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 +0.012%

Price spread now: QFEX against OKX−0.028%7-day average +0.007% · 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−$70as in the Price arb table

costs, in and out, $10k−$670.667% of the position

Long on OKX Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.017%+$2 on $10k

Price spread, last 4 days (all we have)−0.041%−$4 · spread now −0.028%, 7d avg +0.007%

Together, before fees−0.024%−$2 on $10k · with fees, hour by hour

Funding pays, the price is against you. QFEX is 0.035% cheaper against OKX than usual: you would sell low and buy high (spread −0.028% now, against its 7-day average of +0.007%). If the spread goes back, that is −$3 on $10k: about 4.5 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX LLY-USDT-SWAP	1,163.3	0	get 0.0000% / 8h	6h 40m	$792K	$641K	20x
Short	QFEX LLY-USD	1,163	0.0026	get 0.0003% / 1h	40m 57s	$1.2M	$4.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against OKX. 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 OKXbpFee QFEXbpOrdersPrice spread, now −0.028%Rate

Funding earned: $5.46
Price spread: −0.028% → +0.007%: −$3.49
Slippage, 4 orders: −$46.67
Fee OKX: 5 bp × 2 orders: −$10
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$64.7
Costs to cover: 0.667%
Break-even: 89.9 days

Slippage from OKX: live order book, 25 min ago; QFEX: live order book, 8 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 OKX live order book, 25 min ago	3.44 bp	16.7 bp −$17	352.0 bp −$3,520	doesn't fit	doesn't fit
Sell QFEX live order book, 8 min ago	1.80 bp	9.1 bp −$9	15.4 bp −$154	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
Bybit LLYUSDT	0.0000%	8h	1,162.8	−0.046%	$1.3M	$581K	25x	as long as short
OKX LLY-USDT-SWAPlong	0.0000%	8h	1,163.3	long leg	$792K	$641K	20x
Gate LLY_USDT	0.0000%	8h	1,162.5	−0.071%	$1.3M	$900K	25x	as long as short
Bitget LLYUSDT	0.0000%	8h	1,163.2	−0.006%	$2.3M	$173K	20x	as long as short
GRVT LLY_USDT_Perp	0.0000%	8h	1,163.2	−0.010%	$221	$193K	10x	as long as short
SunX LLY-USDT	0.0000%	8h	1,162.9	−0.034%	$2K	$6.1M	10x	as long as short
HTX LLY-USDT	0.0000%	8h	1,160.5	−0.241%	$5K	$40K	20x	as long as short
Aftermath Perps LLYUSD	+0.0005%	1h	1,162.3	−0.084%	$47K	$41K	5x	as long as short
Aster LLYUSDT	+0.0015%	8h	1,163.2	−0.009%	$23K	$3K	20x	as long as short
Variational Omni LLY	+0.0024%	8h	1,162.8	−0.039%	$191K	$17K	—	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	+0.0026%	1h	1,163	−0.028%	$1.2M	$4.8M	10x
Vest LLY-USD-PERP	+0.0046%	1h	1,161.9	−0.122%	—	—	25x	as long as short
tradeXYZ xyz:LLY	+0.0058%	1h	1,162.7	−0.052%	$8.6M	$1.2M	10x	as long as short
KuCoin LLYUSDTM	+0.0100%	8h	1,163	−0.026%	$137K	$75K	20x	as long as short
BloFin LLY-USDT	+0.0129%	8h	1,162.8	−0.046%	$84K	$85K	20x	as long as short
Binance LLYUSDT	+0.0138%	8h	1,163.1	−0.021%	$2.0M	$3.1M	20x	as long as short
Injective LLY/USDC PERP	+0.0220%	1h	1,174.8	+0.989%	$7K	$24K	12x	as long as short
Phoenix LLY	+0.0275%	1h	1,163.4	+0.009%	$1K	$7K	10x	as long as short
Nado LLY-PERP	+0.0276%	1h	1,162.6	−0.062%	$39K	$251	10x	as long as short