Funding you earn now, next payment 22:00 UTC−0.0401%/8h= −44.0% APRnext payment −$0.50 per $10,000 · paid last 24h +0.011%
Price spread now: Backpack against Polymarket Perps+0.059%7-day average +0.011% · you sell dearer than you buy
Net, funding: paid 7d − costs−$14as in the Funding arb table
Net, price: spread back to 7d avg − costs−$35as in the Price arb table
costs, in and out, $10k−$390.395% of the position
Funding, last 7 days+0.259%+$26 on $10k
+Price spread, last 3 days (all we have)−1.189%−$119 · spread now +0.059%, 7d avg +0.011%
=The price spread pays, funding is against you. Backpack is 0.048% dearer against Polymarket Perps than usual: you sell high and buy low (spread +0.059% now, against its 7-day average of +0.011%): +$5 on $10k if it goes back. Holding the pair costs −$12 a day in funding at the current rate, which eats that in about 10 hours. Mind the row above: over the last 7 days funding on this pair paid +0.259%, so the current rate has only just turned against you.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.259% in total (about 13.5% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.50 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Polymarket Perps LIT-USD | 4.7549 | 0.0033 | pay 0.0004% / 1h | 24m 38s | $449K | $105K | 10x |
| Short | Backpack LIT_USDC_PERP | 4.7577 | −0.0368 | pay 0.0046% / 1h | 24m 38s | $668K | $1.5M | 5x |
Polymarket Perps LIT-USD
Backpack LIT_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Polymarket Perps. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$84.3
- Price spread: +0.059% → +0.011%
- $4.78
- Slippage, 4 orders
- −$21.47
- Fee Polymarket Perps: 4 bp × 2 orders
- −$8
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$118.99
- Costs to cover
- 0.395%
- Break-even
- never at this rate
Slippage from Polymarket Perps: live order book, 62 min ago; Backpack: 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 Polymarket Perps live order book, 62 min ago | 4.24 bp | 16.1 bp −$16 | doesn't fit | doesn't fit | doesn't fit |
| Sell Backpack live order book, 4 min ago | 0.10 bp | 5.5 bp −$5 | 17.8 bp −$178 | 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 | −0.0727% | 1h | 4.7536 | −0.028% | $42K | $40K | 10x | as long as short |
| Gate LIT_USDT | −0.0696% | 4h | 4.7540 | −0.019% | $2.8M | $4.5M | 50x | as long as short |
| Orderly PERP_LIT_USDC | −0.0609% | 4h | 4.7473 | −0.160% | $32K | $2K | 10x | as long as short |
| 01 Exchange LITUSD | −0.0568% | 1h | 4.7476 | −0.154% | $33K | $4K | 5x | as long as short |
| Phemex LITUSDT | −0.0555% | 4h | 4.7520 | −0.061% | $1.3M | $2.7M | 20x | as long as short |
| Backpack LIT_USDC_PERPshort | −0.0368% | 1h | 4.7577 | +0.059% | $668K | $1.5M | 5x | |
| Bullet LIT-USD | −0.0360% | 1h | 4.7527 | −0.046% | $86K | $81K | 20x | as long as short |
| Bybit LITUSDT | −0.0328% | 4h | 4.7526 | −0.048% | $43.0M | $30.6M | 75x | as long as short |
| OKX LIT-USDT-SWAP | −0.0312% | 4h | 4.7513 | −0.076% | $25.0M | $61.9M | 50x | as long as short |
| KuCoin LITUSDTM | −0.0302% | 4h | 4.7577 | +0.059% | $5.3M | $1.1M | 30x | as long as short |
Deribit LIT_USDC-PERPETUAL
Gate LIT_USDT
Orderly PERP_LIT_USDC
01 Exchange LITUSD
Phemex LITUSDT
Bullet LIT-USD
Bybit LITUSDT
OKX LIT-USDT-SWAP
KuCoin LITUSDTMShow all 42 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT LIT_USDT_Perp | −0.0298% | 4h | 4.7580 | +0.065% | $908K | $1.9M | 10x | as long as short |
