Funding arb · Price arb /

LIT

all LIT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0134%/8h= +14.7% APRpaid last 24h +0.030%

Price spread now: MEXC against Phoenix−0.181%62s7-day average −0.156% · you buy dearer than you sell

Net, funding: paid 7d − costs−$49as 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−$410.406% of the position

Long on Phoenix Short on MEXC

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)−1.056%−$106 · spread now −0.181%, 7d avg −0.156%

Together, before fees−1.142%−$114 on $10k · with fees, hour by hour

Funding pays, the price is against you. MEXC is 0.025% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.181% now, against its 7-day average of −0.156%). If the spread goes back, that is −$3 on $10k: about 15 hours of funding at the current rate (+$4 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 62 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	4.7025	−0.0034	get 0.0004% / 1h	20m 22s	$202K	$305K	5x
Short	MEXC LIT_USDT	4.6940	0.0100	get 0.0050% / 4h	20m 22s	$5.6M	$3.9M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Phoenix. 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 PhoenixbpFee MEXCbpOrdersPrice spread, now −0.181%Rate

Funding earned: $28.17
Price spread: −0.181% → −0.156%: −$2.5
Slippage, 4 orders: −$29.64
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$14.96
Costs to cover: 0.406%
Break-even: 10.7 days

Slippage from Phoenix: live order book, 36 min ago; MEXC: 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, 36 min ago	1.92 bp	16.1 bp −$16	58.1 bp −$581	doesn't fit	doesn't fit
Sell MEXC live order book, 2 min ago	0.11 bp	4.9 bp −$5	57.2 bp −$572	342.2 bp −$34.2K	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	−0.0671%	1h	4.6951	−0.156%	$41K	$40K	10x	as long as short
01 Exchange LITUSD	−0.0408%	1h	4.6932	−0.198%	$33K	$3K	5x	as long as short
Orderly PERP_LIT_USDC	−0.0392%	4h	4.6890	−0.287%	$32K	$1K	10x	as long as short
Bullet LIT-USD	−0.0294%	1h	4.6948	−0.164%	$84K	$68K	20x	as long as short
Coinbase International LIT-PERP-INTX	−0.0192%	1h	4.6904	−0.258%	$613K	$399K	50x	as long as short
Gate LIT_USDT	−0.0152%	4h	4.6960	−0.138%	$2.7M	$4.3M	50x	as long as short
Bybit LITUSDT	−0.0087%	4h	4.6950	−0.159%	$41.2M	$28.8M	75x	as long as short
Phemex LITUSDT	−0.0054%	4h	4.6950	−0.159%	$1.4M	$2.8M	20x	as long as short
Phoenix LITlong	−0.0034%	1h	4.7025	long leg	$202K	$305K	5x
Extended LIT-USD	−0.0024%	1h	4.6973	−0.111%	$5.1M	$5.0M	25x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX LIT-USD	0.0000%	1h	4.7011	−0.030%	$34K	—	5x	as long as short
gTrade (Gains Network) LIT/USD	L +0.0003% / S −0.0002%	1h	4.6986	−0.084%	$11K	—	150x	as long as short
OKX LIT-USDT-SWAP	+0.0009%	4h	4.6956	−0.147%	$25.2M	$61.1M	50x	as long as short
KuCoin LITUSDTM	+0.0020%	4h	4.6987	−0.081%	$5.2M	$1.0M	30x	as long as short
Injective LIT/USDC PERP	+0.0033%	1h	4.8040	+2.158%	$422	$178K	5.5x	as long as short
Polymarket Perps LIT-USD	+0.0064%	1h	4.6955	−0.149%	$439K	$109K	10x	as long as short
Backpack LIT_USDC_PERP	+0.0069%	1h	4.6977	−0.102%	$657K	$1.4M	5x	as long as short
RISEx LIT/USDC	+0.0073%	1h	4.7003	−0.047%	$790K	$2.1M	5x	as long as short
Paradex LIT-USD-PERP	+0.0073%	8h	4.6951	−0.158%	$6K	$2K	5x	as long as short
Nado LIT-PERP	+0.0076%	1h	4.6961	−0.135%	$2.2M	$1.7M	10x	as long as short
Lighter LIT	+0.0096%	1h	4.7019	−0.013%	$58.6M	$28.8M	5x	as long as short
Lighter RH LIT	+0.0096%	1h	4.7058	+0.070%	$3.7M	$13.2M	5x	as long as short
Hyperliquid LIT	+0.0100%	1h	4.7027	+0.004%	$210.3M	$41.8M	5x	as long as short
Pacifica LIT	+0.0100%	1h	4.6982	−0.091%	$592K	$1.6M	10x	as long as short
Binance LITUSDT	+0.0100%	4h	4.6934	−0.193%	$75.1M	$79.3M	75x	as long as short
Arcus LIT-USD	+0.0100%	1h	4.6992	−0.070%	$117K	$457K	5x	as long as short
Bulk LIT-USD	+0.0100%	1h	4.6895	−0.276%	$117K	$1K	10x	as long as short
MEXC LIT_USDTshort	+0.0100%	4h	4.6940	−0.181%	$5.6M	$3.9M	100x
Bitget LITUSDT	+0.0100%	4h	4.6970	−0.117%	$6.7M	$2.6M	20x	as long as short
edgeX LITUSDC	+0.0100%	4h	4.6919	−0.226%	$287K	$304K	10x	as long as short
GRVT LIT_USDT_Perp	+0.0100%	4h	4.6947	−0.167%	$906K	$1.7M	10x	as long as short
ApeX Omni LITUSDT	+0.0100%	1h	4.6950	−0.159%	$56K	$76K	50x	as long as short
Derive LIT-PERP	+0.0100%	1h	4.6981	−0.094%	$2K	—	6.7x	as long as short
SunX LIT-USDT	+0.0100%	4h	4.6982	−0.091%	$5K	$1.2M	20x	as long as short
SoDEX LIT-USD	+0.0100%	1h	4.6955	−0.149%	$1K	$380K	5x	as long as short
HTX LIT-USDT	+0.0100%	4h	4.7024	−0.002%	$199K	$368K	30x	as long as short
Aevo LIT-PERP	+0.0104%	1h	4.6930	−0.202%	$147K	—	3x	as long as short
Aster LITUSDT	+0.0225%	4h	4.7033	+0.017%	$12.6M	$1.9M	50x	as long as short
Aftermath Perps LITUSD	+0.0269%	1h	4.6960	−0.139%	$10K	$205K	10x	as long as short
Perpl LIT	+0.0335%	43m	4.6996	−0.062%	$31K	$770K	33x	as long as short
BloFin LIT-USDT	+0.0340%	4h	4.6927	−0.208%	$1.5M	$1.9M	75x	as long as short
GMX LIT/USD [ETH-USDC]	L +0.0435% / S −0.0231%	1h	4.6975	−0.107%	$65K	—	50x	as long as short