Funding arb · Price arb /

LIT

all LIT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0134%/8h= −14.6% APRpaid last 24h −0.027%

Price spread now: Phoenix against Binance+0.395%7-day average +0.165% · you sell dearer than you buy

Net, funding: paid 7d − costs−$39as in the Funding arb table

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$490.489% of the position

Long on Binance Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.094%+$9 on $10k

Price spread, last 3 days (all we have)+0.286%+$29 · spread now +0.395%, 7d avg +0.165%

Together, before fees+0.380%+$38 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phoenix is 0.230% dearer against Binance than usual: you sell high and buy low (spread +0.395% now, against its 7-day average of +0.165%): +$23 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 5.7 days. Mind the row above: over the last 7 days funding on this pair paid +0.094%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance LITUSDT	4.7587	0.0100	pay 0.0050% / 4h	3h 05m	$76.1M	$79.7M	75x
Short	Phoenix LIT	4.7775	−0.0034	pay 0.0004% / 1h	5m 32s	$208K	$361K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Binance. 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 BinancebpFee PhoenixbpOrdersPrice spread, now +0.395%Rate

Funding earned: −$28.09
Price spread: +0.395% → +0.165%: $23.04
Slippage, 4 orders: −$31.92
Fee Binance: 5 bp × 2 orders: −$10
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$53.97
Costs to cover: 0.489%
Break-even: never at this rate

Slippage from Binance: live order book, 7 min ago; Phoenix: live order book, 65 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 Binance live order book, 7 min ago	0.10 bp	10.4 bp −$10	35.1 bp −$351	doesn't fit	doesn't fit
Sell Phoenix live order book, 65 min ago	1.90 bp	16.1 bp −$16	50.1 bp −$501	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
Deribit LIT_USDC-PERPETUAL	−0.1009%	1h	4.7593	+0.012%	$42K	$40K	10x	as long as short
Orderly PERP_LIT_USDC	−0.0481%	4h	4.7550	−0.078%	$33K	$2K	10x	as long as short
01 Exchange LITUSD	−0.0448%	1h	4.7578	−0.019%	$33K	$4K	5x	as long as short
Bullet LIT-USD	−0.0384%	1h	4.7588	+0.003%	$85K	$72K	20x	as long as short
OKX LIT-USDT-SWAP	−0.0198%	4h	4.7634	+0.099%	$25.9M	$63.5M	50x	as long as short
ApeX Omni LITUSDT	−0.0194%	1h	4.7680	+0.195%	$57K	$77K	50x	as long as short
KuCoin LITUSDTM	−0.0140%	4h	4.7679	+0.193%	$5.3M	$1.1M	30x	as long as short
GRVT LIT_USDT_Perp	−0.0092%	4h	4.7680	+0.195%	$906K	$1.8M	10x	as long as short
Coinbase International LIT-PERP-INTX	−0.0088%	1h	4.7783	+0.411%	$676K	$392K	50x	as long as short
Phoenix LITshort	−0.0034%	1h	4.7775	+0.395%	$208K	$361K	5x

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Perpl LIT	0.0000%	43m	4.7672	+0.179%	$32K	$849K	33x	as long as short
dYdX LIT-USD	+0.0002%	1h	4.7671	+0.176%	$34K	—	5x	as long as short
gTrade (Gains Network) LIT/USD	L +0.0003% / S 0.0000%	1h	4.7660	+0.152%	$477	—	150x	as long as short
Injective LIT/USDC PERP	+0.0033%	1h	4.8040	+0.952%	$422	$178K	5.5x	as long as short
Paradex LIT-USD-PERP	+0.0042%	8h	4.7593	+0.012%	$7K	$2K	5x	as long as short
Polymarket Perps LIT-USD	+0.0064%	1h	4.7623	+0.076%	$450K	$104K	10x	as long as short
Nado LIT-PERP	+0.0087%	1h	4.7615	+0.059%	$2.2M	$1.7M	10x	as long as short
Lighter LIT	+0.0096%	1h	4.7697	+0.231%	$59.6M	$30.0M	5x	as long as short
Aster LITUSDT	+0.0100%	4h	4.7680	+0.195%	$12.8M	$2.1M	50x	as long as short
Pacifica LIT	+0.0100%	1h	4.7658	+0.149%	$590K	$1.6M	10x	as long as short
Binance LITUSDTlong	+0.0100%	4h	4.7587	long leg	$76.1M	$79.7M	75x
Bybit LITUSDT	+0.0100%	4h	4.7620	+0.069%	$42.9M	$29.6M	75x	as long as short
Arcus LIT-USD	+0.0100%	1h	4.7635	+0.101%	$118K	$448K	5x	as long as short
Bulk LIT-USD	+0.0100%	1h	4.7660	+0.154%	$119K	$1K	10x	as long as short
Gate LIT_USDT	+0.0100%	4h	4.7630	+0.090%	$2.8M	$4.5M	50x	as long as short
MEXC LIT_USDT	+0.0100%	4h	4.7579	−0.017%	$5.6M	$4.2M	100x	as long as short
Bitget LITUSDT	+0.0100%	4h	4.7640	+0.111%	$6.8M	$2.7M	20x	as long as short
Backpack LIT_USDC_PERP	+0.0100%	1h	4.7653	+0.139%	$690K	$1.4M	5x	as long as short
edgeX LITUSDC	+0.0100%	4h	4.7738	+0.317%	$291K	$308K	10x	as long as short
Derive LIT-PERP	+0.0100%	1h	4.7644	+0.120%	$2K	—	6.7x	as long as short
SunX LIT-USDT	+0.0100%	4h	4.7640	+0.111%	$4K	$1.2M	20x	as long as short
SoDEX LIT-USD	+0.0100%	1h	4.7615	+0.059%	$1K	$453K	5x	as long as short
HTX LIT-USDT	+0.0100%	4h	4.7740	+0.322%	$190K	$346K	30x	as long as short
Phemex LITUSDT	+0.0100%	4h	4.7610	+0.048%	$1.4M	$2.7M	20x	as long as short
Extended LIT-USD	+0.0104%	1h	4.7603	+0.033%	$5.2M	$5.1M	25x	as long as short
Aevo LIT-PERP	+0.0104%	1h	4.7587	−0.001%	$149K	—	3x	as long as short
RISEx LIT/USDC	+0.0119%	1h	4.7663	+0.160%	$794K	$2.0M	5x	as long as short
Lighter RH LIT	+0.0168%	1h	4.7697	+0.231%	$3.7M	$13.7M	5x	as long as short
Hyperliquid LIT	+0.0307%	1h	4.7716	+0.271%	$214.2M	$43.8M	5x	as long as short
BloFin LIT-USDT	+0.0340%	4h	4.7767	+0.378%	$1.6M	$2.0M	75x	as long as short
Aftermath Perps LITUSD	+0.0351%	1h	4.7726	+0.293%	$9K	$204K	10x	as long as short
GMX LIT/USD [ETH-USDC]	L +0.0400% / S −0.0190%	1h	4.7644	+0.119%	$64K	—	50x	as long as short