LIT

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0146%/8h= +16.0% APRnext payment +$0.18 per $10,000 · paid last 24h +0.026%

Price spread now: Lighter against Phoenix−0.070%7-day average −0.039% · you buy dearer than you sell

Net, funding: paid 7d − costs−$31as in the Funding arb table

Net, price: spread back to 7d avg − costs−$46as in the Price arb table

costs, in and out, $10k−$430.429% of the position

Long on Phoenix Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.124%+$12 on $10k

Price spread, last 3 days (all we have)−0.872%−$87 · spread now −0.070%, 7d avg −0.039%

Together, before fees−0.748%+ Points / potential airdropLighter: Season 3 · farm board−$75 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.031% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.070% now, against its 7-day average of −0.039%). If the spread goes back, that is −$3 on $10k: about 17 hours of funding at the current rate (+$4 a day). At the pace of the last 7 days (+0.124% in total) that is about 42 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix LIT	4.7251	−0.0050	get 0.0006% / 1h	7m 00s	$245K	$321K	5x
Short	Lighter LIT	4.7218	0.0096	get 0.0012% / 1h	7m 00s	$59.2M	$30.3M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now −0.070%Rate

Funding earned: $30.71
Price spread: −0.070% → −0.039%: −$3.06
Slippage, 4 orders: −$35.95
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Lighter: 0 bp × 2 orders: $0
Net: −$15.3
Costs to cover: 0.429%
Break-even: 10.5 days

Slippage from Phoenix: live order book, 14 min ago; Lighter: live order book, 12 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, 14 min ago	2.10 bp	16.1 bp −$16	58.0 bp −$580	doesn't fit	doesn't fit
Sell Lighter live order book, 12 min ago	1.47 bp	3.0 bp −$3	19.6 bp −$196	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	−0.1246%	1h	4.7135	−0.245%	$41K	$40K	10x	as long as short
Gate LIT_USDT	−0.0664%	4h	4.7160	−0.193%	$2.8M	$4.5M	50x	as long as short
Orderly PERP_LIT_USDC	−0.0620%	4h	4.7107	−0.305%	$32K	$2K	10x	as long as short
Phemex LITUSDT	−0.0608%	4h	4.7130	−0.256%	$1.3M	$2.7M	20x	as long as short
01 Exchange LITUSD	−0.0592%	1h	4.7125	−0.267%	$33K	$4K	5x	as long as short
OKX LIT-USDT-SWAP	−0.0364%	4h	4.7127	−0.262%	$25.0M	$61.9M	50x	as long as short
Bullet LIT-USD	−0.0358%	1h	4.7171	−0.169%	$85K	$81K	20x	as long as short
KuCoin LITUSDTM	−0.0302%	4h	4.7189	−0.131%	$5.2M	$1.1M	30x	as long as short
Bybit LITUSDT	−0.0293%	4h	4.7141	−0.233%	$42.6M	$30.7M	75x	as long as short
Backpack LIT_USDC_PERP	−0.0266%	1h	4.7182	−0.146%	$663K	$1.5M	5x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT LIT_USDT_Perp	−0.0260%	4h	4.7220	−0.065%	$896K	$1.9M	10x	as long as short
Aftermath Perps LITUSD	−0.0152%	1h	4.7344	+0.197%	$10K	$202K	10x	as long as short
Coinbase International LIT-PERP-INTX	−0.0152%	1h	4.7721	+0.995%	$660K	$404K	50x	as long as short
SoDEX LIT-USD	−0.0059%	1h	4.7155	−0.203%	$1K	$487K	5x	as long as short
Phoenix LITlong	−0.0050%	1h	4.7251	long leg	$245K	$321K	5x
Paradex LIT-USD-PERP	−0.0024%	8h	4.7135	−0.245%	$6K	$2K	5x	as long as short
dYdX LIT-USD	0.0000%	1h	4.7205	−0.097%	$34K	—	5x	as long as short
gTrade (Gains Network) LIT/USD	L +0.0003% / S −0.0003%	1h	4.7219	−0.068%	$35K	—	150x	as long as short
RISEx LIT/USDC	+0.0009%	1h	4.7208	−0.091%	$792K	$2.0M	5x	as long as short
Nado LIT-PERP	+0.0013%	1h	4.7179	−0.152%	$2.1M	$1.7M	10x	as long as short
Polymarket Perps LIT-USD	+0.0023%	1h	4.7196	−0.116%	$446K	$105K	10x	as long as short
MEXC LIT_USDT	+0.0032%	4h	4.7114	−0.290%	$5.8M	$4.2M	100x	as long as short
Injective LIT/USDC PERP	+0.0033%	1h	4.8040	+1.670%	$422	$178K	5.5x	as long as short
Binance LITUSDT	+0.0034%	4h	4.7106	−0.307%	$74.6M	$81.6M	75x	as long as short
edgeX LITUSDC	+0.0037%	4h	4.7229	−0.047%	$287K	$310K	10x	as long as short
Aevo LIT-PERP	+0.0048%	1h	4.7135	−0.246%	$147K	$44K	3x	as long as short
Lighter LITshort	+0.0096%	1h	4.7218	−0.070%	$59.2M	$30.3M	5x
Hyperliquid LIT	+0.0100%	1h	4.7211	−0.085%	$210.4M	$45.5M	5x	as long as short
Aster LITUSDT	+0.0100%	4h	4.7198	−0.112%	$12.6M	$2.5M	50x	as long as short
Pacifica LIT	+0.0100%	1h	4.7205	−0.097%	$582K	$1.8M	10x	as long as short
Arcus LIT-USD	+0.0100%	1h	4.7174	−0.163%	$116K	$449K	5x	as long as short
Bulk LIT-USD	+0.0100%	1h	4.7374	+0.260%	$119K	$6K	10x	as long as short
Bitget LITUSDT	+0.0100%	4h	4.7170	−0.171%	$6.7M	$2.7M	20x	as long as short
ApeX Omni LITUSDT	+0.0100%	1h	4.7230	−0.044%	$55K	$78K	50x	as long as short
Derive LIT-PERP	+0.0100%	1h	4.7203	−0.102%	$2K	$1K	6.7x	as long as short
SunX LIT-USDT	+0.0100%	4h	4.7192	−0.125%	$4K	$1.2M	20x	as long as short
HTX LIT-USDT	+0.0100%	4h	4.7220	−0.066%	$189K	$329K	30x	as long as short
Extended LIT-USD	+0.0104%	1h	4.7121	−0.276%	$5.2M	$5.2M	25x	as long as short
Perpl LIT	+0.0112%	43m	4.7185	−0.140%	$31K	$843K	33x	as long as short
BloFin LIT-USDT	+0.0137%	4h	4.7180	−0.150%	$1.5M	$2.1M	75x	as long as short
GMX LIT/USD [ETH-USDC]	L +0.0357% / S −0.0155%	1h	4.7217	−0.071%	$59K	—	50x	as long as short
Lighter RH LIT	+0.0416%	1h	4.7228	−0.049%	$3.7M	$14.3M	5x	as long as short