Funding arb · Price arb /

LLY

RWAall LLY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0233%/8h= −25.5% APRpaid last 24h −0.016%

Price spread now: Binance against Phoenix−0.010%7-day average — · you buy dearer than you sell

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

Long on Phoenix Short on Binance

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—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$7 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix LLY	1,163.3	0.0275	pay 0.0034% / 1h	43m 19s	$1K	$7K	10x
Short	Binance LLYUSDT	1,163.2	0.0042	get 0.0042% / 8h	4h 43m	$2.0M	$3.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Phoenix. 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 PhoenixbpFee BinancebpOrdersPrice spread, now −0.010%Rate

Funding earned: −$48.93
Price spread: −0.010% → 0.000%: −$1.03
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Binance: 5 bp × 2 orders: −$10
Net: −$66.96
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Phoenix: no order-book sample; Binance: live order book, 7 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 Phoenix no order-book sample	—	—	—	—	—
Sell Binance live order book, 7 min ago	2.02 bp	14.3 bp −$14	34.0 bp −$340	doesn't fit	doesn't fit

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
Aster LLYUSDT	0.0000%	8h	1,163.3	−0.002%	$23K	$3K	20x	as long as short
Bybit LLYUSDT	0.0000%	8h	1,162.8	−0.047%	$1.3M	$581K	25x	as long as short
OKX LLY-USDT-SWAP	0.0000%	8h	1,163.1	−0.017%	$791K	$645K	20x	as long as short
Gate LLY_USDT	0.0000%	8h	1,163	−0.030%	$1.3M	$879K	25x	as long as short
Bitget LLYUSDT	0.0000%	8h	1,163.7	+0.031%	$2.3M	$169K	20x	as long as short
Variational Omni LLY	0.0000%	8h	1,163.3	0.000%	$192K	$18K	—	as long as short
GRVT LLY_USDT_Perp	0.0000%	8h	1,163.2	−0.010%	$244	$187K	10x	as long as short
SunX LLY-USDT	0.0000%	8h	1,163.3	0.000%	$2K	$5.9M	10x	as long as short
HTX LLY-USDT	0.0000%	8h	1,162.4	−0.082%	$5K	$40K	20x	as long as short
Aftermath Perps LLYUSD	+0.0012%	1h	1,162.9	−0.032%	$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-USD	+0.0035%	1h	1,163.3	+0.002%	$1.2M	$4.4M	10x	as long as short
Binance LLYUSDTshort	+0.0042%	8h	1,163.2	−0.010%	$2.0M	$3.1M	20x
Vest LLY-USD-PERP	+0.0046%	1h	1,162.4	−0.077%	—	—	25x	as long as short
tradeXYZ xyz:LLY	+0.0050%	1h	1,162.9	−0.034%	$8.7M	$1.2M	10x	as long as short
BloFin LLY-USDT	+0.0066%	8h	1,163.6	+0.021%	$84K	$85K	20x	as long as short
Nado LLY-PERP	+0.0079%	1h	1,162.6	−0.062%	$39K	$251	10x	as long as short
KuCoin LLYUSDTM	+0.0100%	8h	1,163.2	−0.009%	$137K	$73K	20x	as long as short
Injective LLY/USDC PERP	+0.0220%	1h	1,175.6	+1.057%	$7K	$24K	12x	as long as short
Phoenix LLYlong	+0.0275%	1h	1,163.3	long leg	$1K	$7K	10x