Funding arb · Price arb /

LTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.025%

Price spread now: Backpack against Kalshi−0.135%7-day average −0.040% · you buy dearer than you sell

Net, funding: paid 7d − costs−$26as in the Funding arb table

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

costs, in and out, $10k−$390.386% of the position

Long on Kalshi Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.129%+$13 on $10k

Price spread, last 4 days (all we have)−0.153%−$15 · spread now −0.135%, 7d avg −0.040%

Together, before fees−0.025%−$2 on $10k · with fees, hour by hour

Funding pays, the price is against you. Backpack is 0.095% cheaper against Kalshi than usual: you would sell low and buy high (spread −0.135% now, against its 7-day average of −0.040%). If the spread goes back, that is −$10 on $10k: about 3.2 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXLTCPERP	60.652	0	get 0.0000% / 8h	21m 40s	$345K	$4.4M	4x
Short	Backpack LTC_USDC_PERP	60.570	0.0100	get 0.0013% / 1h	21m 40s	$153K	$276K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Kalshi. 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 KalshibpFee BackpackbpOrdersPrice spread, now −0.135%Rate

Funding earned: $21
Price spread: −0.135% → −0.040%: −$9.55
Slippage, 4 orders: −$18.57
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$27.12
Costs to cover: 0.386%
Break-even: 16.0 days

Slippage from Kalshi: live order book, 2 min ago; Backpack: live order book, 37 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 Kalshi live order book, 2 min ago	2.14 bp	12.3 bp −$12	18.6 bp −$186	doesn't fit	doesn't fit
Sell Backpack live order book, 37 min ago	0.08 bp	10.7 bp −$11	doesn't fit	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
GMX LTC/USD [ETH-USDC]	L −0.0325% / S +0.0430%	1h	60.613	−0.065%	$110K	—	200x	as long as short
Polymarket Perps LTC-USD	−0.0218%	1h	60.565	−0.143%	$79K	$397K	10x	as long as short
Kalshi KXLTCPERPlong	0.0000%	8h	60.652	long leg	$345K	$4.4M	4x
Deribit LTC_USDC-PERPETUAL	0.0000%	1h	60.643	−0.015%	$687K	$1.1M	50x	as long as short
gTrade (Gains Network) LTC/USD	L +0.0002% / S −0.0003%	1h	60.625	−0.045%	$30K	—	150x	as long as short
Variational Omni LTC	+0.0024%	8h	60.534	−0.195%	$3.6M	$2.6M	—	as long as short
Injective LTC/USDC PERP	+0.0033%	1h	58.730	−3.169%	$5K	$22K	12x	as long as short
Lighter LTC	+0.0096%	1h	60.600	−0.086%	$940K	$1.6M	10x	as long as short
Orderly PERP_LTC_USDC	+0.0099%	8h	60.620	−0.053%	$13K	$174K	20x	as long as short
Paradex LTC-USD-PERP	+0.0100%	8h	60.583	−0.114%	$14K	$10K	20x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado LTC-PERP	+0.0100%	1h	60.635	−0.028%	$267K	$333K	10x	as long as short
Hyperliquid LTC	+0.0100%	1h	60.663	+0.018%	$37.1M	$25.5M	10x	as long as short
Aster LTCUSDT	+0.0100%	8h	60.632	−0.033%	$2.5M	$2.6M	75x	as long as short
Pacifica LTC	+0.0100%	1h	60.609	−0.072%	$530K	$83K	10x	as long as short
Binance LTCUSDT	+0.0100%	8h	60.591	−0.100%	$89.9M	$229.7M	75x	as long as short
Bybit LTCUSDT	+0.0100%	8h	60.590	−0.102%	$76.4M	$60.6M	75x	as long as short
OKX LTC-USDT-SWAP	+0.0100%	8h	60.590	−0.102%	$26.8M	$75.2M	50x	as long as short
Gate LTC_USDT	+0.0100%	8h	60.610	−0.069%	$12.5M	$21.9M	75x	as long as short
MEXC LTC_USDT	+0.0100%	8h	60.580	−0.119%	$57.3M	$35.5M	200x	as long as short
KuCoin LTCUSDTM	+0.0100%	8h	60.600	−0.086%	$18.1M	$13.0M	75x	as long as short
Bitget LTCUSDT	+0.0100%	8h	60.610	−0.069%	$32.2M	$22.4M	75x	as long as short
BingX LTC-USDT	+0.0100%	8h	60.610	−0.069%	—	$38.3M	—	as long as short
Backpack LTC_USDC_PERPshort	+0.0100%	1h	60.570	−0.135%	$153K	$276K	10x
edgeX LTCUSDC	+0.0100%	4h	60.632	−0.033%	$41K	$374K	20x	as long as short
GRVT LTC_USDT_Perp	+0.0100%	8h	60.600	−0.086%	$338K	$2.0M	10x	as long as short
ApeX Omni LTCUSDT	+0.0100%	1h	60.690	+0.063%	$108K	$718K	50x	as long as short
SunX LTC-USDT	+0.0100%	8h	60.710	+0.096%	$17K	$3.9M	30x	as long as short
SoDEX LTC-USD	+0.0100%	1h	60.610	−0.069%	$162	$5K	10x	as long as short
HTX LTC-USDT	+0.0100%	8h	60.560	−0.152%	$1.9M	$5.0M	75x	as long as short
Phemex LTCUSDT	+0.0100%	8h	60.610	−0.069%	$21.5M	$8.9M	50x	as long as short
Extended LTC-USD	+0.0104%	1h	60.579	−0.120%	$671K	$1.1M	25x	as long as short
Aevo LTC-PERP	+0.0104%	1h	60.605	−0.077%	$463K	—	3x	as long as short
BloFin LTC-USDT	+0.0220%	8h	60.640	−0.020%	$4.7M	$12.2M	50x	as long as short
Kraken Futures PF_LTCUSD	+0.0295%	1h	60.630	−0.036%	$6.7M	$6.2M	50x	as long as short
dYdX LTC-USD	+0.0324%	1h	60.618	−0.056%	$426K	$8K	10x	as long as short
Reya LTCRUSDPERP	+0.0336%	1h	60.605	−0.077%	$8K	—	25x	as long as short
Coinbase International LTC-PERP-INTX	+0.0848%	1h	60.710	+0.096%	$1.1M	$2.3M	50x	as long as short