Funding arb · Price arb /

LLY

RWAall LLY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0220%/8h= −24.1% APRpaid last 24h −0.057%

Price spread now: Bybit against Injective−1.086%7-day average — · you buy dearer than you sell

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

Long on Injective Short on Bybit

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 against this trade now: funding costs −$7 a day on $10k at the current rate, and Bybit is 1.086% cheaper against Injective than usual: you would sell low and buy high (−$109 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective LLY/USDC PERP	1,178.3	0.0220	pay 0.0028% / 1h	59m 25s	$10K	$21K	12x
Short	Bybit LLYUSDT	1,165.5	0	get 0.0000% / 8h	7h 59m	$1.3M	$633K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Injective. 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 InjectivebpFee BybitbpOrdersPrice spread, now −1.086%Rate

Funding earned: −$46.2
Price spread: −1.086% → 0.000%: −$108.63
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$165.85
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; Bybit: live order book, 6 min ago. 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 Injective no order-book sample	—	—	—	—	—
Sell Bybit live order book, 6 min ago	4.16 bp	19.1 bp −$19	doesn't fit	doesn't fit	doesn't fit

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 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 LLYUSDTshort	0.0000%	8h	1,165.5	−1.086%	$1.3M	$633K	25x
OKX LLY-USDT-SWAP	0.0000%	8h	1,165.6	−1.078%	$819K	$573K	20x	as long as short
Gate LLY_USDT	0.0000%	8h	1,166.1	−1.035%	$1.3M	$894K	25x	as long as short
Bitget LLYUSDT	0.0000%	8h	1,166.2	−1.027%	$2.3M	$179K	20x	as long as short
SunX LLY-USDT	0.0000%	8h	1,165.5	−1.086%	$2K	$6.4M	10x	as long as short
HTX LLY-USDT	0.0000%	8h	1,164.7	−1.158%	$5K	$41K	20x	as long as short
Aftermath Perps LLYUSD	+0.0006%	1h	1,166.4	−1.010%	$47K	$42K	5x	as long as short
QFEX LLY-USD	+0.0023%	1h	1,176.4	−0.161%	$1.2M	$5.2M	10x	as long as short
tradeXYZ xyz:LLY	+0.0039%	1h	1,166.2	−1.027%	$8.6M	$1.1M	10x	as long as short
Vest LLY-USD-PERP	+0.0046%	1h	1,168.5	−0.833%	—	—	25x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin LLYUSDTM	+0.0100%	8h	1,166.7	−0.984%	$138K	$77K	20x	as long as short
Aster LLYUSDT	+0.0169%	8h	1,167.9	−0.879%	$24K	$3K	20x	as long as short
Variational Omni LLY	+0.0180%	8h	1,166.6	−0.993%	$191K	$17K	—	as long as short
Injective LLY/USDC PERPlong	+0.0220%	1h	1,178.3	long leg	$10K	$21K	12x
BloFin LLY-USDT	+0.0332%	8h	1,166.7	−0.982%	$84K	$84K	20x	as long as short
Binance LLYUSDT	+0.0342%	8h	1,165.6	−1.077%	$2.0M	$3.1M	20x	as long as short
Phoenix LLY	+0.0343%	1h	1,166.8	−0.976%	$1K	$7K	10x	as long as short
Nado LLY-PERP	+0.0378%	1h	1,164.5	−1.168%	$39K	$251	10x	as long as short
GRVT LLY_USDT_Perp	+0.0466%	8h	1,166.7	−0.987%	$222	$203K	10x	as long as short