Funding arb · Price arb /

LTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0074%/8h= +8.1% APRpaid last 24h −0.017%

Price spread now: Bybit against Backpack+0.129%7-day average −0.009% · you sell dearer than you buy

Net, funding: paid 7d − costs−$35as in the Funding arb table

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

costs, in and out, $10k−$350.348% of the position

Long on Backpack Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.001%$0 on $10k

Price spread, last 4 days (all we have)−0.018%−$2 · spread now +0.129%, 7d avg −0.009%

Together, before fees−0.019%−$2 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Bybit is 0.138% dearer against Backpack than usual: you sell high and buy low: +$14 more if the spread goes back to its 7-day average of −0.009%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack LTC_USDC_PERP	61.960	−0.0019	get 0.0002% / 1h	35m 39s	$161K	$268K	10x
Short	Bybit LTCUSDT	62.040	0.0055	get 0.0055% / 8h	2h 35m	$78.6M	$59.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Backpack. 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 BackpackbpFee BybitbpOrdersPrice spread, now +0.129%Rate

Funding earned: $15.52
Price spread: +0.129% → −0.009%: $13.77
Slippage, 4 orders: −$13.81
Fee Backpack: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$5.53
Costs to cover: 0.348%
Break-even: 9.5 days

Slippage from Backpack: live order book, 52 min ago; Bybit: 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 Backpack live order book, 52 min ago	0.08 bp	8.5 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	0.81 bp	10.6 bp −$11	21.6 bp −$216	54.8 bp −$5,478	doesn't fit

LTC on 37 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
Polymarket Perps LTC-USD	−0.0350%	1h	61.927	−0.053%	$79K	$371K	10x	as long as short
Variational Omni LTC	−0.0091%	8h	61.905	−0.088%	$3.6M	$4.1M	—	as long as short
Gate LTC_USDT	−0.0037%	8h	61.980	+0.032%	$12.7M	$20.9M	75x	as long as short
GMX LTC/USD [ETH-USDC]	L −0.0025% / S +0.0256%	1h	61.985	+0.041%	$128K	—	200x	as long as short
Backpack LTC_USDC_PERPlong	−0.0019%	1h	61.960	long leg	$161K	$268K	10x
Kalshi KXLTCPERP	0.0000%	8h	61.992	+0.052%	$345K	$4.0M	4x	as long as short
Deribit LTC_USDC-PERPETUAL	0.0000%	1h	62.019	+0.095%	$694K	$1.0M	50x	as long as short
gTrade (Gains Network) LTC/USD	L +0.0002% / S −0.0003%	1h	61.984	+0.039%	$31K	—	150x	as long as short
Injective LTC/USDC PERP	+0.0033%	1h	58.730	−5.213%	$5K	$22K	12x	as long as short
Bybit LTCUSDTshort	+0.0055%	8h	62.040	+0.129%	$78.6M	$59.6M	75x

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter LTC	+0.0096%	1h	62.105	+0.234%	$1.3M	$1.2M	10x	as long as short
Orderly PERP_LTC_USDC	+0.0099%	8h	61.960	0.000%	$12K	$210K	20x	as long as short
Paradex LTC-USD-PERP	+0.0100%	8h	62.042	+0.133%	$16K	$10K	20x	as long as short
Nado LTC-PERP	+0.0100%	1h	61.930	−0.048%	$254K	$324K	10x	as long as short
Hyperliquid LTC	+0.0100%	1h	62.085	+0.202%	$38.1M	$23.1M	10x	as long as short
Aster LTCUSDT	+0.0100%	8h	62.019	+0.095%	$2.6M	$2.1M	75x	as long as short
Pacifica LTC	+0.0100%	1h	62.058	+0.158%	$543K	$84K	10x	as long as short
Binance LTCUSDT	+0.0100%	8h	62.057	+0.157%	$96.0M	$221.3M	75x	as long as short
OKX LTC-USDT-SWAP	+0.0100%	8h	62.050	+0.145%	$27.6M	$74.7M	50x	as long as short
MEXC LTC_USDT	+0.0100%	8h	62.050	+0.145%	$61.5M	$35.2M	200x	as long as short
KuCoin LTCUSDTM	+0.0100%	8h	62.050	+0.145%	$18.7M	$12.1M	75x	as long as short
Bitget LTCUSDT	+0.0100%	8h	62.040	+0.129%	$32.0M	$21.6M	75x	as long as short
BingX LTC-USDT	+0.0100%	8h	62.050	+0.145%	—	$37.5M	—	as long as short
edgeX LTCUSDC	+0.0100%	4h	61.826	−0.216%	$42K	$345K	20x	as long as short
GRVT LTC_USDT_Perp	+0.0100%	8h	61.915	−0.073%	$348K	$2.0M	10x	as long as short
ApeX Omni LTCUSDT	+0.0100%	1h	61.920	−0.065%	$103K	$711K	50x	as long as short
SunX LTC-USDT	+0.0100%	8h	62.080	+0.194%	$17K	$4.2M	30x	as long as short
SoDEX LTC-USD	+0.0100%	1h	61.970	+0.016%	$638	$5K	10x	as long as short
HTX LTC-USDT	+0.0100%	8h	61.980	+0.032%	$1.9M	$4.9M	75x	as long as short
Phemex LTCUSDT	+0.0100%	8h	62.010	+0.081%	$22.2M	$9.0M	50x	as long as short
Extended LTC-USD	+0.0104%	1h	61.983	+0.037%	$691K	$1.1M	25x	as long as short
Aevo LTC-PERP	+0.0104%	1h	61.975	+0.024%	$473K	$499	3x	as long as short
BloFin LTC-USDT	+0.0220%	8h	61.980	+0.032%	$4.9M	$11.8M	50x	as long as short
Kraken Futures PF_LTCUSD	+0.0228%	1h	62.000	+0.065%	$6.8M	$5.8M	50x	as long as short
Reya LTCRUSDPERP	+0.0334%	1h	61.959	−0.002%	$8K	$199	25x	as long as short
dYdX LTC-USD	+0.0503%	1h	62.038	+0.126%	$436K	$8K	10x	as long as short
Coinbase International LTC-PERP-INTX	+0.0712%	1h	62.110	+0.242%	$1.2M	$2.1M	50x	as long as short