Funding arb · Price arb /

LTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0748%/8h= +81.9% APRpaid last 24h +0.142%

Price spread now: Coinbase International against Phemex+0.016%7-day average +0.071% · you sell dearer than you buy

Net, funding: paid 7d − costs−$6as in the Funding arb table

Net, price: spread back to 7d avg − costs−$50as in the Price arb table

costs, in and out, $10k−$450.446% of the position

Long on Phemex Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.386%+$39 on $10k

Price spread, last 3 days (all we have)−0.021%−$2 · spread now +0.016%, 7d avg +0.071%

Together, before fees+0.366%+$37 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.055% cheaper against Phemex than usual: you would sell low and buy high (spread +0.016% now, against its 7-day average of +0.071%). If the spread goes back, that is −$5 on $10k: about 6 hours of funding at the current rate (+$22 a day). At the pace of the last 7 days (+0.386% in total) that is about 24 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.386% in total (about 20.2% 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	Phemex LTCUSDT	62.030	0.0100	pay 0.0100% / 8h	21m 44s	$22.2M	$9.1M	50x
Short	Coinbase International LTC-PERP-INTX	62.040	0.0848	get 0.0106% / 1h	21m 44s	$1.2M	$2.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Phemex. 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 PhemexbpFee Coinbase InternationalbpOrdersPrice spread, now +0.016%Rate

Funding earned: $157.08
Price spread: +0.016% → +0.071%: −$5.47
Slippage, 4 orders: −$22.62
Fee Phemex: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $106.99
Costs to cover: 0.446%
Break-even: 2.2 days

Slippage from Phemex: live order book, 2 min ago; Coinbase International: 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 Phemex live order book, 2 min ago	1.62 bp	10.1 bp −$10	19.6 bp −$196	doesn't fit	doesn't fit
Sell Coinbase International live order book, 2 min ago	4.03 bp	12.9 bp −$13	15.6 bp −$156	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 −0.0132% / S +0.0329%	1h	62.042	+0.019%	$122K	—	200x	as long as short
Variational Omni LTC	−0.0043%	8h	61.828	−0.326%	$3.6M	$4.0M	—	as long as short
Kalshi KXLTCPERP	0.0000%	8h	62.009	−0.034%	$313K	$4.2M	4x	as long as short
gTrade (Gains Network) LTC/USD	L +0.0002% / S −0.0003%	1h	62.041	+0.018%	$31K	—	150x	as long as short
Polymarket Perps LTC-USD	+0.0027%	1h	61.986	−0.071%	$85K	$378K	10x	as long as short
Injective LTC/USDC PERP	+0.0033%	1h	58.730	−5.320%	$5K	$22K	12x	as long as short
Deribit LTC_USDC-PERPETUAL	+0.0072%	1h	62.063	+0.053%	$701K	$1.1M	50x	as long as short
Gate LTC_USDT	+0.0090%	8h	61.950	−0.129%	$13.0M	$21.3M	75x	as long as short
Orderly PERP_LTC_USDC	+0.0100%	8h	62.020	−0.016%	$12K	$213K	20x	as long as short
Paradex LTC-USD-PERP	+0.0100%	8h	61.926	−0.168%	$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	61.985	−0.073%	$264K	$323K	10x	as long as short
Hyperliquid LTC	+0.0100%	1h	62.031	+0.002%	$37.6M	$23.8M	10x	as long as short
Aster LTCUSDT	+0.0100%	8h	62.024	−0.009%	$2.7M	$2.3M	75x	as long as short
Pacifica LTC	+0.0100%	1h	61.973	−0.091%	$542K	$87K	10x	as long as short
Binance LTCUSDT	+0.0100%	8h	61.958	−0.116%	$96.0M	$223.2M	75x	as long as short
Bybit LTCUSDT	+0.0100%	8h	61.930	−0.161%	$78.5M	$59.7M	75x	as long as short
OKX LTC-USDT-SWAP	+0.0100%	8h	61.940	−0.145%	$27.7M	$75.4M	50x	as long as short
MEXC LTC_USDT	+0.0100%	8h	61.960	−0.113%	$61.5M	$34.2M	200x	as long as short
KuCoin LTCUSDTM	+0.0100%	8h	61.980	−0.081%	$19.1M	$12.6M	75x	as long as short
Bitget LTCUSDT	+0.0100%	8h	61.960	−0.113%	$32.1M	$22.1M	75x	as long as short
BingX LTC-USDC	+0.0100%	8h	61.950	−0.129%	—	$6.5M	—	as long as short
Backpack LTC_USDC_PERP	+0.0100%	1h	62.002	−0.045%	$159K	$267K	10x	as long as short
edgeX LTCUSDC	+0.0100%	4h	61.825	−0.331%	$42K	$356K	20x	as long as short
GRVT LTC_USDT_Perp	+0.0100%	8h	61.916	−0.183%	$350K	$1.9M	10x	as long as short
ApeX Omni LTCUSDT	+0.0100%	1h	61.840	−0.306%	$118K	$712K	50x	as long as short
SunX LTC-USDT	+0.0100%	8h	62.110	+0.129%	$17K	$4.1M	30x	as long as short
SoDEX LTC-USD	+0.0100%	1h	62.010	−0.032%	$639	$5K	10x	as long as short
HTX LTC-USDT	+0.0100%	8h	61.960	−0.113%	$1.9M	$4.8M	75x	as long as short
Phemex LTCUSDTlong	+0.0100%	8h	62.030	long leg	$22.2M	$9.1M	50x
Lighter LTC	+0.0104%	1h	62.034	+0.006%	$1.3M	$1.2M	10x	as long as short
Extended LTC-USD	+0.0104%	1h	61.924	−0.172%	$688K	$1.1M	25x	as long as short
Aevo LTC-PERP	+0.0104%	1h	62.019	−0.017%	$474K	$499	3x	as long as short
BloFin LTC-USDT	+0.0220%	8h	61.920	−0.177%	$4.9M	$11.8M	50x	as long as short
Reya LTCRUSDPERP	+0.0335%	1h	62.008	−0.036%	$8K	—	25x	as long as short
Kraken Futures PF_LTCUSD	+0.0433%	1h	62.045	+0.025%	$6.9M	$5.8M	50x	as long as short
dYdX LTC-USD	+0.0787%	1h	61.992	−0.061%	$436K	$8K	10x	as long as short
Coinbase International LTC-PERP-INTXshort	+0.0848%	1h	62.040	+0.016%	$1.2M	$2.3M	50x