Funding arb · Price arb /

LTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h +0.010%

Price spread now: Deribit against Phemex+0.013%7-day average −0.007% · you sell dearer than you buy

Net, funding: paid 7d − costs−$55as in the Funding arb table

Net, price: spread back to 7d avg − costs−$39as in the Price arb table

costs, in and out, $10k−$410.414% of the position

Long on Phemex Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.138%−$14 on $10k

Price spread, last 4 days (all we have)−0.047%−$5 · spread now +0.013%, 7d avg −0.007%

Together, before fees−0.185%−$18 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Deribit is 0.020% dearer against Phemex than usual: you sell high and buy low (spread +0.013% now, against its 7-day average of −0.007%): +$2 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 16 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex LTCUSDT	60.450	0.0100	pay 0.0100% / 8h	7h 24m	$21.3M	$8.9M	50x
Short	Deribit LTC_USDC-PERPETUAL	60.458	0	get 0.0000% / 1h	24m 05s	$683K	$1.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Phemex. 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 PhemexbpFee DeribitbpOrdersPrice spread, now +0.013%Rate

Funding earned: −$21
Price spread: +0.013% → −0.007%: $2.02
Slippage, 4 orders: −$22.43
Fee Phemex: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$60.41
Costs to cover: 0.414%
Break-even: never at this rate

Slippage from Phemex: live order book, 5 min ago; Deribit: live order book, 5 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 Phemex live order book, 5 min ago	4.14 bp	13.5 bp −$14	23.3 bp −$233	doesn't fit	doesn't fit
Sell Deribit live order book, 5 min ago	3.31 bp	11.0 bp −$11	16.3 bp −$163	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
Kraken Futures PF_LTCUSD	−0.0040%	1h	60.443	−0.012%	$6.5M	$6.7M	50x	as long as short
GMX LTC/USD [ETH-USDC]	L −0.0019% / S +0.0146%	1h	60.426	−0.040%	$75K	—	200x	as long as short
Kalshi KXLTCPERP	0.0000%	8h	60.479	+0.048%	$344K	$4.4M	4x	as long as short
Deribit LTC_USDC-PERPETUALshort	0.0000%	1h	60.458	+0.013%	$683K	$1.1M	50x
gTrade (Gains Network) LTC/USD	L +0.0002% / S −0.0002%	1h	60.384	−0.110%	$25K	—	150x	as long as short
Variational Omni LTC	+0.0002%	8h	60.283	−0.276%	$3.5M	$2.7M	—	as long as short
Injective LTC/USDC PERP	+0.0033%	1h	58.730	−2.845%	$5K	$22K	12x	as long as short
Bybit LTCUSDT	+0.0075%	8h	60.410	−0.066%	$77.1M	$61.8M	75x	as long as short
Gate LTC_USDT	+0.0083%	8h	60.440	−0.017%	$14.3M	$21.6M	75x	as long as short
Lighter LTC	+0.0096%	1h	60.452	+0.003%	$928K	$1.6M	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_LTC_USDC	+0.0099%	8h	60.420	−0.050%	$13K	$91K	20x	as long as short
Paradex LTC-USD-PERP	+0.0100%	8h	60.445	−0.009%	$14K	$10K	20x	as long as short
Nado LTC-PERP	+0.0100%	1h	60.402	−0.079%	$256K	$349K	10x	as long as short
Hyperliquid LTC	+0.0100%	1h	60.475	+0.041%	$37.9M	$25.5M	10x	as long as short
Aster LTCUSDT	+0.0100%	8h	60.470	+0.034%	$2.5M	$2.6M	75x	as long as short
Pacifica LTC	+0.0100%	1h	60.423	−0.045%	$528K	$82K	10x	as long as short
Binance LTCUSDT	+0.0100%	8h	60.480	+0.050%	$88.4M	$236.2M	75x	as long as short
OKX LTC-USDT-SWAP	+0.0100%	8h	60.420	−0.050%	$26.8M	$76.3M	50x	as long as short
MEXC LTC_USDT	+0.0100%	8h	60.430	−0.033%	$57.6M	$36.3M	200x	as long as short
KuCoin LTCUSDTM	+0.0100%	8h	60.420	−0.050%	$18.0M	$13.5M	75x	as long as short
Bitget LTCUSDT	+0.0100%	8h	60.430	−0.033%	$31.1M	$22.9M	75x	as long as short
BingX LTC-USDT	+0.0100%	8h	60.430	−0.033%	—	$18.7M	—	as long as short
Backpack LTC_USDC_PERP	+0.0100%	1h	60.414	−0.060%	$146K	$281K	10x	as long as short
edgeX LTCUSDC	+0.0100%	4h	60.331	−0.197%	$41K	$376K	20x	as long as short
GRVT LTC_USDT_Perp	+0.0100%	8h	60.379	−0.118%	$334K	$1.9M	10x	as long as short
ApeX Omni LTCUSDT	+0.0100%	1h	60.360	−0.149%	$106K	$712K	50x	as long as short
Polymarket Perps LTC-USD	+0.0100%	1h	60.465	+0.025%	$81K	$732K	10x	as long as short
SunX LTC-USDT	+0.0100%	8h	60.520	+0.116%	$17K	$3.8M	30x	as long as short
SoDEX LTC-USD	+0.0100%	1h	60.430	−0.033%	$162	$6K	10x	as long as short
HTX LTC-USDT	+0.0100%	8h	60.450	0.000%	$2.0M	$5.1M	75x	as long as short
Phemex LTCUSDTlong	+0.0100%	8h	60.450	long leg	$21.3M	$8.9M	50x
Extended LTC-USD	+0.0104%	1h	60.406	−0.072%	$677K	$1.1M	25x	as long as short
Aevo LTC-PERP	+0.0104%	1h	60.415	−0.058%	$461K	—	3x	as long as short
BloFin LTC-USDT	+0.0220%	8h	60.390	−0.099%	$4.2M	$12.6M	50x	as long as short
Reya LTCRUSDPERP	+0.0339%	1h	60.415	−0.057%	$8K	—	25x	as long as short
Coinbase International LTC-PERP-INTX	+0.0632%	1h	60.500	+0.083%	$1.1M	$2.6M	50x	as long as short
dYdX LTC-USD	+0.0792%	1h	60.406	−0.073%	$425K	$4K	10x	as long as short