LIT arbitrage explained
Right now Lighter (LIT) trades on 10 venues we scan: 10 perpetual markets, 6 spot markets and 0 DEX pools. The lowest ask is on Bybit perp at $3.67 and the highest bid on HTX perp at $3.67.
The widest LIT perpetual spread is between Bybit and HTX: long LIT on Bybit at $3.67 and short on HTX at $3.67 for +0.21% gross, or +0.05% after the 0.16% two-leg fee model. No transfer is needed: both positions stay on their exchanges until the prices converge. The funding difference on this pair is -0.015% per day, which the position pays while it is open.
For a spot–perpetual (cash-and-carry) trade, the best LIT route is to buy spot on Bybit and short the perpetual on HTX: +0.18% gross, -0.02% net, with +0.015% a day of funding on the short leg.
Spot–spot LIT arbitrage (buy on Bybit, withdraw, deposit and sell on Bitget) shows +0.03% gross right now. It only works if withdrawals on the buying exchange and deposits on the selling exchange are open, so check the D/W dots before moving coins.
Small LIT gaps usually disappear after fees, slippage and funding. Look at the Net column, the executable Depth and the spread history before trading: a gap that has been open for days is a different trade from a one-minute spike.
Related: LIT funding rates · LIT spread charts · Lighter price · arbitrage scanner for all coins.