Funding arb · Price arb /

LTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0157%/8h= +17.2% APRpaid last 24h +0.166%

Price spread now: dYdX against Phemex−0.124%7-day average −0.045% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$138as in the Price arb table

costs, in and out, $10k−$1301.305% of the position

Long on Phemex Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.833%+$83 on $10k

Price spread, last 4 days (all we have)+0.124%+$12 · spread now −0.124%, 7d avg −0.045%

Together, before fees+0.956%+$96 on $10k · with fees, hour by hour

Funding pays, the price is against you. dYdX is 0.079% cheaper against Phemex than usual: you would sell low and buy high (spread −0.124% now, against its 7-day average of −0.045%). If the spread goes back, that is −$8 on $10k: about 40 hours of funding at the current rate (+$5 a day). At the pace of the last 7 days (+0.833% in total) that is about 16 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex LTCUSDT	60.470	0.0100	pay 0.0100% / 8h	5h 03m	$21.5M	$8.8M	50x
Short	dYdX LTC-USD	60.395	0.0257	get 0.0032% / 1h	3m 33s	$424K	$8K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now −0.124%Rate

Funding earned: $32.95
Price spread: −0.124% → −0.045%: −$7.91
Slippage, 4 orders: −$108.47
Fee Phemex: 6 bp × 2 orders: −$12
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$105.43
Costs to cover: 1.305%
Break-even: 29.4 days

Slippage from Phemex: live order book, 5 min ago; dYdX: live order book, 61 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, 5 min ago	1.64 bp	9.4 bp −$9	19.7 bp −$197	doesn't fit	doesn't fit
Sell dYdX live order book, 61 min ago	17.13 bp	22.1 bp −$22	123.3 bp −$1,233	139.4 bp −$13.9K	208.8 bp −$104.4K

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 −0.0289% / S +0.0411%	1h	60.453	−0.027%	$110K	—	200x	as long as short
Polymarket Perps LTC-USD	−0.0169%	1h	60.385	−0.141%	$79K	$390K	10x	as long as short
Kalshi KXLTCPERP	0.0000%	8h	60.493	+0.038%	$315K	$4.3M	4x	as long as short
Deribit LTC_USDC-PERPETUAL	0.0000%	1h	60.479	+0.015%	$686K	$1.1M	50x	as long as short
gTrade (Gains Network) LTC/USD	L +0.0002% / S −0.0003%	1h	60.455	−0.024%	$30K	—	150x	as long as short
Variational Omni LTC	+0.0011%	8h	60.483	+0.022%	$3.6M	$2.6M	—	as long as short
Injective LTC/USDC PERP	+0.0033%	1h	58.730	−2.877%	$5K	$22K	12x	as long as short
Lighter LTC	+0.0096%	1h	60.452	−0.030%	$1.3M	$1.2M	10x	as long as short
Orderly PERP_LTC_USDC	+0.0099%	8h	60.420	−0.083%	$13K	$197K	20x	as long as short
Paradex LTC-USD-PERP	+0.0100%	8h	60.365	−0.174%	$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	60.455	−0.025%	$264K	$327K	10x	as long as short
Hyperliquid LTC	+0.0100%	1h	60.450	−0.033%	$36.8M	$24.7M	10x	as long as short
Aster LTCUSDT	+0.0100%	8h	60.434	−0.060%	$2.6M	$2.5M	75x	as long as short
Pacifica LTC	+0.0100%	1h	60.416	−0.089%	$528K	$83K	10x	as long as short
Binance LTCUSDT	+0.0100%	8h	60.410	−0.099%	$90.4M	$226.9M	75x	as long as short
Bybit LTCUSDT	+0.0100%	8h	60.420	−0.083%	$76.4M	$59.6M	75x	as long as short
OKX LTC-USDT-SWAP	+0.0100%	8h	60.410	−0.099%	$26.7M	$74.4M	50x	as long as short
Gate LTC_USDT	+0.0100%	8h	60.400	−0.116%	$12.5M	$21.6M	75x	as long as short
MEXC LTC_USDT	+0.0100%	8h	60.410	−0.099%	$57.2M	$35.1M	200x	as long as short
KuCoin LTCUSDTM	+0.0100%	8h	60.420	−0.083%	$18.2M	$12.8M	75x	as long as short
Bitget LTCUSDT	+0.0100%	8h	60.420	−0.083%	$32.3M	$22.4M	75x	as long as short
BingX LTC-USDT	+0.0100%	8h	60.410	−0.099%	—	$38.2M	—	as long as short
Backpack LTC_USDC_PERP	+0.0100%	1h	60.434	−0.060%	$152K	$277K	10x	as long as short
edgeX LTCUSDC	+0.0100%	4h	60.436	−0.057%	$41K	$375K	20x	as long as short
GRVT LTC_USDT_Perp	+0.0100%	8h	60.445	−0.042%	$335K	$1.9M	10x	as long as short
ApeX Omni LTCUSDT	+0.0100%	1h	60.450	−0.033%	$101K	$715K	50x	as long as short
SunX LTC-USDT	+0.0100%	8h	60.520	+0.083%	$17K	$3.9M	30x	as long as short
SoDEX LTC-USD	+0.0100%	1h	60.460	−0.017%	$162	$5K	10x	as long as short
HTX LTC-USDT	+0.0100%	8h	60.400	−0.116%	$2.0M	$4.9M	75x	as long as short
Phemex LTCUSDTlong	+0.0100%	8h	60.470	long leg	$21.5M	$8.8M	50x
Extended LTC-USD	+0.0104%	1h	60.390	−0.133%	$671K	$1.1M	25x	as long as short
Aevo LTC-PERP	+0.0104%	1h	60.435	−0.058%	$461K	—	3x	as long as short
BloFin LTC-USDT	+0.0220%	8h	60.380	−0.149%	$4.7M	$12.1M	50x	as long as short
dYdX LTC-USDshort	+0.0257%	1h	60.395	−0.124%	$424K	$8K	10x
Reya LTCRUSDPERP	+0.0336%	1h	60.425	−0.074%	$8K	—	25x	as long as short
Kraken Futures PF_LTCUSD	+0.0352%	1h	60.483	+0.021%	$6.7M	$6.2M	50x	as long as short
Coinbase International LTC-PERP-INTX	+0.0832%	1h	60.630	+0.265%	$1.1M	$2.3M	50x	as long as short