Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.005%

Price spread now: Backpack against SunX−0.010%7-day average −0.168% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on SunX Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.081%−$8 on $10k

Price spread, last 4 days (all we have)−0.165%−$16 · spread now −0.010%, 7d avg −0.168%

Together, before fees−0.246%−$25 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Backpack is 0.159% dearer against SunX than usual: you sell high and buy low, +$16 on $10k if it goes back to its 7-day average of −0.168%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX LTC-USDT	60.840	0.0100	pay 0.0100% / 8h	2h 22m	$18K	$3.9M	30x
Short	Backpack LTC_USDC_PERP	60.834	0.0100	get 0.0013% / 1h	22m 01s	$145K	$270K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against SunX. 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 SunXbpFee BackpackbpOrdersPrice spread, now −0.010%Rate

Funding earned: $0
Price spread: −0.010% → −0.168%: $15.85
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$2.15
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 6 min ago; Backpack: live order book, 26 min ago. Net counts fees only.

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 SunX live order book, 6 min ago	501.24 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Backpack live order book, 26 min ago	0.08 bp	6.0 bp −$6	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 −0.0229% / S +0.0381%	1h	60.762	−0.129%	$96K	—	200x	as long as short
Polymarket Perps LTC-USD	−0.0144%	1h	60.711	−0.212%	$86K	$666K	10x	as long as short
Kalshi KXLTCPERP	0.0000%	8h	60.735	−0.173%	$333K	$4.3M	4x	as long as short
gTrade (Gains Network) LTC/USD	L +0.0002% / S −0.0002%	1h	60.760	−0.131%	$25K	—	150x	as long as short
Kraken Futures PF_LTCUSD	+0.0012%	1h	60.838	−0.003%	$6.6M	$6.5M	50x	as long as short
Variational Omni LTC	+0.0028%	8h	60.405	−0.715%	$3.5M	$2.6M	—	as long as short
Injective LTC/USDC PERP	+0.0033%	1h	58.730	−3.468%	$5K	$22K	12x	as long as short
Lighter LTC	+0.0096%	1h	60.835	−0.008%	$934K	$1.7M	10x	as long as short
Orderly PERP_LTC_USDC	+0.0099%	8h	60.780	−0.099%	$13K	$136K	20x	as long as short
Paradex LTC-USD-PERP	+0.0100%	8h	60.669	−0.280%	$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	60.745	−0.156%	$264K	$333K	10x	as long as short
Aster LTCUSDT	+0.0100%	8h	60.837	−0.005%	$2.5M	$2.5M	75x	as long as short
Pacifica LTC	+0.0100%	1h	60.683	−0.259%	$530K	$83K	10x	as long as short
Binance LTCUSDT	+0.0100%	8h	60.837	−0.005%	$89.4M	$233.5M	75x	as long as short
Bybit LTCUSDT	+0.0100%	8h	60.820	−0.033%	$77.0M	$61.6M	75x	as long as short
OKX LTC-USDT-SWAP	+0.0100%	8h	60.840	0.000%	$26.8M	$76.3M	50x	as long as short
Gate LTC_USDT	+0.0100%	8h	60.820	−0.033%	$13.2M	$22.2M	75x	as long as short
MEXC LTC_USDT	+0.0100%	8h	60.800	−0.066%	$56.2M	$36.2M	200x	as long as short
KuCoin LTCUSDTM	+0.0100%	8h	60.820	−0.033%	$17.9M	$13.1M	75x	as long as short
Bitget LTCUSDT	+0.0100%	8h	60.850	+0.016%	$31.2M	$22.8M	75x	as long as short
BingX LTC-USDC	+0.0100%	8h	60.830	−0.016%	—	$6.5M	—	as long as short
Backpack LTC_USDC_PERPshort	+0.0100%	1h	60.834	−0.010%	$145K	$270K	10x
edgeX LTCUSDC	+0.0100%	4h	60.404	−0.717%	$41K	$374K	20x	as long as short
GRVT LTC_USDT_Perp	+0.0100%	8h	60.617	−0.366%	$341K	$2.0M	10x	as long as short
ApeX Omni LTCUSDT	+0.0100%	1h	60.420	−0.690%	$106K	$715K	50x	as long as short
SunX LTC-USDTlong	+0.0100%	8h	60.840	long leg	$18K	$3.9M	30x
SoDEX LTC-USD	+0.0100%	1h	60.810	−0.049%	$163	$5K	10x	as long as short
HTX LTC-USDT	+0.0100%	8h	60.730	−0.181%	$2.0M	$5.0M	75x	as long as short
Phemex LTCUSDT	+0.0100%	8h	60.830	−0.016%	$21.5M	$9.0M	50x	as long as short
Extended LTC-USD	+0.0104%	1h	60.788	−0.085%	$672K	$1.1M	25x	as long as short
Aevo LTC-PERP	+0.0104%	1h	60.805	−0.058%	$464K	—	3x	as long as short
BloFin LTC-USDT	+0.0220%	8h	60.620	−0.362%	$4.1M	$12.4M	50x	as long as short
Deribit LTC_USDC-PERPETUAL	+0.0227%	1h	60.842	+0.003%	$688K	$1.1M	50x	as long as short
Hyperliquid LTC	+0.0241%	1h	60.898	+0.095%	$38.1M	$26.2M	10x	as long as short
Reya LTCRUSDPERP	+0.0337%	1h	60.736	−0.171%	$8K	—	25x	as long as short
dYdX LTC-USD	+0.0364%	1h	60.688	−0.250%	$427K	$7K	10x	as long as short
Coinbase International LTC-PERP-INTX	+0.0728%	1h	60.680	−0.263%	$1.1M	$2.5M	50x	as long as short