Funding arb · Price arb /

LIT

all LIT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0119%/8h= −13.0% APRpaid last 24h −0.070%

Price spread now: Bybit against Lighter−0.192%7-day average −0.094% · you buy dearer than you sell

Net, funding: paid 7d − costs−$78as in the Funding arb table

Net, price: spread back to 7d avg − costs−$60as in the Price arb table

costs, in and out, $10k−$510.506% of the position

Long on Lighter Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.270%−$27 on $10k

Price spread, last 7 days+0.212%+$21 · spread now −0.192%, 7d avg −0.094%

Together, before fees−0.058%+ Points / potential airdropLighter: Season 3 · farm board−$6 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Bybit is 0.098% cheaper against Lighter than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of −0.094%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter LIT	4.7491	0.0096	pay 0.0012% / 1h	33m 54s	$59.2M	$27.8M	5x
Short	Bybit LITUSDT	4.7400	−0.0023	pay 0.0011% / 4h	2h 33m	$41.2M	$28.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Lighter. 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 LighterbpFee BybitbpOrdersPrice spread, now −0.192%Rate

Funding earned: −$24.97
Price spread: −0.192% → −0.094%: −$9.79
Slippage, 4 orders: −$39.61
Fee Lighter: 0 bp × 2 orders: $0
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$85.37
Costs to cover: 0.506%
Break-even: never at this rate

Slippage from Lighter: live order book, 5 min ago; Bybit: live order book, 10 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 Lighter live order book, 5 min ago	0.10 bp	6.2 bp −$6	16.9 bp −$169	doesn't fit	doesn't fit
Sell Bybit live order book, 10 min ago	1.06 bp	16.5 bp −$17	56.3 bp −$563	486.2 bp −$48.6K	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
Deribit LIT_USDC-PERPETUAL	−0.0645%	1h	4.7428	−0.132%	$42K	$40K	10x	as long as short
Coinbase International LIT-PERP-INTX	−0.0448%	1h	4.7300	−0.402%	$612K	$347K	50x	as long as short
Phemex LITUSDT	−0.0394%	4h	4.7440	−0.107%	$1.4M	$2.8M	20x	as long as short
Orderly PERP_LIT_USDC	−0.0375%	4h	4.7433	−0.122%	$32K	$1K	10x	as long as short
01 Exchange LITUSD	−0.0264%	1h	4.7494	+0.006%	$31K	$4K	5x	as long as short
GRVT LIT_USDT_Perp	−0.0212%	4h	4.7640	+0.315%	$888K	$1.9M	10x	as long as short
Bullet LIT-USD	−0.0159%	1h	4.7450	−0.086%	$85K	$68K	20x	as long as short
OKX LIT-USDT-SWAP	−0.0143%	4h	4.7393	−0.206%	$25.5M	$60.7M	50x	as long as short
Bybit LITUSDTshort	−0.0023%	4h	4.7400	−0.192%	$41.2M	$28.6M	75x
Phoenix LIT	−0.0017%	1h	4.7579	+0.185%	$205K	$283K	5x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
RISEx LIT/USDC	−0.0012%	1h	4.7556	+0.136%	$820K	$2.2M	5x	as long as short
dYdX LIT-USD	0.0000%	1h	4.7712	+0.466%	$34K	—	5x	as long as short
gTrade (Gains Network) LIT/USD	L +0.0003% / S −0.0002%	1h	4.7477	−0.028%	$11K	—	150x	as long as short
KuCoin LITUSDTM	+0.0014%	4h	4.7496	+0.011%	$5.3M	$1.0M	30x	as long as short
Injective LIT/USDC PERP	+0.0033%	1h	4.8040	+1.156%	$422	$178K	5.5x	as long as short
Paradex LIT-USD-PERP	+0.0093%	8h	4.7631	+0.295%	$7K	$2K	5x	as long as short
Lighter LITlong	+0.0096%	1h	4.7491	long leg	$59.2M	$27.8M	5x
Nado LIT-PERP	+0.0100%	1h	4.7500	+0.018%	$2.2M	$1.6M	10x	as long as short
Hyperliquid LIT	+0.0100%	1h	4.7509	+0.038%	$212.8M	$40.7M	5x	as long as short
Pacifica LIT	+0.0100%	1h	4.7685	+0.408%	$577K	$1.6M	10x	as long as short
Binance LITUSDT	+0.0100%	4h	4.7371	−0.253%	$76.1M	$76.8M	75x	as long as short
Arcus LIT-USD	+0.0100%	1h	4.7546	+0.116%	$118K	$462K	5x	as long as short
Gate LIT_USDT	+0.0100%	4h	4.7500	+0.019%	$2.8M	$4.2M	50x	as long as short
MEXC LIT_USDT	+0.0100%	4h	4.7433	−0.122%	$5.8M	$3.8M	100x	as long as short
Bitget LITUSDT	+0.0100%	4h	4.7440	−0.107%	$6.8M	$2.6M	20x	as long as short
Backpack LIT_USDC_PERP	+0.0100%	1h	4.7426	−0.137%	$664K	$1.1M	5x	as long as short
edgeX LITUSDC	+0.0100%	4h	4.7604	+0.237%	$291K	$304K	10x	as long as short
ApeX Omni LITUSDT	+0.0100%	1h	4.7660	+0.356%	$57K	$74K	50x	as long as short
Polymarket Perps LIT-USD	+0.0100%	1h	4.7482	−0.019%	$446K	$84K	10x	as long as short
Derive LIT-PERP	+0.0100%	1h	4.7463	−0.058%	$2K	—	6.7x	as long as short
SunX LIT-USDT	+0.0100%	4h	4.7432	−0.124%	$4K	$1.1M	20x	as long as short
SoDEX LIT-USD	+0.0100%	1h	4.7427	−0.135%	$1K	$332K	5x	as long as short
HTX LIT-USDT	+0.0100%	4h	4.7785	+0.619%	$202K	$345K	30x	as long as short
Bulk LIT-USD	+0.0100%	1h	4.7306	−0.390%	$118K	$7K	10x	as long as short
Extended LIT-USD	+0.0104%	1h	4.7372	−0.251%	$5.2M	$4.9M	25x	as long as short
Aevo LIT-PERP	+0.0104%	1h	4.7490	−0.001%	$149K	—	3x	as long as short
Lighter RH LIT	+0.0176%	1h	4.7504	+0.027%	$3.7M	$13.0M	5x	as long as short
Aster LITUSDT	+0.0221%	4h	4.7476	−0.032%	$12.7M	$1.9M	50x	as long as short
BloFin LIT-USDT	+0.0340%	4h	4.7821	+0.695%	$1.6M	$2.0M	75x	as long as short
Aftermath Perps LITUSD	+0.0432%	1h	4.7603	+0.236%	$8K	$204K	10x	as long as short
GMX LIT/USD [ETH-USDC]	L +0.0439% / S −0.0231%	1h	4.7469	−0.046%	$66K	—	50x	as long as short
Perpl LIT	+0.0447%	43m	4.7540	+0.103%	$31K	$684K	33x	as long as short