Funding arb · Price arb /

LLY

RWAall LLY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.019%

Price spread now: Bybit against tradeXYZ−0.022%7-day average +0.066% · you buy dearer than you sell

Net, funding: paid 7d − costs−$95as in the Funding arb table

Net, price: spread back to 7d avg − costs−$83as in the Price arb table

costs, in and out, $10k−$750.746% of the position

Long on tradeXYZ Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.204%−$20 on $10k

Price spread, last 7 days+0.021%+$2 · spread now −0.022%, 7d avg +0.066%

Together, before fees−0.183%+ Points / potential airdroptradeXYZ: Active · farm board−$18 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Bybit is 0.089% cheaper against tradeXYZ than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of +0.066%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:LLY	1,165.9	0.0050	pay 0.0006% / 1h	56m 12s	$8.7M	$1.2M	10x
Short	Bybit LLYUSDT	1,165.6	0	get 0.0000% / 8h	56m 12s	$1.3M	$350K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against tradeXYZ. 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 tradeXYZbpFee BybitbpOrdersPrice spread, now −0.022%Rate

Funding earned: −$10.5
Price spread: −0.022% → +0.066%: −$8.86
Slippage, 4 orders: −$45.61
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$93.97
Costs to cover: 0.746%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 12 min ago; Bybit: live order book, 5 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 tradeXYZ live order book, 12 min ago	2.57 bp	14.0 bp −$14	33.1 bp −$331	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	9.22 bp	26.8 bp −$27	doesn't fit	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
BloFin LLY-USDT	−0.0020%	8h	1,166.1	+0.019%	$84K	$86K	20x	as long as short
Aster LLYUSDT	0.0000%	8h	1,165.4	−0.039%	$24K	$3K	20x	as long as short
Binance LLYUSDT	0.0000%	8h	1,165.7	−0.020%	$2.0M	$3.1M	20x	as long as short
Bybit LLYUSDTshort	0.0000%	8h	1,165.6	−0.022%	$1.3M	$350K	25x
OKX LLY-USDT-SWAP	0.0000%	8h	1,166.3	+0.034%	$790K	$567K	20x	as long as short
Gate LLY_USDT	0.0000%	8h	1,165.7	−0.020%	$1.3M	$755K	25x	as long as short
Bitget LLYUSDT	0.0000%	8h	1,166.2	+0.028%	$2.3M	$167K	20x	as long as short
Variational Omni LLY	0.0000%	8h	1,165.7	−0.016%	$193K	$18K	—	as long as short
GRVT LLY_USDT_Perp	0.0000%	8h	1,166	+0.011%	$222	$176K	10x	as long as short
SunX LLY-USDT	0.0000%	8h	1,165.9	0.000%	$2K	$5.7M	10x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX LLY-USDT	0.0000%	8h	1,164.6	−0.109%	$6K	$42K	20x	as long as short
Aftermath Perps LLYUSD	+0.0019%	1h	1,165.7	−0.014%	$47K	$40K	5x	as long as short
QFEX LLY-USD	+0.0022%	1h	1,165.7	−0.015%	$1.2M	$3.4M	10x	as long as short
Vest LLY-USD-PERP	+0.0046%	1h	1,165.9	−0.001%	—	—	25x	as long as short
tradeXYZ xyz:LLYlong	+0.0050%	1h	1,165.9	long leg	$8.7M	$1.2M	10x
KuCoin LLYUSDTM	+0.0100%	8h	1,165.6	−0.026%	$137K	$67K	20x	as long as short
Nado LLY-PERP	+0.0114%	1h	1,166	+0.011%	$39K	$251	10x	as long as short
Phoenix LLY	+0.0206%	1h	1,166.3	+0.034%	$1K	$7K	10x	as long as short
Injective LLY/USDC PERP	+0.0220%	1h	1,177.7	+1.012%	$7K	$24K	12x	as long as short