Funding you earn now, next payment 22:00 UTC−0.0477%/8h= −52.2% APRpaid last 24h −0.037%
Price spread now: Phemex against Phoenix+0.390%73s7-day average −0.145% · you sell dearer than you buy
Net, funding: paid 7d − costs−$112as 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−$920.919% of the position
Funding, last 7 days−0.206%−$21 on $10k
+Price spread, last 3 days (all we have)−0.605%−$60 · spread now +0.390%, 7d avg −0.145%
=The price spread pays, funding is against you. Phemex is 0.535% dearer against Phoenix than usual: you sell high and buy low (spread +0.390% now, against its 7-day average of −0.145%): +$54 on $10k if it goes back. Holding the pair costs −$14 a day in funding at the current rate, which eats that in about 3.7 days. At the pace of the last 7 days (−0.206% in total) that is about 18 days. The two prices were read 73 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.206% in total (about -10.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix LIT | 4.6887 | −0.0034 | get 0.0004% / 1h | 15m 47s | $203K | $327K | 5x |
| Short | Phemex LITUSDT | 4.7070 | −0.0511 | pay 0.0255% / 4h | 1h 15m | $1.3M | $2.7M | 20x |
Phoenix LIT
Phemex LITUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Phoenix. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$100.16
- Price spread: +0.390% → −0.145%
- $53.53
- Slippage, 4 orders
- −$72.91
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$138.54
- Costs to cover
- 0.919%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 65 min ago; Phemex: live order book, 3 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, 65 min ago | 2.10 bp | 16.1 bp −$16 | 58.0 bp −$580 | doesn't fit | doesn't fit |
| Sell Phemex live order book, 3 min ago | 4.27 bp | 32.0 bp −$32 | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| Gate LIT_USDT | −0.1290% | 4h | 4.7080 | +0.412% | $2.8M | $4.5M | 50x | as long as short |
| Backpack LIT_USDC_PERP | −0.0798% | 1h | 4.7125 | +0.508% | $662K | $1.4M | 5x | as long as short |
| Deribit LIT_USDC-PERPETUAL | −0.0630% | 1h | 4.7104 | +0.463% | $41K | $40K | 10x | as long as short |
| Orderly PERP_LIT_USDC | −0.0624% | 4h | 4.7027 | +0.299% | $32K | $2K | 10x | as long as short |
| 01 Exchange LITUSD | −0.0576% | 1h | 4.7008 | +0.258% | $33K | $4K | 5x | as long as short |
| Phemex LITUSDTshort | −0.0511% | 4h | 4.7070 | +0.390% | $1.3M | $2.7M | 20x | |
| OKX LIT-USDT-SWAP | −0.0472% | 4h | 4.7091 | +0.435% | $25.4M | $62.5M | 50x | as long as short |
| Bullet LIT-USD | −0.0334% | 1h | 4.7057 | +0.362% | $84K | $81K | 20x | as long as short |
| Bybit LITUSDT | −0.0292% | 4h | 4.7100 | +0.454% | $42.5M | $30.2M | 75x | as long as short |
| KuCoin LITUSDTM | −0.0272% | 4h | 4.7075 | +0.401% | $5.2M | $1.1M | 30x | as long as short |
Gate LIT_USDT
Backpack LIT_USDC_PERP
Deribit LIT_USDC-PERPETUAL
Orderly PERP_LIT_USDC
01 Exchange LITUSD
OKX LIT-USDT-SWAP
Bullet LIT-USD
Bybit LITUSDT
KuCoin LITUSDTMShow all 42 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aftermath Perps LITUSD | −0.0231% | 1h | 4.6966 | +0.169% | $10K | $202K | 10x | as long as short |
| GRVT LIT_USDT_Perp | −0.0162% | 4h | 4.6860 | −0.058% | $895K | $1.8M | 10x | as long as short |
| Coinbase International LIT-PERP-INTX | −0.0152% | 1h | 4.7197 | +0.661% | $668K | $398K | 50x | as long as short |
