We construct an invariant of the bi-Lipschitz equivalence of analytic function germs (ℝⁿ,0) → (ℝ,0) that varies continuously in many analytic families. This shows that the bi-Lipschitz equivalence of analytic function germs admits continuous moduli. For a germ f the invariant is given in terms of the leading coefficients of the asymptotic expansions of f along the sets where the size of |x| |grad f(x)| is comparable to the size of |f(x)|.