Funding arb · Price arb /

LIT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:12 UTC+0.0096%/8h= +10.5% APRpaid last 24h −0.034%

Price spread now: Lighter against Perpl−0.090%7-day average +0.085% · you buy dearer than you sell

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

Long on Perpl Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.256%+$26 on $10k

Price spread, last 7 days+0.152%+$15 · spread now −0.090%, 7d avg +0.085%

Together, before fees+0.408%+ Points / potential airdropPerpl: Active · Lighter: Season 3 · farm board+$41 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.175% cheaper against Perpl than usual: you would sell low and buy high (spread −0.090% now, against its 7-day average of +0.085%). If the spread goes back, that is −$17 on $10k: about 6.1 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Perpl LIT	4.7837	0	get 0.0000% / 43m	14m 04s	$32K	$858K	33x
Short	Lighter LIT	4.7794	0.0096	get 0.0012% / 1h	35m 04s	$59.8M	$29.7M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Perpl. 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 PerplbpFee LighterbpOrdersPrice spread, now −0.090%Rate

Funding earned: $20.16
Price spread: −0.090% → +0.085%: −$17.46
Slippage, 4 orders: no order book: not counted
Fee Perpl: 6.9 bp × 2 orders: −$13.8
Fee Lighter: 0 bp × 2 orders: $0
Net: −$11.1
Costs to cover: 0.138%
Break-even: 10.9 days

Slippage unknown: Perpl: no order-book sample; Lighter: live order book, 4 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 Perpl no order-book sample	—	—	—	—	—
Sell Lighter live order book, 4 min ago	1.04 bp	5.3 bp −$5	20.6 bp −$206	doesn't fit	doesn't fit

Perpl: 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	−0.0899%	1h	4.7737	−0.208%	$42K	$40K	10x	as long as short
Orderly PERP_LIT_USDC	−0.0512%	4h	4.7703	−0.280%	$33K	$2K	10x	as long as short
01 Exchange LITUSD	−0.0416%	1h	4.7744	−0.194%	$33K	$4K	5x	as long as short
Bullet LIT-USD	−0.0352%	1h	4.7767	−0.146%	$85K	$75K	20x	as long as short
OKX LIT-USDT-SWAP	−0.0227%	4h	4.7676	−0.336%	$25.9M	$64.4M	50x	as long as short
KuCoin LITUSDTM	−0.0132%	4h	4.7793	−0.092%	$5.3M	$1.1M	30x	as long as short
Coinbase International LIT-PERP-INTX	−0.0088%	1h	4.7831	−0.012%	$676K	$406K	50x	as long as short
Phoenix LIT	−0.0034%	1h	4.7765	−0.150%	$208K	$361K	5x	as long as short
ApeX Omni LITUSDT	−0.0032%	1h	4.7760	−0.161%	$56K	$77K	50x	as long as short
Phemex LITUSDT	−0.0030%	4h	4.7740	−0.203%	$1.4M	$2.7M	20x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Perpl LITlong	0.0000%	43m	4.7837	long leg	$32K	$858K	33x
gTrade (Gains Network) LIT/USD	L +0.0003% / S −0.0003%	1h	4.7816	−0.044%	$35K	—	150x	as long as short
dYdX LIT-USD	+0.0005%	1h	4.7822	−0.030%	$34K	—	5x	as long as short
Nado LIT-PERP	+0.0015%	1h	4.7780	−0.119%	$2.2M	$1.7M	10x	as long as short
Injective LIT/USDC PERP	+0.0033%	1h	4.8040	+0.425%	$422	$178K	5.5x	as long as short
Paradex LIT-USD-PERP	+0.0043%	8h	4.7756	−0.169%	$7K	$2K	5x	as long as short
GRVT LIT_USDT_Perp	+0.0048%	4h	4.7763	−0.154%	$918K	$1.8M	10x	as long as short
Lighter LITshort	+0.0096%	1h	4.7794	−0.090%	$59.8M	$29.7M	5x
Aster LITUSDT	+0.0100%	4h	4.7811	−0.055%	$12.8M	$2.3M	50x	as long as short
Pacifica LIT	+0.0100%	1h	4.7819	−0.037%	$594K	$1.7M	10x	as long as short
Binance LITUSDT	+0.0100%	4h	4.7686	−0.315%	$76.1M	$81.2M	75x	as long as short
Bybit LITUSDT	+0.0100%	4h	4.7709	−0.267%	$43.0M	$29.9M	75x	as long as short
Arcus LIT-USD	+0.0100%	1h	4.7815	−0.046%	$118K	$450K	5x	as long as short
Bulk LIT-USD	+0.0100%	1h	4.7740	−0.203%	$119K	$1K	10x	as long as short
Gate LIT_USDT	+0.0100%	4h	4.7760	−0.161%	$2.8M	$4.5M	50x	as long as short
MEXC LIT_USDT	+0.0100%	4h	4.7710	−0.265%	$5.7M	$4.2M	100x	as long as short
Bitget LITUSDT	+0.0100%	4h	4.7740	−0.203%	$6.8M	$2.7M	20x	as long as short
Backpack LIT_USDC_PERP	+0.0100%	1h	4.7751	−0.180%	$688K	$1.4M	5x	as long as short
edgeX LITUSDC	+0.0100%	4h	4.7664	−0.361%	$290K	$308K	10x	as long as short
Polymarket Perps LIT-USD	+0.0100%	1h	4.7794	−0.090%	$452K	$104K	10x	as long as short
Derive LIT-PERP	+0.0100%	1h	4.7787	−0.104%	$2K	—	6.7x	as long as short
SunX LIT-USDT	+0.0100%	4h	4.7735	−0.213%	$4K	$1.2M	20x	as long as short
SoDEX LIT-USD	+0.0100%	1h	4.7745	−0.192%	$1K	$462K	5x	as long as short
HTX LIT-USDT	+0.0100%	4h	4.7841	+0.009%	$191K	$346K	30x	as long as short
Extended LIT-USD	+0.0104%	1h	4.7655	−0.380%	$5.2M	$5.1M	25x	as long as short
Aevo LIT-PERP	+0.0104%	1h	4.7752	−0.177%	$149K	—	3x	as long as short
RISEx LIT/USDC	+0.0119%	1h	4.7827	−0.021%	$801K	$2.0M	5x	as long as short
Lighter RH LIT	+0.0176%	1h	4.7833	−0.008%	$3.7M	$13.7M	5x	as long as short
Hyperliquid LIT	+0.0272%	1h	4.7825	−0.025%	$214.5M	$44.2M	5x	as long as short
BloFin LIT-USDT	+0.0340%	4h	4.7713	−0.259%	$1.6M	$2.1M	75x	as long as short
Aftermath Perps LITUSD	+0.0360%	1h	4.7713	−0.259%	$10K	$205K	10x	as long as short
GMX LIT/USD [ETH-USDC]	L +0.0396% / S −0.0183%	1h	4.7807	−0.063%	$64K	—	50x	as long as short