Funding arb · Price arb /

LIT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0506%/8h= −55.4% APRpaid last 24h −0.164%

Price spread now: Orderly against Lighter−0.090%7-day average — · you buy dearer than you sell

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

Long on Lighter 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 airdropLighter: Season 3 · farm boardneeds both histories

Both sides work against this trade now: funding costs −$15 a day on $10k at the current rate, and Orderly is 0.090% cheaper against Lighter than usual: you would sell low and buy high (−$9 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	Lighter LIT	4.6901	0.0096	pay 0.0012% / 1h	54m 22s	$58.6M	$28.4M	5x
Short	Orderly PERP_LIT_USDC	4.6859	−0.0410	pay 0.0205% / 4h	1h 54m	$32K	$1K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.090%Rate

Funding earned: −$106.32
Price spread: −0.090% → 0.000%: −$8.96
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$121.28
Costs to cover: 0.060%
Break-even: never at this rate

Slippage unknown: Lighter: live order book, 10 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 Lighter live order book, 10 min ago	0.64 bp	6.4 bp −$6	18.5 bp −$185	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 41 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
ApeX Omni LITUSDT	−0.1086%	1h	4.6680	−0.471%	$56K	$77K	50x	as long as short
Orderly PERP_LIT_USDCshort	−0.0410%	4h	4.6859	−0.090%	$32K	$1K	10x
01 Exchange LITUSD	−0.0296%	1h	4.6816	−0.181%	$33K	$4K	5x	as long as short
Bullet LIT-USD	−0.0229%	1h	4.6874	−0.058%	$84K	$67K	20x	as long as short
Deribit LIT_USDC-PERPETUAL	−0.0210%	1h	4.6919	+0.038%	$41K	$40K	10x	as long as short
Phoenix LIT	−0.0102%	1h	4.6902	+0.002%	$202K	$341K	5x	as long as short
GRVT LIT_USDT_Perp	−0.0076%	4h	4.6750	−0.322%	$890K	$1.7M	10x	as long as short
OKX LIT-USDT-SWAP	−0.0044%	4h	4.6936	+0.075%	$25.4M	$61.5M	50x	as long as short
KuCoin LITUSDTM	−0.0044%	4h	4.6851	−0.107%	$5.2M	$1.1M	30x	as long as short
Phemex LITUSDT	−0.0037%	4h	4.6800	−0.215%	$1.4M	$2.8M	20x	as long as short

Show all 41 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International LIT-PERP-INTX	−0.0024%	1h	4.6867	−0.072%	$663K	$366K	50x	as long as short
Gate LIT_USDT	−0.0018%	4h	4.6890	−0.023%	$2.7M	$4.2M	50x	as long as short
gTrade (Gains Network) LIT/USD	L +0.0003% / S −0.0002%	1h	4.6909	+0.016%	$11K	—	150x	as long as short
Backpack LIT_USDC_PERP	+0.0006%	1h	4.6844	−0.122%	$681K	$1.3M	5x	as long as short
Injective LIT/USDC PERP	+0.0033%	1h	4.8040	+2.429%	$422	$178K	5.5x	as long as short
dYdX LIT-USD	+0.0049%	1h	4.6872	−0.063%	$34K	—	5x	as long as short
Paradex LIT-USD-PERP	+0.0058%	8h	4.6827	−0.158%	$7K	$2K	5x	as long as short
Bulk LIT-USD	+0.0076%	1h	4.6847	−0.116%	$117K	$1K	10x	as long as short
Lighter LITlong	+0.0096%	1h	4.6901	long leg	$58.6M	$28.4M	5x
RISEx LIT/USDC	+0.0099%	1h	4.6872	−0.061%	$781K	$2.0M	5x	as long as short
Nado LIT-PERP	+0.0100%	1h	4.6860	−0.087%	$2.2M	$1.7M	10x	as long as short
Hyperliquid LIT	+0.0100%	1h	4.6898	−0.006%	$209.7M	$40.9M	5x	as long as short
Pacifica LIT	+0.0100%	1h	4.6879	−0.046%	$581K	$1.6M	10x	as long as short
Binance LITUSDT	+0.0100%	4h	4.6874	−0.058%	$74.6M	$78.2M	75x	as long as short
Bybit LITUSDT	+0.0100%	4h	4.6900	−0.002%	$41.6M	$28.6M	75x	as long as short
Arcus LIT-USD	+0.0100%	1h	4.6846	−0.117%	$117K	$446K	5x	as long as short
MEXC LIT_USDT	+0.0100%	4h	4.6840	−0.130%	$5.4M	$3.8M	100x	as long as short
Bitget LITUSDT	+0.0100%	4h	4.6910	+0.019%	$6.7M	$2.6M	20x	as long as short
edgeX LITUSDC	+0.0100%	4h	4.6739	−0.345%	$285K	$304K	10x	as long as short
Polymarket Perps LIT-USD	+0.0100%	1h	4.6862	−0.083%	$443K	$104K	10x	as long as short
Derive LIT-PERP	+0.0100%	1h	4.6931	+0.063%	$2K	—	6.7x	as long as short
SunX LIT-USDT	+0.0100%	4h	4.6828	−0.156%	$4K	$1.1M	20x	as long as short
SoDEX LIT-USD	+0.0100%	1h	4.6940	+0.083%	$1K	$416K	5x	as long as short
HTX LIT-USDT	+0.0100%	4h	4.6959	+0.124%	$191K	$359K	30x	as long as short
Extended LIT-USD	+0.0104%	1h	4.6904	+0.006%	$5.1M	$5.0M	25x	as long as short
Aevo LIT-PERP	+0.0104%	1h	4.6904	+0.007%	$147K	—	3x	as long as short
Aster LITUSDT	+0.0148%	4h	4.6898	−0.007%	$12.6M	$2.0M	50x	as long as short
Lighter RH LIT	+0.0168%	1h	4.6925	+0.051%	$3.7M	$13.0M	5x	as long as short
Aftermath Perps LITUSD	+0.0283%	1h	4.6925	+0.051%	$10K	$210K	10x	as long as short
GMX LIT/USD [ETH-USDC]	L +0.0408% / S −0.0204%	1h	4.6905	+0.009%	$63K	—	50x	as long as short
Perpl LIT	+0.0447%	43m	4.6886	−0.032%	$31K	$832K	33x	as long as short