Funding arb · Price arb /

LTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.005%

Price spread now: Phemex against Backpack+0.069%7-day average +0.068% · you sell dearer than you buy

Net, funding: paid 7d − costs−$47as in the Funding arb table

Net, price: spread back to 7d avg − costs−$55as in the Price arb table

costs, in and out, $10k−$550.550% of the position

Long on Backpack Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.079%+$8 on $10k

Price spread, last 4 days (all we have)+0.009%+$1 · spread now +0.069%, 7d avg +0.068%

Together, before fees+0.088%+$9 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack LTC_USDC_PERP	60.638	0.0100	pay 0.0013% / 1h	55m 35s	$142K	$276K	10x
Short	Phemex LTCUSDT	60.680	0.0100	get 0.0100% / 8h	7h 55m	$21.4M	$9.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.069%Rate

Funding earned: $0
Price spread: +0.069% → +0.068%: $0.17
Slippage, 4 orders: −$32.97
Fee Backpack: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$54.8
Costs to cover: 0.550%
Break-even: never at this rate

Slippage from Backpack: live order book, 43 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 Backpack live order book, 43 min ago	0.08 bp	5.2 bp −$5	doesn't fit	doesn't fit	doesn't fit
Sell Phemex live order book, 3 min ago	10.71 bp	20.2 bp −$20	40.8 bp −$408	doesn't fit	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
Kraken Futures PF_LTCUSD	−0.0040%	1h	60.681	+0.071%	$6.5M	$6.6M	50x	as long as short
GMX LTC/USD [ETH-USDC]	L −0.0024% / S +0.0153%	1h	60.680	+0.069%	$76K	—	200x	as long as short
Kalshi KXLTCPERP	0.0000%	8h	60.705	+0.110%	$344K	$4.4M	4x	as long as short
Deribit LTC_USDC-PERPETUAL	0.0000%	1h	60.708	+0.115%	$686K	$1.1M	50x	as long as short
gTrade (Gains Network) LTC/USD	L +0.0002% / S −0.0002%	1h	60.685	+0.077%	$25K	—	150x	as long as short
Variational Omni LTC	+0.0011%	8h	60.655	+0.028%	$3.6M	$2.7M	—	as long as short
Injective LTC/USDC PERP	+0.0033%	1h	58.730	−3.147%	$5K	$22K	12x	as long as short
dYdX LTC-USD	+0.0055%	1h	60.760	+0.202%	$427K	$6K	10x	as long as short
Lighter LTC	+0.0096%	1h	60.617	−0.035%	$929K	$1.6M	10x	as long as short
Orderly PERP_LTC_USDC	+0.0099%	8h	60.680	+0.069%	$13K	$96K	20x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex LTC-USD-PERP	+0.0100%	8h	60.580	−0.096%	$14K	$10K	20x	as long as short
Nado LTC-PERP	+0.0100%	1h	60.690	+0.086%	$263K	$344K	10x	as long as short
Aster LTCUSDT	+0.0100%	8h	60.651	+0.022%	$2.5M	$2.6M	75x	as long as short
Pacifica LTC	+0.0100%	1h	60.594	−0.072%	$530K	$82K	10x	as long as short
Binance LTCUSDT	+0.0100%	8h	60.580	−0.096%	$88.7M	$235.9M	75x	as long as short
Bybit LTCUSDT	+0.0100%	8h	60.570	−0.112%	$77.0M	$61.6M	75x	as long as short
OKX LTC-USDT-SWAP	+0.0100%	8h	60.580	−0.096%	$26.9M	$76.9M	50x	as long as short
Gate LTC_USDT	+0.0100%	8h	60.590	−0.079%	$14.2M	$21.4M	75x	as long as short
MEXC LTC_USDT	+0.0100%	8h	60.600	−0.063%	$56.4M	$36.0M	200x	as long as short
KuCoin LTCUSDTM	+0.0100%	8h	60.590	−0.079%	$18.0M	$13.5M	75x	as long as short
Bitget LTCUSDT	+0.0100%	8h	60.610	−0.046%	$31.2M	$23.0M	75x	as long as short
BingX LTC-USDC	+0.0100%	8h	60.590	−0.079%	—	$6.5M	—	as long as short
Backpack LTC_USDC_PERPlong	+0.0100%	1h	60.638	long leg	$142K	$276K	10x
edgeX LTCUSDC	+0.0100%	4h	60.644	+0.010%	$41K	$378K	20x	as long as short
GRVT LTC_USDT_Perp	+0.0100%	8h	60.660	+0.036%	$347K	$1.9M	10x	as long as short
ApeX Omni LTCUSDT	+0.0100%	1h	60.680	+0.069%	$107K	$714K	50x	as long as short
Polymarket Perps LTC-USD	+0.0100%	1h	60.710	+0.119%	$82K	$732K	10x	as long as short
SunX LTC-USDT	+0.0100%	8h	60.770	+0.218%	$17K	$3.8M	30x	as long as short
SoDEX LTC-USD	+0.0100%	1h	60.660	+0.036%	$163	$6K	10x	as long as short
HTX LTC-USDT	+0.0100%	8h	60.710	+0.119%	$2.0M	$5.1M	75x	as long as short
Phemex LTCUSDTshort	+0.0100%	8h	60.680	+0.069%	$21.4M	$9.0M	50x
Extended LTC-USD	+0.0104%	1h	60.569	−0.114%	$680K	$1.1M	25x	as long as short
Aevo LTC-PERP	+0.0104%	1h	60.675	+0.061%	$463K	—	3x	as long as short
Hyperliquid LTC	+0.0110%	1h	60.651	+0.021%	$38.2M	$26.5M	10x	as long as short
BloFin LTC-USDT	+0.0220%	8h	60.710	+0.119%	$4.2M	$12.5M	50x	as long as short
Reya LTCRUSDPERP	+0.0338%	1h	60.676	+0.063%	$8K	—	25x	as long as short
Coinbase International LTC-PERP-INTX	+0.0632%	1h	60.770	+0.218%	$1.1M	$2.6M	50x	as long as short