LIT

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0113%/8h= −12.4% APRnext payment −$0.14 per $10,000 · paid last 24h −0.034%

Price spread now: Phoenix against Lighter−0.710%74s7-day average +0.022% · you buy dearer than you sell

Net, funding: paid 7d − costs−$56as 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−$420.417% of the position

Long on Lighter Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days−0.145%−$15 on $10k

Price spread, last 4 days (all we have)+1.241%+$124 · spread now −0.710%, 7d avg +0.022%

Together, before fees+1.096%+ Points / potential airdropLighter: Season 3 · farm board+$110 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Phoenix is 0.732% cheaper against Lighter than usual: you would sell low and buy high (−$73 if the spread goes back to its 7-day average of +0.022%). Swap the legs. The two prices were read 74 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	Lighter LIT	4.7903	0.0096	pay 0.0012% / 1h	28m 00s	$59.7M	$27.9M	5x
Short	Phoenix LIT	4.7563	−0.0017	pay 0.0002% / 1h	28m 00s	$205K	$283K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now −0.710%Rate

Funding earned: −$23.7
Price spread: −0.710% → +0.022%: −$73.22
Slippage, 4 orders: −$34.73
Fee Lighter: 0 bp × 2 orders: $0
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$138.66
Costs to cover: 0.417%
Break-even: never at this rate

Slippage from Lighter: live order book, 6 min ago; Phoenix: live order book, 18 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, 6 min ago	0.42 bp	5.7 bp −$6	17.9 bp −$179	doesn't fit	doesn't fit
Sell Phoenix live order book, 18 min ago	1.90 bp	16.1 bp −$16	50.3 bp −$503	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
Coinbase International LIT-PERP-INTX	−0.0448%	1h	4.7300	−1.258%	$612K	$347K	50x	as long as short
Orderly PERP_LIT_USDC	−0.0359%	4h	4.7690	−0.445%	$33K	$1K	10x	as long as short
Phemex LITUSDT	−0.0305%	4h	4.7830	−0.152%	$1.4M	$2.8M	20x	as long as short
01 Exchange LITUSD	−0.0240%	1h	4.7753	−0.313%	$31K	$4K	5x	as long as short
GRVT LIT_USDT_Perp	−0.0176%	4h	4.7470	−0.904%	$888K	$1.9M	10x	as long as short
Bullet LIT-USD	−0.0165%	1h	4.7728	−0.365%	$85K	$66K	20x	as long as short
OKX LIT-USDT-SWAP	−0.0135%	4h	4.7834	−0.144%	$25.8M	$61.3M	50x	as long as short
Deribit LIT_USDC-PERPETUAL	−0.0121%	1h	4.7748	−0.323%	$42K	$40K	10x	as long as short
Phoenix LITshort	−0.0017%	1h	4.7563	−0.710%	$205K	$283K	5x
RISEx LIT/USDC	−0.0012%	1h	4.7786	−0.244%	$824K	$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
Bybit LITUSDT	−0.0005%	4h	4.7847	−0.117%	$41.6M	$28.7M	75x	as long as short
dYdX LIT-USD	0.0000%	1h	4.7760	−0.298%	$34K	—	5x	as long as short
gTrade (Gains Network) LIT/USD	L +0.0003% / S −0.0002%	1h	4.7759	−0.300%	$11K	—	150x	as long as short
KuCoin LITUSDTM	+0.0022%	4h	4.7856	−0.098%	$5.3M	$1.0M	30x	as long as short
Injective LIT/USDC PERP	+0.0033%	1h	4.8040	+0.286%	$422	$178K	5.5x	as long as short
Paradex LIT-USD-PERP	+0.0094%	8h	4.7710	−0.403%	$7K	$2K	5x	as long as short
Lighter LITlong	+0.0096%	1h	4.7903	long leg	$59.7M	$27.9M	5x
Nado LIT-PERP	+0.0100%	1h	4.7705	−0.414%	$2.2M	$1.6M	10x	as long as short
Pacifica LIT	+0.0100%	1h	4.7745	−0.329%	$577K	$1.6M	10x	as long as short
Binance LITUSDT	+0.0100%	4h	4.7855	−0.101%	$76.9M	$76.7M	75x	as long as short
Arcus LIT-USD	+0.0100%	1h	4.7769	−0.280%	$118K	$462K	5x	as long as short
Bulk LIT-USD	+0.0100%	1h	4.7462	−0.921%	$118K	$7K	10x	as long as short
Gate LIT_USDT	+0.0100%	4h	4.7820	−0.173%	$2.8M	$4.2M	50x	as long as short
MEXC LIT_USDT	+0.0100%	4h	4.7830	−0.152%	$5.9M	$3.9M	100x	as long as short
Bitget LITUSDT	+0.0100%	4h	4.7890	−0.027%	$6.8M	$2.6M	20x	as long as short
Backpack LIT_USDC_PERP	+0.0100%	1h	4.7873	−0.063%	$671K	$1.1M	5x	as long as short
edgeX LITUSDC	+0.0100%	4h	4.7385	−1.081%	$290K	$305K	10x	as long as short
ApeX Omni LITUSDT	+0.0100%	1h	4.7420	−1.008%	$57K	$74K	50x	as long as short
Polymarket Perps LIT-USD	+0.0100%	1h	4.7740	−0.340%	$448K	$84K	10x	as long as short
Derive LIT-PERP	+0.0100%	1h	4.7760	−0.298%	$2K	—	6.7x	as long as short
SunX LIT-USDT	+0.0100%	4h	4.7708	−0.407%	$4K	$1.1M	20x	as long as short
SoDEX LIT-USD	+0.0100%	1h	4.7834	−0.144%	$1K	$330K	5x	as long as short
HTX LIT-USDT	+0.0100%	4h	4.7579	−0.676%	$201K	$337K	30x	as long as short
Extended LIT-USD	+0.0104%	1h	4.7822	−0.170%	$5.2M	$4.9M	25x	as long as short
Aevo LIT-PERP	+0.0104%	1h	4.7694	−0.436%	$149K	—	3x	as long as short
Hyperliquid LIT	+0.0126%	1h	4.7920	+0.035%	$214.6M	$40.7M	5x	as long as short
Lighter RH LIT	+0.0224%	1h	4.7932	+0.061%	$3.7M	$13.1M	5x	as long as short
Aster LITUSDT	+0.0226%	4h	4.7920	+0.036%	$12.8M	$1.9M	50x	as long as short
BloFin LIT-USDT	+0.0340%	4h	4.7743	−0.334%	$1.6M	$2.0M	75x	as long as short
Aftermath Perps LITUSD	+0.0428%	1h	4.7617	−0.598%	$8K	$203K	10x	as long as short
GMX LIT/USD [ETH-USDC]	L +0.0441% / S −0.0231%	1h	4.7758	−0.303%	$66K	—	50x	as long as short
Perpl LIT	+0.0447%	43m	4.7777	−0.264%	$32K	$679K	33x	as long as short