Funding arb · Price arb /

LIT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0615%/8h= −67.3% APRpaid last 24h −0.057%

Price spread now: Phemex against SoDEX−0.097%7-day average −0.011% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$117as in the Price arb table

costs, in and out, $10k−$1081.081% of the position

Long on SoDEX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.112%−$11 on $10k

Price spread, last 3 days (all we have)+0.091%+$9 · spread now −0.097%, 7d avg −0.011%

Together, before fees−0.021%−$2 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$18 a day on $10k at the current rate, and Phemex is 0.086% cheaper against SoDEX than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of −0.011%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.112% in total (about -13.5% 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	SoDEX LIT-USD	4.8397	0.0016	pay 0.0002% / 1h	32m 19s	$1K	$475K	5x
Short	Phemex LITUSDT	4.8350	−0.0598	pay 0.0299% / 4h	3h 32m	$1.3M	$2.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against SoDEX. 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 SoDEXbpFee PhemexbpOrdersPrice spread, now −0.097%Rate

Funding earned: −$129.08
Price spread: −0.097% → −0.011%: −$8.62
Slippage, 4 orders: −$88.1
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$245.81
Costs to cover: 1.081%
Break-even: never at this rate

Slippage from SoDEX: live order book, 17 min ago; Phemex: 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 SoDEX live order book, 17 min ago	0.10 bp	19.6 bp −$20	49.6 bp −$496	doesn't fit	doesn't fit
Sell Phemex live order book, 2 min ago	4.15 bp	35.2 bp −$35	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
Deribit LIT_USDC-PERPETUAL	−0.0741%	1h	4.8400	+0.007%	$42K	$40K	10x	as long as short
Phemex LITUSDTshort	−0.0598%	4h	4.8350	−0.097%	$1.3M	$2.7M	20x
Orderly PERP_LIT_USDC	−0.0522%	4h	4.8330	−0.138%	$33K	$2K	10x	as long as short
01 Exchange LITUSD	−0.0520%	1h	4.8347	−0.103%	$34K	$5K	5x	as long as short
Bullet LIT-USD	−0.0342%	1h	4.8359	−0.079%	$87K	$79K	20x	as long as short
ApeX Omni LITUSDT	−0.0288%	1h	4.8090	−0.634%	$56K	$81K	50x	as long as short
KuCoin LITUSDTM	−0.0284%	4h	4.8351	−0.095%	$5.3M	$1.1M	30x	as long as short
OKX LIT-USDT-SWAP	−0.0246%	4h	4.8407	+0.021%	$25.8M	$60.9M	50x	as long as short
GRVT LIT_USDT_Perp	−0.0168%	4h	4.8180	−0.448%	$909K	$1.9M	10x	as long as short
Coinbase International LIT-PERP-INTX	−0.0112%	1h	4.8332	−0.134%	$667K	$407K	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix LIT	−0.0067%	1h	4.8225	−0.355%	$250K	$321K	5x	as long as short
Bybit LITUSDT	−0.0029%	4h	4.8399	+0.004%	$43.9M	$29.8M	75x	as long as short
Injective LIT/USDC PERP	−0.0004%	1h	4.8040	−0.738%	$422	$178K	5.5x	as long as short
dYdX LIT-USD	0.0000%	1h	4.8399	+0.004%	$35K	—	5x	as long as short
gTrade (Gains Network) LIT/USD	L +0.0003% / S −0.0003%	1h	4.8404	+0.015%	$36K	—	150x	as long as short
Paradex LIT-USD-PERP	+0.0005%	8h	4.8350	−0.097%	$5K	$1K	5x	as long as short
Aftermath Perps LITUSD	+0.0011%	1h	4.8143	−0.524%	$11K	$199K	10x	as long as short
RISEx LIT/USDC	+0.0014%	1h	4.8427	+0.063%	$844K	$2.0M	5x	as long as short
SoDEX LIT-USDlong	+0.0016%	1h	4.8397	long leg	$1K	$475K	5x
Bulk LIT-USD	+0.0057%	1h	4.8343	−0.112%	$121K	$7K	10x	as long as short
Nado LIT-PERP	+0.0100%	1h	4.8350	−0.097%	$2.1M	$1.7M	10x	as long as short
Hyperliquid LIT	+0.0100%	1h	4.8441	+0.091%	$215.2M	$44.7M	5x	as long as short
Pacifica LIT	+0.0100%	1h	4.8408	+0.023%	$608K	$1.8M	10x	as long as short
Binance LITUSDT	+0.0100%	4h	4.8363	−0.070%	$76.2M	$80.0M	75x	as long as short
Arcus LIT-USD	+0.0100%	1h	4.8372	−0.052%	$119K	$449K	5x	as long as short
Gate LIT_USDT	+0.0100%	4h	4.8350	−0.097%	$2.9M	$4.5M	50x	as long as short
MEXC LIT_USDT	+0.0100%	4h	4.8342	−0.114%	$6.2M	$4.2M	100x	as long as short
Bitget LITUSDT	+0.0100%	4h	4.8420	+0.048%	$6.9M	$2.7M	20x	as long as short
Backpack LIT_USDC_PERP	+0.0100%	1h	4.8389	−0.017%	$672K	$1.5M	5x	as long as short
edgeX LITUSDC	+0.0100%	4h	4.8006	−0.807%	$292K	$311K	10x	as long as short
Polymarket Perps LIT-USD	+0.0100%	1h	4.8401	+0.008%	$457K	$106K	10x	as long as short
Derive LIT-PERP	+0.0100%	1h	4.8428	+0.064%	$2K	$1K	6.7x	as long as short
SunX LIT-USDT	+0.0100%	4h	4.8357	−0.083%	$5K	$1.2M	20x	as long as short
HTX LIT-USDT	+0.0100%	4h	4.8317	−0.165%	$192K	$328K	30x	as long as short
Extended LIT-USD	+0.0104%	1h	4.8378	−0.038%	$5.3M	$5.2M	25x	as long as short
Aevo LIT-PERP	+0.0104%	1h	4.8364	−0.068%	$151K	$44K	3x	as long as short
Aster LITUSDT	+0.0169%	4h	4.8431	+0.070%	$12.9M	$2.5M	50x	as long as short
BloFin LIT-USDT	+0.0340%	4h	4.8317	−0.165%	$1.6M	$2.1M	75x	as long as short
Lighter RH LIT	+0.0424%	1h	4.8487	+0.186%	$3.8M	$13.8M	5x	as long as short
GMX LIT/USD [ETH-USDC]	L +0.0428% / S −0.0232%	1h	4.8403	+0.012%	$61K	—	50x	as long as short
Perpl LIT	+0.0447%	43m	4.8393	−0.009%	$32K	$841K	33x	as long as short
Lighter LIT	+0.0512%	1h	4.8486	+0.184%	$60.6M	$29.4M	5x	as long as short