Funding arb · Price arb /

LIT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0562%/8h= −61.5% APRpaid last 24h −0.164%

Price spread now: Orderly against Lighter−0.185%7-day average — · you buy dearer than you sell

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

Long on Lighter 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 airdropLighter: Season 3 · farm boardneeds both histories

Both sides work against this trade now: funding costs −$17 a day on $10k at the current rate, and Orderly is 0.185% cheaper against Lighter 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	Lighter LIT	4.7112	0.0096	pay 0.0012% / 1h	45m 45s	$59.0M	$29.2M	5x
Short	Orderly PERP_LIT_USDC	4.7025	−0.0466	pay 0.0233% / 4h	2h 45m	$32K	$2K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.185%Rate

Funding earned: −$117.98
Price spread: −0.185% → 0.000%: −$18.47
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$142.45
Costs to cover: 0.060%
Break-even: never at this rate

Slippage unknown: Lighter: live order book, 8 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 Lighter live order book, 8 min ago	0.75 bp	3.8 bp −$4	14.9 bp −$149	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
Deribit LIT_USDC-PERPETUAL	−0.0582%	1h	4.7086	−0.055%	$41K	$40K	10x	as long as short
01 Exchange LITUSD	−0.0568%	1h	4.7023	−0.189%	$33K	$4K	5x	as long as short
Orderly PERP_LIT_USDCshort	−0.0466%	4h	4.7025	−0.185%	$32K	$2K	10x
Bullet LIT-USD	−0.0403%	1h	4.7050	−0.132%	$84K	$72K	20x	as long as short
Backpack LIT_USDC_PERP	−0.0184%	1h	4.7104	−0.017%	$683K	$1.4M	5x	as long as short
OKX LIT-USDT-SWAP	−0.0173%	4h	4.7060	−0.110%	$25.6M	$63.9M	50x	as long as short
Gate LIT_USDT	−0.0158%	4h	4.7060	−0.110%	$2.8M	$4.2M	50x	as long as short
KuCoin LITUSDTM	−0.0134%	4h	4.7044	−0.144%	$5.2M	$1.1M	30x	as long as short
GRVT LIT_USDT_Perp	−0.0122%	4h	4.7120	+0.017%	$895K	$1.8M	10x	as long as short
Phoenix LIT	−0.0102%	1h	4.7162	+0.106%	$203K	$352K	5x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International LIT-PERP-INTX	−0.0080%	1h	4.7209	+0.205%	$668K	$387K	50x	as long as short
dYdX LIT-USD	0.0000%	1h	4.7122	+0.022%	$34K	—	5x	as long as short
gTrade (Gains Network) LIT/USD	L +0.0003% / S 0.0000%	1h	4.7098	−0.029%	$471	—	150x	as long as short
Bulk LIT-USD	+0.0028%	1h	4.6991	−0.257%	$117K	$1K	10x	as long as short
Injective LIT/USDC PERP	+0.0033%	1h	4.8040	+1.970%	$422	$178K	5.5x	as long as short
Paradex LIT-USD-PERP	+0.0044%	8h	4.7057	−0.117%	$7K	$2K	5x	as long as short
RISEx LIT/USDC	+0.0081%	1h	4.7104	−0.017%	$785K	$2.0M	5x	as long as short
Lighter LITlong	+0.0096%	1h	4.7112	long leg	$59.0M	$29.2M	5x
Nado LIT-PERP	+0.0100%	1h	4.7042	−0.148%	$2.2M	$1.7M	10x	as long as short
Hyperliquid LIT	+0.0100%	1h	4.7141	+0.061%	$211.3M	$44.3M	5x	as long as short
Aster LITUSDT	+0.0100%	4h	4.7134	+0.046%	$12.6M	$2.1M	50x	as long as short
Pacifica LIT	+0.0100%	1h	4.7094	−0.038%	$584K	$1.7M	10x	as long as short
Binance LITUSDT	+0.0100%	4h	4.7025	−0.185%	$75.1M	$80.5M	75x	as long as short
Bybit LITUSDT	+0.0100%	4h	4.7048	−0.136%	$42.3M	$29.8M	75x	as long as short
Arcus LIT-USD	+0.0100%	1h	4.7077	−0.074%	$116K	$448K	5x	as long as short
MEXC LIT_USDT	+0.0100%	4h	4.7020	−0.195%	$5.5M	$4.1M	100x	as long as short
Bitget LITUSDT	+0.0100%	4h	4.7080	−0.068%	$6.7M	$2.7M	20x	as long as short
edgeX LITUSDC	+0.0100%	4h	4.7154	+0.089%	$287K	$306K	10x	as long as short
ApeX Omni LITUSDT	+0.0100%	1h	4.7150	+0.081%	$56K	$77K	50x	as long as short
Polymarket Perps LIT-USD	+0.0100%	1h	4.7060	−0.110%	$445K	$104K	10x	as long as short
Derive LIT-PERP	+0.0100%	1h	4.7113	+0.003%	$2K	—	6.7x	as long as short
SunX LIT-USDT	+0.0100%	4h	4.7088	−0.051%	$4K	$1.2M	20x	as long as short
SoDEX LIT-USD	+0.0100%	1h	4.7070	−0.089%	$1K	$457K	5x	as long as short
HTX LIT-USDT	+0.0100%	4h	4.7032	−0.170%	$188K	$354K	30x	as long as short
Phemex LITUSDT	+0.0100%	4h	4.7060	−0.110%	$1.4M	$2.7M	20x	as long as short
Extended LIT-USD	+0.0104%	1h	4.7011	−0.215%	$5.2M	$5.1M	25x	as long as short
Aevo LIT-PERP	+0.0104%	1h	4.7040	−0.154%	$147K	—	3x	as long as short
Lighter RH LIT	+0.0120%	1h	4.7165	+0.112%	$3.7M	$13.2M	5x	as long as short
Aftermath Perps LITUSD	+0.0339%	1h	4.7110	−0.004%	$9K	$209K	10x	as long as short
BloFin LIT-USDT	+0.0340%	4h	4.7139	+0.057%	$1.6M	$2.0M	75x	as long as short
GMX LIT/USD [ETH-USDC]	L +0.0403% / S −0.0195%	1h	4.7099	−0.029%	$63K	—	50x	as long as short
Perpl LIT	+0.0447%	43m	4.7081	−0.065%	$31K	$861K	33x	as long as short