Funding arb · Price arb /

LIT

all LIT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0083%/8h= −9.1% APRpaid last 24h −0.033%

Price spread now: Phoenix against HTX−0.110%72s7-day average −0.041% · you buy dearer than you sell

Net, funding: paid 7d − costs−$100as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$960.959% of the position

Long on HTX Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days−0.037%−$4 on $10k

Price spread, last 4 days (all we have)+0.060%+$6 · spread now −0.110%, 7d avg −0.041%

Together, before fees+0.023%+$2 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Phoenix is 0.069% cheaper against HTX than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.041%). Swap the legs. The two prices were read 72 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	HTX LIT-USDT	4.8185	0.0100	pay 0.0050% / 4h	3h 51m	$194K	$312K	30x
Short	Phoenix LIT	4.8132	0.0017	get 0.0002% / 1h	51m 50s	$207K	$288K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against HTX. 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 HTXbpFee PhoenixbpOrdersPrice spread, now −0.110%Rate

Funding earned: −$17.51
Price spread: −0.110% → −0.041%: −$6.85
Slippage, 4 orders: −$76.92
Fee HTX: 6 bp × 2 orders: −$12
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$120.28
Costs to cover: 0.959%
Break-even: never at this rate

Slippage from HTX: live order book, 45 min ago; Phoenix: live order book, 44 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 HTX live order book, 45 min ago	20.74 bp	31.9 bp −$32	212.5 bp −$2,125	doesn't fit	doesn't fit
Sell Phoenix live order book, 44 min ago	2.09 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	−0.0539%	1h	4.8119	−0.138%	$42K	$39K	10x	as long as short
Orderly PERP_LIT_USDC	−0.0365%	4h	4.8074	−0.230%	$33K	$1K	10x	as long as short
Bullet LIT-USD	−0.0326%	1h	4.8142	−0.090%	$86K	$66K	20x	as long as short
Coinbase International LIT-PERP-INTX	−0.0304%	1h	4.7968	−0.451%	$608K	$349K	50x	as long as short
01 Exchange LITUSD	−0.0272%	1h	4.8136	−0.102%	$31K	$3K	5x	as long as short
GRVT LIT_USDT_Perp	−0.0246%	4h	4.7999	−0.386%	$888K	$2.0M	10x	as long as short
Bybit LITUSDT	−0.0195%	4h	4.8180	−0.010%	$41.9M	$27.4M	75x	as long as short
OKX LIT-USDT-SWAP	−0.0160%	4h	4.8132	−0.110%	$26.0M	$59.7M	50x	as long as short
dYdX LIT-USD	0.0000%	1h	4.8152	−0.069%	$35K	—	5x	as long as short
gTrade (Gains Network) LIT/USD	L +0.0003% / S −0.0003%	1h	4.8107	−0.162%	$36K	—	150x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix LITshort	+0.0017%	1h	4.8132	−0.110%	$207K	$288K	5x
Injective LIT/USDC PERP	+0.0033%	1h	4.8040	−0.301%	$422	$178K	5.5x	as long as short
ApeX Omni LITUSDT	+0.0091%	1h	4.7970	−0.446%	$57K	$76K	50x	as long as short
Paradex LIT-USD-PERP	+0.0096%	8h	4.8145	−0.084%	$7K	$2K	5x	as long as short
Lighter LIT	+0.0096%	1h	4.8185	0.000%	$60.0M	$25.9M	5x	as long as short
Nado LIT-PERP	+0.0100%	1h	4.8165	−0.042%	$2.1M	$1.7M	10x	as long as short
Hyperliquid LIT	+0.0100%	1h	4.8219	+0.071%	$217.9M	$38.5M	5x	as long as short
Pacifica LIT	+0.0100%	1h	4.8158	−0.056%	$715K	$1.8M	10x	as long as short
Binance LITUSDT	+0.0100%	4h	4.8116	−0.142%	$77.2M	$73.7M	75x	as long as short
Arcus LIT-USD	+0.0100%	1h	4.8169	−0.033%	$126K	$443K	5x	as long as short
Bulk LIT-USD	+0.0100%	1h	4.8183	−0.004%	$120K	−$0	10x	as long as short
Gate LIT_USDT	+0.0100%	4h	4.8160	−0.052%	$2.8M	$4.0M	50x	as long as short
MEXC LIT_USDT	+0.0100%	4h	4.8138	−0.098%	$6.2M	$3.9M	100x	as long as short
KuCoin LITUSDTM	+0.0100%	4h	4.8180	−0.010%	$5.5M	$928K	30x	as long as short
Bitget LITUSDT	+0.0100%	4h	4.8180	−0.010%	$6.9M	$2.4M	20x	as long as short
Backpack LIT_USDC_PERP	+0.0100%	1h	4.8163	−0.046%	$687K	$988K	5x	as long as short
edgeX LITUSDC	+0.0100%	4h	4.7984	−0.417%	$294K	$302K	10x	as long as short
Polymarket Perps LIT-USD	+0.0100%	1h	4.8197	+0.025%	$449K	$85K	10x	as long as short
Derive LIT-PERP	+0.0100%	1h	4.8239	+0.112%	$2K	$961	6.7x	as long as short
SunX LIT-USDT	+0.0100%	4h	4.8090	−0.197%	$5K	$1.1M	20x	as long as short
SoDEX LIT-USD	+0.0100%	1h	4.8123	−0.129%	$1K	$333K	5x	as long as short
HTX LIT-USDTlong	+0.0100%	4h	4.8185	long leg	$194K	$312K	30x
Phemex LITUSDT	+0.0100%	4h	4.8120	−0.135%	$1.4M	$2.7M	20x	as long as short
Extended LIT-USD	+0.0104%	1h	4.8143	−0.087%	$5.1M	$5.2M	25x	as long as short
Aevo LIT-PERP	+0.0104%	1h	4.8125	−0.124%	$150K	—	3x	as long as short
RISEx LIT/USDC	+0.0118%	1h	4.8202	+0.035%	$803K	$2.3M	5x	as long as short
Lighter RH LIT	+0.0120%	1h	4.8213	+0.058%	$3.7M	$12.2M	5x	as long as short
Aster LITUSDT	+0.0312%	4h	4.8214	+0.060%	$12.9M	$2.0M	50x	as long as short
Perpl LIT	+0.0335%	43m	4.8110	−0.155%	$32K	$639K	33x	as long as short
BloFin LIT-USDT	+0.0340%	4h	4.8071	−0.237%	$1.6M	$2.3M	75x	as long as short
GMX LIT/USD [ETH-USDC]	L +0.0427% / S −0.0217%	1h	4.8171	−0.029%	$64K	—	50x	as long as short
Aftermath Perps LITUSD	+0.0474%	1h	4.8110	−0.155%	$10K	$202K	10x	as long as short