Funding arb · Price arb /

LIT

all LIT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0066%/8h= −7.2% APRpaid last 24h −0.004%

Price spread now: edgeX against Lighter−0.164%79s7-day average −0.095% · you buy dearer than you sell

Net, funding: paid 7d − costs−$55as 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−$320.320% of the position

Long on Lighter Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.227%−$23 on $10k

Price spread, last 3 days (all we have)+0.113%+$11 · spread now −0.164%, 7d avg −0.095%

Together, before fees−0.114%+ Points / potential airdropLighter: Season 3 · edgeX: Active · farm board−$11 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and edgeX is 0.069% cheaper against Lighter than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.095%). Swap the legs. The two prices were read 79 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	Lighter LIT	4.7256	0.0096	pay 0.0012% / 1h	59m 59s	$59.3M	$30.4M	5x
Short	edgeX LITUSDC	4.7178	0.0030	get 0.0015% / 4h	1h 59m	$287K	$311K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Lighter. 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 LighterbpFee edgeXbpOrdersPrice spread, now −0.164%Rate

Funding earned: −$13.76
Price spread: −0.164% → −0.095%: −$6.91
Slippage, 4 orders: −$23.01
Fee Lighter: 0 bp × 2 orders: $0
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$52.68
Costs to cover: 0.320%
Break-even: never at this rate

Slippage from Lighter: live order book, 4 min ago; edgeX: live order book, 23 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 Lighter live order book, 4 min ago	1.80 bp	5.2 bp −$5	20.5 bp −$205	doesn't fit	doesn't fit
Sell edgeX live order book, 23 min ago	5.16 bp	10.5 bp −$11	doesn't fit	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	−0.1306%	1h	4.7175	−0.171%	$41K	$40K	10x	as long as short
Gate LIT_USDT	−0.0816%	4h	4.7200	−0.119%	$2.8M	$4.6M	50x	as long as short
Orderly PERP_LIT_USDC	−0.0627%	4h	4.7112	−0.305%	$32K	$2K	10x	as long as short
Phemex LITUSDT	−0.0616%	4h	4.7150	−0.224%	$1.3M	$2.8M	20x	as long as short
01 Exchange LITUSD	−0.0608%	1h	4.7108	−0.313%	$33K	$4K	5x	as long as short
OKX LIT-USDT-SWAP	−0.0387%	4h	4.7165	−0.193%	$25.1M	$62.1M	50x	as long as short
Bullet LIT-USD	−0.0368%	1h	4.7165	−0.193%	$85K	$81K	20x	as long as short
Bybit LITUSDT	−0.0331%	4h	4.7190	−0.140%	$42.7M	$30.8M	75x	as long as short
Backpack LIT_USDC_PERP	−0.0314%	1h	4.7212	−0.093%	$663K	$1.5M	5x	as long as short
KuCoin LITUSDTM	−0.0308%	4h	4.7221	−0.074%	$5.2M	$1.1M	30x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT LIT_USDT_Perp	−0.0258%	4h	4.7093	−0.344%	$894K	$1.9M	10x	as long as short
Aftermath Perps LITUSD	−0.0202%	1h	4.7240	−0.033%	$10K	$202K	10x	as long as short
Coinbase International LIT-PERP-INTX	−0.0152%	1h	4.7721	+0.984%	$660K	$404K	50x	as long as short
Phoenix LIT	−0.0050%	1h	4.7258	+0.004%	$245K	$321K	5x	as long as short
SoDEX LIT-USD	−0.0047%	1h	4.7185	−0.150%	$1K	$487K	5x	as long as short
Paradex LIT-USD-PERP	−0.0028%	8h	4.7160	−0.204%	$6K	$2K	5x	as long as short
Nado LIT-PERP	−0.0009%	1h	4.7198	−0.122%	$2.1M	$1.7M	10x	as long as short
dYdX LIT-USD	0.0000%	1h	4.7218	−0.081%	$34K	—	5x	as long as short
gTrade (Gains Network) LIT/USD	L +0.0003% / S −0.0003%	1h	4.7225	−0.066%	$35K	—	150x	as long as short
RISEx LIT/USDC	+0.0009%	1h	4.7214	−0.089%	$777K	$2.1M	5x	as long as short
Polymarket Perps LIT-USD	+0.0018%	1h	4.7188	−0.144%	$446K	$105K	10x	as long as short
MEXC LIT_USDT	+0.0030%	4h	4.7146	−0.233%	$5.7M	$4.3M	100x	as long as short
edgeX LITUSDCshort	+0.0030%	4h	4.7178	−0.164%	$287K	$311K	10x
Binance LITUSDT	+0.0032%	4h	4.7145	−0.235%	$74.7M	$81.7M	75x	as long as short
Injective LIT/USDC PERP	+0.0033%	1h	4.8040	+1.659%	$422	$178K	5.5x	as long as short
Aevo LIT-PERP	+0.0048%	1h	4.7198	−0.123%	$148K	$44K	3x	as long as short
Lighter LITlong	+0.0096%	1h	4.7256	long leg	$59.3M	$30.4M	5x
Hyperliquid LIT	+0.0100%	1h	4.7252	−0.008%	$210.6M	$45.5M	5x	as long as short
Aster LITUSDT	+0.0100%	4h	4.7252	−0.008%	$12.6M	$2.5M	50x	as long as short
Pacifica LIT	+0.0100%	1h	4.7204	−0.110%	$582K	$1.8M	10x	as long as short
Arcus LIT-USD	+0.0100%	1h	4.7185	−0.150%	$116K	$449K	5x	as long as short
Bulk LIT-USD	+0.0100%	1h	4.7185	−0.150%	$118K	$5K	10x	as long as short
Bitget LITUSDT	+0.0100%	4h	4.7190	−0.140%	$6.7M	$2.7M	20x	as long as short
ApeX Omni LITUSDT	+0.0100%	1h	4.7130	−0.267%	$55K	$78K	50x	as long as short
Derive LIT-PERP	+0.0100%	1h	4.7228	−0.060%	$2K	$1K	6.7x	as long as short
SunX LIT-USDT	+0.0100%	4h	4.7197	−0.125%	$4K	$1.2M	20x	as long as short
HTX LIT-USDT	+0.0100%	4h	4.7270	+0.030%	$189K	$330K	30x	as long as short
Extended LIT-USD	+0.0104%	1h	4.7159	−0.206%	$5.2M	$5.2M	25x	as long as short
Perpl LIT	+0.0112%	43m	4.7232	−0.050%	$31K	$843K	33x	as long as short
BloFin LIT-USDT	+0.0124%	4h	4.7185	−0.150%	$1.5M	$2.1M	75x	as long as short
GMX LIT/USD [ETH-USDC]	L +0.0357% / S −0.0155%	1h	4.7224	−0.067%	$59K	—	50x	as long as short
Lighter RH LIT	+0.0408%	1h	4.7277	+0.044%	$3.7M	$14.4M	5x	as long as short