Funding arb · Price arb /

LIT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.026%

Price spread now: Backpack against MEXC+0.052%7-day average +0.235% · you sell dearer than you buy

Net, funding: paid 7d − costs−$8as in the Funding arb table

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$190.190% of the position

Long on MEXC Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.109%+$11 on $10k

Price spread, last 7 days−3.147%−$315 · spread now +0.052%, 7d avg +0.235%

Together, before fees−3.038%−$304 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Backpack is 0.183% cheaper against MEXC than usual: you would sell low and buy high, −$18 on $10k if it goes back to its 7-day average of +0.235%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC LIT_USDT	4.8117	0.0100	pay 0.0050% / 4h	3h 45m	$6.3M	$3.9M	100x
Short	Backpack LIT_USDC_PERP	4.8142	0.0100	get 0.0013% / 1h	45m 51s	$686K	$988K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against MEXC. 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 MEXCbpFee BackpackbpOrdersPrice spread, now +0.052%Rate

Funding earned: $0
Price spread: +0.052% → +0.235%: −$18.3
Slippage, 4 orders: −$5
Fee MEXC: 2 bp × 2 orders: −$4
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$37.3
Costs to cover: 0.190%
Break-even: never at this rate

Slippage from MEXC: live order book, 2 min ago; Backpack: 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 MEXC live order book, 2 min ago	0.10 bp	3.3 bp −$3	51.3 bp −$513	250.9 bp −$25.1K	doesn't fit
Sell Backpack live order book, 18 min ago	0.10 bp	5.6 bp −$6	14.7 bp −$147	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
Deribit LIT_USDC-PERPETUAL	−0.0622%	1h	4.8133	+0.034%	$42K	$39K	10x	as long as short
Orderly PERP_LIT_USDC	−0.0373%	4h	4.8117	0.000%	$33K	$1K	10x	as long as short
01 Exchange LITUSD	−0.0328%	1h	4.8094	−0.048%	$31K	$3K	5x	as long as short
Coinbase International LIT-PERP-INTX	−0.0304%	1h	4.8240	+0.256%	$611K	$351K	50x	as long as short
Bullet LIT-USD	−0.0302%	1h	4.8117	0.000%	$86K	$66K	20x	as long as short
GRVT LIT_USDT_Perp	−0.0170%	4h	4.8272	+0.323%	$899K	$2.0M	10x	as long as short
OKX LIT-USDT-SWAP	−0.0169%	4h	4.8140	+0.048%	$26.0M	$59.6M	50x	as long as short
dYdX LIT-USD	0.0000%	1h	4.8200	+0.173%	$35K	—	5x	as long as short
gTrade (Gains Network) LIT/USD	L +0.0003% / S −0.0003%	1h	4.8218	+0.211%	$36K	—	150x	as long as short
Phoenix LIT	+0.0017%	1h	4.8200	+0.172%	$207K	$288K	5x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective LIT/USDC PERP	+0.0033%	1h	4.8040	−0.160%	$422	$178K	5.5x	as long as short
Phemex LITUSDT	+0.0049%	4h	4.8150	+0.069%	$1.4M	$2.7M	20x	as long as short
Bybit LITUSDT	+0.0088%	4h	4.8141	+0.050%	$41.9M	$27.4M	75x	as long as short
Lighter LIT	+0.0096%	1h	4.8189	+0.150%	$60.0M	$26.0M	5x	as long as short
Lighter RH LIT	+0.0096%	1h	4.8202	+0.177%	$3.7M	$12.2M	5x	as long as short
Paradex LIT-USD-PERP	+0.0096%	8h	4.8171	+0.113%	$7K	$2K	5x	as long as short
Nado LIT-PERP	+0.0100%	1h	4.8165	+0.100%	$2.1M	$1.7M	10x	as long as short
Hyperliquid LIT	+0.0100%	1h	4.8197	+0.167%	$217.8M	$38.6M	5x	as long as short
Pacifica LIT	+0.0100%	1h	4.8163	+0.096%	$685K	$1.9M	10x	as long as short
Binance LITUSDT	+0.0100%	4h	4.8125	+0.017%	$77.3M	$73.6M	75x	as long as short
Arcus LIT-USD	+0.0100%	1h	4.8186	+0.143%	$127K	$443K	5x	as long as short
Bulk LIT-USD	+0.0100%	1h	4.8200	+0.172%	$122K	$2K	10x	as long as short
Gate LIT_USDT	+0.0100%	4h	4.8180	+0.131%	$2.8M	$4.0M	50x	as long as short
MEXC LIT_USDTlong	+0.0100%	4h	4.8117	long leg	$6.3M	$3.9M	100x
KuCoin LITUSDTM	+0.0100%	4h	4.8222	+0.218%	$5.5M	$924K	30x	as long as short
Bitget LITUSDT	+0.0100%	4h	4.8150	+0.069%	$6.9M	$2.4M	20x	as long as short
Backpack LIT_USDC_PERPshort	+0.0100%	1h	4.8142	+0.052%	$686K	$988K	5x
edgeX LITUSDC	+0.0100%	4h	4.8317	+0.416%	$296K	$303K	10x	as long as short
ApeX Omni LITUSDT	+0.0100%	1h	4.8250	+0.276%	$58K	$75K	50x	as long as short
Polymarket Perps LIT-USD	+0.0100%	1h	4.8210	+0.193%	$449K	$85K	10x	as long as short
Derive LIT-PERP	+0.0100%	1h	4.8317	+0.415%	$2K	$961	6.7x	as long as short
SunX LIT-USDT	+0.0100%	4h	4.8119	+0.004%	$5K	$1.1M	20x	as long as short
SoDEX LIT-USD	+0.0100%	1h	4.8137	+0.042%	$1K	$333K	5x	as long as short
HTX LIT-USDT	+0.0100%	4h	4.8223	+0.220%	$194K	$313K	30x	as long as short
Extended LIT-USD	+0.0104%	1h	4.8143	+0.053%	$5.2M	$5.2M	25x	as long as short
Aevo LIT-PERP	+0.0104%	1h	4.8169	+0.109%	$151K	—	3x	as long as short
RISEx LIT/USDC	+0.0118%	1h	4.8199	+0.170%	$803K	$2.3M	5x	as long as short
Aster LITUSDT	+0.0314%	4h	4.8215	+0.203%	$12.9M	$2.0M	50x	as long as short
Perpl LIT	+0.0335%	43m	4.8235	+0.244%	$32K	$634K	33x	as long as short
BloFin LIT-USDT	+0.0340%	4h	4.8142	+0.052%	$1.6M	$2.3M	75x	as long as short
GMX LIT/USD [ETH-USDC]	L +0.0426% / S −0.0217%	1h	4.8205	+0.182%	$64K	—	50x	as long as short
Aftermath Perps LITUSD	+0.0468%	1h	4.8209	+0.192%	$9K	$201K	10x	as long as short