Funding arb · Price arb /

LLY

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0120%/8h= −13.1% APRpaid last 24h −0.036%

Price spread now: KuCoin against Injective−1.130%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 KuCoin

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 −$4 a day on $10k at the current rate, and KuCoin is 1.130% cheaper against Injective than usual: you would sell low and buy high (−$113 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	1,176.6	0.0220	pay 0.0028% / 1h	26m 43s	$7K	$24K	12x
Short	KuCoin LLYUSDTM	1,163.3	0.0100	get 0.0100% / 8h	7h 26m	$137K	$75K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −1.130%Rate

Funding earned: −$25.2
Price spread: −1.130% → 0.000%: −$113.04
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$150.26
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; KuCoin: live order book, 17 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 KuCoin live order book, 17 min ago	13.31 bp	667.2 bp −$667	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 LLYUSDT	0.0000%	8h	1,162.9	−1.162%	$1.3M	$581K	25x	as long as short
OKX LLY-USDT-SWAP	0.0000%	8h	1,163	−1.156%	$813K	$577K	20x	as long as short
Gate LLY_USDT	0.0000%	8h	1,163	−1.153%	$1.3M	$898K	25x	as long as short
Bitget LLYUSDT	0.0000%	8h	1,164	−1.071%	$2.3M	$173K	20x	as long as short
GRVT LLY_USDT_Perp	0.0000%	8h	1,164.4	−1.040%	$221	$198K	10x	as long as short
SunX LLY-USDT	0.0000%	8h	1,162.7	−1.181%	$1K	$6.2M	10x	as long as short
HTX LLY-USDT	0.0000%	8h	1,162.1	−1.235%	$5K	$40K	20x	as long as short
QFEX LLY-USD	+0.0004%	1h	1,162.7	−1.181%	$1.2M	$5.1M	10x	as long as short
Aftermath Perps LLYUSD	+0.0010%	1h	1,163.9	−1.079%	$47K	$42K	5x	as long as short
Vest LLY-USD-PERP	+0.0046%	1h	1,161.6	−1.276%	—	—	25x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:LLY	+0.0054%	1h	1,163	−1.156%	$8.6M	$1.1M	10x	as long as short
Nado LLY-PERP	+0.0087%	1h	1,164	−1.069%	$39K	$251	10x	as long as short
Aster LLYUSDT	+0.0098%	8h	1,163.6	−1.105%	$24K	$3K	20x	as long as short
KuCoin LLYUSDTMshort	+0.0100%	8h	1,163.3	−1.130%	$137K	$75K	20x
Variational Omni LLY	+0.0125%	8h	1,164.7	−1.015%	$191K	$17K	—	as long as short
Phoenix LLY	+0.0206%	1h	1,164.6	−1.020%	$1K	$7K	10x	as long as short
Injective LLY/USDC PERPlong	+0.0220%	1h	1,176.6	long leg	$7K	$24K	12x
Binance LLYUSDT	+0.0247%	8h	1,162.9	−1.166%	$2.0M	$3.1M	20x	as long as short
BloFin LLY-USDT	+0.0261%	8h	1,162.9	−1.164%	$84K	$85K	20x	as long as short