Funding arb · Price arb /

LTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0732%/8h= −80.2% APRpaid last 24h −0.151%

Price spread now: Phemex against Coinbase International−0.408%7-day average −0.070% · you buy dearer than you sell

Net, funding: paid 7d − costs−$93as in the Funding arb table

Net, price: spread back to 7d avg − costs−$86as in the Price arb table

costs, in and out, $10k−$520.523% of the position

Long on Coinbase International Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.407%−$41 on $10k

Price spread, last 3 days (all we have)+0.371%+$37 · spread now −0.408%, 7d avg −0.070%

Together, before fees−0.036%−$4 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$22 a day on $10k at the current rate, and Phemex is 0.337% cheaper against Coinbase International than usual: you would sell low and buy high (−$34 if the spread goes back to its 7-day average of −0.070%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.407% in total (about -21.2% 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	Coinbase International LTC-PERP-INTX	61.290	0.0832	pay 0.0104% / 1h	57m 47s	$1.2M	$2.2M	50x
Short	Phemex LTCUSDT	61.040	0.0100	get 0.0100% / 8h	5h 57m	$21.7M	$8.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Coinbase International. 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 Coinbase InternationalbpFee PhemexbpOrdersPrice spread, now −0.408%Rate

Funding earned: −$153.72
Price spread: −0.408% → −0.070%: −$33.75
Slippage, 4 orders: −$30.3
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$239.77
Costs to cover: 0.523%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 1 min ago; Phemex: live order book, 6 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 Coinbase International live order book, 1 min ago	5.72 bp	12.0 bp −$12	17.2 bp −$172	doesn't fit	doesn't fit
Sell Phemex live order book, 6 min ago	5.72 bp	13.4 bp −$13	32.8 bp −$328	doesn't fit	doesn't fit

LTC on 36 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
GMX LTC/USD [ETH-USDC]	L −0.0245% / S +0.0372%	1h	61.033	−0.420%	$111K	—	200x	as long as short
Variational Omni LTC	−0.0020%	8h	61.094	−0.319%	$3.6M	$2.6M	—	as long as short
Kalshi KXLTCPERP	0.0000%	8h	61.060	−0.375%	$293K	$4.2M	4x	as long as short
gTrade (Gains Network) LTC/USD	L +0.0002% / S −0.0005%	1h	61.036	−0.415%	$19K	—	150x	as long as short
Polymarket Perps LTC-USD	+0.0025%	1h	61.007	−0.462%	$79K	$382K	10x	as long as short
Injective LTC/USDC PERP	+0.0033%	1h	58.730	−4.177%	$5K	$22K	12x	as long as short
Orderly PERP_LTC_USDC	+0.0100%	8h	61.040	−0.408%	$13K	$210K	20x	as long as short
Paradex LTC-USD-PERP	+0.0100%	8h	60.978	−0.509%	$14K	$10K	20x	as long as short
Nado LTC-PERP	+0.0100%	1h	61.075	−0.351%	$267K	$310K	10x	as long as short
Hyperliquid LTC	+0.0100%	1h	60.994	−0.483%	$37.3M	$24.2M	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster LTCUSDT	+0.0100%	8h	61.000	−0.473%	$2.6M	$2.4M	75x	as long as short
Pacifica LTC	+0.0100%	1h	60.972	−0.519%	$533K	$83K	10x	as long as short
Binance LTCUSDT	+0.0100%	8h	60.970	−0.522%	$92.9M	$218.2M	75x	as long as short
Bybit LTCUSDT	+0.0100%	8h	60.950	−0.555%	$77.5M	$57.3M	75x	as long as short
OKX LTC-USDT-SWAP	+0.0100%	8h	60.940	−0.571%	$26.9M	$72.9M	50x	as long as short
Gate LTC_USDT	+0.0100%	8h	60.960	−0.538%	$12.7M	$20.7M	75x	as long as short
MEXC LTC_USDT	+0.0100%	8h	60.960	−0.538%	$58.8M	$34.0M	200x	as long as short
KuCoin LTCUSDTM	+0.0100%	8h	60.970	−0.522%	$18.2M	$12.6M	75x	as long as short
Bitget LTCUSDT	+0.0100%	8h	60.960	−0.538%	$31.2M	$21.1M	75x	as long as short
BingX LTC-USDC	+0.0100%	8h	60.960	−0.538%	—	$6.5M	—	as long as short
Backpack LTC_USDC_PERP	+0.0100%	1h	60.997	−0.478%	$155K	$270K	10x	as long as short
edgeX LTCUSDC	+0.0100%	4h	61.105	−0.302%	$41K	$375K	20x	as long as short
GRVT LTC_USDT_Perp	+0.0100%	8h	61.143	−0.239%	$343K	$2.0M	10x	as long as short
ApeX Omni LTCUSDT	+0.0100%	1h	61.110	−0.294%	$113K	$709K	50x	as long as short
SunX LTC-USDT	+0.0100%	8h	61.160	−0.212%	$17K	$3.9M	30x	as long as short
SoDEX LTC-USD	+0.0100%	1h	61.050	−0.392%	$164	$5K	10x	as long as short
HTX LTC-USDT	+0.0100%	8h	61.010	−0.457%	$1.9M	$4.7M	75x	as long as short
Phemex LTCUSDTshort	+0.0100%	8h	61.040	−0.408%	$21.7M	$8.7M	50x
Extended LTC-USD	+0.0104%	1h	60.928	−0.590%	$679K	$1.1M	25x	as long as short
Aevo LTC-PERP	+0.0104%	1h	61.041	−0.407%	$466K	—	3x	as long as short
Lighter LTC	+0.0160%	1h	61.047	−0.396%	$1.3M	$1.2M	10x	as long as short
Deribit LTC_USDC-PERPETUAL	+0.0160%	1h	61.071	−0.357%	$690K	$1.1M	50x	as long as short
dYdX LTC-USD	+0.0302%	1h	60.960	−0.538%	$428K	$8K	10x	as long as short
Reya LTCRUSDPERP	+0.0336%	1h	61.016	−0.447%	$8K	—	25x	as long as short
Kraken Futures PF_LTCUSD	+0.0348%	1h	61.065	−0.366%	$6.8M	$5.7M	50x	as long as short
Coinbase International LTC-PERP-INTXlong	+0.0832%	1h	61.290	long leg	$1.2M	$2.2M	50x