LTC

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0748%/8h= −81.9% APRnext payment −$0.94 per $10,000 · paid last 24h −0.147%

Price spread now: Backpack against Coinbase International−0.085%7-day average −0.138% · you buy dearer than you sell

Net, funding: paid 7d − costs−$81as in the Funding arb table

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$350.346% of the position

Long on Coinbase International Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.469%−$47 on $10k

Price spread, last 3 days (all we have)+0.003%$0 · spread now −0.085%, 7d avg −0.138%

Together, before fees−0.466%−$47 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Backpack is 0.053% dearer against Coinbase International than usual: you sell high and buy low (spread −0.085% now, against its 7-day average of −0.138%): +$5 on $10k if it goes back. Holding the pair costs −$22 a day in funding at the current rate, which eats that in about 6 hours. At the pace of the last 7 days (−0.469% in total) that is about 19 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.469% in total (about -24.5% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.94 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	Coinbase International LTC-PERP-INTX	62.060	0.0848	pay 0.0106% / 1h	52m 25s	$1.2M	$2.3M	50x
Short	Backpack LTC_USDC_PERP	62.007	0.0100	get 0.0013% / 1h	52m 25s	$159K	$265K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Coinbase International. 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 Coinbase InternationalbpFee BackpackbpOrdersPrice spread, now −0.085%Rate

Funding earned: −$157.08
Price spread: −0.085% → −0.138%: $5.28
Slippage, 4 orders: −$14.57
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$186.37
Costs to cover: 0.346%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 1 min ago; Backpack: live order book, 26 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 Coinbase International live order book, 1 min ago	4.83 bp	11.3 bp −$11	18.4 bp −$184	doesn't fit	doesn't fit
Sell Backpack live order book, 26 min ago	0.08 bp	7.2 bp −$7	doesn't fit	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 −0.0092% / S +0.0288%	1h	61.967	−0.150%	$113K	—	200x	as long as short
Variational Omni LTC	−0.0047%	8h	61.757	−0.489%	$3.6M	$4.0M	—	as long as short
Kalshi KXLTCPERP	0.0000%	8h	62.011	−0.079%	$339K	$4.1M	4x	as long as short
gTrade (Gains Network) LTC/USD	L +0.0002% / S −0.0003%	1h	61.959	−0.163%	$31K	—	150x	as long as short
Injective LTC/USDC PERP	+0.0033%	1h	58.730	−5.366%	$5K	$22K	12x	as long as short
Gate LTC_USDT	+0.0072%	8h	62.010	−0.081%	$13.0M	$21.2M	75x	as long as short
Orderly PERP_LTC_USDC	+0.0100%	8h	61.970	−0.145%	$12K	$213K	20x	as long as short
Paradex LTC-USD-PERP	+0.0100%	8h	61.975	−0.137%	$14K	$10K	20x	as long as short
Nado LTC-PERP	+0.0100%	1h	61.960	−0.161%	$257K	$322K	10x	as long as short
Hyperliquid LTC	+0.0100%	1h	62.015	−0.073%	$37.6M	$23.7M	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster LTCUSDT	+0.0100%	8h	62.020	−0.064%	$2.6M	$2.3M	75x	as long as short
Pacifica LTC	+0.0100%	1h	61.987	−0.118%	$542K	$87K	10x	as long as short
Binance LTCUSDT	+0.0100%	8h	61.978	−0.131%	$96.0M	$222.9M	75x	as long as short
Bybit LTCUSDT	+0.0100%	8h	61.930	−0.209%	$78.6M	$59.6M	75x	as long as short
OKX LTC-USDT-SWAP	+0.0100%	8h	61.950	−0.177%	$27.7M	$75.3M	50x	as long as short
MEXC LTC_USDT	+0.0100%	8h	61.990	−0.113%	$61.7M	$33.8M	200x	as long as short
KuCoin LTCUSDTM	+0.0100%	8h	62.010	−0.081%	$19.1M	$12.7M	75x	as long as short
Bitget LTCUSDT	+0.0100%	8h	61.980	−0.129%	$32.2M	$22.1M	75x	as long as short
BingX LTC-USDT	+0.0100%	8h	61.980	−0.129%	—	$37.6M	—	as long as short
Backpack LTC_USDC_PERPshort	+0.0100%	1h	62.007	−0.085%	$159K	$265K	10x
edgeX LTCUSDC	+0.0100%	4h	61.910	−0.242%	$42K	$356K	20x	as long as short
GRVT LTC_USDT_Perp	+0.0100%	8h	61.930	−0.209%	$353K	$2.0M	10x	as long as short
ApeX Omni LTCUSDT	+0.0100%	1h	61.770	−0.467%	$103K	$708K	50x	as long as short
Polymarket Perps LTC-USD	+0.0100%	1h	61.956	−0.168%	$85K	$378K	10x	as long as short
SunX LTC-USDT	+0.0100%	8h	62.090	+0.048%	$17K	$4.2M	30x	as long as short
SoDEX LTC-USD	+0.0100%	1h	61.990	−0.113%	$638	$5K	10x	as long as short
HTX LTC-USDT	+0.0100%	8h	62.000	−0.097%	$1.9M	$4.8M	75x	as long as short
Phemex LTCUSDT	+0.0100%	8h	62.050	−0.016%	$22.2M	$9.1M	50x	as long as short
Extended LTC-USD	+0.0104%	1h	61.943	−0.189%	$688K	$1.1M	25x	as long as short
Aevo LTC-PERP	+0.0104%	1h	61.981	−0.127%	$473K	$499	3x	as long as short
Deribit LTC_USDC-PERPETUAL	+0.0169%	1h	62.012	−0.077%	$700K	$1.1M	50x	as long as short
Lighter LTC	+0.0192%	1h	62.051	−0.015%	$1.3M	$1.2M	10x	as long as short
BloFin LTC-USDT	+0.0220%	8h	62.050	−0.016%	$4.8M	$11.8M	50x	as long as short
Reya LTCRUSDPERP	+0.0335%	1h	61.957	−0.165%	$8K	—	25x	as long as short
Kraken Futures PF_LTCUSD	+0.0433%	1h	62.019	−0.066%	$6.9M	$5.8M	50x	as long as short
Coinbase International LTC-PERP-INTXlong	+0.0848%	1h	62.060	long leg	$1.2M	$2.3M	50x
dYdX LTC-USD	+0.0875%	1h	62.002	−0.093%	$436K	$8K	10x	as long as short