Funding arb · Price arb /

LIT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.061%

Price spread now: Injective against Phemex+2.365%65s7-day average −9.783% · you sell dearer than you buy

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

Long on Phemex Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.078%+$8 on $10k

Price spread, last 4 days (all we have)−17.440%−$1,744 · spread now +2.365%, 7d avg −9.783%

Together, before fees−17.363%−$1,736 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Injective is 12.148% dearer against Phemex than usual: you sell high and buy low: +$1,215 more if the spread goes back to its 7-day average of −9.783%. The two prices were read 65 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	Phemex LITUSDT	4.6930	−0.0017	get 0.0008% / 4h	1h 07m	$1.4M	$2.8M	20x
Short	Injective LIT/USDC PERP	4.8040	0.0033	get 0.0004% / 1h	7m 36s	$422	$178K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Phemex. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 InjectivebpOrdersPrice spread, now +2.365%Rate

Funding earned: $10.54
Price spread: +2.365% → −9.783%: $1,214.78
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $1,213.29
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Phemex: live order book, 6 min ago; Injective: 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, 6 min ago	6.38 bp	32.4 bp −$32	doesn't fit	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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-PERPETUAL	−0.0472%	1h	4.6940	+0.021%	$41K	$40K	10x	as long as short
Orderly PERP_LIT_USDC	−0.0377%	4h	4.6892	−0.081%	$32K	$1K	10x	as long as short
01 Exchange LITUSD	−0.0312%	1h	4.6840	−0.192%	$33K	$4K	5x	as long as short
Bullet LIT-USD	−0.0261%	1h	4.6929	−0.001%	$84K	$68K	20x	as long as short
ApeX Omni LITUSDT	−0.0115%	1h	4.6900	−0.064%	$56K	$76K	50x	as long as short
Gate LIT_USDT	−0.0098%	4h	4.6930	0.000%	$2.8M	$4.3M	50x	as long as short
Phoenix LIT	−0.0085%	1h	4.7010	+0.170%	$202K	$341K	5x	as long as short
Coinbase International LIT-PERP-INTX	−0.0024%	1h	4.6800	−0.278%	$611K	$411K	50x	as long as short
Phemex LITUSDTlong	−0.0017%	4h	4.6930	long leg	$1.4M	$2.8M	20x
gTrade (Gains Network) LIT/USD	L +0.0003% / S −0.0002%	1h	4.6978	+0.102%	$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	4.6921	−0.020%	$34K	—	5x	as long as short
OKX LIT-USDT-SWAP	+0.0018%	4h	4.6848	−0.175%	$25.2M	$61.6M	50x	as long as short
Injective LIT/USDC PERPshort	+0.0033%	1h	4.8040	+2.365%	$422	$178K	5.5x
KuCoin LITUSDTM	+0.0038%	4h	4.6966	+0.077%	$5.2M	$1.0M	30x	as long as short
Paradex LIT-USD-PERP	+0.0069%	8h	4.6888	−0.089%	$7K	$2K	5x	as long as short
Bybit LITUSDT	+0.0070%	4h	4.6846	−0.179%	$41.6M	$28.5M	75x	as long as short
GRVT LIT_USDT_Perp	+0.0082%	4h	4.6940	+0.021%	$917K	$1.8M	10x	as long as short
Lighter LIT	+0.0096%	1h	4.6943	+0.028%	$58.5M	$28.9M	5x	as long as short
Lighter RH LIT	+0.0096%	1h	4.6962	+0.068%	$3.6M	$13.4M	5x	as long as short
RISEx LIT/USDC	+0.0099%	1h	4.6910	−0.043%	$782K	$2.1M	5x	as long as short
Nado LIT-PERP	+0.0100%	1h	4.6825	−0.224%	$2.2M	$1.7M	10x	as long as short
Hyperliquid LIT	+0.0100%	1h	4.6946	+0.034%	$209.8M	$41.8M	5x	as long as short
Pacifica LIT	+0.0100%	1h	4.6921	−0.019%	$579K	$1.6M	10x	as long as short
Binance LITUSDT	+0.0100%	4h	4.6840	−0.192%	$74.7M	$78.9M	75x	as long as short
Arcus LIT-USD	+0.0100%	1h	4.6906	−0.051%	$122K	$454K	5x	as long as short
MEXC LIT_USDT	+0.0100%	4h	4.6886	−0.094%	$5.5M	$3.9M	100x	as long as short
Bitget LITUSDT	+0.0100%	4h	4.6870	−0.128%	$6.8M	$2.6M	20x	as long as short
Backpack LIT_USDC_PERP	+0.0100%	1h	4.6960	+0.064%	$665K	$1.4M	5x	as long as short
edgeX LITUSDC	+0.0100%	4h	4.6901	−0.061%	$286K	$303K	10x	as long as short
Polymarket Perps LIT-USD	+0.0100%	1h	4.6898	−0.068%	$438K	$110K	10x	as long as short
Derive LIT-PERP	+0.0100%	1h	4.6974	+0.093%	$2K	—	6.7x	as long as short
SunX LIT-USDT	+0.0100%	4h	4.6918	−0.026%	$4K	$1.2M	20x	as long as short
SoDEX LIT-USD	+0.0100%	1h	4.6944	+0.030%	$2K	$397K	5x	as long as short
HTX LIT-USDT	+0.0100%	4h	4.7003	+0.156%	$199K	$388K	30x	as long as short
Bulk LIT-USD	+0.0100%	1h	4.7305	+0.799%	$118K	$973	10x	as long as short
Extended LIT-USD	+0.0104%	1h	4.6863	−0.144%	$5.2M	$5.0M	25x	as long as short
Aevo LIT-PERP	+0.0104%	1h	4.6938	+0.017%	$147K	—	3x	as long as short
Aftermath Perps LITUSD	+0.0195%	1h	4.7034	+0.223%	$9K	$205K	10x	as long as short
Aster LITUSDT	+0.0215%	4h	4.6959	+0.062%	$12.6M	$2.0M	50x	as long as short
BloFin LIT-USDT	+0.0340%	4h	4.6917	−0.028%	$1.5M	$1.9M	75x	as long as short
GMX LIT/USD [ETH-USDC]	L +0.0416% / S −0.0214%	1h	4.6970	+0.085%	$63K	—	50x	as long as short
Perpl LIT	+0.0447%	43m	4.6979	+0.105%	$31K	$806K	33x	as long as short