Funding arb · Price arb /

LIT

all LIT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0061%/8h= +6.7% APRpaid last 24h +0.041%

Price spread now: Backpack against Bybit+0.068%7-day average +0.249% · you sell dearer than you buy

Net, funding: paid 7d − costs−$44as in the Funding arb table

Net, price: spread back to 7d avg − costs−$77as in the Price arb table

costs, in and out, $10k−$590.588% of the position

Long on Bybit Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.153%+$15 on $10k

Price spread, last 7 days−1.026%−$103 · spread now +0.068%, 7d avg +0.249%

Together, before fees−0.873%−$87 on $10k · with fees, hour by hour

Funding pays, the price is against you. Backpack is 0.180% cheaper against Bybit than usual: you would sell low and buy high (spread +0.068% now, against its 7-day average of +0.249%). If the spread goes back, that is −$18 on $10k: about 9.9 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit LITUSDT	4.8416	0.0039	pay 0.0020% / 4h	2h 19m	$42.0M	$28.7M	75x
Short	Backpack LIT_USDC_PERP	4.8449	0.0100	get 0.0013% / 1h	19m 30s	$679K	$1.1M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Bybit. 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 BybitbpFee BackpackbpOrdersPrice spread, now +0.068%Rate

Funding earned: $12.8
Price spread: +0.068% → +0.249%: −$18.05
Slippage, 4 orders: −$37.84
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$64.09
Costs to cover: 0.588%
Break-even: 42.0 days

Slippage from Bybit: live order book, 4 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 Bybit live order book, 4 min ago	1.05 bp	21.7 bp −$22	61.7 bp −$617	doesn't fit	doesn't fit
Sell Backpack live order book, 4 min ago	0.10 bp	6.7 bp −$7	18.4 bp −$184	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
Coinbase International LIT-PERP-INTX	−0.0448%	1h	4.8470	+0.112%	$613K	$370K	50x	as long as short
Orderly PERP_LIT_USDC	−0.0355%	4h	4.8349	−0.138%	$33K	$1K	10x	as long as short
Deribit LIT_USDC-PERPETUAL	−0.0274%	1h	4.8424	+0.017%	$42K	$40K	10x	as long as short
01 Exchange LITUSD	−0.0224%	1h	4.8438	+0.045%	$32K	$4K	5x	as long as short
Phemex LITUSDT	−0.0186%	4h	4.8390	−0.054%	$1.4M	$2.8M	20x	as long as short
Bullet LIT-USD	−0.0176%	1h	4.8436	+0.042%	$87K	$66K	20x	as long as short
GRVT LIT_USDT_Perp	−0.0144%	4h	4.7790	−1.293%	$891K	$1.9M	10x	as long as short
OKX LIT-USDT-SWAP	−0.0141%	4h	4.8384	−0.066%	$26.0M	$62.4M	50x	as long as short
Phoenix LIT	−0.0017%	1h	4.8141	−0.568%	$207K	$283K	5x	as long as short
RISEx LIT/USDC	−0.0012%	1h	4.8449	+0.068%	$841K	$2.2M	5x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX LIT-USD	0.0000%	1h	4.8442	+0.053%	$35K	—	5x	as long as short
gTrade (Gains Network) LIT/USD	L +0.0003% / S −0.0002%	1h	4.8472	+0.116%	$12K	—	150x	as long as short
Injective LIT/USDC PERP	+0.0033%	1h	4.8040	−0.777%	$422	$178K	5.5x	as long as short
Bybit LITUSDTlong	+0.0039%	4h	4.8416	long leg	$42.0M	$28.7M	75x
KuCoin LITUSDTM	+0.0042%	4h	4.8450	+0.070%	$5.5M	$1.0M	30x	as long as short
Paradex LIT-USD-PERP	+0.0094%	8h	4.8419	+0.007%	$7K	$2K	5x	as long as short
Lighter LIT	+0.0096%	1h	4.8496	+0.165%	$60.4M	$28.2M	5x	as long as short
Nado LIT-PERP	+0.0100%	1h	4.8390	−0.054%	$2.2M	$1.7M	10x	as long as short
Pacifica LIT	+0.0100%	1h	4.8486	+0.145%	$620K	$1.7M	10x	as long as short
Binance LITUSDT	+0.0100%	4h	4.8399	−0.036%	$77.8M	$77.1M	75x	as long as short
Arcus LIT-USD	+0.0100%	1h	4.8429	+0.027%	$116K	$465K	5x	as long as short
Bulk LIT-USD	+0.0100%	1h	4.7822	−1.226%	$119K	$7K	10x	as long as short
Gate LIT_USDT	+0.0100%	4h	4.8460	+0.091%	$2.8M	$4.2M	50x	as long as short
MEXC LIT_USDT	+0.0100%	4h	4.8425	+0.019%	$6.0M	$3.9M	100x	as long as short
Bitget LITUSDT	+0.0100%	4h	4.8440	+0.050%	$6.9M	$2.5M	20x	as long as short
Backpack LIT_USDC_PERPshort	+0.0100%	1h	4.8449	+0.068%	$679K	$1.1M	5x
edgeX LITUSDC	+0.0100%	4h	4.8045	−0.765%	$294K	$304K	10x	as long as short
ApeX Omni LITUSDT	+0.0100%	1h	4.7750	−1.376%	$57K	$74K	50x	as long as short
Polymarket Perps LIT-USD	+0.0100%	1h	4.8414	−0.004%	$455K	$84K	10x	as long as short
Derive LIT-PERP	+0.0100%	1h	4.8434	+0.037%	$2K	—	6.7x	as long as short
SunX LIT-USDT	+0.0100%	4h	4.8361	−0.114%	$4K	$1.1M	20x	as long as short
SoDEX LIT-USD	+0.0100%	1h	4.8400	−0.033%	$1K	$335K	5x	as long as short
HTX LIT-USDT	+0.0100%	4h	4.8334	−0.169%	$201K	$342K	30x	as long as short
Extended LIT-USD	+0.0104%	1h	4.8403	−0.028%	$5.3M	$5.0M	25x	as long as short
Aevo LIT-PERP	+0.0104%	1h	4.8405	−0.023%	$151K	—	3x	as long as short
Hyperliquid LIT	+0.0166%	1h	4.8481	+0.134%	$217.8M	$40.6M	5x	as long as short
Lighter RH LIT	+0.0192%	1h	4.8514	+0.202%	$3.7M	$13.2M	5x	as long as short
Aster LITUSDT	+0.0225%	4h	4.8500	+0.173%	$13.0M	$2.0M	50x	as long as short
Aftermath Perps LITUSD	+0.0308%	1h	4.7889	−1.089%	$15K	$211K	10x	as long as short
BloFin LIT-USDT	+0.0340%	4h	4.8106	−0.640%	$1.6M	$2.0M	75x	as long as short
GMX LIT/USD [ETH-USDC]	L +0.0444% / S −0.0231%	1h	4.8461	+0.093%	$67K	—	50x	as long as short
Perpl LIT	+0.0447%	43m	4.8423	+0.015%	$33K	$684K	33x	as long as short