Funding arb · Price arb /

LIT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:29 UTC−0.0197%/8h= −21.5% APRpaid last 24h −0.003%

Price spread now: Perpl against Hyperliquid−0.269%7-day average −0.097% · you buy dearer than you sell

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

Long on Hyperliquid Short on Perpl

What this pair did over the last

the charts below follow

Funding, last 7 days−0.316%−$32 on $10k

Price spread, last 7 days+0.074%+$7 · spread now −0.269%, 7d avg −0.097%

Together, before fees−0.242%+ Points / potential airdropHyperliquid: Season 2 · Perpl: Active · farm board−$24 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Perpl is 0.172% cheaper against Hyperliquid than usual: you would sell low and buy high (−$17 if the spread goes back to its 7-day average of −0.097%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid LIT	4.7464	0.0197	pay 0.0025% / 1h	4m 43s	$212.8M	$45.0M	5x
Short	Perpl LIT	4.7336	0	get 0.0000% / 43m	0m 43s	$31K	$854K	33x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Perpl against Hyperliquid. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 PerplbpOrdersPrice spread, now −0.269%Rate

Funding earned: −$41.27
Price spread: −0.269% → −0.097%: −$17.23
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Perpl: 6.9 bp × 2 orders: −$13.8
Net: −$81.29
Costs to cover: 0.228%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 9 min ago; 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 Hyperliquid live order book, 9 min ago	0.85 bp	9.5 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell Perpl no order-book sample	—	—	—	—	—

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	−0.0824%	1h	4.7326	−0.290%	$42K	$40K	10x	as long as short
Gate LIT_USDT	−0.0818%	4h	4.7410	−0.114%	$2.8M	$4.6M	50x	as long as short
01 Exchange LITUSD	−0.0560%	1h	4.7168	−0.624%	$33K	$4K	5x	as long as short
Orderly PERP_LIT_USDC	−0.0540%	4h	4.7255	−0.440%	$32K	$2K	10x	as long as short
Bullet LIT-USD	−0.0368%	1h	4.7310	−0.325%	$85K	$77K	20x	as long as short
OKX LIT-USDT-SWAP	−0.0333%	4h	4.7402	−0.131%	$25.7M	$64.1M	50x	as long as short
Phemex LITUSDT	−0.0301%	4h	4.7310	−0.324%	$1.4M	$2.7M	20x	as long as short
KuCoin LITUSDTM	−0.0156%	4h	4.7363	−0.213%	$5.2M	$1.1M	30x	as long as short
Coinbase International LIT-PERP-INTX	−0.0120%	1h	4.7608	+0.304%	$673K	$402K	50x	as long as short
GRVT LIT_USDT_Perp	−0.0072%	4h	4.7370	−0.198%	$907K	$1.8M	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix LIT	−0.0050%	1h	4.7386	−0.164%	$205K	$353K	5x	as long as short
Perpl LITshort	0.0000%	43m	4.7336	−0.269%	$31K	$854K	33x
dYdX LIT-USD	0.0000%	1h	4.7403	−0.128%	$34K	—	5x	as long as short
gTrade (Gains Network) LIT/USD	L +0.0003% / S −0.0003%	1h	4.7362	−0.215%	$35K	—	150x	as long as short
RISEx LIT/USDC	+0.0012%	1h	4.7283	−0.380%	$803K	$2.1M	5x	as long as short
Injective LIT/USDC PERP	+0.0033%	1h	4.8040	+1.214%	$422	$178K	5.5x	as long as short
Paradex LIT-USD-PERP	+0.0034%	8h	4.7372	−0.195%	$7K	$2K	5x	as long as short
Bybit LITUSDT	+0.0046%	4h	4.7380	−0.177%	$42.7M	$30.3M	75x	as long as short
Backpack LIT_USDC_PERP	+0.0082%	1h	4.7357	−0.225%	$682K	$1.4M	5x	as long as short
Lighter LIT	+0.0096%	1h	4.7443	−0.044%	$59.3M	$30.7M	5x	as long as short
Nado LIT-PERP	+0.0100%	1h	4.7276	−0.395%	$2.2M	$1.7M	10x	as long as short
Aster LITUSDT	+0.0100%	4h	4.7420	−0.093%	$12.7M	$2.4M	50x	as long as short
Pacifica LIT	+0.0100%	1h	4.7411	−0.112%	$590K	$1.7M	10x	as long as short
Binance LITUSDT	+0.0100%	4h	4.7366	−0.206%	$75.5M	$82.1M	75x	as long as short
Arcus LIT-USD	+0.0100%	1h	4.7268	−0.413%	$117K	$459K	5x	as long as short
Bulk LIT-USD	+0.0100%	1h	4.7291	−0.365%	$118K	$2K	10x	as long as short
MEXC LIT_USDT	+0.0100%	4h	4.7352	−0.236%	$5.7M	$4.1M	100x	as long as short
Bitget LITUSDT	+0.0100%	4h	4.7390	−0.156%	$6.7M	$2.8M	20x	as long as short
edgeX LITUSDC	+0.0100%	4h	4.7325	−0.293%	$288K	$310K	10x	as long as short
ApeX Omni LITUSDT	+0.0100%	1h	4.7380	−0.177%	$56K	$77K	50x	as long as short
Polymarket Perps LIT-USD	+0.0100%	1h	4.7324	−0.295%	$447K	$105K	10x	as long as short
Derive LIT-PERP	+0.0100%	1h	4.7366	−0.206%	$2K	—	6.7x	as long as short
SunX LIT-USDT	+0.0100%	4h	4.7218	−0.518%	$4K	$1.2M	20x	as long as short
SoDEX LIT-USD	+0.0100%	1h	4.7335	−0.272%	$999	$470K	5x	as long as short
HTX LIT-USDT	+0.0100%	4h	4.7287	−0.373%	$189K	$346K	30x	as long as short
Extended LIT-USD	+0.0104%	1h	4.7336	−0.270%	$5.2M	$5.2M	25x	as long as short
Aevo LIT-PERP	+0.0104%	1h	4.7349	−0.243%	$148K	$44K	3x	as long as short
Lighter RH LIT	+0.0184%	1h	4.7459	−0.011%	$3.7M	$14.0M	5x	as long as short
Aftermath Perps LITUSD	+0.0188%	1h	4.7360	−0.218%	$13K	$203K	10x	as long as short
Hyperliquid LITlong	+0.0197%	1h	4.7464	long leg	$212.8M	$45.0M	5x
BloFin LIT-USDT	+0.0340%	4h	4.7295	−0.356%	$1.6M	$2.1M	75x	as long as short
GMX LIT/USD [ETH-USDC]	L +0.0380% / S −0.0172%	1h	4.7352	−0.236%	$63K	—	50x	as long as short