Funding arb · Price arb /

LLY

RWAall LLY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0412%/8h= +45.1% APRpaid last 24h +0.034%

Price spread now: Phoenix against GRVT+0.109%7-day average — · you sell dearer than you buy

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

Long on GRVT Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropGRVT: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$12 a day on $10k at the current rate, and Phoenix is 0.109% dearer against GRVT than usual: you sell high and buy low: +$11 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT LLY_USDT_Perp	1,165.2	0	get 0.0000% / 8h	7h 47m	$233	$169K	10x
Short	Phoenix LLY	1,166.5	0.0412	get 0.0051% / 1h	47m 01s	$1K	$7K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against GRVT. 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 GRVTbpFee PhoenixbpOrdersPrice spread, now +0.109%Rate

Funding earned: $86.48
Price spread: +0.109% → 0.000%: $10.86
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $81.33
Costs to cover: 0.160%
Break-even: 0.4 days

Slippage unknown: GRVT: live order book, 46 min ago; Phoenix: 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 GRVT live order book, 46 min ago	3.13 bp	8.6 bp −$9	29314.3 bp −$293.1K	382940.4 bp −$38.29M	doesn't fit
Sell Phoenix no order-book sample	—	—	—	—	—

Phoenix: 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 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
Nado LLY-PERP	−0.0215%	1h	1,166.6	+0.113%	$39K	$251	10x	as long as short
tradeXYZ xyz:LLY	−0.0095%	1h	1,166.1	+0.074%	$8.7M	$1.1M	10x	as long as short
Aster LLYUSDT	0.0000%	8h	1,166	+0.067%	$24K	$3K	20x	as long as short
Binance LLYUSDT	0.0000%	8h	1,165.9	+0.057%	$2.0M	$3.2M	20x	as long as short
Bybit LLYUSDT	0.0000%	8h	1,166.6	+0.117%	$1.3M	$341K	25x	as long as short
OKX LLY-USDT-SWAP	0.0000%	8h	1,165.1	−0.012%	$795K	$570K	20x	as long as short
Gate LLY_USDT	0.0000%	8h	1,166	+0.069%	$1.3M	$637K	25x	as long as short
Bitget LLYUSDT	0.0000%	8h	1,165.9	+0.054%	$2.3M	$166K	20x	as long as short
Variational Omni LLY	0.0000%	8h	1,164.9	−0.029%	$193K	$19K	—	as long as short
GRVT LLY_USDT_Perplong	0.0000%	8h	1,165.2	long leg	$233	$169K	10x

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX LLY-USDT	0.0000%	8h	1,166.3	+0.091%	$2K	$5.6M	10x	as long as short
HTX LLY-USDT	0.0000%	8h	1,163.2	−0.172%	$6K	$41K	20x	as long as short
BloFin LLY-USDT	+0.0008%	8h	1,165.9	+0.060%	$84K	$86K	20x	as long as short
Aftermath Perps LLYUSD	+0.0022%	1h	1,165.6	+0.029%	$47K	$40K	5x	as long as short
QFEX LLY-USD	+0.0035%	1h	1,165.4	+0.014%	$1.2M	$3.0M	10x	as long as short
Vest LLY-USD-PERP	+0.0046%	1h	1,165.2	−0.006%	—	—	25x	as long as short
KuCoin LLYUSDTM	+0.0100%	8h	1,165.7	+0.040%	$136K	$93K	20x	as long as short
Injective LLY/USDC PERP	+0.0220%	1h	1,177.7	+1.070%	$7K	$24K	12x	as long as short
Phoenix LLYshort	+0.0412%	1h	1,166.5	+0.109%	$1K	$7K	10x