LIT

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0115%/8h= −12.5% APRnext payment −$0.14 per $10,000 · paid last 24h +0.005%

Price spread now: Backpack against Phoenix−0.071%7-day average −0.091% · you buy dearer than you sell

Net, funding: paid 7d − costs−$43as in the Funding arb table

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$460.455% of the position

Long on Phoenix Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.029%+$3 on $10k

Price spread, last 4 days (all we have)−0.526%−$53 · spread now −0.071%, 7d avg −0.091%

Together, before fees−0.496%−$50 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Backpack is 0.020% dearer against Phoenix than usual: you sell high and buy low (spread −0.071% now, against its 7-day average of −0.091%): +$2 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 14 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix LIT	4.7781	0.0033	pay 0.0004% / 1h	36m 57s	$205K	$301K	5x
Short	Backpack LIT_USDC_PERP	4.7747	−0.0081	pay 0.0010% / 1h	36m 57s	$673K	$1.1M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Phoenix. 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 PhoenixbpFee BackpackbpOrdersPrice spread, now −0.071%Rate

Funding earned: −$24.06
Price spread: −0.071% → −0.091%: $2.02
Slippage, 4 orders: −$28.54
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$67.58
Costs to cover: 0.455%
Break-even: never at this rate

Slippage from Phoenix: live order book, 4 min ago; Backpack: live order book, 2 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 Phoenix live order book, 4 min ago	2.10 bp	16.1 bp −$16	57.9 bp −$579	doesn't fit	doesn't fit
Sell Backpack live order book, 2 min ago	0.52 bp	6.5 bp −$6	18.5 bp −$185	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	−0.0510%	1h	4.7736	−0.094%	$42K	$40K	10x	as long as short
Coinbase International LIT-PERP-INTX	−0.0440%	1h	4.7761	−0.041%	$605K	$352K	50x	as long as short
Orderly PERP_LIT_USDC	−0.0384%	4h	4.7698	−0.174%	$33K	$1K	10x	as long as short
01 Exchange LITUSD	−0.0280%	1h	4.7755	−0.054%	$31K	$3K	5x	as long as short
Bullet LIT-USD	−0.0247%	1h	4.7740	−0.086%	$86K	$66K	20x	as long as short
OKX LIT-USDT-SWAP	−0.0172%	4h	4.7682	−0.207%	$25.6M	$61.0M	50x	as long as short
GRVT LIT_USDT_Perp	−0.0086%	4h	4.7647	−0.280%	$880K	$2.0M	10x	as long as short
Backpack LIT_USDC_PERPshort	−0.0081%	1h	4.7747	−0.071%	$673K	$1.1M	5x
ApeX Omni LITUSDT	−0.0035%	1h	4.7650	−0.274%	$57K	$73K	50x	as long as short
dYdX LIT-USD	0.0000%	1h	4.7712	−0.145%	$34K	—	5x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) LIT/USD	L +0.0003% / S −0.0002%	1h	4.7744	−0.076%	$11K	—	150x	as long as short
Phoenix LITlong	+0.0033%	1h	4.7781	long leg	$205K	$301K	5x
Injective LIT/USDC PERP	+0.0033%	1h	4.8040	+0.542%	$422	$178K	5.5x	as long as short
Bybit LITUSDT	+0.0075%	4h	4.7701	−0.167%	$41.3M	$28.5M	75x	as long as short
KuCoin LITUSDTM	+0.0080%	4h	4.7757	−0.050%	$5.4M	$988K	30x	as long as short
Phemex LITUSDT	+0.0084%	4h	4.7720	−0.128%	$1.3M	$2.8M	20x	as long as short
Paradex LIT-USD-PERP	+0.0091%	8h	4.7776	−0.010%	$7K	$2K	5x	as long as short
Lighter LIT	+0.0096%	1h	4.7784	+0.006%	$59.4M	$27.3M	5x	as long as short
Nado LIT-PERP	+0.0100%	1h	4.7769	−0.025%	$2.1M	$1.6M	10x	as long as short
Pacifica LIT	+0.0100%	1h	4.7815	+0.070%	$767K	$1.8M	10x	as long as short
Binance LITUSDT	+0.0100%	4h	4.7654	−0.266%	$76.3M	$76.6M	75x	as long as short
Arcus LIT-USD	+0.0100%	1h	4.7786	+0.010%	$124K	$452K	5x	as long as short
Bulk LIT-USD	+0.0100%	1h	4.7600	−0.379%	$119K	$7K	10x	as long as short
Gate LIT_USDT	+0.0100%	4h	4.7760	−0.044%	$2.8M	$4.1M	50x	as long as short
MEXC LIT_USDT	+0.0100%	4h	4.7660	−0.253%	$5.8M	$3.9M	100x	as long as short
Bitget LITUSDT	+0.0100%	4h	4.7760	−0.044%	$6.8M	$2.5M	20x	as long as short
edgeX LITUSDC	+0.0100%	4h	4.7705	−0.158%	$292K	$303K	10x	as long as short
Polymarket Perps LIT-USD	+0.0100%	1h	4.7776	−0.010%	$449K	$83K	10x	as long as short
Derive LIT-PERP	+0.0100%	1h	4.7808	+0.057%	$2K	—	6.7x	as long as short
SunX LIT-USDT	+0.0100%	4h	4.7747	−0.071%	$4K	$1.1M	20x	as long as short
SoDEX LIT-USD	+0.0100%	1h	4.7749	−0.067%	$1K	$331K	5x	as long as short
HTX LIT-USDT	+0.0100%	4h	4.7831	+0.105%	$199K	$321K	30x	as long as short
Extended LIT-USD	+0.0104%	1h	4.7649	−0.277%	$5.1M	$5.2M	25x	as long as short
Aevo LIT-PERP	+0.0104%	1h	4.7731	−0.105%	$149K	—	3x	as long as short
Perpl LIT	+0.0112%	43m	4.7800	+0.040%	$32K	$677K	33x	as long as short
RISEx LIT/USDC	+0.0148%	1h	4.7791	+0.021%	$801K	$2.2M	5x	as long as short
Aftermath Perps LITUSD	+0.0193%	1h	4.7744	−0.077%	$9K	$209K	10x	as long as short
Aster LITUSDT	+0.0220%	4h	4.7766	−0.031%	$12.8M	$2.0M	50x	as long as short
Hyperliquid LIT	+0.0298%	1h	4.7808	+0.057%	$215.6M	$39.6M	5x	as long as short
BloFin LIT-USDT	+0.0340%	4h	4.7696	−0.178%	$1.6M	$2.3M	75x	as long as short
Lighter RH LIT	+0.0360%	1h	4.7801	+0.042%	$3.7M	$13.1M	5x	as long as short
GMX LIT/USD [ETH-USDC]	L +0.0425% / S −0.0217%	1h	4.7772	−0.020%	$64K	—	50x	as long as short