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: Backpack against Bulk+0.704%7-day average +0.019% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs+$39as in the Price arb table

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

Long on Bulk Short on Backpack

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)−0.612%−$61 · spread now +0.704%, 7d avg +0.019%

Together, before fees−0.591%−$59 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: Backpack is 0.685% dearer against Bulk than usual: you sell high and buy low, +$69 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	Bulk LIT-USD	4.7566	0.0100	pay 0.0013% / 1h	54m 56s	$119K	$6K	10x
Short	Backpack LIT_USDC_PERP	4.7901	0.0100	get 0.0013% / 1h	54m 56s	$680K	$1.4M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Bulk. 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 BulkbpFee BackpackbpOrdersPrice spread, now +0.704%Rate

Funding earned: $0
Price spread: +0.704% → +0.019%: $68.52
Slippage, 4 orders: −$12.15
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee Backpack: 5 bp × 2 orders: −$10
Net: $39.37
Costs to cover: 0.292%
Break-even: from the start

Slippage from Bulk: live order book, 24 min ago; Backpack: live order book, 4 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 Bulk live order book, 24 min ago	0.96 bp	8.1 bp −$8	19.4 bp −$194	73.4 bp −$7,342	doesn't fit
Sell Backpack live order book, 4 min ago	0.10 bp	5.3 bp −$5	14.3 bp −$143	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	−0.1036%	4h	4.7910	+0.723%	$2.8M	$4.5M	50x	as long as short
Deribit LIT_USDC-PERPETUAL	−0.0766%	1h	4.7865	+0.629%	$42K	$40K	10x	as long as short
Orderly PERP_LIT_USDC	−0.0620%	4h	4.7833	+0.561%	$33K	$2K	10x	as long as short
Phemex LITUSDT	−0.0475%	4h	4.7860	+0.618%	$1.4M	$2.7M	20x	as long as short
OKX LIT-USDT-SWAP	−0.0455%	4h	4.7856	+0.610%	$26.0M	$64.3M	50x	as long as short
01 Exchange LITUSD	−0.0416%	1h	4.7831	+0.557%	$33K	$4K	5x	as long as short
Bullet LIT-USD	−0.0327%	1h	4.7860	+0.618%	$86K	$81K	20x	as long as short
KuCoin LITUSDTM	−0.0238%	4h	4.7878	+0.656%	$5.3M	$1.1M	30x	as long as short
Bybit LITUSDT	−0.0196%	4h	4.7880	+0.660%	$43.2M	$30.1M	75x	as long as short
Coinbase International LIT-PERP-INTX	−0.0120%	1h	4.8000	+0.912%	$679K	$405K	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT LIT_USDT_Perp	−0.0118%	4h	4.7820	+0.533%	$917K	$1.8M	10x	as long as short
Aftermath Perps LITUSD	−0.0088%	1h	4.7789	+0.469%	$13K	$203K	10x	as long as short
Phoenix LIT	−0.0034%	1h	4.7829	+0.553%	$208K	$353K	5x	as long as short
dYdX LIT-USD	0.0000%	1h	4.7872	+0.644%	$34K	—	5x	as long as short
Perpl LIT	0.0000%	43m	4.7897	+0.696%	$32K	$840K	33x	as long as short
gTrade (Gains Network) LIT/USD	L +0.0003% / S −0.0003%	1h	4.7923	+0.750%	$35K	—	150x	as long as short
Paradex LIT-USD-PERP	+0.0008%	8h	4.7854	+0.606%	$7K	$2K	5x	as long as short
RISEx LIT/USDC	+0.0012%	1h	4.7901	+0.704%	$824K	$2.1M	5x	as long as short
Injective LIT/USDC PERP	+0.0033%	1h	4.8040	+0.997%	$422	$178K	5.5x	as long as short
edgeX LITUSDC	+0.0062%	4h	4.7767	+0.424%	$291K	$310K	10x	as long as short
MEXC LIT_USDT	+0.0062%	4h	4.7855	+0.608%	$5.7M	$4.1M	100x	as long as short
Binance LITUSDT	+0.0067%	4h	4.7844	+0.584%	$76.2M	$81.3M	75x	as long as short
Aevo LIT-PERP	+0.0072%	1h	4.7870	+0.639%	$150K	$44K	3x	as long as short
Lighter LIT	+0.0096%	1h	4.7929	+0.763%	$60.3M	$29.7M	5x	as long as short
Nado LIT-PERP	+0.0100%	1h	4.7847	+0.592%	$2.2M	$1.7M	10x	as long as short
Aster LITUSDT	+0.0100%	4h	4.7970	+0.850%	$12.8M	$2.4M	50x	as long as short
Pacifica LIT	+0.0100%	1h	4.7910	+0.723%	$621K	$1.6M	10x	as long as short
Arcus LIT-USD	+0.0100%	1h	4.7887	+0.675%	$119K	$452K	5x	as long as short
Bulk LIT-USDlong	+0.0100%	1h	4.7566	long leg	$119K	$6K	10x
Bitget LITUSDT	+0.0100%	4h	4.7900	+0.702%	$6.8M	$2.7M	20x	as long as short
Backpack LIT_USDC_PERPshort	+0.0100%	1h	4.7901	+0.704%	$680K	$1.4M	5x
ApeX Omni LITUSDT	+0.0100%	1h	4.7830	+0.555%	$56K	$77K	50x	as long as short
Polymarket Perps LIT-USD	+0.0100%	1h	4.7869	+0.637%	$452K	$105K	10x	as long as short
Derive LIT-PERP	+0.0100%	1h	4.7904	+0.711%	$2K	$650	6.7x	as long as short
SunX LIT-USDT	+0.0100%	4h	4.7873	+0.645%	$4K	$1.2M	20x	as long as short
SoDEX LIT-USD	+0.0100%	1h	4.7860	+0.618%	$1K	$466K	5x	as long as short
HTX LIT-USDT	+0.0100%	4h	4.7912	+0.727%	$192K	$329K	30x	as long as short
Extended LIT-USD	+0.0104%	1h	4.7858	+0.615%	$5.3M	$5.1M	25x	as long as short
Lighter RH LIT	+0.0112%	1h	4.7945	+0.797%	$3.7M	$13.8M	5x	as long as short
BloFin LIT-USDT	+0.0267%	4h	4.7834	+0.563%	$1.6M	$2.1M	75x	as long as short
Hyperliquid LIT	+0.0268%	1h	4.7957	+0.822%	$215.0M	$44.8M	5x	as long as short
GMX LIT/USD [ETH-USDC]	L +0.0378% / S −0.0169%	1h	4.7900	+0.702%	$63K	—	50x	as long as short