Funding arb · Price arb /

LITE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0078%/8h= +8.6% APRpaid last 24h +0.066%

Price spread now: Deribit against Phemex−0.096%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Phemex Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Deribit is 0.096% cheaper against Phemex than usual: you would sell low and buy high (spread −0.096% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$10 on $10k: about 4.1 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex LITEUSDT	945.03	0	get 0.0000% / 8h	3h 06m	$1.5M	$706K	10x
Short	Deribit LITE_USDC-PERPETUAL	944.12	0.0078	get 0.0010% / 1h	6m 34s	$18K	$39K	10x

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 −0.096%Rate

Funding earned: $16.48
Price spread: −0.096% → 0.000%: −$9.63
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$12.15
Costs to cover: 0.190%
Break-even: 12.2 days

Slippage unknown: Phemex: live order book, 1 min ago; Deribit: no order-book sample. Net counts fees only.

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, 1 min ago	3.33 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

LITE on 27 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
Bitget LITEUSDT	−0.0376%	8h	946.08	+0.111%	$2.6M	$3.0M	20x	as long as short
Coinbase International LITE-PERP-INTX	−0.0224%	1h	946.46	+0.151%	$99K	$202K	10x	as long as short
BloFin LITE-USDT	−0.0030%	8h	945.01	−0.002%	$220K	$234K	20x	as long as short
QFEX LITE-USD	−0.0002%	1h	945.65	+0.066%	$1.1M	$3.5M	10x	as long as short
Aster LITEUSDT	0.0000%	8h	946.54	+0.159%	$106K	$17K	20x	as long as short
Extended LITE-USD	0.0000%	1h	946.00	+0.102%	$14K	$199K	10x	as long as short
Binance LITEUSDT	0.0000%	8h	946.34	+0.139%	$12.2M	$47.5M	25x	as long as short
Bybit LITEUSDT	0.0000%	8h	945.82	+0.084%	$1.8M	$1.7M	25x	as long as short
OKX LITE-USDT-SWAP	0.0000%	8h	946.12	+0.115%	$3.7M	$17.6M	25x	as long as short
Gate LITE_USDT	0.0000%	8h	946.54	+0.160%	$7.9M	$6.3M	50x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni LITE	0.0000%	8h	945.11	+0.008%	$260K	$154K	—	as long as short
GRVT LITE_USDT_Perp	0.0000%	8h	944.49	−0.058%	$784	$184K	10x	as long as short
SunX LITE-USDT	0.0000%	8h	944.20	−0.088%	$726	$3.8M	10x	as long as short
HTX LITE-USDT	0.0000%	8h	944.52	−0.054%	$7K	$31K	20x	as long as short
Phemex LITEUSDTlong	0.0000%	8h	945.03	long leg	$1.5M	$706K	10x
Lighter LITE	+0.0032%	1h	946.38	+0.143%	$25K	$104K	10x	as long as short
Vest LITE-USD-PERP	+0.0046%	1h	945.06	+0.003%	—	$3K	10x	as long as short
Polymarket Perps LITE-USD	+0.0050%	1h	945.74	+0.075%	$73K	$228K	10x	as long as short
SoDEX LITE-USD	+0.0050%	1h	944.20	−0.088%	$23K	$9K	10x	as long as short
Ondo Perps LITE-USD.P	+0.0050%	1h	946.05	+0.108%	$33K	$316K	10x	as long as short
tradeXYZ xyz:LITE	+0.0057%	1h	946.25	+0.129%	$7.2M	$5.6M	10x	as long as short
Deribit LITE_USDC-PERPETUALshort	+0.0078%	1h	944.12	−0.096%	$18K	$39K	10x
KuCoin LITEUSDTM	+0.0100%	8h	946.01	+0.104%	$520K	$43K	20x	as long as short
ApeX Omni LITEUSDT	+0.0100%	1h	944.29	−0.078%	$16K	$266K	50x	as long as short
Orderly PERP_LITE_USDC_mythos	+0.0100%	8h	944.20	−0.088%	$918	$3K	10x	as long as short
Aevo LITE-PERP	+0.0104%	1h	944.00	−0.109%	—	—	10x	as long as short
edgeX LITEUSDC	+0.0932%	4h	945.22	+0.021%	$61K	$457K	10x	as long as short