Funding arb · Price arb /

LIT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0358%/8h= +39.2% APRpaid last 24h +0.133%

Price spread now: Phoenix against Orderly+0.326%7-day average — · you sell dearer than you buy

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

Long on Orderly Short on Phoenix

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—needs both histories

Both sides work for this trade now. Funding pays +$11 a day on $10k at the current rate, and Phoenix is 0.326% dearer against Orderly than usual: you sell high and buy low: +$33 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_LIT_USDC	4.7280	−0.0460	get 0.0230% / 4h	2h 20m	$32K	$2K	10x
Short	Phoenix LIT	4.7434	−0.0102	pay 0.0013% / 1h	20m 32s	$205K	$352K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Orderly. 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 OrderlybpFee PhoenixbpOrdersPrice spread, now +0.326%Rate

Funding earned: $75.23
Price spread: +0.326% → 0.000%: $32.57
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $94.8
Costs to cover: 0.130%
Break-even: from the start

Slippage unknown: Orderly: no order-book sample; Phoenix: live order book, 46 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 Orderly no order-book sample	—	—	—	—	—
Sell Phoenix live order book, 46 min ago	2.10 bp	16.0 bp −$16	50.2 bp −$502	doesn't fit	doesn't fit

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 41 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	−0.0698%	1h	4.7328	+0.101%	$42K	$40K	10x	as long as short
01 Exchange LITUSD	−0.0624%	1h	4.7262	−0.038%	$33K	$4K	5x	as long as short
Orderly PERP_LIT_USDClong	−0.0460%	4h	4.7280	long leg	$32K	$2K	10x
Bullet LIT-USD	−0.0446%	1h	4.7319	+0.083%	$85K	$73K	20x	as long as short
ApeX Omni LITUSDT	−0.0192%	1h	4.7370	+0.190%	$57K	$77K	50x	as long as short
GRVT LIT_USDT_Perp	−0.0172%	4h	4.7370	+0.190%	$900K	$1.8M	10x	as long as short
Phemex LITUSDT	−0.0165%	4h	4.7320	+0.085%	$1.4M	$2.7M	20x	as long as short
KuCoin LITUSDTM	−0.0138%	4h	4.7314	+0.072%	$5.3M	$1.1M	30x	as long as short
OKX LIT-USDT-SWAP	−0.0136%	4h	4.7331	+0.108%	$25.7M	$63.6M	50x	as long as short
Phoenix LITshort	−0.0102%	1h	4.7434	+0.326%	$205K	$352K	5x

Show all 41 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International LIT-PERP-INTX	−0.0080%	1h	4.7477	+0.417%	$672K	$373K	50x	as long as short
Gate LIT_USDT	−0.0062%	4h	4.7320	+0.085%	$2.8M	$4.3M	50x	as long as short
Bulk LIT-USD	−0.0039%	1h	4.7299	+0.040%	$118K	$1K	10x	as long as short
dYdX LIT-USD	0.0000%	1h	4.7321	+0.086%	$34K	—	5x	as long as short
Bybit LITUSDT	+0.0003%	4h	4.7310	+0.063%	$42.2M	$29.3M	75x	as long as short
gTrade (Gains Network) LIT/USD	L +0.0003% / S 0.0000%	1h	4.7381	+0.213%	$474	—	150x	as long as short
Paradex LIT-USD-PERP	+0.0030%	8h	4.7265	−0.032%	$7K	$2K	5x	as long as short
Injective LIT/USDC PERP	+0.0033%	1h	4.8040	+1.607%	$422	$178K	5.5x	as long as short
SoDEX LIT-USD	+0.0077%	1h	4.7337	+0.121%	$1K	$443K	5x	as long as short
RISEx LIT/USDC	+0.0081%	1h	4.7342	+0.130%	$791K	$2.0M	5x	as long as short
Lighter LIT	+0.0096%	1h	4.7363	+0.176%	$59.3M	$29.6M	5x	as long as short
Nado LIT-PERP	+0.0100%	1h	4.7315	+0.074%	$2.2M	$1.7M	10x	as long as short
Hyperliquid LIT	+0.0100%	1h	4.7395	+0.243%	$212.1M	$42.7M	5x	as long as short
Pacifica LIT	+0.0100%	1h	4.7324	+0.093%	$587K	$1.6M	10x	as long as short
Binance LITUSDT	+0.0100%	4h	4.7302	+0.047%	$75.4M	$80.2M	75x	as long as short
Arcus LIT-USD	+0.0100%	1h	4.7313	+0.070%	$117K	$448K	5x	as long as short
MEXC LIT_USDT	+0.0100%	4h	4.7305	+0.053%	$5.5M	$4.1M	100x	as long as short
Bitget LITUSDT	+0.0100%	4h	4.7370	+0.190%	$6.8M	$2.7M	20x	as long as short
Backpack LIT_USDC_PERP	+0.0100%	1h	4.7361	+0.171%	$686K	$1.4M	5x	as long as short
edgeX LITUSDC	+0.0100%	4h	4.7360	+0.170%	$288K	$305K	10x	as long as short
Polymarket Perps LIT-USD	+0.0100%	1h	4.7337	+0.121%	$447K	$104K	10x	as long as short
Derive LIT-PERP	+0.0100%	1h	4.7357	+0.163%	$2K	—	6.7x	as long as short
SunX LIT-USDT	+0.0100%	4h	4.7379	+0.209%	$4K	$1.2M	20x	as long as short
HTX LIT-USDT	+0.0100%	4h	4.7440	+0.338%	$190K	$352K	30x	as long as short
Extended LIT-USD	+0.0104%	1h	4.7270	−0.021%	$5.2M	$5.1M	25x	as long as short
Aevo LIT-PERP	+0.0104%	1h	4.7356	+0.162%	$148K	—	3x	as long as short
Aster LITUSDT	+0.0109%	4h	4.7364	+0.178%	$12.7M	$2.1M	50x	as long as short
Lighter RH LIT	+0.0112%	1h	4.7383	+0.218%	$3.7M	$13.3M	5x	as long as short
Aftermath Perps LITUSD	+0.0248%	1h	4.7360	+0.169%	$10K	$211K	10x	as long as short
GMX LIT/USD [ETH-USDC]	L +0.0405% / S −0.0198%	1h	4.7369	+0.188%	$63K	—	50x	as long as short
Perpl LIT	+0.0447%	43m	4.7342	+0.131%	$31K	$856K	33x	as long as short