Funding arb · Price arb /

LIT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.017%

Price spread now: Bulk against Backpack−0.815%7-day average −0.019% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$109as in the Price arb table

costs, in and out, $10k−$290.292% of the position

Long on Backpack Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.021%−$2 on $10k

Price spread, last 4 days (all we have)+0.723%+$72 · spread now −0.815%, 7d avg −0.019%

Together, before fees+0.702%+$70 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bulk is 0.796% cheaper against Backpack than usual: you would sell low and buy high, −$80 on $10k if it goes back to its 7-day average of −0.019%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack LIT_USDC_PERP	4.7957	0.0100	pay 0.0013% / 1h	55m 32s	$674K	$1.4M	5x
Short	Bulk LIT-USD	4.7566	0.0100	get 0.0013% / 1h	55m 32s	$119K	$6K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk against Backpack. 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 BackpackbpFee BulkbpOrdersPrice spread, now −0.815%Rate

Funding earned: $0
Price spread: −0.815% → −0.019%: −$79.63
Slippage, 4 orders: −$12.15
Fee Backpack: 5 bp × 2 orders: −$10
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: −$108.78
Costs to cover: 0.292%
Break-even: never at this rate

Slippage from Backpack: live order book, 3 min ago; Bulk: live order book, 23 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 Backpack live order book, 3 min ago	0.10 bp	8.0 bp −$8	17.7 bp −$177	doesn't fit	doesn't fit
Sell Bulk live order book, 23 min ago	0.96 bp	7.7 bp −$8	14.8 bp −$148	50.1 bp −$5,006	doesn't fit

LIT on 42 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
Gate LIT_USDT	−0.1036%	4h	4.7900	−0.119%	$2.8M	$4.5M	50x	as long as short
Deribit LIT_USDC-PERPETUAL	−0.0707%	1h	4.7903	−0.113%	$42K	$40K	10x	as long as short
Orderly PERP_LIT_USDC	−0.0621%	4h	4.7855	−0.213%	$33K	$2K	10x	as long as short
Phemex LITUSDT	−0.0478%	4h	4.7910	−0.098%	$1.4M	$2.7M	20x	as long as short
OKX LIT-USDT-SWAP	−0.0453%	4h	4.7843	−0.238%	$26.0M	$64.3M	50x	as long as short
01 Exchange LITUSD	−0.0416%	1h	4.7831	−0.263%	$33K	$4K	5x	as long as short
Bullet LIT-USD	−0.0327%	1h	4.7860	−0.202%	$86K	$81K	20x	as long as short
KuCoin LITUSDTM	−0.0238%	4h	4.7889	−0.142%	$5.3M	$1.1M	30x	as long as short
Bybit LITUSDT	−0.0196%	4h	4.7880	−0.161%	$43.2M	$30.1M	75x	as long as short
Aftermath Perps LITUSD	−0.0122%	1h	4.7737	−0.459%	$13K	$203K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International LIT-PERP-INTX	−0.0120%	1h	4.7929	−0.058%	$678K	$405K	50x	as long as short
GRVT LIT_USDT_Perp	−0.0118%	4h	4.7820	−0.287%	$917K	$1.8M	10x	as long as short
Phoenix LIT	−0.0034%	1h	4.7829	−0.267%	$208K	$353K	5x	as long as short
dYdX LIT-USD	0.0000%	1h	4.7872	−0.177%	$34K	—	5x	as long as short
Perpl LIT	0.0000%	43m	4.7897	−0.125%	$32K	$840K	33x	as long as short
gTrade (Gains Network) LIT/USD	L +0.0003% / S −0.0003%	1h	4.7952	−0.011%	$35K	—	150x	as long as short
Paradex LIT-USD-PERP	+0.0008%	8h	4.7854	−0.215%	$7K	$2K	5x	as long as short
RISEx LIT/USDC	+0.0012%	1h	4.7901	−0.117%	$824K	$2.1M	5x	as long as short
Injective LIT/USDC PERP	+0.0033%	1h	4.8040	+0.173%	$422	$178K	5.5x	as long as short
edgeX LITUSDC	+0.0062%	4h	4.7767	−0.395%	$291K	$310K	10x	as long as short
MEXC LIT_USDT	+0.0062%	4h	4.7849	−0.225%	$5.7M	$4.1M	100x	as long as short
Binance LITUSDT	+0.0067%	4h	4.7848	−0.227%	$76.1M	$81.3M	75x	as long as short
Aevo LIT-PERP	+0.0072%	1h	4.7890	−0.139%	$150K	$44K	3x	as long as short
Lighter LIT	+0.0096%	1h	4.7954	−0.006%	$60.4M	$29.7M	5x	as long as short
Nado LIT-PERP	+0.0100%	1h	4.7847	−0.228%	$2.2M	$1.7M	10x	as long as short
Aster LITUSDT	+0.0100%	4h	4.7954	−0.007%	$12.8M	$2.4M	50x	as long as short
Pacifica LIT	+0.0100%	1h	4.7910	−0.098%	$621K	$1.6M	10x	as long as short
Arcus LIT-USD	+0.0100%	1h	4.7887	−0.146%	$119K	$452K	5x	as long as short
Bulk LIT-USDshort	+0.0100%	1h	4.7566	−0.815%	$119K	$6K	10x
Bitget LITUSDT	+0.0100%	4h	4.7900	−0.119%	$6.8M	$2.7M	20x	as long as short
Backpack LIT_USDC_PERPlong	+0.0100%	1h	4.7957	long leg	$674K	$1.4M	5x
ApeX Omni LITUSDT	+0.0100%	1h	4.7830	−0.265%	$56K	$77K	50x	as long as short
Polymarket Perps LIT-USD	+0.0100%	1h	4.7869	−0.183%	$452K	$105K	10x	as long as short
Derive LIT-PERP	+0.0100%	1h	4.7950	−0.015%	$2K	$650	6.7x	as long as short
SunX LIT-USDT	+0.0100%	4h	4.7919	−0.079%	$4K	$1.2M	20x	as long as short
SoDEX LIT-USD	+0.0100%	1h	4.7920	−0.077%	$1K	$466K	5x	as long as short
HTX LIT-USDT	+0.0100%	4h	4.7814	−0.298%	$191K	$329K	30x	as long as short
Extended LIT-USD	+0.0104%	1h	4.7857	−0.209%	$5.3M	$5.1M	25x	as long as short
Lighter RH LIT	+0.0112%	1h	4.7971	+0.029%	$3.7M	$13.8M	5x	as long as short
BloFin LIT-USDT	+0.0248%	4h	4.7802	−0.323%	$1.6M	$2.1M	75x	as long as short
Hyperliquid LIT	+0.0263%	1h	4.7949	−0.017%	$214.9M	$44.8M	5x	as long as short
GMX LIT/USD [ETH-USDC]	L +0.0379% / S −0.0169%	1h	4.7954	−0.007%	$63K	—	50x	as long as short