Funding arb · Price arb /

LIT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0529%/8h= +58.0% APRpaid last 24h +0.021%

Price spread now: Phemex against Bullet−0.032%49s7-day average — · you buy dearer than you sell

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

Long on Bullet Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 3 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. Phemex is 0.032% cheaper against Bullet than usual: you would sell low and buy high (spread −0.032% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 5 hours of funding at the current rate (+$16 a day). The two prices were read 49 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bullet LIT-USD	4.6835	−0.0429	get 0.0054% / 1h	41m 29s	$84K	$73K	20x
Short	Phemex LITUSDT	4.6820	0.0100	get 0.0050% / 4h	2h 41m	$1.4M	$2.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Bullet. 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 BulletbpFee PhemexbpOrdersPrice spread, now −0.032%Rate

Funding earned: $111.15
Price spread: −0.032% → 0.000%: −$3.2
Slippage, 4 orders: no order book: not counted
Fee Bullet: 4 bp × 2 orders: −$8
Fee Phemex: 6 bp × 2 orders: −$12
Net: $87.94
Costs to cover: 0.200%
Break-even: 1.5 days

Slippage unknown: Bullet: no order-book sample; Phemex: live order book, 2 min ago. 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 Bullet no order-book sample	—	—	—	—	—
Sell Phemex live order book, 2 min ago	3.19 bp	28.2 bp −$28	doesn't fit	doesn't fit	doesn't fit

Bullet: 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.

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	−0.0753%	1h	4.6828	−0.016%	$41K	$40K	10x	as long as short
01 Exchange LITUSD	−0.0600%	1h	4.6790	−0.096%	$33K	$4K	5x	as long as short
Orderly PERP_LIT_USDC	−0.0467%	4h	4.6752	−0.177%	$32K	$2K	10x	as long as short
Bullet LIT-USDlong	−0.0429%	1h	4.6835	long leg	$84K	$73K	20x
OKX LIT-USDT-SWAP	−0.0176%	4h	4.6850	+0.032%	$25.5M	$63.5M	50x	as long as short
Gate LIT_USDT	−0.0166%	4h	4.6880	+0.096%	$2.8M	$4.3M	50x	as long as short
Backpack LIT_USDC_PERP	−0.0160%	1h	4.6910	+0.160%	$680K	$1.4M	5x	as long as short
KuCoin LITUSDTM	−0.0138%	4h	4.6854	+0.041%	$5.2M	$1.1M	30x	as long as short
GRVT LIT_USDT_Perp	−0.0132%	4h	4.7027	+0.410%	$893K	$1.8M	10x	as long as short
Phoenix LIT	−0.0102%	1h	4.6873	+0.081%	$202K	$352K	5x	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	−0.0080%	1h	4.7209	+0.798%	$668K	$387K	50x	as long as short
dYdX LIT-USD	0.0000%	1h	4.6903	+0.145%	$34K	—	5x	as long as short
gTrade (Gains Network) LIT/USD	L +0.0003% / S 0.0000%	1h	4.6861	+0.055%	$469	—	150x	as long as short
Bulk LIT-USD	+0.0028%	1h	4.6991	+0.333%	$117K	$1K	10x	as long as short
Injective LIT/USDC PERP	+0.0033%	1h	4.8040	+2.573%	$422	$178K	5.5x	as long as short
Paradex LIT-USD-PERP	+0.0037%	8h	4.6830	−0.011%	$7K	$2K	5x	as long as short
ApeX Omni LITUSDT	+0.0044%	1h	4.6990	+0.331%	$56K	$77K	50x	as long as short
SoDEX LIT-USD	+0.0072%	1h	4.6835	0.000%	$1K	$453K	5x	as long as short
RISEx LIT/USDC	+0.0081%	1h	4.6890	+0.119%	$781K	$2.0M	5x	as long as short
Lighter LIT	+0.0096%	1h	4.6913	+0.167%	$58.8M	$29.3M	5x	as long as short
Nado LIT-PERP	+0.0100%	1h	4.6835	0.000%	$2.2M	$1.7M	10x	as long as short
Hyperliquid LIT	+0.0100%	1h	4.6927	+0.196%	$210.3M	$44.3M	5x	as long as short
Aster LITUSDT	+0.0100%	4h	4.6934	+0.211%	$12.6M	$2.1M	50x	as long as short
Pacifica LIT	+0.0100%	1h	4.6863	+0.060%	$581K	$1.7M	10x	as long as short
Binance LITUSDT	+0.0100%	4h	4.6826	−0.018%	$74.8M	$80.5M	75x	as long as short
Bybit LITUSDT	+0.0100%	4h	4.6852	+0.036%	$42.1M	$29.8M	75x	as long as short
Arcus LIT-USD	+0.0100%	1h	4.6858	+0.049%	$116K	$448K	5x	as long as short
MEXC LIT_USDT	+0.0100%	4h	4.6813	−0.047%	$5.5M	$4.1M	100x	as long as short
Bitget LITUSDT	+0.0100%	4h	4.6900	+0.139%	$6.7M	$2.7M	20x	as long as short
edgeX LITUSDC	+0.0100%	4h	4.6997	+0.346%	$286K	$304K	10x	as long as short
Polymarket Perps LIT-USD	+0.0100%	1h	4.6856	+0.045%	$443K	$104K	10x	as long as short
Derive LIT-PERP	+0.0100%	1h	4.6862	+0.057%	$2K	—	6.7x	as long as short
SunX LIT-USDT	+0.0100%	4h	4.6868	+0.070%	$4K	$1.2M	20x	as long as short
HTX LIT-USDT	+0.0100%	4h	4.7061	+0.483%	$188K	$354K	30x	as long as short
Phemex LITUSDTshort	+0.0100%	4h	4.6820	−0.032%	$1.4M	$2.7M	20x
Lighter RH LIT	+0.0104%	1h	4.6933	+0.209%	$3.7M	$13.2M	5x	as long as short
Extended LIT-USD	+0.0104%	1h	4.6824	−0.025%	$5.1M	$5.1M	25x	as long as short
Aevo LIT-PERP	+0.0104%	1h	4.6809	−0.055%	$146K	—	3x	as long as short
Aftermath Perps LITUSD	+0.0318%	1h	4.7051	+0.461%	$8K	$210K	10x	as long as short
BloFin LIT-USDT	+0.0340%	4h	4.7139	+0.649%	$1.6M	$2.0M	75x	as long as short
GMX LIT/USD [ETH-USDC]	L +0.0402% / S −0.0196%	1h	4.6852	+0.037%	$63K	—	50x	as long as short
Perpl LIT	+0.0447%	43m	4.6884	+0.105%	$31K	$861K	33x	as long as short