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 −0.028%

Price spread now: OKX against tradeXYZ−0.009%7-day average +0.037% · you buy dearer than you sell

Net, funding: paid 7d − costs−$101as in the Funding arb table

Net, price: spread back to 7d avg − costs−$79as in the Price arb table

costs, in and out, $10k−$740.742% of the position

Long on tradeXYZ Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.270%−$27 on $10k

Price spread, last 4 days (all we have)+0.055%+$6 · spread now −0.009%, 7d avg +0.037%

Together, before fees−0.215%+ Points / potential airdroptradeXYZ: Active · farm board−$21 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 OKX is 0.045% cheaper against tradeXYZ than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.037%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:LLY	1,165.7	0.0050	pay 0.0006% / 1h	31m 58s	$8.7M	$1.2M	10x
Short	OKX LLY-USDT-SWAP	1,165.6	0	get 0.0000% / 8h	31m 58s	$795K	$572K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.009%Rate

Funding earned: −$10.5
Price spread: −0.009% → +0.037%: −$4.52
Slippage, 4 orders: −$46.19
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee OKX: 5 bp × 2 orders: −$10
Net: −$89.21
Costs to cover: 0.742%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 7 min ago; OKX: 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 tradeXYZ live order book, 7 min ago	0.86 bp	14.3 bp −$14	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 4 min ago	3.86 bp	35.1 bp −$35	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	−0.0019%	8h	1,165.5	−0.015%	$84K	$85K	20x	as long as short
Aster LLYUSDT	0.0000%	8h	1,165.6	−0.013%	$24K	$3K	20x	as long as short
Binance LLYUSDT	0.0000%	8h	1,165.6	−0.011%	$2.0M	$3.1M	20x	as long as short
Bybit LLYUSDT	0.0000%	8h	1,165.6	−0.005%	$1.3M	$347K	25x	as long as short
OKX LLY-USDT-SWAPshort	0.0000%	8h	1,165.6	−0.009%	$795K	$572K	20x
Gate LLY_USDT	0.0000%	8h	1,165.4	−0.027%	$1.3M	$756K	25x	as long as short
Bitget LLYUSDT	0.0000%	8h	1,166.1	+0.038%	$2.3M	$167K	20x	as long as short
Variational Omni LLY	0.0000%	8h	1,165.6	−0.013%	$193K	$18K	—	as long as short
GRVT LLY_USDT_Perp	0.0000%	8h	1,165.6	−0.005%	$210	$173K	10x	as long as short
SunX LLY-USDT	0.0000%	8h	1,165.7	0.000%	$2K	$5.6M	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	1,163.1	−0.223%	$6K	$42K	20x	as long as short
Aftermath Perps LLYUSD	+0.0020%	1h	1,165.7	+0.003%	$47K	$40K	5x	as long as short
QFEX LLY-USD	+0.0022%	1h	1,165.6	−0.008%	$1.2M	$3.3M	10x	as long as short
Vest LLY-USD-PERP	+0.0046%	1h	1,165.3	−0.036%	—	—	25x	as long as short
tradeXYZ xyz:LLYlong	+0.0050%	1h	1,165.7	long leg	$8.7M	$1.2M	10x
KuCoin LLYUSDTM	+0.0100%	8h	1,165.4	−0.026%	$137K	$67K	20x	as long as short
Injective LLY/USDC PERP	+0.0220%	1h	1,177.7	+1.029%	$7K	$24K	12x	as long as short
Nado LLY-PERP	+0.0232%	1h	1,165.3	−0.031%	$39K	$251	10x	as long as short
Phoenix LLY	+0.0274%	1h	1,166.9	+0.103%	$1K	$7K	10x	as long as short