Funding arb · Price arb /

LIT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0089%/8h= −9.7% APRpaid last 24h −0.061%

Price spread now: Phemex against Injective−0.874%7-day average +10.093% · you buy dearer than you sell

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

Long on Injective Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.078%−$8 on $10k

Price spread, last 3 days (all we have)+15.674%+$1,567 · spread now −0.874%, 7d avg +10.093%

Together, before fees+15.597%+$1,560 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 Phemex is 10.967% cheaper against Injective than usual: you would sell low and buy high (−$1,097 if the spread goes back to its 7-day average of +10.093%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective LIT/USDC PERP	4.8040	0.0033	pay 0.0004% / 1h	33m 18s	$422	$178K	5.5x
Short	Phemex LITUSDT	4.7620	−0.0056	pay 0.0028% / 4h	3h 33m	$1.4M	$2.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Injective. 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 InjectivebpFee PhemexbpOrdersPrice spread, now −0.874%Rate

Funding earned: −$18.68
Price spread: −0.874% → +10.093%: −$1,096.73
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$1,127.43
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; Phemex: live order book, 5 min ago. 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 Injective no order-book sample	—	—	—	—	—
Sell Phemex live order book, 5 min ago	4.19 bp	26.1 bp −$26	doesn't fit	doesn't fit	doesn't fit

Injective: 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	−0.0893%	1h	4.7624	−0.867%	$42K	$40K	10x	as long as short
Orderly PERP_LIT_USDC	−0.0518%	4h	4.7565	−0.989%	$33K	$2K	10x	as long as short
01 Exchange LITUSD	−0.0440%	1h	4.7577	−0.964%	$33K	$4K	5x	as long as short
Bullet LIT-USD	−0.0379%	1h	4.7626	−0.862%	$85K	$75K	20x	as long as short
OKX LIT-USDT-SWAP	−0.0224%	4h	4.7648	−0.816%	$25.9M	$64.3M	50x	as long as short
KuCoin LITUSDTM	−0.0150%	4h	4.7671	−0.768%	$5.3M	$1.1M	30x	as long as short
Coinbase International LIT-PERP-INTX	−0.0088%	1h	4.7831	−0.435%	$676K	$406K	50x	as long as short
Phemex LITUSDTshort	−0.0056%	4h	4.7620	−0.874%	$1.4M	$2.7M	20x
GRVT LIT_USDT_Perp	−0.0052%	4h	4.7744	−0.617%	$917K	$1.8M	10x	as long as short
Phoenix LIT	−0.0034%	1h	4.7755	−0.593%	$207K	$361K	5x	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	−0.0032%	1h	4.7760	−0.583%	$56K	$77K	50x	as long as short
Perpl LIT	0.0000%	43m	4.7699	−0.709%	$32K	$856K	33x	as long as short
gTrade (Gains Network) LIT/USD	L +0.0003% / S −0.0002%	1h	4.7691	−0.727%	$11K	—	150x	as long as short
dYdX LIT-USD	+0.0005%	1h	4.7692	−0.724%	$34K	—	5x	as long as short
Nado LIT-PERP	+0.0022%	1h	4.7653	−0.805%	$2.2M	$1.7M	10x	as long as short
Injective LIT/USDC PERPlong	+0.0033%	1h	4.8040	long leg	$422	$178K	5.5x
Paradex LIT-USD-PERP	+0.0038%	8h	4.7628	−0.857%	$7K	$2K	5x	as long as short
Polymarket Perps LIT-USD	+0.0069%	1h	4.7662	−0.787%	$450K	$104K	10x	as long as short
Lighter LIT	+0.0096%	1h	4.7699	−0.710%	$59.7M	$29.8M	5x	as long as short
Aster LITUSDT	+0.0100%	4h	4.7718	−0.670%	$12.8M	$2.3M	50x	as long as short
Pacifica LIT	+0.0100%	1h	4.7695	−0.718%	$592K	$1.7M	10x	as long as short
Binance LITUSDT	+0.0100%	4h	4.7608	−0.899%	$76.0M	$81.1M	75x	as long as short
Bybit LITUSDT	+0.0100%	4h	4.7620	−0.874%	$42.9M	$29.9M	75x	as long as short
Arcus LIT-USD	+0.0100%	1h	4.7681	−0.747%	$118K	$450K	5x	as long as short
Bulk LIT-USD	+0.0100%	1h	4.7740	−0.624%	$119K	$1K	10x	as long as short
Gate LIT_USDT	+0.0100%	4h	4.7680	−0.749%	$2.8M	$4.5M	50x	as long as short
MEXC LIT_USDT	+0.0100%	4h	4.7616	−0.883%	$5.7M	$4.2M	100x	as long as short
Bitget LITUSDT	+0.0100%	4h	4.7700	−0.708%	$6.8M	$2.8M	20x	as long as short
Backpack LIT_USDC_PERP	+0.0100%	1h	4.7763	−0.577%	$688K	$1.4M	5x	as long as short
edgeX LITUSDC	+0.0100%	4h	4.7770	−0.563%	$291K	$309K	10x	as long as short
Derive LIT-PERP	+0.0100%	1h	4.7659	−0.794%	$2K	—	6.7x	as long as short
SunX LIT-USDT	+0.0100%	4h	4.7633	−0.847%	$4K	$1.2M	20x	as long as short
SoDEX LIT-USD	+0.0100%	1h	4.7631	−0.851%	$995	$461K	5x	as long as short
HTX LIT-USDT	+0.0100%	4h	4.7841	−0.414%	$191K	$346K	30x	as long as short
Extended LIT-USD	+0.0104%	1h	4.7622	−0.871%	$5.2M	$5.1M	25x	as long as short
Aevo LIT-PERP	+0.0104%	1h	4.7615	−0.884%	$149K	—	3x	as long as short
RISEx LIT/USDC	+0.0119%	1h	4.7697	−0.714%	$795K	$2.0M	5x	as long as short
Lighter RH LIT	+0.0144%	1h	4.7724	−0.658%	$3.7M	$13.7M	5x	as long as short
Hyperliquid LIT	+0.0268%	1h	4.7766	−0.570%	$214.3M	$44.2M	5x	as long as short
BloFin LIT-USDT	+0.0340%	4h	4.7617	−0.881%	$1.6M	$2.1M	75x	as long as short
Aftermath Perps LITUSD	+0.0355%	1h	4.7702	−0.704%	$10K	$205K	10x	as long as short
GMX LIT/USD [ETH-USDC]	L +0.0395% / S −0.0184%	1h	4.7658	−0.796%	$64K	—	50x	as long as short