Funding arb · Price arb /

LLY

RWAall LLY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0090%/8h= +9.9% APRpaid last 24h +0.064%

Price spread now: Injective against Bybit+1.183%58s7-day average — · you sell dearer than you buy

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

Long on Bybit Short on Injective

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Injective is 1.183% dearer against Bybit than usual: you sell high and buy low: +$118 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 58 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit LLYUSDT	1,146.4	−0.0057	get 0.0057% / 8h	4h 50m	$1.4M	$576K	25x
Short	Injective LLY/USDC PERP	1,160	0.0033	get 0.0004% / 1h	50m 18s	$20K	$37K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Bybit. 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 BybitbpFee InjectivebpOrdersPrice spread, now +1.183%Rate

Funding earned: $18.99
Price spread: +1.183% → 0.000%: $118.28
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $126.25
Costs to cover: 0.110%
Break-even: from the start

Slippage unknown: Bybit: live order book, 4 min ago; Injective: no order-book sample. 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 Bybit live order book, 4 min ago	1.59 bp	49.2 bp −$49	695.8 bp −$6,958	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

LLY on 19 exchanges

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
Bybit LLYUSDTlong	−0.0057%	8h	1,146.4	long leg	$1.4M	$576K	25x
Aftermath Perps LLYUSD	−0.0018%	1h	1,155.6	+0.796%	$47K	$51K	5x	as long as short
Aster LLYUSDT	0.0000%	8h	1,148.2	+0.151%	$23K	$3K	20x	as long as short
Binance LLYUSDT	0.0000%	8h	1,148.5	+0.175%	$2.0M	$3.8M	20x	as long as short
OKX LLY-USDT-SWAP	0.0000%	8h	1,146.3	−0.012%	$817K	$567K	20x	as long as short
Gate LLY_USDT	0.0000%	8h	1,146.1	−0.031%	$1.3M	$634K	25x	as long as short
Bitget LLYUSDT	0.0000%	8h	1,148.5	+0.179%	$2.3M	$317K	20x	as long as short
Variational Omni LLY	0.0000%	8h	1,148.4	+0.172%	$188K	$21K	—	as long as short
GRVT LLY_USDT_Perp	0.0000%	8h	1,161.9	+1.353%	$221	$150K	10x	as long as short
SunX LLY-USDT	0.0000%	8h	1,149.2	+0.241%	$1K	$4.5M	10x	as long as short

Show all 19 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX LLY-USDT	0.0000%	8h	1,161.8	+1.338%	$6K	$42K	20x	as long as short
BloFin LLY-USDT	+0.0006%	8h	1,149.2	+0.236%	$86K	$86K	20x	as long as short
QFEX LLY-USD	+0.0013%	1h	1,147.4	+0.084%	$1.2M	$3.2M	10x	as long as short
KuCoin LLYUSDTM	+0.0027%	8h	1,147.3	+0.075%	$145K	$287K	20x	as long as short
Injective LLY/USDC PERPshort	+0.0033%	1h	1,160	+1.183%	$20K	$37K	12x
Vest LLY-USD-PERP	+0.0046%	1h	1,146.6	+0.010%	—	—	25x	as long as short
tradeXYZ xyz:LLY	+0.0050%	1h	1,146.5	+0.005%	$8.7M	$1.3M	10x	as long as short
Phoenix LLY	+0.0069%	1h	1,163.2	+1.462%	$1K	$9K	10x	as long as short
Nado LLY-PERP	+0.0097%	1h	1,146.9	+0.039%	$38K	$251	10x	as long as short