Funding arb · Price arb /

LLY

RWAall LLY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0035%/8h= −3.8% APRpaid last 24h −0.010%

Price spread now: Bitget against QFEX+0.028%7-day average +0.071% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$56as in the Price arb table

costs, in and out, $10k−$510.513% of the position

Long on QFEX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.020%−$2 on $10k

Price spread, last 7 days+0.039%+$4 · spread now +0.028%, 7d avg +0.071%

Together, before fees+0.020%+$2 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Bitget is 0.043% cheaper against QFEX than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.071%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX LLY-USD	1,165	0.0035	pay 0.0004% / 1h	50m 30s	$1.2M	$3.1M	10x
Short	Bitget LLYUSDT	1,165.3	0	get 0.0000% / 8h	7h 50m	$2.3M	$166K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against QFEX. 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 QFEXbpFee BitgetbpOrdersPrice spread, now +0.028%Rate

Funding earned: −$7.32
Price spread: +0.028% → +0.071%: −$4.25
Slippage, 4 orders: −$29.28
Fee QFEX: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$62.85
Costs to cover: 0.513%
Break-even: never at this rate

Slippage from QFEX: live order book, 3 min ago; Bitget: live order book, 2 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 QFEX live order book, 3 min ago	2.06 bp	8.9 bp −$9	15.9 bp −$159	doesn't fit	doesn't fit
Sell Bitget live order book, 2 min ago	10.17 bp	17.1 bp −$17	56.9 bp −$569	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
Nado LLY-PERP	−0.0186%	1h	1,166.3	+0.113%	$39K	$251	10x	as long as short
tradeXYZ xyz:LLY	−0.0041%	1h	1,165.3	+0.027%	$8.7M	$1.1M	10x	as long as short
BloFin LLY-USDT	−0.0011%	8h	1,165.6	+0.050%	$84K	$85K	20x	as long as short
Aster LLYUSDT	0.0000%	8h	1,165.7	+0.062%	$24K	$3K	20x	as long as short
Binance LLYUSDT	0.0000%	8h	1,165.5	+0.044%	$2.0M	$3.1M	20x	as long as short
Bybit LLYUSDT	0.0000%	8h	1,166.2	+0.102%	$1.3M	$343K	25x	as long as short
OKX LLY-USDT-SWAP	0.0000%	8h	1,166.3	+0.113%	$795K	$571K	20x	as long as short
Gate LLY_USDT	0.0000%	8h	1,165.2	+0.021%	$1.3M	$635K	25x	as long as short
Bitget LLYUSDTshort	0.0000%	8h	1,165.3	+0.028%	$2.3M	$166K	20x
Variational Omni LLY	0.0000%	8h	1,164.9	−0.007%	$193K	$19K	—	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT LLY_USDT_Perp	0.0000%	8h	1,165.2	+0.016%	$233	$169K	10x	as long as short
SunX LLY-USDT	0.0000%	8h	1,165	+0.002%	$1K	$5.6M	10x	as long as short
HTX LLY-USDT	0.0000%	8h	1,165.3	+0.030%	$6K	$41K	20x	as long as short
Aftermath Perps LLYUSD	+0.0025%	1h	1,165.3	+0.029%	$47K	$40K	5x	as long as short
QFEX LLY-USDlong	+0.0035%	1h	1,165	long leg	$1.2M	$3.1M	10x
Vest LLY-USD-PERP	+0.0046%	1h	1,165.2	+0.015%	—	—	25x	as long as short
KuCoin LLYUSDTM	+0.0100%	8h	1,165.7	+0.062%	$136K	$89K	20x	as long as short
Injective LLY/USDC PERP	+0.0220%	1h	1,177.7	+1.092%	$7K	$24K	12x	as long as short
Phoenix LLY	+0.0412%	1h	1,165.8	+0.070%	$1K	$7K	10x	as long as short