Funding arb · Price arb /

LLY

RWAall LLY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0057%/8h= +6.2% APRpaid last 24h −0.017%

Price spread now: BloFin against Phoenix+0.015%7-day average — · you sell dearer than you buy

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

Long on Phoenix Short on BloFin

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: +$2 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	1,164.6	0.0206	pay 0.0026% / 1h	32m 35s	$1K	$7K	10x
Short	BloFin LLY-USDT	1,164.8	0.0262	get 0.0262% / 8h	7h 32m	$84K	$85K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.015%Rate

Funding earned: $11.9
Price spread: +0.015% → 0.000%: $1.55
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$5.56
Costs to cover: 0.190%
Break-even: 10.3 days

Slippage unknown: Phoenix: no order-book sample; BloFin: no order-book sample. 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 BloFin no order-book sample	—	—	—	—	—

Phoenix and BloFin: 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	1,164.1	−0.042%	$1.3M	$576K	25x	as long as short
OKX LLY-USDT-SWAP	0.0000%	8h	1,162.6	−0.172%	$813K	$577K	20x	as long as short
Gate LLY_USDT	0.0000%	8h	1,164.1	−0.047%	$1.3M	$897K	25x	as long as short
Bitget LLYUSDT	0.0000%	8h	1,165.1	+0.044%	$2.3M	$178K	20x	as long as short
GRVT LLY_USDT_Perp	0.0000%	8h	1,164.5	−0.006%	$221	$198K	10x	as long as short
SunX LLY-USDT	0.0000%	8h	1,164.7	+0.009%	$1K	$6.3M	10x	as long as short
HTX LLY-USDT	0.0000%	8h	1,162.7	−0.162%	$5K	$40K	20x	as long as short
QFEX LLY-USD	+0.0004%	1h	1,163.7	−0.077%	$1.2M	$5.1M	10x	as long as short
Aftermath Perps LLYUSD	+0.0009%	1h	1,164.7	+0.006%	$47K	$42K	5x	as long as short
Vest LLY-USD-PERP	+0.0046%	1h	1,163.6	−0.086%	—	—	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	+0.0050%	1h	1,164.9	+0.026%	$8.6M	$1.1M	10x	as long as short
Nado LLY-PERP	+0.0077%	1h	1,164.2	−0.037%	$39K	$251	10x	as long as short
KuCoin LLYUSDTM	+0.0100%	8h	1,164.9	+0.026%	$138K	$75K	20x	as long as short
Aster LLYUSDT	+0.0112%	8h	1,165	+0.034%	$24K	$3K	20x	as long as short
Variational Omni LLY	+0.0136%	8h	1,164.3	−0.030%	$191K	$17K	—	as long as short
Phoenix LLYlong	+0.0206%	1h	1,164.6	long leg	$1K	$7K	10x
Injective LLY/USDC PERP	+0.0220%	1h	1,177.4	+1.099%	$10K	$21K	12x	as long as short
BloFin LLY-USDTshort	+0.0262%	8h	1,164.8	+0.015%	$84K	$85K	20x
Binance LLYUSDT	+0.0267%	8h	1,164.7	+0.005%	$2.0M	$3.1M	20x	as long as short