Funding arb · Price arb /

LLY

RWAall LLY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0076%/8h= −8.3% APRpaid last 24h −0.005%

Price spread now: QFEX against Variational Omni−0.030%7-day average +0.001% · you buy dearer than you sell

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

Long on Variational Omni Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.040%−$4 on $10k

Price spread, last 3 days (all we have)+0.008%+$1 · spread now −0.030%, 7d avg +0.001%

Together, before fees−0.032%+ Points / potential airdropVariational Omni: Active · farm board−$3 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 QFEX is 0.032% cheaper against Variational Omni than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.001%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni LLY	1,166.4	0.0099	pay 0.0099% / 8h	46m 37s	$191K	$19K	—
Short	QFEX LLY-USD	1,166	0.0023	get 0.0003% / 1h	46m 37s	$1.2M	$5.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against Variational Omni. 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 Variational OmnibpFee QFEXbpOrdersPrice spread, now −0.030%Rate

Funding earned: −$15.99
Price spread: −0.030% → +0.001%: −$3.15
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$29.14
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 32 min ago; QFEX: live order book, 7 min ago. 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 Variational Omni RFQ quote, 32 min ago	6.30 bp	doesn't fit	83.2 bp −$832	doesn't fit	doesn't fit
Sell QFEX live order book, 7 min ago	2.14 bp	7.5 bp −$7	14.1 bp −$141	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	−0.0026%	1h	1,166.7	+0.027%	$39K	$251	10x	as long as short
Bybit LLYUSDT	0.0000%	8h	1,166.2	−0.015%	$1.3M	$636K	25x	as long as short
OKX LLY-USDT-SWAP	0.0000%	8h	1,166.2	−0.014%	$819K	$571K	20x	as long as short
Gate LLY_USDT	0.0000%	8h	1,166.2	−0.014%	$1.3M	$898K	25x	as long as short
Bitget LLYUSDT	0.0000%	8h	1,166.8	+0.036%	$2.3M	$176K	20x	as long as short
SunX LLY-USDT	0.0000%	8h	1,166.7	+0.029%	$2K	$6.6M	10x	as long as short
HTX LLY-USDT	0.0000%	8h	1,165	−0.117%	$5K	$40K	20x	as long as short
Aftermath Perps LLYUSD	+0.0006%	1h	1,166.2	−0.018%	$47K	$41K	5x	as long as short
QFEX LLY-USDshort	+0.0023%	1h	1,166	−0.030%	$1.2M	$5.1M	10x
Vest LLY-USD-PERP	+0.0046%	1h	1,165.7	−0.061%	—	—	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	1,166.4	+0.003%	$8.6M	$1.1M	10x	as long as short
Aster LLYUSDT	+0.0064%	8h	1,166	−0.030%	$24K	$3K	20x	as long as short
Variational Omni LLYlong	+0.0099%	8h	1,166.4	long leg	$191K	$19K	—
KuCoin LLYUSDTM	+0.0100%	8h	1,166	−0.031%	$137K	$80K	20x	as long as short
Injective LLY/USDC PERP	+0.0220%	1h	1,177.9	+0.989%	$10K	$21K	12x	as long as short
BloFin LLY-USDT	+0.0250%	8h	1,166.7	+0.030%	$84K	$85K	20x	as long as short
Binance LLYUSDT	+0.0269%	8h	1,166.3	−0.003%	$2.0M	$3.1M	20x	as long as short
Phoenix LLY	+0.0343%	1h	1,167.5	+0.097%	$1K	$7K	10x	as long as short
GRVT LLY_USDT_Perp	+0.0455%	8h	1,166.2	−0.018%	$548	$208K	10x	as long as short