Funding arb · Price arb /

LIT

all LIT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0113%/8h= +12.3% APRpaid last 24h +0.080%

Price spread now: Lighter against Phemex+0.037%7-day average +0.148% · you sell dearer than you buy

Net, funding: paid 7d − costs−$35as in the Funding arb table

Net, price: spread back to 7d avg − costs−$83as in the Price arb table

costs, in and out, $10k−$720.718% of the position

Long on Phemex Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.363%+$36 on $10k

Price spread, last 4 days (all we have)+0.373%+$37 · spread now +0.037%, 7d avg +0.148%

Together, before fees+0.737%+ Points / potential airdropLighter: Season 3 · farm board+$74 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.110% cheaper against Phemex than usual: you would sell low and buy high (spread +0.037% now, against its 7-day average of +0.148%). If the spread goes back, that is −$11 on $10k: about 3.3 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex LITUSDT	4.8020	−0.0017	get 0.0008% / 4h	3h 40m	$1.4M	$2.7M	20x
Short	Lighter LIT	4.8038	0.0096	get 0.0012% / 1h	40m 39s	$59.8M	$26.0M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.037%Rate

Funding earned: $23.63
Price spread: +0.037% → +0.148%: −$11.03
Slippage, 4 orders: −$59.83
Fee Phemex: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$59.23
Costs to cover: 0.718%
Break-even: 24.5 days

Slippage from Phemex: live order book, 3 min ago; Lighter: live order book, 8 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 Phemex live order book, 3 min ago	3.12 bp	32.4 bp −$32	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 8 min ago	0.93 bp	4.0 bp −$4	13.5 bp −$135	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
GRVT LIT_USDT_Perp	−0.0680%	4h	4.8081	+0.127%	$896K	$2.0M	10x	as long as short
Deribit LIT_USDC-PERPETUAL	−0.0589%	1h	4.8015	−0.010%	$42K	$39K	10x	as long as short
01 Exchange LITUSD	−0.0464%	1h	4.7910	−0.229%	$31K	$3K	5x	as long as short
Orderly PERP_LIT_USDC	−0.0389%	4h	4.7947	−0.152%	$33K	$313	10x	as long as short
Coinbase International LIT-PERP-INTX	−0.0304%	1h	4.8240	+0.458%	$611K	$351K	50x	as long as short
Bullet LIT-USD	−0.0303%	1h	4.8012	−0.017%	$86K	$66K	20x	as long as short
OKX LIT-USDT-SWAP	−0.0172%	4h	4.7997	−0.048%	$25.9M	$59.3M	50x	as long as short
Bybit LITUSDT	−0.0106%	4h	4.7978	−0.087%	$41.7M	$27.4M	75x	as long as short
Gate LIT_USDT	−0.0018%	4h	4.8020	0.000%	$2.8M	$4.0M	50x	as long as short
Phemex LITUSDTlong	−0.0017%	4h	4.8020	long leg	$1.4M	$2.7M	20x

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX LIT-USD	0.0000%	1h	4.8022	+0.004%	$34K	—	5x	as long as short
gTrade (Gains Network) LIT/USD	L +0.0003% / S −0.0003%	1h	4.8025	+0.011%	$36K	—	150x	as long as short
Nado LIT-PERP	+0.0005%	1h	4.8025	+0.010%	$2.1M	$1.6M	10x	as long as short
ApeX Omni LITUSDT	+0.0013%	1h	4.8120	+0.208%	$57K	$75K	50x	as long as short
Phoenix LIT	+0.0017%	1h	4.8150	+0.271%	$207K	$288K	5x	as long as short
Injective LIT/USDC PERP	+0.0033%	1h	4.8040	+0.042%	$422	$178K	5.5x	as long as short
Lighter LITshort	+0.0096%	1h	4.8038	+0.037%	$59.8M	$26.0M	5x
Lighter RH LIT	+0.0096%	1h	4.8058	+0.079%	$3.7M	$12.2M	5x	as long as short
Paradex LIT-USD-PERP	+0.0097%	8h	4.7993	−0.057%	$7K	$2K	5x	as long as short
Hyperliquid LIT	+0.0100%	1h	4.8041	+0.044%	$217.0M	$38.6M	5x	as long as short
Pacifica LIT	+0.0100%	1h	4.8000	−0.042%	$683K	$1.9M	10x	as long as short
Binance LITUSDT	+0.0100%	4h	4.7960	−0.125%	$77.0M	$73.4M	75x	as long as short
Arcus LIT-USD	+0.0100%	1h	4.8038	+0.037%	$127K	$436K	5x	as long as short
Bulk LIT-USD	+0.0100%	1h	4.8200	+0.375%	$122K	$2K	10x	as long as short
MEXC LIT_USDT	+0.0100%	4h	4.7961	−0.123%	$6.2M	$3.9M	100x	as long as short
KuCoin LITUSDTM	+0.0100%	4h	4.8085	+0.135%	$5.5M	$923K	30x	as long as short
Bitget LITUSDT	+0.0100%	4h	4.7990	−0.062%	$6.9M	$2.4M	20x	as long as short
Backpack LIT_USDC_PERP	+0.0100%	1h	4.8021	+0.002%	$685K	$987K	5x	as long as short
edgeX LITUSDC	+0.0100%	4h	4.8110	+0.186%	$294K	$304K	10x	as long as short
Polymarket Perps LIT-USD	+0.0100%	1h	4.8062	+0.087%	$448K	$85K	10x	as long as short
Derive LIT-PERP	+0.0100%	1h	4.8031	+0.022%	$2K	$961	6.7x	as long as short
SunX LIT-USDT	+0.0100%	4h	4.7968	−0.108%	$5K	$1.1M	20x	as long as short
SoDEX LIT-USD	+0.0100%	1h	4.8009	−0.023%	$1K	$332K	5x	as long as short
HTX LIT-USDT	+0.0100%	4h	4.8160	+0.292%	$193K	$313K	30x	as long as short
Extended LIT-USD	+0.0104%	1h	4.7953	−0.140%	$5.1M	$5.2M	25x	as long as short
Aevo LIT-PERP	+0.0104%	1h	4.8001	−0.039%	$150K	—	3x	as long as short
RISEx LIT/USDC	+0.0118%	1h	4.8053	+0.068%	$800K	$2.3M	5x	as long as short
Aster LITUSDT	+0.0283%	4h	4.8044	+0.049%	$12.9M	$2.0M	50x	as long as short
Perpl LIT	+0.0335%	43m	4.8087	+0.139%	$32K	$632K	33x	as long as short
BloFin LIT-USDT	+0.0340%	4h	4.7960	−0.125%	$1.6M	$2.3M	75x	as long as short
GMX LIT/USD [ETH-USDC]	L +0.0426% / S −0.0217%	1h	4.8119	+0.206%	$64K	—	50x	as long as short
Aftermath Perps LITUSD	+0.0494%	1h	4.8149	+0.269%	$10K	$201K	10x	as long as short