LIT

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0113%/8h= −12.4% APRnext payment −$0.14 per $10,000 · paid last 24h −0.034%

Price spread now: Phoenix against Lighter+0.242%7-day average +0.022% · you sell dearer than you buy

Net, funding: paid 7d − costs−$59as in the Funding arb table

Net, price: spread back to 7d avg − costs−$22as in the Price arb table

costs, in and out, $10k−$440.443% of the position

Long on Lighter Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days−0.145%−$15 on $10k

Price spread, last 4 days (all we have)+0.289%+$29 · spread now +0.242%, 7d avg +0.022%

Together, before fees+0.144%+ Points / potential airdropLighter: Season 3 · farm board+$14 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phoenix is 0.220% dearer against Lighter than usual: you sell high and buy low (spread +0.242% now, against its 7-day average of +0.022%): +$22 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 6.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter LIT	4.7448	0.0096	pay 0.0012% / 1h	33m 08s	$59.1M	$27.8M	5x
Short	Phoenix LIT	4.7563	−0.0017	pay 0.0002% / 1h	33m 08s	$205K	$283K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now +0.242%Rate

Funding earned: −$23.7
Price spread: +0.242% → +0.022%: $21.99
Slippage, 4 orders: −$37.3
Fee Lighter: 0 bp × 2 orders: $0
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$46.01
Costs to cover: 0.443%
Break-even: never at this rate

Slippage from Lighter: live order book, 6 min ago; Phoenix: live order book, 13 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, 6 min ago	0.10 bp	6.2 bp −$6	16.9 bp −$169	doesn't fit	doesn't fit
Sell Phoenix live order book, 13 min ago	1.90 bp	16.1 bp −$16	50.3 bp −$503	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
Coinbase International LIT-PERP-INTX	−0.0448%	1h	4.7300	−0.311%	$612K	$347K	50x	as long as short
Deribit LIT_USDC-PERPETUAL	−0.0385%	1h	4.7385	−0.132%	$42K	$40K	10x	as long as short
Orderly PERP_LIT_USDC	−0.0374%	4h	4.7328	−0.253%	$32K	$1K	10x	as long as short
Phemex LITUSDT	−0.0367%	4h	4.7380	−0.143%	$1.4M	$2.8M	20x	as long as short
01 Exchange LITUSD	−0.0264%	1h	4.7358	−0.190%	$31K	$4K	5x	as long as short
GRVT LIT_USDT_Perp	−0.0212%	4h	4.7640	+0.406%	$888K	$1.9M	10x	as long as short
Bullet LIT-USD	−0.0159%	1h	4.7374	−0.156%	$85K	$68K	20x	as long as short
OKX LIT-USDT-SWAP	−0.0142%	4h	4.7424	−0.051%	$25.5M	$60.8M	50x	as long as short
Bybit LITUSDT	−0.0018%	4h	4.7430	−0.038%	$41.2M	$28.6M	75x	as long as short
Phoenix LITshort	−0.0017%	1h	4.7563	+0.242%	$205K	$283K	5x

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
RISEx LIT/USDC	−0.0012%	1h	4.7428	−0.041%	$818K	$2.2M	5x	as long as short
dYdX LIT-USD	0.0000%	1h	4.7412	−0.075%	$34K	—	5x	as long as short
gTrade (Gains Network) LIT/USD	L +0.0003% / S −0.0002%	1h	4.7409	−0.082%	$11K	—	150x	as long as short
KuCoin LITUSDTM	+0.0016%	4h	4.7449	+0.002%	$5.3M	$1.0M	30x	as long as short
Injective LIT/USDC PERP	+0.0033%	1h	4.8040	+1.248%	$422	$178K	5.5x	as long as short
Paradex LIT-USD-PERP	+0.0093%	8h	4.7342	−0.223%	$7K	$2K	5x	as long as short
Lighter LITlong	+0.0096%	1h	4.7448	long leg	$59.1M	$27.8M	5x
Nado LIT-PERP	+0.0100%	1h	4.7395	−0.112%	$2.2M	$1.6M	10x	as long as short
Hyperliquid LIT	+0.0100%	1h	4.7511	+0.133%	$212.8M	$40.7M	5x	as long as short
Pacifica LIT	+0.0100%	1h	4.7415	−0.070%	$574K	$1.6M	10x	as long as short
Binance LITUSDT	+0.0100%	4h	4.7420	−0.059%	$76.2M	$76.8M	75x	as long as short
Arcus LIT-USD	+0.0100%	1h	4.7416	−0.067%	$117K	$462K	5x	as long as short
Gate LIT_USDT	+0.0100%	4h	4.7440	−0.017%	$2.8M	$4.2M	50x	as long as short
MEXC LIT_USDT	+0.0100%	4h	4.7392	−0.118%	$5.8M	$3.8M	100x	as long as short
Bitget LITUSDT	+0.0100%	4h	4.7430	−0.038%	$6.8M	$2.5M	20x	as long as short
Backpack LIT_USDC_PERP	+0.0100%	1h	4.7401	−0.099%	$664K	$1.1M	5x	as long as short
edgeX LITUSDC	+0.0100%	4h	4.7762	+0.661%	$292K	$304K	10x	as long as short
ApeX Omni LITUSDT	+0.0100%	1h	4.7780	+0.700%	$57K	$74K	50x	as long as short
Polymarket Perps LIT-USD	+0.0100%	1h	4.7382	−0.139%	$445K	$84K	10x	as long as short
Derive LIT-PERP	+0.0100%	1h	4.7402	−0.097%	$2K	—	6.7x	as long as short
SunX LIT-USDT	+0.0100%	4h	4.7356	−0.194%	$4K	$1.1M	20x	as long as short
SoDEX LIT-USD	+0.0100%	1h	4.7391	−0.120%	$1K	$331K	5x	as long as short
HTX LIT-USDT	+0.0100%	4h	4.7433	−0.032%	$201K	$345K	30x	as long as short
Bulk LIT-USD	+0.0100%	1h	4.7306	−0.299%	$118K	$7K	10x	as long as short
Extended LIT-USD	+0.0104%	1h	4.7354	−0.199%	$5.2M	$4.9M	25x	as long as short
Aevo LIT-PERP	+0.0104%	1h	4.7371	−0.161%	$148K	—	3x	as long as short
Lighter RH LIT	+0.0184%	1h	4.7465	+0.036%	$3.7M	$13.0M	5x	as long as short
Aster LITUSDT	+0.0215%	4h	4.7445	−0.005%	$12.7M	$1.9M	50x	as long as short
BloFin LIT-USDT	+0.0340%	4h	4.7396	−0.110%	$1.6M	$1.9M	75x	as long as short
Aftermath Perps LITUSD	+0.0437%	1h	4.7541	+0.197%	$8K	$204K	10x	as long as short
GMX LIT/USD [ETH-USDC]	L +0.0439% / S −0.0231%	1h	4.7408	−0.085%	$66K	—	50x	as long as short
Perpl LIT	+0.0447%	43m	4.7409	−0.083%	$31K	$684K	33x	as long as short