Funding arb · Price arb /

LIT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.033%

Price spread now: Bitget against Phoenix−0.513%99s7-day average −0.087% · you buy dearer than you sell

Net, funding: paid 7d − costs−$91as 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−$890.889% of the position

Long on Phoenix Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.018%−$2 on $10k

Price spread, last 4 days (all we have)−2.649%−$265 · spread now −0.513%, 7d avg −0.087%

Together, before fees−2.667%−$267 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bitget is 0.426% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.513% now, against its 7-day average of −0.087%). If the spread goes back, that is −$43 on $10k: about 28 days of funding at the current rate (+$1 a day). The two prices were read 99 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	Phoenix LIT	4.8338	0.0050	pay 0.0006% / 1h	53m 50s	$207K	$288K	5x
Short	Bitget LITUSDT	4.8090	0.0100	get 0.0050% / 4h	3h 53m	$6.9M	$2.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Phoenix. 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 PhoenixbpFee BitgetbpOrdersPrice spread, now −0.513%Rate

Funding earned: $10.47
Price spread: −0.513% → −0.087%: −$42.6
Slippage, 4 orders: −$69.95
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$121.08
Costs to cover: 0.889%
Break-even: 88.0 days

Slippage from Phoenix: live order book, 42 min ago; Bitget: live order book, 4 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 Phoenix live order book, 42 min ago	2.09 bp	16.1 bp −$16	57.8 bp −$578	doesn't fit	doesn't fit
Sell Bitget live order book, 4 min ago	3.11 bp	22.4 bp −$22	128.0 bp −$1,280	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	−0.0588%	1h	4.8052	−0.593%	$42K	$39K	10x	as long as short
Orderly PERP_LIT_USDC	−0.0364%	4h	4.8000	−0.699%	$33K	$1K	10x	as long as short
Coinbase International LIT-PERP-INTX	−0.0304%	1h	4.7968	−0.766%	$608K	$349K	50x	as long as short
Bullet LIT-USD	−0.0291%	1h	4.8054	−0.587%	$86K	$66K	20x	as long as short
01 Exchange LITUSD	−0.0216%	1h	4.8016	−0.666%	$31K	$3K	5x	as long as short
OKX LIT-USDT-SWAP	−0.0163%	4h	4.8075	−0.544%	$26.0M	$59.6M	50x	as long as short
Bybit LITUSDT	−0.0145%	4h	4.8070	−0.554%	$41.8M	$27.5M	75x	as long as short
GRVT LIT_USDT_Perp	−0.0028%	4h	4.8071	−0.553%	$890K	$2.0M	10x	as long as short
dYdX LIT-USD	0.0000%	1h	4.8110	−0.471%	$35K	—	5x	as long as short
gTrade (Gains Network) LIT/USD	L +0.0003% / S −0.0003%	1h	4.8107	−0.478%	$36K	—	150x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni LITUSDT	+0.0016%	1h	4.8010	−0.679%	$57K	$76K	50x	as long as short
Injective LIT/USDC PERP	+0.0033%	1h	4.8040	−0.616%	$422	$178K	5.5x	as long as short
Phoenix LITlong	+0.0050%	1h	4.8338	long leg	$207K	$288K	5x
Paradex LIT-USD-PERP	+0.0096%	8h	4.8033	−0.631%	$7K	$2K	5x	as long as short
Lighter LIT	+0.0096%	1h	4.8121	−0.449%	$59.9M	$25.9M	5x	as long as short
Nado LIT-PERP	+0.0100%	1h	4.8061	−0.572%	$2.1M	$1.7M	10x	as long as short
Hyperliquid LIT	+0.0100%	1h	4.8160	−0.368%	$217.6M	$38.5M	5x	as long as short
Pacifica LIT	+0.0100%	1h	4.8093	−0.507%	$714K	$1.8M	10x	as long as short
Binance LITUSDT	+0.0100%	4h	4.8062	−0.571%	$77.1M	$73.7M	75x	as long as short
Arcus LIT-USD	+0.0100%	1h	4.8095	−0.503%	$126K	$448K	5x	as long as short
Bulk LIT-USD	+0.0100%	1h	4.8183	−0.321%	$120K	−$0	10x	as long as short
Gate LIT_USDT	+0.0100%	4h	4.8070	−0.554%	$2.8M	$4.0M	50x	as long as short
MEXC LIT_USDT	+0.0100%	4h	4.8054	−0.588%	$6.2M	$3.9M	100x	as long as short
KuCoin LITUSDTM	+0.0100%	4h	4.8063	−0.569%	$5.5M	$929K	30x	as long as short
Bitget LITUSDTshort	+0.0100%	4h	4.8090	−0.513%	$6.9M	$2.4M	20x
Backpack LIT_USDC_PERP	+0.0100%	1h	4.8093	−0.507%	$686K	$988K	5x	as long as short
edgeX LITUSDC	+0.0100%	4h	4.8278	−0.124%	$296K	$302K	10x	as long as short
Polymarket Perps LIT-USD	+0.0100%	1h	4.8116	−0.459%	$448K	$86K	10x	as long as short
Derive LIT-PERP	+0.0100%	1h	4.8239	−0.205%	$2K	$961	6.7x	as long as short
SunX LIT-USDT	+0.0100%	4h	4.8017	−0.664%	$4K	$1.1M	20x	as long as short
SoDEX LIT-USD	+0.0100%	1h	4.8060	−0.575%	$1K	$333K	5x	as long as short
HTX LIT-USDT	+0.0100%	4h	4.8185	−0.317%	$194K	$312K	30x	as long as short
Phemex LITUSDT	+0.0100%	4h	4.8030	−0.637%	$1.4M	$2.7M	20x	as long as short
Extended LIT-USD	+0.0104%	1h	4.8041	−0.614%	$5.1M	$5.2M	25x	as long as short
Aevo LIT-PERP	+0.0104%	1h	4.8046	−0.604%	$150K	—	3x	as long as short
RISEx LIT/USDC	+0.0118%	1h	4.8112	−0.468%	$801K	$2.3M	5x	as long as short
Lighter RH LIT	+0.0128%	1h	4.8140	−0.410%	$3.7M	$12.2M	5x	as long as short
Aster LITUSDT	+0.0306%	4h	4.8123	−0.445%	$12.9M	$2.0M	50x	as long as short
BloFin LIT-USDT	+0.0340%	4h	4.8000	−0.699%	$1.6M	$2.3M	75x	as long as short
GMX LIT/USD [ETH-USDC]	L +0.0426% / S −0.0217%	1h	4.8082	−0.530%	$64K	—	50x	as long as short
Perpl LIT	+0.0447%	43m	4.8114	−0.462%	$32K	$639K	33x	as long as short
Aftermath Perps LITUSD	+0.0488%	1h	4.8096	−0.500%	$10K	$202K	10x	as long as short