Funding arb · Price arb /

LIT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0491%/8h= −53.7% APRpaid last 24h −0.197%

Price spread now: Orderly against Hyperliquid−0.177%7-day average — · you buy dearer than you sell

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

Long on Hyperliquid Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropHyperliquid: Season 2 · farm boardneeds both histories

Both sides work against this trade now: funding costs −$15 a day on $10k at the current rate, and Orderly is 0.177% cheaper against Hyperliquid than usual: you would sell low and buy high (−$18 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid LIT	4.6724	0.0100	pay 0.0013% / 1h	48m 39s	$208.9M	$41.8M	5x
Short	Orderly PERP_LIT_USDC	4.6641	−0.0391	pay 0.0195% / 4h	48m 39s	$32K	$1K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Hyperliquid. 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 HyperliquidbpFee OrderlybpOrdersPrice spread, now −0.177%Rate

Funding earned: −$103.07
Price spread: −0.177% → 0.000%: −$17.75
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$135.82
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 5 min ago; Orderly: 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 Hyperliquid live order book, 5 min ago	1.38 bp	9.4 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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
01 Exchange LITUSD	−0.0520%	1h	4.6605	−0.255%	$32K	$4K	5x	as long as short
Orderly PERP_LIT_USDCshort	−0.0391%	4h	4.6641	−0.177%	$32K	$1K	10x
Bullet LIT-USD	−0.0279%	1h	4.6696	−0.060%	$84K	$68K	20x	as long as short
Backpack LIT_USDC_PERP	−0.0253%	1h	4.6733	+0.019%	$662K	$1.4M	5x	as long as short
Deribit LIT_USDC-PERPETUAL	−0.0221%	1h	4.6714	−0.022%	$41K	$40K	10x	as long as short
Gate LIT_USDT	−0.0216%	4h	4.6670	−0.115%	$2.7M	$4.2M	50x	as long as short
Coinbase International LIT-PERP-INTX	−0.0192%	1h	4.6848	+0.264%	$612K	$404K	50x	as long as short
Phemex LITUSDT	−0.0134%	4h	4.6680	−0.094%	$1.3M	$2.8M	20x	as long as short
ApeX Omni LITUSDT	−0.0038%	1h	4.6740	+0.034%	$56K	$76K	50x	as long as short
Phoenix LIT	−0.0034%	1h	4.6719	−0.011%	$201K	$305K	5x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit LITUSDT	−0.0034%	4h	4.6641	−0.177%	$41.2M	$28.6M	75x	as long as short
KuCoin LITUSDTM	−0.0020%	4h	4.6750	+0.056%	$5.2M	$1.0M	30x	as long as short
OKX LIT-USDT-SWAP	0.0000%	4h	4.6675	−0.105%	$25.1M	$61.2M	50x	as long as short
dYdX LIT-USD	0.0000%	1h	4.6722	−0.005%	$34K	—	5x	as long as short
gTrade (Gains Network) LIT/USD	L +0.0003% / S −0.0002%	1h	4.6732	+0.018%	$11K	—	150x	as long as short
Polymarket Perps LIT-USD	+0.0021%	1h	4.6684	−0.085%	$436K	$109K	10x	as long as short
Extended LIT-USD	+0.0032%	1h	4.6627	−0.208%	$5.1M	$5.0M	25x	as long as short
Injective LIT/USDC PERP	+0.0033%	1h	4.8040	+2.817%	$422	$178K	5.5x	as long as short
Nado LIT-PERP	+0.0040%	1h	4.6645	−0.168%	$2.1M	$1.7M	10x	as long as short
Paradex LIT-USD-PERP	+0.0061%	8h	4.6634	−0.194%	$7K	$2K	5x	as long as short
GRVT LIT_USDT_Perp	+0.0072%	4h	4.6863	+0.298%	$908K	$1.7M	10x	as long as short
RISEx LIT/USDC	+0.0073%	1h	4.6702	−0.046%	$779K	$2.1M	5x	as long as short
Lighter LIT	+0.0096%	1h	4.6699	−0.053%	$58.2M	$28.5M	5x	as long as short
Lighter RH LIT	+0.0096%	1h	4.6714	−0.021%	$3.6M	$13.1M	5x	as long as short
Hyperliquid LITlong	+0.0100%	1h	4.6724	long leg	$208.9M	$41.8M	5x
Pacifica LIT	+0.0100%	1h	4.6678	−0.098%	$582K	$1.6M	10x	as long as short
Binance LITUSDT	+0.0100%	4h	4.6652	−0.154%	$74.5M	$79.0M	75x	as long as short
Arcus LIT-USD	+0.0100%	1h	4.6705	−0.041%	$121K	$454K	5x	as long as short
Bulk LIT-USD	+0.0100%	1h	4.6887	+0.349%	$117K	$973	10x	as long as short
MEXC LIT_USDT	+0.0100%	4h	4.6639	−0.182%	$5.5M	$3.9M	100x	as long as short
Bitget LITUSDT	+0.0100%	4h	4.6700	−0.051%	$6.7M	$2.6M	20x	as long as short
edgeX LITUSDC	+0.0100%	4h	4.6866	+0.305%	$286K	$303K	10x	as long as short
Derive LIT-PERP	+0.0100%	1h	4.6732	+0.017%	$2K	—	6.7x	as long as short
SunX LIT-USDT	+0.0100%	4h	4.6698	−0.055%	$4K	$1.2M	20x	as long as short
SoDEX LIT-USD	+0.0100%	1h	4.6705	−0.041%	$1K	$390K	5x	as long as short
HTX LIT-USDT	+0.0100%	4h	4.6716	−0.017%	$197K	$388K	30x	as long as short
Aevo LIT-PERP	+0.0104%	1h	4.6682	−0.090%	$146K	—	3x	as long as short
Aftermath Perps LITUSD	+0.0163%	1h	4.6814	+0.193%	$8K	$206K	10x	as long as short
Aster LITUSDT	+0.0182%	4h	4.6750	+0.055%	$12.5M	$2.0M	50x	as long as short
Perpl LIT	+0.0335%	43m	4.6690	−0.072%	$31K	$794K	33x	as long as short
BloFin LIT-USDT	+0.0340%	4h	4.6686	−0.081%	$1.5M	$1.9M	75x	as long as short
GMX LIT/USD [ETH-USDC]	L +0.0418% / S −0.0217%	1h	4.6726	+0.005%	$62K	—	50x	as long as short