Funding arb · Price arb /

LIT

all LIT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0223%/8h= +24.4% APRpaid last 24h −0.042%

Price spread now: Phemex against Backpack−0.119%7-day average −0.083% · you buy dearer than you sell

Net, funding: paid 7d − costs−$89as in the Funding arb table

Net, price: spread back to 7d avg − costs−$70as in the Price arb table

costs, in and out, $10k−$670.667% of the position

Long on Backpack Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.224%−$22 on $10k

Price spread, last 3 days (all we have)+0.024%+$2 · spread now −0.119%, 7d avg −0.083%

Together, before fees−0.199%−$20 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phemex is 0.036% cheaper against Backpack than usual: you would sell low and buy high (spread −0.119% now, against its 7-day average of −0.083%). If the spread goes back, that is −$4 on $10k: about 13 hours of funding at the current rate (+$7 a day). Mind the row above: over the last 7 days funding on this pair cost −0.224%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack LIT_USDC_PERP	4.6996	−0.0789	get 0.0099% / 1h	30m 09s	$660K	$1.4M	5x
Short	Phemex LITUSDT	4.6940	−0.0566	pay 0.0283% / 4h	1h 30m	$1.3M	$2.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.119%Rate

Funding earned: $46.89
Price spread: −0.119% → −0.083%: −$3.59
Slippage, 4 orders: −$44.69
Fee Backpack: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$23.4
Costs to cover: 0.667%
Break-even: 10.5 days

Slippage from Backpack: live order book, 4 min ago; Phemex: live order book, 3 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, 4 min ago	1.17 bp	6.3 bp −$6	17.1 bp −$171	doesn't fit	doesn't fit
Sell Phemex live order book, 3 min ago	2.13 bp	29.1 bp −$29	doesn't fit	doesn't fit	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	−0.1180%	4h	4.7010	+0.030%	$2.8M	$4.5M	50x	as long as short
Deribit LIT_USDC-PERPETUAL	−0.0828%	1h	4.6981	−0.031%	$41K	$40K	10x	as long as short
Backpack LIT_USDC_PERPlong	−0.0789%	1h	4.6996	long leg	$660K	$1.4M	5x
Orderly PERP_LIT_USDC	−0.0634%	4h	4.6931	−0.138%	$32K	$2K	10x	as long as short
01 Exchange LITUSD	−0.0584%	1h	4.6937	−0.126%	$33K	$4K	5x	as long as short
Phemex LITUSDTshort	−0.0566%	4h	4.6940	−0.119%	$1.3M	$2.7M	20x
OKX LIT-USDT-SWAP	−0.0441%	4h	4.6942	−0.115%	$25.2M	$61.9M	50x	as long as short
Bullet LIT-USD	−0.0337%	1h	4.6985	−0.023%	$85K	$81K	20x	as long as short
Bybit LITUSDT	−0.0317%	4h	4.6970	−0.055%	$42.4M	$30.2M	75x	as long as short
KuCoin LITUSDTM	−0.0302%	4h	4.6973	−0.049%	$5.2M	$1.1M	30x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps LITUSD	−0.0225%	1h	4.7055	+0.126%	$10K	$201K	10x	as long as short
GRVT LIT_USDT_Perp	−0.0186%	4h	4.6990	−0.013%	$898K	$1.8M	10x	as long as short
Coinbase International LIT-PERP-INTX	−0.0152%	1h	4.7094	+0.209%	$666K	$398K	50x	as long as short
RISEx LIT/USDC	−0.0082%	1h	4.7028	+0.069%	$784K	$2.1M	5x	as long as short
Nado LIT-PERP	−0.0035%	1h	4.6988	−0.017%	$2.1M	$1.7M	10x	as long as short
Phoenix LIT	−0.0034%	1h	4.7044	+0.102%	$243K	$327K	5x	as long as short
Paradex LIT-USD-PERP	−0.0007%	8h	4.6958	−0.082%	$6K	$2K	5x	as long as short
dYdX LIT-USD	0.0000%	1h	4.7024	+0.060%	$34K	—	5x	as long as short
gTrade (Gains Network) LIT/USD	L +0.0003% / S −0.0003%	1h	4.7032	+0.077%	$35K	—	150x	as long as short
Injective LIT/USDC PERP	+0.0033%	1h	4.8040	+2.221%	$422	$178K	5.5x	as long as short
SoDEX LIT-USD	+0.0041%	1h	4.6975	−0.045%	$1K	$465K	5x	as long as short
Binance LITUSDT	+0.0051%	4h	4.6953	−0.092%	$74.5M	$80.9M	75x	as long as short
MEXC LIT_USDT	+0.0052%	4h	4.6952	−0.094%	$5.5M	$4.2M	100x	as long as short
edgeX LITUSDC	+0.0056%	4h	4.7033	+0.079%	$286K	$311K	10x	as long as short
Aevo LIT-PERP	+0.0064%	1h	4.6955	−0.087%	$147K	$44K	3x	as long as short
Lighter LIT	+0.0096%	1h	4.7037	+0.087%	$59.2M	$29.6M	5x	as long as short
Hyperliquid LIT	+0.0100%	1h	4.7076	+0.170%	$209.8M	$44.2M	5x	as long as short
Aster LITUSDT	+0.0100%	4h	4.7031	+0.075%	$12.6M	$2.4M	50x	as long as short
Pacifica LIT	+0.0100%	1h	4.7003	+0.015%	$578K	$1.8M	10x	as long as short
Arcus LIT-USD	+0.0100%	1h	4.6998	+0.004%	$117K	$450K	5x	as long as short
Bulk LIT-USD	+0.0100%	1h	4.6948	−0.101%	$118K	$5K	10x	as long as short
Bitget LITUSDT	+0.0100%	4h	4.7010	+0.030%	$6.7M	$2.7M	20x	as long as short
ApeX Omni LITUSDT	+0.0100%	1h	4.7060	+0.136%	$55K	$78K	50x	as long as short
Polymarket Perps LIT-USD	+0.0100%	1h	4.7006	+0.021%	$444K	$105K	10x	as long as short
Derive LIT-PERP	+0.0100%	1h	4.7028	+0.068%	$2K	$729	6.7x	as long as short
SunX LIT-USDT	+0.0100%	4h	4.7015	+0.040%	$4K	$1.2M	20x	as long as short
HTX LIT-USDT	+0.0100%	4h	4.7047	+0.109%	$188K	$329K	30x	as long as short
Extended LIT-USD	+0.0104%	1h	4.6962	−0.072%	$5.2M	$5.1M	25x	as long as short
BloFin LIT-USDT	+0.0213%	4h	4.6942	−0.115%	$1.5M	$2.0M	75x	as long as short
Lighter RH LIT	+0.0288%	1h	4.7052	+0.119%	$3.7M	$13.6M	5x	as long as short
Perpl LIT	+0.0335%	43m	4.7014	+0.039%	$31K	$839K	33x	as long as short
GMX LIT/USD [ETH-USDC]	L +0.0356% / S −0.0155%	1h	4.7031	+0.075%	$59K	—	50x	as long as short