Funding arb · Price arb /

LTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0010%/8h= −1.1% APRpaid last 24h −0.103%

Price spread now: Polymarket Perps against Phemex+0.007%46s7-day average −0.098% · you sell dearer than you buy

Net, funding: paid 7d − costs−$62as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$360.359% of the position

Long on Phemex Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.266%−$27 on $10k

Price spread, last 3 days (all we have)−0.119%−$12 · spread now +0.007%, 7d avg −0.098%

Together, before fees−0.385%−$38 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Polymarket Perps is 0.105% dearer against Phemex than usual: you sell high and buy low (spread +0.007% now, against its 7-day average of −0.098%): +$10 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 36 days. At the pace of the last 7 days (−0.266% in total) that is about 2.8 days. The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex LTCUSDT	61.480	0.0100	pay 0.0100% / 8h	1h 06m	$22.0M	$9.1M	50x
Short	Polymarket Perps LTC-USD	61.484	0.0090	get 0.0011% / 1h	6m 30s	$85K	$378K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now +0.007%Rate

Funding earned: −$2.03
Price spread: +0.007% → −0.098%: $10.5
Slippage, 4 orders: −$15.88
Fee Phemex: 6 bp × 2 orders: −$12
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$27.41
Costs to cover: 0.359%
Break-even: never at this rate

Slippage from Phemex: live order book, 3 min ago; Polymarket Perps: live order book, 11 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, 3 min ago	2.44 bp	10.0 bp −$10	19.5 bp −$195	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 11 min ago	2.93 bp	7.7 bp −$8	10.6 bp −$106	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 −0.0080% / S +0.0281%	1h	61.437	−0.070%	$112K	—	200x	as long as short
Variational Omni LTC	−0.0057%	8h	61.477	−0.005%	$3.6M	$4.0M	—	as long as short
Kalshi KXLTCPERP	0.0000%	8h	61.439	−0.067%	$337K	$4.1M	4x	as long as short
gTrade (Gains Network) LTC/USD	L +0.0002% / S −0.0003%	1h	61.438	−0.069%	$30K	—	150x	as long as short
Injective LTC/USDC PERP	+0.0033%	1h	58.730	−4.473%	$5K	$22K	12x	as long as short
Gate LTC_USDT	+0.0054%	8h	61.480	0.000%	$12.9M	$21.3M	75x	as long as short
Kraken Futures PF_LTCUSD	+0.0087%	1h	61.501	+0.033%	$6.8M	$5.8M	50x	as long as short
Polymarket Perps LTC-USDshort	+0.0090%	1h	61.484	+0.007%	$85K	$378K	10x
Orderly PERP_LTC_USDC	+0.0100%	8h	61.450	−0.049%	$12K	$213K	20x	as long as short
Paradex LTC-USD-PERP	+0.0100%	8h	61.475	−0.008%	$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	61.495	+0.024%	$252K	$321K	10x	as long as short
Hyperliquid LTC	+0.0100%	1h	61.549	+0.112%	$37.3M	$23.7M	10x	as long as short
Aster LTCUSDT	+0.0100%	8h	61.490	+0.016%	$2.6M	$2.3M	75x	as long as short
Pacifica LTC	+0.0100%	1h	61.475	−0.008%	$537K	$87K	10x	as long as short
Binance LTCUSDT	+0.0100%	8h	61.497	+0.028%	$95.2M	$222.6M	75x	as long as short
Bybit LTCUSDT	+0.0100%	8h	61.470	−0.016%	$77.9M	$59.7M	75x	as long as short
OKX LTC-USDT-SWAP	+0.0100%	8h	61.500	+0.033%	$27.4M	$74.5M	50x	as long as short
MEXC LTC_USDT	+0.0100%	8h	61.490	+0.016%	$61.3M	$35.0M	200x	as long as short
KuCoin LTCUSDTM	+0.0100%	8h	61.480	0.000%	$19.0M	$12.6M	75x	as long as short
Bitget LTCUSDT	+0.0100%	8h	61.510	+0.049%	$31.9M	$22.0M	75x	as long as short
BingX LTC-USDC	+0.0100%	8h	61.470	−0.016%	—	$6.5M	—	as long as short
Backpack LTC_USDC_PERP	+0.0100%	1h	61.439	−0.067%	$158K	$265K	10x	as long as short
edgeX LTCUSDC	+0.0100%	4h	61.510	+0.048%	$42K	$355K	20x	as long as short
GRVT LTC_USDT_Perp	+0.0100%	8h	61.504	+0.039%	$351K	$2.0M	10x	as long as short
ApeX Omni LTCUSDT	+0.0100%	1h	61.490	+0.016%	$103K	$707K	50x	as long as short
SunX LTC-USDT	+0.0100%	8h	61.500	+0.033%	$17K	$4.2M	30x	as long as short
SoDEX LTC-USD	+0.0100%	1h	61.450	−0.049%	$633	$5K	10x	as long as short
HTX LTC-USDT	+0.0100%	8h	61.430	−0.081%	$1.9M	$4.8M	75x	as long as short
Phemex LTCUSDTlong	+0.0100%	8h	61.480	long leg	$22.0M	$9.1M	50x
Extended LTC-USD	+0.0104%	1h	61.478	−0.004%	$685K	$1.1M	25x	as long as short
Aevo LTC-PERP	+0.0104%	1h	61.452	−0.046%	$469K	$499	3x	as long as short
Lighter LTC	+0.0112%	1h	61.543	+0.102%	$1.3M	$1.2M	10x	as long as short
BloFin LTC-USDT	+0.0220%	8h	61.460	−0.033%	$4.8M	$11.7M	50x	as long as short
Deribit LTC_USDC-PERPETUAL	+0.0254%	1h	61.480	0.000%	$694K	$1.1M	50x	as long as short
Reya LTCRUSDPERP	+0.0334%	1h	61.497	+0.028%	$8K	—	25x	as long as short
Coinbase International LTC-PERP-INTX	+0.0760%	1h	61.720	+0.390%	$1.2M	$2.2M	50x	as long as short
dYdX LTC-USD	+0.0982%	1h	61.472	−0.013%	$432K	$8K	10x	as long as short