Funding arb · Price arb /

LTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.025%

Price spread now: Kalshi against Backpack−0.002%7-day average +0.039% · you buy dearer than you sell

Net, funding: paid 7d − costs−$47as in the Funding arb table

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$340.341% of the position

Long on Backpack Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.127%−$13 on $10k

Price spread, last 4 days (all we have)+0.382%+$38 · spread now −0.002%, 7d avg +0.039%

Together, before fees+0.254%+$25 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Kalshi is 0.041% cheaper against Backpack than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.039%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack LTC_USDC_PERP	61.569	0.0100	pay 0.0013% / 1h	14m 42s	$158K	$266K	10x
Short	Kalshi KXLTCPERP	61.568	0	get 0.0000% / 8h	5h 14m	$339K	$4.1M	4x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Backpack. 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 BackpackbpFee KalshibpOrdersPrice spread, now −0.002%Rate

Funding earned: −$21
Price spread: −0.002% → +0.039%: −$4.11
Slippage, 4 orders: −$14.1
Fee Backpack: 5 bp × 2 orders: −$10
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$59.21
Costs to cover: 0.341%
Break-even: never at this rate

Slippage from Backpack: live order book, 4 min ago; Kalshi: 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 Backpack live order book, 4 min ago	0.08 bp	6.3 bp −$6	doesn't fit	doesn't fit	doesn't fit
Sell Kalshi live order book, 4 min ago	2.19 bp	12.0 bp −$12	18.8 bp −$188	doesn't fit	doesn't fit

LTC on 37 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
GMX LTC/USD [ETH-USDC]	L −0.0074% / S +0.0277%	1h	61.556	−0.021%	$112K	—	200x	as long as short
Variational Omni LTC	−0.0062%	8h	61.507	−0.100%	$3.6M	$4.0M	—	as long as short
Kalshi KXLTCPERPshort	0.0000%	8h	61.568	−0.002%	$339K	$4.1M	4x
gTrade (Gains Network) LTC/USD	L +0.0002% / S −0.0003%	1h	61.558	−0.019%	$30K	—	150x	as long as short
Injective LTC/USDC PERP	+0.0033%	1h	58.730	−4.611%	$5K	$22K	12x	as long as short
Gate LTC_USDT	+0.0045%	8h	61.600	+0.050%	$12.9M	$21.2M	75x	as long as short
Polymarket Perps LTC-USD	+0.0072%	1h	61.522	−0.076%	$85K	$378K	10x	as long as short
Kraken Futures PF_LTCUSD	+0.0087%	1h	61.621	+0.084%	$6.8M	$5.8M	50x	as long as short
Orderly PERP_LTC_USDC	+0.0100%	8h	61.560	−0.015%	$12K	$213K	20x	as long as short
Paradex LTC-USD-PERP	+0.0100%	8h	61.561	−0.013%	$14K	$10K	20x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado LTC-PERP	+0.0100%	1h	61.545	−0.039%	$253K	$321K	10x	as long as short
Hyperliquid LTC	+0.0100%	1h	61.627	+0.094%	$37.4M	$23.8M	10x	as long as short
Aster LTCUSDT	+0.0100%	8h	61.650	+0.131%	$2.6M	$2.2M	75x	as long as short
Pacifica LTC	+0.0100%	1h	61.596	+0.043%	$539K	$84K	10x	as long as short
Binance LTCUSDT	+0.0100%	8h	61.595	+0.042%	$95.4M	$222.5M	75x	as long as short
Bybit LTCUSDT	+0.0100%	8h	61.570	+0.002%	$78.1M	$59.7M	75x	as long as short
OKX LTC-USDT-SWAP	+0.0100%	8h	61.560	−0.015%	$27.5M	$74.7M	50x	as long as short
MEXC LTC_USDT	+0.0100%	8h	61.600	+0.050%	$61.7M	$34.8M	200x	as long as short
KuCoin LTCUSDTM	+0.0100%	8h	61.610	+0.067%	$19.0M	$12.6M	75x	as long as short
Bitget LTCUSDT	+0.0100%	8h	61.600	+0.050%	$32.0M	$22.0M	75x	as long as short
BingX LTC-USDT	+0.0100%	8h	61.580	+0.018%	—	$37.5M	—	as long as short
Backpack LTC_USDC_PERPlong	+0.0100%	1h	61.569	long leg	$158K	$266K	10x
edgeX LTCUSDC	+0.0100%	4h	61.529	−0.066%	$42K	$357K	20x	as long as short
GRVT LTC_USDT_Perp	+0.0100%	8h	61.530	−0.063%	$351K	$2.0M	10x	as long as short
ApeX Omni LTCUSDT	+0.0100%	1h	61.550	−0.031%	$103K	$708K	50x	as long as short
SunX LTC-USDT	+0.0100%	8h	61.630	+0.099%	$17K	$4.2M	30x	as long as short
SoDEX LTC-USD	+0.0100%	1h	61.580	+0.018%	$634	$5K	10x	as long as short
HTX LTC-USDT	+0.0100%	8h	61.540	−0.047%	$1.9M	$4.8M	75x	as long as short
Phemex LTCUSDT	+0.0100%	8h	61.590	+0.034%	$22.0M	$9.1M	50x	as long as short
Lighter LTC	+0.0104%	1h	61.667	+0.159%	$1.3M	$1.2M	10x	as long as short
Extended LTC-USD	+0.0104%	1h	61.582	+0.022%	$685K	$1.1M	25x	as long as short
Aevo LTC-PERP	+0.0104%	1h	61.566	−0.004%	$470K	$499	3x	as long as short
BloFin LTC-USDT	+0.0220%	8h	61.560	−0.015%	$4.8M	$11.7M	50x	as long as short
Deribit LTC_USDC-PERPETUAL	+0.0254%	1h	61.593	+0.039%	$694K	$1.1M	50x	as long as short
Reya LTCRUSDPERP	+0.0334%	1h	61.552	−0.027%	$8K	—	25x	as long as short
Coinbase International LTC-PERP-INTX	+0.0760%	1h	61.780	+0.343%	$1.2M	$2.2M	50x	as long as short
dYdX LTC-USD	+0.0963%	1h	61.581	+0.019%	$433K	$8K	10x	as long as short