Funding arb · Price arb /

LIT

all LIT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0045%/8h= +4.9% APRpaid last 24h −0.013%

Price spread now: KuCoin against Phoenix−0.169%93s7-day average −0.119% · you buy dearer than you sell

Net, funding: paid 7d − costs−$104as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$950.952% of the position

Long on Phoenix Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.086%−$9 on $10k

Price spread, last 4 days (all we have)−0.427%−$43 · spread now −0.169%, 7d avg −0.119%

Together, before fees−0.512%−$51 on $10k · with fees, hour by hour

Funding pays, the price is against you. KuCoin is 0.050% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.169% now, against its 7-day average of −0.119%). If the spread goes back, that is −$5 on $10k: about 3.8 days of funding at the current rate (+$1 a day). Mind the row above: over the last 7 days funding on this pair cost −0.086%, so the current rate has only just turned in your favour. The two prices were read 93 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix LIT	4.7792	0.0033	pay 0.0004% / 1h	45m 51s	$205K	$301K	5x
Short	KuCoin LITUSDTM	4.7711	0.0078	get 0.0039% / 4h	1h 45m	$5.4M	$992K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.169%Rate

Funding earned: $9.4
Price spread: −0.169% → −0.119%: −$5.04
Slippage, 4 orders: −$76.16
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$90.8
Costs to cover: 0.952%
Break-even: 74.6 days

Slippage from Phoenix: live order book, 60 min ago; KuCoin: 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, 60 min ago	1.90 bp	16.1 bp −$16	57.9 bp −$579	doesn't fit	doesn't fit
Sell KuCoin live order book, 2 min ago	5.76 bp	24.6 bp −$25	151.1 bp −$1,511	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	−0.0568%	1h	4.7649	−0.299%	$42K	$40K	10x	as long as short
Coinbase International LIT-PERP-INTX	−0.0440%	1h	4.7761	−0.064%	$605K	$352K	50x	as long as short
Orderly PERP_LIT_USDC	−0.0385%	4h	4.7591	−0.421%	$33K	$1K	10x	as long as short
01 Exchange LITUSD	−0.0232%	1h	4.7632	−0.335%	$31K	$3K	5x	as long as short
Bullet LIT-USD	−0.0216%	1h	4.7653	−0.291%	$85K	$66K	20x	as long as short
OKX LIT-USDT-SWAP	−0.0175%	4h	4.7661	−0.274%	$25.5M	$61.4M	50x	as long as short
Backpack LIT_USDC_PERP	−0.0092%	1h	4.7664	−0.268%	$672K	$1.1M	5x	as long as short
GRVT LIT_USDT_Perp	−0.0072%	4h	4.7650	−0.298%	$882K	$2.0M	10x	as long as short
dYdX LIT-USD	0.0000%	1h	4.7680	−0.233%	$34K	—	5x	as long as short
gTrade (Gains Network) LIT/USD	L +0.0003% / S −0.0002%	1h	4.7695	−0.202%	$11K	—	150x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix LITlong	+0.0033%	1h	4.7792	long leg	$205K	$301K	5x
Injective LIT/USDC PERP	+0.0033%	1h	4.8040	+0.519%	$422	$178K	5.5x	as long as short
ApeX Omni LITUSDT	+0.0063%	1h	4.7740	−0.109%	$57K	$73K	50x	as long as short
KuCoin LITUSDTMshort	+0.0078%	4h	4.7711	−0.169%	$5.4M	$992K	30x
Phemex LITUSDT	+0.0091%	4h	4.7640	−0.318%	$1.3M	$2.8M	20x	as long as short
Paradex LIT-USD-PERP	+0.0093%	8h	4.7654	−0.290%	$7K	$2K	5x	as long as short
Bybit LITUSDT	+0.0093%	4h	4.7640	−0.318%	$41.3M	$28.6M	75x	as long as short
Lighter LIT	+0.0096%	1h	4.7715	−0.161%	$59.3M	$27.3M	5x	as long as short
Nado LIT-PERP	+0.0100%	1h	4.7655	−0.287%	$2.1M	$1.6M	10x	as long as short
Pacifica LIT	+0.0100%	1h	4.7702	−0.189%	$619K	$1.7M	10x	as long as short
Binance LITUSDT	+0.0100%	4h	4.7628	−0.342%	$76.3M	$76.9M	75x	as long as short
Arcus LIT-USD	+0.0100%	1h	4.7678	−0.239%	$124K	$457K	5x	as long as short
Bulk LIT-USD	+0.0100%	1h	4.7710	−0.172%	$119K	$7K	10x	as long as short
Gate LIT_USDT	+0.0100%	4h	4.7700	−0.193%	$2.8M	$4.1M	50x	as long as short
MEXC LIT_USDT	+0.0100%	4h	4.7642	−0.314%	$5.9M	$3.9M	100x	as long as short
Bitget LITUSDT	+0.0100%	4h	4.7670	−0.255%	$6.8M	$2.5M	20x	as long as short
edgeX LITUSDC	+0.0100%	4h	4.7723	−0.144%	$292K	$304K	10x	as long as short
Polymarket Perps LIT-USD	+0.0100%	1h	4.7658	−0.280%	$447K	$83K	10x	as long as short
Derive LIT-PERP	+0.0100%	1h	4.7676	−0.243%	$2K	—	6.7x	as long as short
SunX LIT-USDT	+0.0100%	4h	4.7657	−0.282%	$4K	$1.1M	20x	as long as short
SoDEX LIT-USD	+0.0100%	1h	4.7670	−0.255%	$1K	$331K	5x	as long as short
HTX LIT-USDT	+0.0100%	4h	4.7801	+0.019%	$198K	$323K	30x	as long as short
Extended LIT-USD	+0.0104%	1h	4.7631	−0.337%	$5.1M	$5.2M	25x	as long as short
Aevo LIT-PERP	+0.0104%	1h	4.7647	−0.303%	$149K	—	3x	as long as short
Perpl LIT	+0.0112%	43m	4.7701	−0.190%	$32K	$677K	33x	as long as short
RISEx LIT/USDC	+0.0148%	1h	4.7688	−0.217%	$795K	$2.2M	5x	as long as short
Aftermath Perps LITUSD	+0.0185%	1h	4.7789	−0.006%	$9K	$214K	10x	as long as short
Aster LITUSDT	+0.0221%	4h	4.7733	−0.123%	$12.8M	$2.0M	50x	as long as short
Hyperliquid LIT	+0.0289%	1h	4.7737	−0.115%	$215.3M	$40.4M	5x	as long as short
BloFin LIT-USDT	+0.0340%	4h	4.7647	−0.303%	$1.6M	$2.3M	75x	as long as short
Lighter RH LIT	+0.0368%	1h	4.7735	−0.119%	$3.6M	$13.1M	5x	as long as short
GMX LIT/USD [ETH-USDC]	L +0.0424% / S −0.0217%	1h	4.7680	−0.233%	$64K	—	50x	as long as short