Funding arb · Price arb /

LLY

RWAall LLY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0013%/8h= −1.4% APRpaid last 24h −0.009%

Price spread now: Gate against QFEX+0.037%7-day average −0.041% · 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−$640.640% of the position

Long on QFEX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.021%−$2 on $10k

Price spread, last 7 days−0.101%−$10 · spread now +0.037%, 7d avg −0.041%

Together, before fees−0.122%−$12 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 0.078% dearer against QFEX than usual: you sell high and buy low (spread +0.037% now, against its 7-day average of −0.041%): +$8 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 20 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX LLY-USD	1,147.7	0.0013	pay 0.0002% / 1h	50m 58s	$1.2M	$3.2M	10x
Short	Gate LLY_USDT	1,148.1	0	get 0.0000% / 8h	4h 50m	$1.3M	$630K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.037%Rate

Funding earned: −$2.76
Price spread: +0.037% → −0.041%: $7.77
Slippage, 4 orders: −$39.02
Fee QFEX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$59
Costs to cover: 0.640%
Break-even: never at this rate

Slippage from QFEX: live order book, 5 min ago; Gate: live order book, 4 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, 5 min ago	2.07 bp	8.3 bp −$8	12.8 bp −$128	doesn't fit	doesn't fit
Sell Gate live order book, 4 min ago	9.65 bp	21.9 bp −$22	doesn't fit	doesn't fit	doesn't fit

LLY on 19 exchanges

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	−0.0059%	8h	1,148.2	+0.041%	$1.4M	$575K	25x	as long as short
Aftermath Perps LLYUSD	−0.0018%	1h	1,157.6	+0.861%	$47K	$51K	5x	as long as short
Aster LLYUSDT	0.0000%	8h	1,149.1	+0.123%	$23K	$3K	20x	as long as short
Binance LLYUSDT	0.0000%	8h	1,149	+0.115%	$2.0M	$3.8M	20x	as long as short
OKX LLY-USDT-SWAP	0.0000%	8h	1,148.3	+0.051%	$818K	$566K	20x	as long as short
Gate LLY_USDTshort	0.0000%	8h	1,148.1	+0.037%	$1.3M	$630K	25x
Bitget LLYUSDT	0.0000%	8h	1,149.9	+0.191%	$2.3M	$316K	20x	as long as short
Variational Omni LLY	0.0000%	8h	1,161.6	+1.210%	$190K	$20K	—	as long as short
GRVT LLY_USDT_Perp	0.0000%	8h	1,161.9	+1.240%	$221	$150K	10x	as long as short
SunX LLY-USDT	0.0000%	8h	1,149.2	+0.129%	$1K	$4.5M	10x	as long as short

Show all 19 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX LLY-USDT	0.0000%	8h	1,161.8	+1.225%	$6K	$42K	20x	as long as short
BloFin LLY-USDT	+0.0006%	8h	1,149.2	+0.125%	$86K	$86K	20x	as long as short
QFEX LLY-USDlong	+0.0013%	1h	1,147.7	long leg	$1.2M	$3.2M	10x
KuCoin LLYUSDTM	+0.0026%	8h	1,148.1	+0.033%	$145K	$285K	20x	as long as short
Injective LLY/USDC PERP	+0.0033%	1h	1,160	+1.070%	$20K	$37K	12x	as long as short
Vest LLY-USD-PERP	+0.0046%	1h	1,147.6	−0.011%	—	—	25x	as long as short
tradeXYZ xyz:LLY	+0.0050%	1h	1,147.2	−0.045%	$8.7M	$1.3M	10x	as long as short
Phoenix LLY	+0.0069%	1h	1,163.2	+1.349%	$1K	$9K	10x	as long as short
Nado LLY-PERP	+0.0096%	1h	1,148.1	+0.032%	$38K	$251	10x	as long as short