Funding arb · Price arb /

LIT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:23 UTC+0.0347%/8h= +37.9% APRpaid last 24h +0.058%

Price spread now: Perpl against Derive−0.258%173s7-day average — · you buy dearer than you sell

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

Long on Derive Short on Perpl

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropPerpl: Active · farm boardneeds both histories

Funding pays, the price is against you. Perpl is 0.258% cheaper against Derive than usual: you would sell low and buy high (spread −0.258% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$26 on $10k: about 2.5 days of funding at the current rate (+$10 a day). The two prices were read 173 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	Derive LIT-PERP	4.8239	0.0100	pay 0.0013% / 1h	53m 33s	$2K	$961	6.7x
Short	Perpl LIT	4.8114	0.0447	get 0.0040% / 43m	25m 33s	$32K	$639K	33x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Perpl against Derive. 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 DerivebpFee PerplbpOrdersPrice spread, now −0.258%Rate

Funding earned: $72.77
Price spread: −0.258% → 0.000%: −$25.78
Slippage, 4 orders: no order book: not counted
Fee Derive: 3 bp × 2 orders: −$6
Fee Perpl: 6.9 bp × 2 orders: −$13.8
Net: $27.19
Costs to cover: 0.198%
Break-even: 4.4 days

Slippage unknown: Derive: no order-book sample; Perpl: no order-book sample. 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 Derive no order-book sample	—	—	—	—	—
Sell Perpl no order-book sample	—	—	—	—	—

Derive and Perpl: 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	−0.0588%	1h	4.8052	−0.388%	$42K	$39K	10x	as long as short
Orderly PERP_LIT_USDC	−0.0364%	4h	4.8000	−0.495%	$33K	$1K	10x	as long as short
Coinbase International LIT-PERP-INTX	−0.0304%	1h	4.7968	−0.563%	$608K	$349K	50x	as long as short
Bullet LIT-USD	−0.0291%	1h	4.8054	−0.383%	$86K	$66K	20x	as long as short
01 Exchange LITUSD	−0.0248%	1h	4.8026	−0.441%	$31K	$3K	5x	as long as short
Bybit LITUSDT	−0.0224%	4h	4.8060	−0.371%	$41.8M	$27.5M	75x	as long as short
OKX LIT-USDT-SWAP	−0.0163%	4h	4.8060	−0.371%	$26.0M	$59.6M	50x	as long as short
GRVT LIT_USDT_Perp	−0.0028%	4h	4.8071	−0.349%	$890K	$2.0M	10x	as long as short
dYdX LIT-USD	0.0000%	1h	4.8111	−0.264%	$35K	—	5x	as long as short
gTrade (Gains Network) LIT/USD	L +0.0003% / S −0.0003%	1h	4.8107	−0.273%	$36K	—	150x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni LITUSDT	+0.0016%	1h	4.8010	−0.474%	$57K	$76K	50x	as long as short
Injective LIT/USDC PERP	+0.0033%	1h	4.8040	−0.412%	$422	$178K	5.5x	as long as short
Phoenix LIT	+0.0050%	1h	4.8338	+0.206%	$207K	$288K	5x	as long as short
Paradex LIT-USD-PERP	+0.0096%	8h	4.8047	−0.397%	$7K	$2K	5x	as long as short
Lighter LIT	+0.0096%	1h	4.8118	−0.251%	$59.9M	$25.9M	5x	as long as short
Nado LIT-PERP	+0.0100%	1h	4.8061	−0.368%	$2.1M	$1.7M	10x	as long as short
Hyperliquid LIT	+0.0100%	1h	4.8160	−0.163%	$217.6M	$38.5M	5x	as long as short
Pacifica LIT	+0.0100%	1h	4.8076	−0.338%	$713K	$1.8M	10x	as long as short
Binance LITUSDT	+0.0100%	4h	4.8033	−0.427%	$77.1M	$73.7M	75x	as long as short
Arcus LIT-USD	+0.0100%	1h	4.8081	−0.327%	$126K	$448K	5x	as long as short
Bulk LIT-USD	+0.0100%	1h	4.8183	−0.116%	$120K	−$0	10x	as long as short
Gate LIT_USDT	+0.0100%	4h	4.8090	−0.309%	$2.8M	$4.0M	50x	as long as short
MEXC LIT_USDT	+0.0100%	4h	4.8051	−0.389%	$6.2M	$3.9M	100x	as long as short
KuCoin LITUSDTM	+0.0100%	4h	4.8079	−0.331%	$5.5M	$929K	30x	as long as short
Bitget LITUSDT	+0.0100%	4h	4.8090	−0.309%	$6.9M	$2.4M	20x	as long as short
Backpack LIT_USDC_PERP	+0.0100%	1h	4.8093	−0.302%	$686K	$988K	5x	as long as short
edgeX LITUSDC	+0.0100%	4h	4.8278	+0.081%	$296K	$302K	10x	as long as short
Polymarket Perps LIT-USD	+0.0100%	1h	4.8116	−0.255%	$448K	$86K	10x	as long as short
Derive LIT-PERPlong	+0.0100%	1h	4.8239	long leg	$2K	$961	6.7x
SunX LIT-USDT	+0.0100%	4h	4.8017	−0.460%	$4K	$1.1M	20x	as long as short
SoDEX LIT-USD	+0.0100%	1h	4.8060	−0.371%	$1K	$333K	5x	as long as short
HTX LIT-USDT	+0.0100%	4h	4.8185	−0.112%	$194K	$312K	30x	as long as short
Phemex LITUSDT	+0.0100%	4h	4.8030	−0.433%	$1.4M	$2.7M	20x	as long as short
Extended LIT-USD	+0.0104%	1h	4.8050	−0.391%	$5.1M	$5.2M	25x	as long as short
Aevo LIT-PERP	+0.0104%	1h	4.8046	−0.400%	$150K	—	3x	as long as short
RISEx LIT/USDC	+0.0118%	1h	4.8094	−0.300%	$801K	$2.3M	5x	as long as short
Lighter RH LIT	+0.0128%	1h	4.8135	−0.215%	$3.7M	$12.2M	5x	as long as short
Aster LITUSDT	+0.0311%	4h	4.8123	−0.240%	$12.9M	$2.0M	50x	as long as short
BloFin LIT-USDT	+0.0340%	4h	4.8000	−0.495%	$1.6M	$2.3M	75x	as long as short
GMX LIT/USD [ETH-USDC]	L +0.0426% / S −0.0217%	1h	4.8082	−0.325%	$64K	—	50x	as long as short
Perpl LITshort	+0.0447%	43m	4.8114	−0.258%	$32K	$639K	33x
Aftermath Perps LITUSD	+0.0488%	1h	4.8096	−0.295%	$10K	$202K	10x	as long as short