Funding arb · Price arb /

LTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.055%

Price spread now: Backpack against Hyperliquid−0.109%7-day average −0.123% · you buy dearer than you sell

Net, funding: paid 7d − costs−$53as in the Funding arb table

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

costs, in and out, $10k−$310.308% of the position

Long on Hyperliquid Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.223%−$22 on $10k

Price spread, last 4 days (all we have)−0.160%−$16 · spread now −0.109%, 7d avg −0.123%

Together, before fees−0.383%+ Points / potential airdropHyperliquid: Season 2 · farm board−$38 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid LTC	60.789	0.0100	pay 0.0013% / 1h	29m 16s	$37.2M	$25.6M	10x
Short	Backpack LTC_USDC_PERP	60.723	0.0100	get 0.0013% / 1h	29m 16s	$153K	$278K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Hyperliquid. 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 HyperliquidbpFee BackpackbpOrdersPrice spread, now −0.109%Rate

Funding earned: $0
Price spread: −0.109% → −0.123%: $1.42
Slippage, 4 orders: −$11.83
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$29.41
Costs to cover: 0.308%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 4 min ago; Backpack: live order book, 29 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 Hyperliquid live order book, 4 min ago	0.66 bp	6.6 bp −$7	doesn't fit	doesn't fit	doesn't fit
Sell Backpack live order book, 29 min ago	0.08 bp	10.7 bp −$11	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 −0.0320% / S +0.0427%	1h	60.715	−0.122%	$110K	—	200x	as long as short
Polymarket Perps LTC-USD	−0.0210%	1h	60.650	−0.229%	$80K	$397K	10x	as long as short
Kalshi KXLTCPERP	0.0000%	8h	60.751	−0.063%	$341K	$4.4M	4x	as long as short
Deribit LTC_USDC-PERPETUAL	0.0000%	1h	60.740	−0.081%	$688K	$1.1M	50x	as long as short
gTrade (Gains Network) LTC/USD	L +0.0002% / S −0.0003%	1h	60.715	−0.122%	$30K	—	150x	as long as short
Variational Omni LTC	+0.0024%	8h	60.664	−0.205%	$3.6M	$2.6M	—	as long as short
Injective LTC/USDC PERP	+0.0033%	1h	58.730	−3.387%	$5K	$22K	12x	as long as short
Lighter LTC	+0.0096%	1h	60.703	−0.141%	$943K	$1.6M	10x	as long as short
Orderly PERP_LTC_USDC	+0.0099%	8h	60.680	−0.179%	$13K	$175K	20x	as long as short
Paradex LTC-USD-PERP	+0.0100%	8h	60.688	−0.166%	$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	60.700	−0.146%	$267K	$333K	10x	as long as short
Hyperliquid LTClong	+0.0100%	1h	60.789	long leg	$37.2M	$25.6M	10x
Aster LTCUSDT	+0.0100%	8h	60.738	−0.085%	$2.6M	$2.6M	75x	as long as short
Pacifica LTC	+0.0100%	1h	60.706	−0.137%	$531K	$83K	10x	as long as short
Binance LTCUSDT	+0.0100%	8h	60.701	−0.146%	$90.2M	$229.5M	75x	as long as short
Bybit LTCUSDT	+0.0100%	8h	60.680	−0.179%	$76.6M	$60.3M	75x	as long as short
OKX LTC-USDT-SWAP	+0.0100%	8h	60.650	−0.229%	$26.8M	$75.2M	50x	as long as short
Gate LTC_USDT	+0.0100%	8h	60.710	−0.130%	$12.6M	$21.8M	75x	as long as short
MEXC LTC_USDT	+0.0100%	8h	60.710	−0.130%	$56.4M	$35.3M	200x	as long as short
KuCoin LTCUSDTM	+0.0100%	8h	60.690	−0.163%	$18.2M	$12.9M	75x	as long as short
Bitget LTCUSDT	+0.0100%	8h	60.710	−0.130%	$32.3M	$22.4M	75x	as long as short
BingX LTC-USDT	+0.0100%	8h	60.710	−0.130%	—	$38.3M	—	as long as short
Backpack LTC_USDC_PERPshort	+0.0100%	1h	60.723	−0.109%	$153K	$278K	10x
edgeX LTCUSDC	+0.0100%	4h	60.660	−0.212%	$41K	$375K	20x	as long as short
GRVT LTC_USDT_Perp	+0.0100%	8h	60.687	−0.168%	$337K	$1.9M	10x	as long as short
ApeX Omni LTCUSDT	+0.0100%	1h	60.490	−0.492%	$107K	$719K	50x	as long as short
SunX LTC-USDT	+0.0100%	8h	60.790	+0.002%	$17K	$3.9M	30x	as long as short
SoDEX LTC-USD	+0.0100%	1h	60.710	−0.130%	$163	$5K	10x	as long as short
HTX LTC-USDT	+0.0100%	8h	60.660	−0.212%	$2.0M	$5.0M	75x	as long as short
Phemex LTCUSDT	+0.0100%	8h	60.710	−0.130%	$21.5M	$8.9M	50x	as long as short
Extended LTC-USD	+0.0104%	1h	60.694	−0.156%	$671K	$1.1M	25x	as long as short
Aevo LTC-PERP	+0.0104%	1h	60.700	−0.146%	$464K	—	3x	as long as short
BloFin LTC-USDT	+0.0220%	8h	60.740	−0.081%	$4.7M	$12.2M	50x	as long as short
Kraken Futures PF_LTCUSD	+0.0295%	1h	60.748	−0.067%	$6.7M	$6.2M	50x	as long as short
Reya LTCRUSDPERP	+0.0336%	1h	60.711	−0.129%	$8K	—	25x	as long as short
dYdX LTC-USD	+0.0411%	1h	60.704	−0.140%	$427K	$8K	10x	as long as short
Coinbase International LTC-PERP-INTX	+0.0848%	1h	60.830	+0.067%	$1.1M	$2.3M	50x	as long as short