Funding arb · Price arb /

LLY

RWAall LLY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0206%/8h= +22.5% APRpaid last 24h +0.083%

Price spread now: Phoenix against Bitget+0.007%109s7-day average — · you sell dearer than you buy

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

Long on Bitget Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$6 a day on $10k at the current rate. The two prices were read 109 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget LLYUSDT	1,166.4	0	get 0.0000% / 8h	1h 21m	$2.3M	$167K	20x
Short	Phoenix LLY	1,166.5	0.0206	get 0.0026% / 1h	21m 36s	$1K	$7K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Bitget. 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 BitgetbpFee PhoenixbpOrdersPrice spread, now +0.007%Rate

Funding earned: $43.21
Price spread: +0.007% → 0.000%: $0.69
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $24.9
Costs to cover: 0.190%
Break-even: 3.0 days

Slippage unknown: Bitget: live order book, 6 min ago; Phoenix: no order-book sample. 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 Bitget live order book, 6 min ago	6.68 bp	14.9 bp −$15	32.7 bp −$327	doesn't fit	doesn't fit
Sell Phoenix no order-book sample	—	—	—	—	—

Phoenix: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Aster LLYUSDT	0.0000%	8h	1,166.4	−0.001%	$24K	$3K	20x	as long as short
Binance LLYUSDT	0.0000%	8h	1,166.7	+0.027%	$2.0M	$3.2M	20x	as long as short
Bybit LLYUSDT	0.0000%	8h	1,166	−0.039%	$1.3M	$380K	25x	as long as short
OKX LLY-USDT-SWAP	0.0000%	8h	1,166	−0.036%	$790K	$567K	20x	as long as short
Gate LLY_USDT	0.0000%	8h	1,166.3	−0.015%	$1.3M	$811K	25x	as long as short
Bitget LLYUSDTlong	0.0000%	8h	1,166.4	long leg	$2.3M	$167K	20x
Variational Omni LLY	0.0000%	8h	1,166.7	+0.023%	$193K	$18K	—	as long as short
GRVT LLY_USDT_Perp	0.0000%	8h	1,166.2	−0.018%	$245	$176K	10x	as long as short
SunX LLY-USDT	0.0000%	8h	1,166.8	+0.033%	$2K	$5.7M	10x	as long as short
HTX LLY-USDT	0.0000%	8h	1,165.5	−0.081%	$6K	$41K	20x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin LLY-USDT	+0.0004%	8h	1,166.7	+0.027%	$84K	$86K	20x	as long as short
QFEX LLY-USD	+0.0012%	1h	1,166.5	+0.003%	$1.2M	$3.5M	10x	as long as short
Aftermath Perps LLYUSD	+0.0019%	1h	1,166.4	−0.002%	$47K	$40K	5x	as long as short
Vest LLY-USD-PERP	+0.0046%	1h	1,165.7	−0.063%	—	—	25x	as long as short
KuCoin LLYUSDTM	+0.0100%	8h	1,166.4	−0.002%	$137K	$68K	20x	as long as short
tradeXYZ xyz:LLY	+0.0104%	1h	1,166.5	+0.007%	$8.7M	$1.2M	10x	as long as short
Nado LLY-PERP	+0.0192%	1h	1,165.7	−0.060%	$39K	$251	10x	as long as short
Phoenix LLYshort	+0.0206%	1h	1,166.5	+0.007%	$1K	$7K	10x
Injective LLY/USDC PERP	+0.0220%	1h	1,178.7	+1.053%	$7K	$24K	12x	as long as short