Funding arb · Price arb /

LLY

RWAall LLY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0026%/8h= +2.8% APRpaid last 24h +0.003%

Price spread now: QFEX against Bybit+0.039%7-day average −0.044% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$60as in the Price arb table

costs, in and out, $10k−$680.679% of the position

Long on Bybit Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.001%$0 on $10k

Price spread, last 7 days−0.002%$0 · spread now +0.039%, 7d avg −0.044%

Together, before fees−0.003%$0 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and QFEX is 0.083% dearer against Bybit than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of −0.044%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit LLYUSDT	1,162.8	0	get 0.0000% / 8h	5h 58m	$1.3M	$581K	25x
Short	QFEX LLY-USD	1,163.2	0.0026	get 0.0003% / 1h	58m 56s	$1.2M	$4.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now +0.039%Rate

Funding earned: $5.46
Price spread: +0.039% → −0.044%: $8.31
Slippage, 4 orders: −$46.88
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$54.11
Costs to cover: 0.679%
Break-even: 76.4 days

Slippage from Bybit: live order book, 2 min ago; QFEX: live order book, 4 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 Bybit live order book, 2 min ago	6.66 bp	33.2 bp −$33	615.7 bp −$6,157	doesn't fit	doesn't fit
Sell QFEX live order book, 4 min ago	2.11 bp	7.9 bp −$8	14.8 bp −$148	doesn't fit	doesn't fit

LLY on 18 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
Bybit LLYUSDTlong	0.0000%	8h	1,162.8	long leg	$1.3M	$581K	25x
OKX LLY-USDT-SWAP	0.0000%	8h	1,163.3	+0.045%	$792K	$640K	20x	as long as short
Gate LLY_USDT	0.0000%	8h	1,163.4	+0.050%	$1.3M	$901K	25x	as long as short
Bitget LLYUSDT	0.0000%	8h	1,164	+0.108%	$2.3M	$176K	20x	as long as short
GRVT LLY_USDT_Perp	0.0000%	8h	1,163.7	+0.078%	$221	$190K	10x	as long as short
SunX LLY-USDT	0.0000%	8h	1,163.8	+0.088%	$2K	$6.0M	10x	as long as short
HTX LLY-USDT	0.0000%	8h	1,161.3	−0.126%	$6K	$40K	20x	as long as short
Aftermath Perps LLYUSD	+0.0021%	1h	1,163.5	+0.061%	$47K	$41K	5x	as long as short
Variational Omni LLY	+0.0022%	8h	1,163.7	+0.080%	$192K	$18K	—	as long as short
QFEX LLY-USDshort	+0.0026%	1h	1,163.2	+0.039%	$1.2M	$4.7M	10x

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest LLY-USD-PERP	+0.0046%	1h	1,162.8	+0.003%	—	—	25x	as long as short
Aster LLYUSDT	+0.0060%	8h	1,163.2	+0.039%	$23K	$3K	20x	as long as short
KuCoin LLYUSDTM	+0.0100%	8h	1,163.2	+0.036%	$137K	$76K	20x	as long as short
Binance LLYUSDT	+0.0157%	8h	1,164.2	+0.122%	$2.0M	$3.1M	20x	as long as short
Injective LLY/USDC PERP	+0.0220%	1h	1,176.1	+1.146%	$7K	$24K	12x	as long as short
Phoenix LLY	+0.0275%	1h	1,163.8	+0.088%	$1K	$7K	10x	as long as short
Nado LLY-PERP	+0.0318%	1h	1,162.5	−0.026%	$39K	$251	10x	as long as short
tradeXYZ xyz:LLY	+0.0411%	1h	1,164.1	+0.114%	$8.7M	$1.2M	10x	as long as short