| RISEx LIT/USDC | −0.0082% | 1h | 4.7065 | +0.380% | $794K | $2.1M | 5x | as long as short |
| Phoenix LITlong | −0.0034% | 1h | 4.6887 | long leg | $203K | $327K | 5x | |
| Nado LIT-PERP | −0.0018% | 1h | 4.7030 | +0.306% | $2.2M | $1.7M | 10x | as long as short |
| Paradex LIT-USD-PERP | −0.0001% | 8h | 4.6991 | +0.223% | $7K | $2K | 5x | as long as short |
| dYdX LIT-USD | 0.0000% | 1h | 4.7052 | +0.351% | $34K | — | 5x | as long as short |
| gTrade (Gains Network) LIT/USD | L +0.0003% / S −0.0003% | 1h | 4.7112 | +0.480% | $35K | — | 150x | as long as short |
| Injective LIT/USDC PERP | +0.0033% | 1h | 4.8040 | +2.459% | $422 | $178K | 5.5x | as long as short |
| MEXC LIT_USDT | +0.0054% | 4h | 4.7066 | +0.382% | $5.5M | $4.2M | 100x | as long as short |
| edgeX LITUSDC | +0.0057% | 4h | 4.6898 | +0.024% | $285K | $311K | 10x | as long as short |
| Binance LITUSDT | +0.0061% | 4h | 4.7087 | +0.427% | $74.8M | $80.9M | 75x | as long as short |
| Aevo LIT-PERP | +0.0072% | 1h | 4.7078 | +0.407% | $147K | $44K | 3x | as long as short |
| Lighter LIT | +0.0096% | 1h | 4.7156 | +0.574% | $59.4M | $29.8M | 5x | as long as short |
| Hyperliquid LIT | +0.0100% | 1h | 4.7173 | +0.610% | $210.6M | $44.3M | 5x | as long as short |
| Aster LITUSDT | +0.0100% | 4h | 4.7141 | +0.541% | $12.6M | $2.4M | 50x | as long as short |
| Pacifica LIT | +0.0100% | 1h | 4.7043 | +0.333% | $602K | $1.7M | 10x | as long as short |
| Arcus LIT-USD | +0.0100% | 1h | 4.7048 | +0.343% | $117K | $450K | 5x | as long as short |
| Bulk LIT-USD | +0.0100% | 1h | 4.6888 | +0.002% | $117K | $5K | 10x | as long as short |
| Bitget LITUSDT | +0.0100% | 4h | 4.7130 | +0.518% | $6.7M | $2.7M | 20x | as long as short |
| ApeX Omni LITUSDT | +0.0100% | 1h | 4.6930 | +0.092% | $55K | $77K | 50x | as long as short |
| Polymarket Perps LIT-USD | +0.0100% | 1h | 4.7061 | +0.371% | $445K | $105K | 10x | as long as short |
| Derive LIT-PERP | +0.0100% | 1h | 4.7129 | +0.515% | $2K | $650 | 6.7x | as long as short |
| SunX LIT-USDT | +0.0100% | 4h | 4.7066 | +0.382% | $4K | $1.2M | 20x | as long as short |
| SoDEX LIT-USD | +0.0100% | 1h | 4.7085 | +0.422% | $1K | $464K | 5x | as long as short |
| HTX LIT-USDT | +0.0100% | 4h | 4.6991 | +0.222% | $188K | $329K | 30x | as long as short |
| Extended LIT-USD | +0.0104% | 1h | 4.7070 | +0.390% | $5.2M | $5.1M | 25x | as long as short |
| Lighter RH LIT | +0.0216% | 1h | 4.7181 | +0.627% | $3.7M | $13.8M | 5x | as long as short |
| BloFin LIT-USDT | +0.0216% | 4h | 4.6887 | 0.000% | $1.5M | $2.0M | 75x | as long as short |
| Perpl LIT | +0.0335% | 43m | 4.7043 | +0.332% | $31K | $839K | 33x | as long as short |
| GMX LIT/USD [ETH-USDC] | L +0.0375% / S −0.0169% | 1h | 4.7107 | +0.468% | $62K | — | 50x | as long as short |
Aftermath Perps LITUSD
GRVT LIT_USDT_Perp
Coinbase International LIT-PERP-INTX
RISEx LIT/USDC
Nado LIT-PERP
Paradex LIT-USD-PERP
dYdX LIT-USD
gTrade (Gains Network) LIT/USD
Injective LIT/USDC PERP
MEXC LIT_USDT
edgeX LITUSDC
Binance LITUSDT
Aevo LIT-PERP
Lighter LIT
Hyperliquid LIT
Aster LITUSDT
Pacifica LIT
Arcus LIT-USD
Bulk LIT-USD
Bitget LITUSDT
ApeX Omni LITUSDT
Polymarket Perps LIT-USD
Derive LIT-PERP
SunX LIT-USDT
SoDEX LIT-USD
HTX LIT-USDT
Extended LIT-USD
Lighter RH LIT
BloFin LIT-USDT
Perpl LIT
GMX LIT/USD [ETH-USDC]