Funding arb · Price arb /

LLY

RWAall LLY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0065%/8h= −7.1% APRpaid last 24h −0.018%

Price spread now: QFEX against KuCoin−0.014%7-day average +0.012% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$1,143as in the Price arb table

costs, in and out, $10k−$1,14011.402% of the position

Long on KuCoin Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.090%−$9 on $10k

Price spread, last 4 days (all we have)−0.067%−$7 · spread now −0.014%, 7d avg +0.012%

Together, before fees−0.158%−$16 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and QFEX is 0.025% cheaper against KuCoin than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.012%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin LLYUSDTM	1,163.3	0.0100	pay 0.0100% / 8h	4h 38m	$137K	$73K	20x
Short	QFEX LLY-USD	1,163.1	0.0035	get 0.0004% / 1h	38m 06s	$1.2M	$4.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against KuCoin. 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 KuCoinbpFee QFEXbpOrdersPrice spread, now −0.014%Rate

Funding earned: −$13.62
Price spread: −0.014% → +0.012%: −$2.55
Slippage, 4 orders: −$1,118.18
Fee KuCoin: 6 bp × 2 orders: −$12
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$1,156.36
Costs to cover: 11.402%
Break-even: never at this rate

Slippage from KuCoin: live order book, 36 min ago; QFEX: live order book, 10 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 KuCoin live order book, 36 min ago	12.91 bp	485.1 bp −$485	doesn't fit	doesn't fit	doesn't fit
Sell QFEX live order book, 10 min ago	1.85 bp	7.1 bp −$7	14.6 bp −$146	doesn't fit	doesn't fit

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
Aster LLYUSDT	0.0000%	8h	1,163.4	+0.006%	$24K	$3K	20x	as long as short
Bybit LLYUSDT	0.0000%	8h	1,162.7	−0.052%	$1.3M	$577K	25x	as long as short
OKX LLY-USDT-SWAP	0.0000%	8h	1,163.3	0.000%	$791K	$645K	20x	as long as short
Gate LLY_USDT	0.0000%	8h	1,162.7	−0.048%	$1.3M	$879K	25x	as long as short
Bitget LLYUSDT	0.0000%	8h	1,163.5	+0.019%	$2.3M	$169K	20x	as long as short
Variational Omni LLY	0.0000%	8h	1,163	−0.024%	$192K	$18K	—	as long as short
GRVT LLY_USDT_Perp	0.0000%	8h	1,163.1	−0.015%	$233	$186K	10x	as long as short
SunX LLY-USDT	0.0000%	8h	1,163.2	−0.009%	$2K	$5.9M	10x	as long as short
HTX LLY-USDT	0.0000%	8h	1,162.2	−0.094%	$5K	$40K	20x	as long as short
Aftermath Perps LLYUSD	+0.0014%	1h	1,163.3	0.000%	$47K	$41K	5x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX LLY-USDshort	+0.0035%	1h	1,163.1	−0.014%	$1.2M	$4.3M	10x
Binance LLYUSDT	+0.0036%	8h	1,163.1	−0.016%	$2.0M	$3.1M	20x	as long as short
Vest LLY-USD-PERP	+0.0046%	1h	1,162.4	−0.077%	—	—	25x	as long as short
tradeXYZ xyz:LLY	+0.0050%	1h	1,163.1	−0.017%	$8.7M	$1.2M	10x	as long as short
BloFin LLY-USDT	+0.0053%	8h	1,163.6	+0.021%	$84K	$85K	20x	as long as short
Nado LLY-PERP	+0.0094%	1h	1,162.5	−0.066%	$39K	$251	10x	as long as short
KuCoin LLYUSDTMlong	+0.0100%	8h	1,163.3	long leg	$137K	$73K	20x
Injective LLY/USDC PERP	+0.0220%	1h	1,175.6	+1.057%	$7K	$24K	12x	as long as short
Phoenix LLY	+0.0275%	1h	1,162.9	−0.034%	$1K	$7K	10x	as long as short