Funding arb · Price arb /

LIT

all LIT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0068%/8h= −7.4% APRpaid last 24h −0.072%

Price spread now: OKX against Phoenix−0.314%56s7-day average −0.157% · you buy dearer than you sell

Net, funding: paid 7d − costs−$80as 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−$530.534% of the position

Long on Phoenix Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.266%−$27 on $10k

Price spread, last 4 days (all we have)−3.104%−$310 · spread now −0.314%, 7d avg −0.157%

Together, before fees−3.370%−$337 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and OKX is 0.157% cheaper against Phoenix than usual: you would sell low and buy high (−$16 if the spread goes back to its 7-day average of −0.157%). Swap the legs. The two prices were read 56 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	4.7162	−0.0102	get 0.0013% / 1h	44m 28s	$203K	$352K	5x
Short	OKX LIT-USDT-SWAP	4.7014	−0.0170	pay 0.0085% / 4h	2h 44m	$25.6M	$63.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.314%Rate

Funding earned: −$14.25
Price spread: −0.314% → −0.157%: −$15.71
Slippage, 4 orders: −$36.37
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee OKX: 5 bp × 2 orders: −$10
Net: −$83.34
Costs to cover: 0.534%
Break-even: never at this rate

Slippage from Phoenix: live order book, 22 min ago; OKX: live order book, 4 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, 22 min ago	2.10 bp	16.0 bp −$16	57.9 bp −$579	doesn't fit	doesn't fit
Sell OKX live order book, 4 min ago	0.43 bp	11.5 bp −$11	29.8 bp −$298	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	−0.0655%	1h	4.7031	−0.278%	$41K	$40K	10x	as long as short
01 Exchange LITUSD	−0.0584%	1h	4.6944	−0.462%	$33K	$4K	5x	as long as short
Orderly PERP_LIT_USDC	−0.0465%	4h	4.6976	−0.394%	$32K	$2K	10x	as long as short
Bullet LIT-USD	−0.0412%	1h	4.7039	−0.260%	$84K	$72K	20x	as long as short
OKX LIT-USDT-SWAPshort	−0.0170%	4h	4.7014	−0.314%	$25.6M	$63.8M	50x
Backpack LIT_USDC_PERP	−0.0166%	1h	4.7064	−0.208%	$682K	$1.4M	5x	as long as short
Gate LIT_USDT	−0.0144%	4h	4.7020	−0.301%	$2.8M	$4.2M	50x	as long as short
KuCoin LITUSDTM	−0.0136%	4h	4.7044	−0.250%	$5.2M	$1.1M	30x	as long as short
GRVT LIT_USDT_Perp	−0.0122%	4h	4.7120	−0.089%	$895K	$1.8M	10x	as long as short
Phoenix LITlong	−0.0102%	1h	4.7162	long leg	$203K	$352K	5x

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International LIT-PERP-INTX	−0.0080%	1h	4.7209	+0.099%	$668K	$387K	50x	as long as short
dYdX LIT-USD	0.0000%	1h	4.7063	−0.210%	$34K	—	5x	as long as short
gTrade (Gains Network) LIT/USD	L +0.0003% / S 0.0000%	1h	4.7093	−0.147%	$471	—	150x	as long as short
Bulk LIT-USD	+0.0028%	1h	4.6991	−0.362%	$117K	$1K	10x	as long as short
Injective LIT/USDC PERP	+0.0033%	1h	4.8040	+1.862%	$422	$178K	5.5x	as long as short
Paradex LIT-USD-PERP	+0.0040%	8h	4.6986	−0.374%	$7K	$2K	5x	as long as short
ApeX Omni LITUSDT	+0.0052%	1h	4.7040	−0.259%	$56K	$77K	50x	as long as short
RISEx LIT/USDC	+0.0081%	1h	4.7043	−0.251%	$784K	$2.0M	5x	as long as short
Lighter LIT	+0.0096%	1h	4.7079	−0.176%	$59.0M	$29.2M	5x	as long as short
Nado LIT-PERP	+0.0100%	1h	4.6995	−0.354%	$2.2M	$1.7M	10x	as long as short
Hyperliquid LIT	+0.0100%	1h	4.7112	−0.106%	$211.1M	$44.3M	5x	as long as short
Aster LITUSDT	+0.0100%	4h	4.7076	−0.183%	$12.6M	$2.1M	50x	as long as short
Pacifica LIT	+0.0100%	1h	4.7002	−0.339%	$583K	$1.7M	10x	as long as short
Binance LITUSDT	+0.0100%	4h	4.6979	−0.388%	$75.0M	$80.5M	75x	as long as short
Bybit LITUSDT	+0.0100%	4h	4.7005	−0.333%	$42.2M	$29.8M	75x	as long as short
Arcus LIT-USD	+0.0100%	1h	4.7015	−0.312%	$116K	$448K	5x	as long as short
MEXC LIT_USDT	+0.0100%	4h	4.6980	−0.386%	$5.5M	$4.1M	100x	as long as short
Bitget LITUSDT	+0.0100%	4h	4.7030	−0.280%	$6.7M	$2.7M	20x	as long as short
edgeX LITUSDC	+0.0100%	4h	4.6985	−0.375%	$286K	$306K	10x	as long as short
Polymarket Perps LIT-USD	+0.0100%	1h	4.7015	−0.312%	$444K	$104K	10x	as long as short
Derive LIT-PERP	+0.0100%	1h	4.7069	−0.198%	$2K	—	6.7x	as long as short
SunX LIT-USDT	+0.0100%	4h	4.7088	−0.157%	$4K	$1.2M	20x	as long as short
SoDEX LIT-USD	+0.0100%	1h	4.7043	−0.252%	$1K	$457K	5x	as long as short
HTX LIT-USDT	+0.0100%	4h	4.7032	−0.276%	$188K	$354K	30x	as long as short
Phemex LITUSDT	+0.0100%	4h	4.7040	−0.259%	$1.4M	$2.7M	20x	as long as short
Extended LIT-USD	+0.0104%	1h	4.6973	−0.401%	$5.2M	$5.1M	25x	as long as short
Aevo LIT-PERP	+0.0104%	1h	4.7010	−0.322%	$147K	—	3x	as long as short
Lighter RH LIT	+0.0128%	1h	4.7097	−0.138%	$3.7M	$13.2M	5x	as long as short
BloFin LIT-USDT	+0.0340%	4h	4.7139	−0.049%	$1.6M	$2.0M	75x	as long as short
Aftermath Perps LITUSD	+0.0340%	1h	4.7104	−0.124%	$9K	$209K	10x	as long as short
GMX LIT/USD [ETH-USDC]	L +0.0403% / S −0.0195%	1h	4.7074	−0.186%	$63K	—	50x	as long as short
Perpl LIT	+0.0447%	43m	4.7104	−0.123%	$31K	$861K	33x	as long as short