| Coinbase International LIT-PERP-INTX | −0.0152% | 1h | 4.7721 | +0.362% | $660K | $404K | 50x | as long as short |
| Phoenix LIT | −0.0050% | 1h | 4.7626 | +0.162% | $247K | $321K | 5x | as long as short |
| Paradex LIT-USD-PERP | −0.0019% | 8h | 4.7505 | −0.092% | $6K | $2K | 5x | as long as short |
| Extended LIT-USD | −0.0016% | 1h | 4.7513 | −0.076% | $5.3M | $5.1M | 25x | as long as short |
| dYdX LIT-USD | 0.0000% | 1h | 4.7559 | +0.021% | $34K | — | 5x | as long as short |
| gTrade (Gains Network) LIT/USD | L +0.0003% / S −0.0003% | 1h | 4.7568 | +0.039% | $35K | — | 150x | as long as short |
| RISEx LIT/USDC | +0.0009% | 1h | 4.7552 | +0.006% | $818K | $2.0M | 5x | as long as short |
| SoDEX LIT-USD | +0.0012% | 1h | 4.7520 | −0.061% | $1K | $487K | 5x | as long as short |
| Nado LIT-PERP | +0.0016% | 1h | 4.7480 | −0.145% | $2.1M | $1.7M | 10x | as long as short |
| Injective LIT/USDC PERP | +0.0033% | 1h | 4.8040 | +1.033% | $422 | $178K | 5.5x | as long as short |
| Polymarket Perps LIT-USDlong | +0.0033% | 1h | 4.7549 | long leg | $449K | $105K | 10x | |
| edgeX LITUSDC | +0.0033% | 4h | 4.7572 | +0.048% | $289K | $310K | 10x | as long as short |
| MEXC LIT_USDT | +0.0034% | 4h | 4.7511 | −0.080% | $5.8M | $4.2M | 100x | as long as short |
| Binance LITUSDT | +0.0036% | 4h | 4.7517 | −0.067% | $75.1M | $81.3M | 75x | as long as short |
| Bulk LIT-USD | +0.0037% | 1h | 4.7479 | −0.147% | $119K | $6K | 10x | as long as short |
| Aevo LIT-PERP | +0.0048% | 1h | 4.7548 | −0.002% | $149K | $44K | 3x | as long as short |
| Aftermath Perps LITUSD | +0.0089% | 1h | 4.7526 | −0.049% | $12K | $199K | 10x | as long as short |
| Lighter LIT | +0.0096% | 1h | 4.7606 | +0.120% | $59.7M | $30.1M | 5x | as long as short |
| Hyperliquid LIT | +0.0100% | 1h | 4.7606 | +0.120% | $211.4M | $45.0M | 5x | as long as short |
| Aster LITUSDT | +0.0100% | 4h | 4.7563 | +0.029% | $12.7M | $2.5M | 50x | as long as short |
| Pacifica LIT | +0.0100% | 1h | 4.7570 | +0.044% | $583K | $1.8M | 10x | as long as short |
| Arcus LIT-USD | +0.0100% | 1h | 4.7533 | −0.034% | $118K | $446K | 5x | as long as short |
| Bitget LITUSDT | +0.0100% | 4h | 4.7580 | +0.065% | $6.7M | $2.7M | 20x | as long as short |
| ApeX Omni LITUSDT | +0.0100% | 1h | 4.7580 | +0.065% | $56K | $77K | 50x | as long as short |
| Derive LIT-PERP | +0.0100% | 1h | 4.7569 | +0.042% | $2K | $1K | 6.7x | as long as short |
| SunX LIT-USDT | +0.0100% | 4h | 4.7564 | +0.032% | $4K | $1.2M | 20x | as long as short |
| HTX LIT-USDT | +0.0100% | 4h | 4.7590 | +0.086% | $190K | $329K | 30x | as long as short |
| Perpl LIT | +0.0112% | 43m | 4.7553 | +0.008% | $31K | $838K | 33x | as long as short |
| BloFin LIT-USDT | +0.0138% | 4h | 4.7511 | −0.080% | $1.5M | $2.1M | 75x | as long as short |
| GMX LIT/USD [ETH-USDC] | L +0.0358% / S −0.0155% | 1h | 4.7562 | +0.028% | $60K | — | 50x | as long as short |
| Lighter RH LIT | +0.0400% | 1h | 4.7624 | +0.158% | $3.7M | $14.2M | 5x | as long as short |
GRVT LIT_USDT_Perp
Coinbase International LIT-PERP-INTX
Phoenix LIT
Paradex LIT-USD-PERP
Extended LIT-USD
dYdX LIT-USD
gTrade (Gains Network) LIT/USD
RISEx LIT/USDC
SoDEX LIT-USD
Nado LIT-PERP
Injective LIT/USDC PERP
edgeX LITUSDC
MEXC LIT_USDT
Binance LITUSDT
Bulk LIT-USD
Aevo LIT-PERP
Aftermath Perps LITUSD
Lighter LIT
Hyperliquid LIT
Aster LITUSDT
Pacifica LIT
Arcus LIT-USD
Bitget LITUSDT
ApeX Omni LITUSDT
Derive LIT-PERP
SunX LIT-USDT
HTX LIT-USDT
Perpl LIT
BloFin LIT-USDT
GMX LIT/USD [ETH-USDC]
Lighter RH LIT