Funding arb · Price arb /

LTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0154%/8h= +16.9% APRpaid last 24h +0.005%

Price spread now: Deribit against Phemex+0.005%7-day average −0.009% · you sell dearer than you buy

Net, funding: paid 7d − costs−$48as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$340.337% of the position

Long on Phemex Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.146%−$15 on $10k

Price spread, last 3 days (all we have)−0.031%−$3 · spread now +0.005%, 7d avg −0.009%

Together, before fees−0.178%−$18 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.009%, so right now this pair is about funding alone: +$5 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.146%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex LTCUSDT	61.590	0.0100	pay 0.0100% / 8h	1h 15m	$22.0M	$9.1M	50x
Short	Deribit LTC_USDC-PERPETUAL	61.593	0.0254	get 0.0032% / 1h	15m 07s	$694K	$1.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.005%Rate

Funding earned: $32.34
Price spread: +0.005% → −0.009%: $1.42
Slippage, 4 orders: −$14.68
Fee Phemex: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $0.07
Costs to cover: 0.337%
Break-even: 7.0 days

Slippage from Phemex: live order book, 4 min ago; Deribit: live order book, 4 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, 4 min ago	1.62 bp	10.0 bp −$10	20.4 bp −$204	doesn't fit	doesn't fit
Sell Deribit live order book, 4 min ago	2.44 bp	7.5 bp −$8	11.9 bp −$119	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 −0.0074% / S +0.0277%	1h	61.556	−0.055%	$112K	—	200x	as long as short
Variational Omni LTC	−0.0062%	8h	61.507	−0.134%	$3.6M	$4.0M	—	as long as short
Kalshi KXLTCPERP	0.0000%	8h	61.568	−0.036%	$339K	$4.1M	4x	as long as short
gTrade (Gains Network) LTC/USD	L +0.0002% / S −0.0003%	1h	61.558	−0.053%	$30K	—	150x	as long as short
Injective LTC/USDC PERP	+0.0033%	1h	58.730	−4.644%	$5K	$22K	12x	as long as short
Gate LTC_USDT	+0.0045%	8h	61.590	0.000%	$12.9M	$21.2M	75x	as long as short
Polymarket Perps LTC-USD	+0.0072%	1h	61.522	−0.110%	$85K	$378K	10x	as long as short
Kraken Futures PF_LTCUSD	+0.0087%	1h	61.621	+0.050%	$6.8M	$5.8M	50x	as long as short
Orderly PERP_LTC_USDC	+0.0100%	8h	61.560	−0.049%	$12K	$213K	20x	as long as short
Paradex LTC-USD-PERP	+0.0100%	8h	61.536	−0.088%	$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	61.545	−0.073%	$253K	$321K	10x	as long as short
Hyperliquid LTC	+0.0100%	1h	61.626	+0.058%	$37.4M	$23.8M	10x	as long as short
Aster LTCUSDT	+0.0100%	8h	61.645	+0.090%	$2.6M	$2.2M	75x	as long as short
Pacifica LTC	+0.0100%	1h	61.560	−0.048%	$539K	$84K	10x	as long as short
Binance LTCUSDT	+0.0100%	8h	61.600	+0.017%	$95.4M	$222.5M	75x	as long as short
Bybit LTCUSDT	+0.0100%	8h	61.580	−0.016%	$78.1M	$59.7M	75x	as long as short
OKX LTC-USDT-SWAP	+0.0100%	8h	61.590	0.000%	$27.5M	$74.7M	50x	as long as short
MEXC LTC_USDT	+0.0100%	8h	61.590	0.000%	$61.7M	$34.8M	200x	as long as short
KuCoin LTCUSDTM	+0.0100%	8h	61.600	+0.016%	$19.0M	$12.6M	75x	as long as short
Bitget LTCUSDT	+0.0100%	8h	61.580	−0.016%	$32.0M	$22.0M	75x	as long as short
BingX LTC-USDT	+0.0100%	8h	61.580	−0.016%	—	$37.5M	—	as long as short
Backpack LTC_USDC_PERP	+0.0100%	1h	61.569	−0.034%	$158K	$266K	10x	as long as short
edgeX LTCUSDC	+0.0100%	4h	61.529	−0.100%	$42K	$357K	20x	as long as short
GRVT LTC_USDT_Perp	+0.0100%	8h	61.530	−0.097%	$351K	$2.0M	10x	as long as short
ApeX Omni LTCUSDT	+0.0100%	1h	61.550	−0.065%	$103K	$708K	50x	as long as short
SunX LTC-USDT	+0.0100%	8h	61.630	+0.065%	$17K	$4.2M	30x	as long as short
SoDEX LTC-USD	+0.0100%	1h	61.580	−0.016%	$634	$5K	10x	as long as short
HTX LTC-USDT	+0.0100%	8h	61.540	−0.081%	$1.9M	$4.8M	75x	as long as short
Phemex LTCUSDTlong	+0.0100%	8h	61.590	long leg	$22.0M	$9.1M	50x
Lighter LTC	+0.0104%	1h	61.658	+0.110%	$1.3M	$1.2M	10x	as long as short
Extended LTC-USD	+0.0104%	1h	61.542	−0.077%	$685K	$1.1M	25x	as long as short
Aevo LTC-PERP	+0.0104%	1h	61.566	−0.038%	$470K	$499	3x	as long as short
BloFin LTC-USDT	+0.0220%	8h	61.560	−0.049%	$4.8M	$11.7M	50x	as long as short
Deribit LTC_USDC-PERPETUALshort	+0.0254%	1h	61.593	+0.005%	$694K	$1.1M	50x
Reya LTCRUSDPERP	+0.0334%	1h	61.552	−0.061%	$8K	—	25x	as long as short
Coinbase International LTC-PERP-INTX	+0.0760%	1h	61.780	+0.308%	$1.2M	$2.2M	50x	as long as short
dYdX LTC-USD	+0.0960%	1h	61.549	−0.067%	$433K	$8K	10x	as long as short