Funding arb · Price arb /

LIT

all LIT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.056%

Price spread now: Backpack against Phemex+0.086%7-day average +0.081% · you sell dearer than you buy

Net, funding: paid 7d − costs−$66as in the Funding arb table

Net, price: spread back to 7d avg − costs−$89as in the Price arb table

costs, in and out, $10k−$900.897% of the position

Long on Phemex Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.236%+$24 on $10k

Price spread, last 3 days (all we have)−0.007%−$1 · spread now +0.086%, 7d avg +0.081%

Together, before fees+0.229%+$23 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex LITUSDT	4.7770	0.0100	pay 0.0050% / 4h	3h 09m	$1.4M	$2.7M	20x
Short	Backpack LIT_USDC_PERP	4.7811	0.0100	get 0.0013% / 1h	9m 23s	$692K	$1.4M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Phemex. 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 PhemexbpFee BackpackbpOrdersPrice spread, now +0.086%Rate

Funding earned: $0
Price spread: +0.086% → +0.081%: $0.45
Slippage, 4 orders: −$67.68
Fee Phemex: 6 bp × 2 orders: −$12
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$89.23
Costs to cover: 0.897%
Break-even: never at this rate

Slippage from Phemex: live order book, 4 min ago; Backpack: live order book, 5 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 Phemex live order book, 4 min ago	8.39 bp	42.3 bp −$42	doesn't fit	doesn't fit	doesn't fit
Sell Backpack live order book, 5 min ago	1.05 bp	7.4 bp −$7	17.3 bp −$173	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	−0.0680%	1h	4.7801	+0.064%	$42K	$40K	10x	as long as short
Orderly PERP_LIT_USDC	−0.0479%	4h	4.7649	−0.253%	$33K	$2K	10x	as long as short
01 Exchange LITUSD	−0.0432%	1h	4.7648	−0.255%	$33K	$4K	5x	as long as short
Bullet LIT-USD	−0.0372%	1h	4.7693	−0.161%	$85K	$72K	20x	as long as short
OKX LIT-USDT-SWAP	−0.0198%	4h	4.7715	−0.115%	$25.9M	$63.7M	50x	as long as short
ApeX Omni LITUSDT	−0.0186%	1h	4.7690	−0.167%	$57K	$77K	50x	as long as short
KuCoin LITUSDTM	−0.0140%	4h	4.7700	−0.147%	$5.3M	$1.1M	30x	as long as short
Coinbase International LIT-PERP-INTX	−0.0088%	1h	4.7783	+0.026%	$676K	$392K	50x	as long as short
GRVT LIT_USDT_Perp	−0.0072%	4h	4.7657	−0.237%	$912K	$1.8M	10x	as long as short
Phoenix LIT	−0.0034%	1h	4.7775	+0.010%	$208K	$361K	5x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Perpl LIT	0.0000%	43m	4.7756	−0.030%	$32K	$849K	33x	as long as short
dYdX LIT-USD	+0.0002%	1h	4.7812	+0.088%	$34K	—	5x	as long as short
gTrade (Gains Network) LIT/USD	L +0.0003% / S −0.0002%	1h	4.7753	−0.035%	$11K	—	150x	as long as short
Injective LIT/USDC PERP	+0.0033%	1h	4.8040	+0.565%	$422	$178K	5.5x	as long as short
Paradex LIT-USD-PERP	+0.0045%	8h	4.7695	−0.158%	$7K	$2K	5x	as long as short
Polymarket Perps LIT-USD	+0.0078%	1h	4.7713	−0.119%	$451K	$104K	10x	as long as short
Nado LIT-PERP	+0.0080%	1h	4.7715	−0.115%	$2.2M	$1.7M	10x	as long as short
Lighter LIT	+0.0096%	1h	4.7790	+0.042%	$59.8M	$30.0M	5x	as long as short
Aster LITUSDT	+0.0100%	4h	4.7771	+0.002%	$12.8M	$2.1M	50x	as long as short
Pacifica LIT	+0.0100%	1h	4.7750	−0.042%	$592K	$1.6M	10x	as long as short
Binance LITUSDT	+0.0100%	4h	4.7684	−0.180%	$76.2M	$80.0M	75x	as long as short
Bybit LITUSDT	+0.0100%	4h	4.7690	−0.167%	$42.9M	$29.6M	75x	as long as short
Arcus LIT-USD	+0.0100%	1h	4.7719	−0.107%	$118K	$448K	5x	as long as short
Bulk LIT-USD	+0.0100%	1h	4.7476	−0.615%	$119K	$1K	10x	as long as short
Gate LIT_USDT	+0.0100%	4h	4.7700	−0.147%	$2.8M	$4.5M	50x	as long as short
MEXC LIT_USDT	+0.0100%	4h	4.7690	−0.167%	$5.6M	$4.2M	100x	as long as short
Bitget LITUSDT	+0.0100%	4h	4.7750	−0.042%	$6.8M	$2.7M	20x	as long as short
Backpack LIT_USDC_PERPshort	+0.0100%	1h	4.7811	+0.086%	$692K	$1.4M	5x
edgeX LITUSDC	+0.0100%	4h	4.7637	−0.278%	$290K	$308K	10x	as long as short
Derive LIT-PERP	+0.0100%	1h	4.7834	+0.133%	$2K	—	6.7x	as long as short
SunX LIT-USDT	+0.0100%	4h	4.7760	−0.021%	$4K	$1.2M	20x	as long as short
SoDEX LIT-USD	+0.0100%	1h	4.7779	+0.019%	$1K	$453K	5x	as long as short
HTX LIT-USDT	+0.0100%	4h	4.7699	−0.149%	$190K	$346K	30x	as long as short
Phemex LITUSDTlong	+0.0100%	4h	4.7770	long leg	$1.4M	$2.7M	20x
Extended LIT-USD	+0.0104%	1h	4.7689	−0.169%	$5.2M	$5.1M	25x	as long as short
Aevo LIT-PERP	+0.0104%	1h	4.7758	−0.025%	$149K	—	3x	as long as short
RISEx LIT/USDC	+0.0119%	1h	4.7751	−0.041%	$798K	$2.0M	5x	as long as short
Lighter RH LIT	+0.0160%	1h	4.7826	+0.117%	$3.7M	$13.7M	5x	as long as short
Hyperliquid LIT	+0.0328%	1h	4.7793	+0.048%	$214.6M	$43.8M	5x	as long as short
BloFin LIT-USDT	+0.0340%	4h	4.7658	−0.234%	$1.6M	$2.0M	75x	as long as short
Aftermath Perps LITUSD	+0.0352%	1h	4.7709	−0.128%	$9K	$204K	10x	as long as short
GMX LIT/USD [ETH-USDC]	L +0.0400% / S −0.0189%	1h	4.7806	+0.076%	$64K	—	50x	as long as short