Funding arb · Price arb /

LIT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0571%/8h= −62.6% APRpaid last 24h −0.120%

Price spread now: Deribit against Phemex−0.038%7-day average — · you buy dearer than you sell

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

Long on Phemex Short on Deribit

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—needs both histories

Both sides work against this trade now: funding costs −$17 a day on $10k at the current rate, and Deribit is 0.038% cheaper against Phemex than usual: you would sell low and buy high (−$4 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	Phemex LITUSDT	4.6880	−0.0023	get 0.0011% / 4h	1h 05m	$1.4M	$2.8M	20x
Short	Deribit LIT_USDC-PERPETUAL	4.6862	−0.0594	pay 0.0074% / 1h	5m 42s	$41K	$40K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Phemex. 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 PhemexbpFee DeribitbpOrdersPrice spread, now −0.038%Rate

Funding earned: −$120
Price spread: −0.038% → 0.000%: −$3.78
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$142.78
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Phemex: live order book, 3 min ago; Deribit: 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 Phemex live order book, 3 min ago	5.33 bp	28.4 bp −$28	doesn't fit	doesn't fit	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: 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 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-PERPETUALshort	−0.0594%	1h	4.6862	−0.038%	$41K	$40K	10x
Orderly PERP_LIT_USDC	−0.0380%	4h	4.6820	−0.128%	$32K	$1K	10x	as long as short
01 Exchange LITUSD	−0.0320%	1h	4.6830	−0.107%	$33K	$4K	5x	as long as short
Bullet LIT-USD	−0.0263%	1h	4.6881	+0.001%	$84K	$68K	20x	as long as short
ApeX Omni LITUSDT	−0.0115%	1h	4.6900	+0.043%	$56K	$76K	50x	as long as short
Gate LIT_USDT	−0.0098%	4h	4.6890	+0.021%	$2.7M	$4.3M	50x	as long as short
Phoenix LIT	−0.0085%	1h	4.7010	+0.277%	$202K	$341K	5x	as long as short
Coinbase International LIT-PERP-INTX	−0.0024%	1h	4.6800	−0.172%	$611K	$411K	50x	as long as short
Phemex LITUSDTlong	−0.0023%	4h	4.6880	long leg	$1.4M	$2.8M	20x
gTrade (Gains Network) LIT/USD	L +0.0003% / S −0.0002%	1h	4.6933	+0.112%	$11K	—	150x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX LIT-USD	+0.0005%	1h	4.6851	−0.062%	$34K	—	5x	as long as short
OKX LIT-USDT-SWAP	+0.0016%	4h	4.6850	−0.064%	$25.2M	$61.6M	50x	as long as short
KuCoin LITUSDTM	+0.0032%	4h	4.6900	+0.043%	$5.2M	$1.0M	30x	as long as short
Injective LIT/USDC PERP	+0.0033%	1h	4.8040	+2.474%	$422	$178K	5.5x	as long as short
Bybit LITUSDT	+0.0056%	4h	4.6820	−0.128%	$41.6M	$28.5M	75x	as long as short
Paradex LIT-USD-PERP	+0.0065%	8h	4.6833	−0.100%	$7K	$2K	5x	as long as short
GRVT LIT_USDT_Perp	+0.0082%	4h	4.6940	+0.128%	$917K	$1.8M	10x	as long as short
Lighter LIT	+0.0096%	1h	4.6871	−0.019%	$58.4M	$28.9M	5x	as long as short
Lighter RH LIT	+0.0096%	1h	4.6894	+0.030%	$3.6M	$13.4M	5x	as long as short
RISEx LIT/USDC	+0.0099%	1h	4.6921	+0.086%	$782K	$2.1M	5x	as long as short
Nado LIT-PERP	+0.0100%	1h	4.6905	+0.052%	$2.2M	$1.7M	10x	as long as short
Hyperliquid LIT	+0.0100%	1h	4.6919	+0.083%	$209.7M	$41.8M	5x	as long as short
Pacifica LIT	+0.0100%	1h	4.6878	−0.004%	$578K	$1.6M	10x	as long as short
Binance LITUSDT	+0.0100%	4h	4.6809	−0.151%	$74.6M	$78.9M	75x	as long as short
Arcus LIT-USD	+0.0100%	1h	4.6887	+0.015%	$122K	$454K	5x	as long as short
MEXC LIT_USDT	+0.0100%	4h	4.6825	−0.117%	$5.5M	$3.9M	100x	as long as short
Bitget LITUSDT	+0.0100%	4h	4.6840	−0.085%	$6.8M	$2.6M	20x	as long as short
Backpack LIT_USDC_PERP	+0.0100%	1h	4.6913	+0.070%	$665K	$1.4M	5x	as long as short
edgeX LITUSDC	+0.0100%	4h	4.6901	+0.045%	$286K	$303K	10x	as long as short
Polymarket Perps LIT-USD	+0.0100%	1h	4.6890	+0.021%	$438K	$110K	10x	as long as short
Derive LIT-PERP	+0.0100%	1h	4.6895	+0.033%	$2K	—	6.7x	as long as short
SunX LIT-USDT	+0.0100%	4h	4.6845	−0.075%	$4K	$1.2M	20x	as long as short
SoDEX LIT-USD	+0.0100%	1h	4.6880	0.000%	$2K	$397K	5x	as long as short
HTX LIT-USDT	+0.0100%	4h	4.7003	+0.262%	$199K	$388K	30x	as long as short
Bulk LIT-USD	+0.0100%	1h	4.7305	+0.907%	$118K	$973	10x	as long as short
Extended LIT-USD	+0.0104%	1h	4.6833	−0.101%	$5.2M	$5.0M	25x	as long as short
Aevo LIT-PERP	+0.0104%	1h	4.6874	−0.013%	$147K	—	3x	as long as short
Aftermath Perps LITUSD	+0.0205%	1h	4.6997	+0.250%	$9K	$205K	10x	as long as short
Aster LITUSDT	+0.0210%	4h	4.6950	+0.148%	$12.6M	$2.0M	50x	as long as short
BloFin LIT-USDT	+0.0340%	4h	4.6840	−0.085%	$1.5M	$1.9M	75x	as long as short
GMX LIT/USD [ETH-USDC]	L +0.0416% / S −0.0214%	1h	4.6916	+0.078%	$63K	—	50x	as long as short
Perpl LIT	+0.0447%	43m	4.6917	+0.078%	$31K	$806K	33x	as long as short