days (all we have)+0.735%+$73 · spread now −0.068%, 7d avg +0.133%

Together, before fees+0.830%+$83 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phoenix is 0.201% cheaper against KuCoin than usual: you would sell low and buy high (spread −0.068% now, against its 7-day average of +0.133%). If the spread goes back, that is −$20 on $10k: about 5.0 days of funding at the current rate (+$4 a day). At the pace of the last 7 days (+0.095% in total) that is about 15 days. The two prices were read 48 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	KuCoin LITUSDTM	4.7206	−0.0168	get 0.0084% / 4h	3h 50m	$5.2M	$1.1M	30x
Short	Phoenix LIT	4.7174	−0.0034	pay 0.0004% / 1h	50m 42s	$204K	$361K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against KuCoin. 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 KuCoinbpFee PhoenixbpOrdersPrice spread, now −0.068%Rate

Funding earned: $28.19
Price spread: −0.068% → +0.133%: −$20.08
Slippage, 4 orders: −$60.95
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$71.84
Costs to cover: 0.799%
Break-even: 24.8 days

Slippage from KuCoin: live order book, 7 min ago; Phoenix: live order book, 20 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 KuCoin live order book, 7 min ago	6.88 bp	22.9 bp −$23	419.4 bp −$4,194	doesn't fit	doesn't fit
Sell Phoenix live order book, 20 min ago	1.90 bp	16.1 bp −$16	50.1 bp −$501	doesn't fit	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
Gate LIT_USDT	−0.0760%	4h	4.7220	+0.030%	$2.8M	$4.4M	50x	as long as short
Deribit LIT_USDC-PERPETUAL	−0.0718%	1h	4.7164	−0.089%	$41K	$40K	10x	as long as short
Orderly PERP_LIT_USDC	−0.0527%	4h	4.7111	−0.201%	$32K	$2K	10x	as long as short
ApeX Omni LITUSDT	−0.0508%	1h	4.7130	−0.161%	$55K	$77K	50x	as long as short
01 Exchange LITUSD	−0.0504%	1h	4.7138	−0.144%	$33K	$4K	5x	as long as short
Bullet LIT-USD	−0.0303%	1h	4.7168	−0.081%	$84K	$77K	20x	as long as short
OKX LIT-USDT-SWAP	−0.0294%	4h	4.7203	−0.006%	$25.6M	$63.7M	50x	as long as short
KuCoin LITUSDTMlong	−0.0168%	4h	4.7206	long leg	$5.2M	$1.1M	30x
Backpack LIT_USDC_PERP	−0.0099%	1h	4.7165	−0.087%	$679K	$1.4M	5x	as long as short
Coinbase International LIT-PERP-INTX	−0.0088%	1h	4.7414	+0.440%	$670K	$402K	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex LITUSDT	−0.0047%	4h	4.7160	−0.097%	$1.4M	$2.7M	20x	as long as short
GRVT LIT_USDT_Perp	−0.0042%	4h	4.7160	−0.097%	$903K	$1.8M	10x	as long as short
Phoenix LITshort	−0.0034%	1h	4.7174	−0.068%	$204K	$361K	5x
dYdX LIT-USD	0.0000%	1h	4.7193	−0.028%	$34K	—	5x	as long as short
Perpl LIT	0.0000%	43m	4.7219	+0.027%	$31K	$860K	33x	as long as short
gTrade (Gains Network) LIT/USD	L +0.0003% / S −0.0003%	1h	4.7211	+0.011%	$35K	—	150x	as long as short
Paradex LIT-USD-PERP	+0.0033%	8h	4.7169	−0.079%	$7K	$2K	5x	as long as short
Injective LIT/USDC PERP	+0.0033%	1h	4.8040	+1.767%	$422	$178K	5.5x	as long as short
Nado LIT-PERP	+0.0082%	1h	4.7155	−0.108%	$2.2M	$1.7M	10x	as long as short
Lighter LIT	+0.0096%	1h	4.7227	+0.044%	$59.0M	$29.4M	5x	as long as short
Hyperliquid LIT	+0.0100%	1h	4.7248	+0.089%	$211.9M	$44.8M	5x	as long as short
Aster LITUSDT	+0.0100%	4h	4.7223	+0.036%	$12.6M	$2.4M	50x	as long as short
Pacifica LIT	+0.0100%	1h	4.7203	−0.007%	$586K	$1.7M	10x	as long as short
Binance LITUSDT	+0.0100%	4h	4.7153	−0.112%	$75.2M	$81.8M	75x	as long as short
Bybit LITUSDT	+0.0100%	4h	4.7190	−0.034%	$42.5M	$30.3M	75x	as long as short
Arcus LIT-USD	+0.0100%	1h	4.7196	−0.021%	$117K	$455K	5x	as long as short
Bulk LIT-USD	+0.0100%	1h	4.7190	−0.034%	$118K	$1K	10x	as long as short
MEXC LIT_USDT	+0.0100%	4h	4.7149	−0.121%	$5.6M	$4.1M	100x	as long as short
Bitget LITUSDT	+0.0100%	4h	4.7200	−0.013%	$6.7M	$2.8M	20x	as long as short
edgeX LITUSDC	+0.0100%	4h	4.7133	−0.155%	$287K	$310K	10x	as long as short
Polymarket Perps LIT-USD	+0.0100%	1h	4.7161	−0.095%	$446K	$104K	10x	as long as short
Derive LIT-PERP	+0.0100%	1h	4.7195	−0.024%	$2K	—	6.7x	as long as short
SunX LIT-USDT	+0.0100%	4h	4.7127	−0.167%	$4K	$1.2M	20x	as long as short
SoDEX LIT-USD	+0.0100%	1h	4.7182	−0.051%	$996	$471K	5x	as long as short
HTX LIT-USDT	+0.0100%	4h	4.7200	−0.013%	$188K	$347K	30x	as long as short
Lighter RH LIT	+0.0104%	1h	4.7246	+0.085%	$3.7M	$13.6M	5x	as long as short
Extended LIT-USD	+0.0104%	1h	4.7185	−0.044%	$5.2M	$5.2M	25x	as long as short
Aevo LIT-PERP	+0.0104%	1h	4.7264	+0.124%	$148K	—	3x	as long as short
RISEx LIT/USDC	+0.0119%	1h	4.7228	+0.046%	$796K	$2.0M	5x	as long as short
Aftermath Perps LITUSD	+0.0274%	1h	4.7240	+0.071%	$12K	$203K	10x	as long as short
BloFin LIT-USDT	+0.0340%	4h	4.7121	−0.180%	$1.5M	$2.1M	75x	as long as short
GMX LIT/USD [ETH-USDC]	L +0.0382% / S −0.0174%	1h	4.7204	−0.004%	$62K	—	50x	as long as short