Funding arb · Price arb /

LLY

RWAall LLY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0024%/8h= +2.7% APRpaid last 24h +0.045%

Price spread now: Phoenix against BloFin+0.063%7-day average — · you sell dearer than you buy

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

Long on BloFin 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

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Phoenix is 0.063% dearer against BloFin than usual: you sell high and buy low: +$6 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin LLY-USDT	1,166.8	0.0318	pay 0.0318% / 8h	13m 43s	$84K	$84K	20x
Short	Phoenix LLY	1,167.5	0.0343	get 0.0043% / 1h	13m 43s	$1K	$7K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against BloFin. 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 BloFinbpFee PhoenixbpOrdersPrice spread, now +0.063%Rate

Funding earned: $5.11
Price spread: +0.063% → 0.000%: $6.26
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$7.63
Costs to cover: 0.190%
Break-even: 17.5 days

Slippage unknown: BloFin: no order-book sample; 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 BloFin no order-book sample	—	—	—	—	—
Sell Phoenix no order-book sample	—	—	—	—	—

BloFin and 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
Bybit LLYUSDT	0.0000%	8h	1,167	+0.022%	$1.3M	$631K	25x	as long as short
OKX LLY-USDT-SWAP	0.0000%	8h	1,168	+0.105%	$820K	$573K	20x	as long as short
Gate LLY_USDT	0.0000%	8h	1,166.7	−0.010%	$1.3M	$900K	25x	as long as short
Bitget LLYUSDT	0.0000%	8h	1,167.2	+0.034%	$2.3M	$175K	20x	as long as short
SunX LLY-USDT	0.0000%	8h	1,167	+0.020%	$1K	$6.5M	10x	as long as short
HTX LLY-USDT	0.0000%	8h	1,165.3	−0.127%	$5K	$40K	20x	as long as short
Aftermath Perps LLYUSD	+0.0003%	1h	1,166.7	−0.008%	$47K	$42K	5x	as long as short
Nado LLY-PERP	+0.0013%	1h	1,166.9	+0.011%	$39K	$251	10x	as long as short
QFEX LLY-USD	+0.0023%	1h	1,166.7	−0.009%	$1.2M	$5.1M	10x	as long as short
Vest LLY-USD-PERP	+0.0046%	1h	1,166.6	−0.014%	—	—	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	1,166.9	+0.011%	$8.6M	$1.1M	10x	as long as short
KuCoin LLYUSDTM	+0.0100%	8h	1,166.7	−0.006%	$138K	$81K	20x	as long as short
Aster LLYUSDT	+0.0124%	8h	1,166.3	−0.043%	$24K	$3K	20x	as long as short
Variational Omni LLY	+0.0141%	8h	1,166.6	−0.018%	$191K	$19K	—	as long as short
Injective LLY/USDC PERP	+0.0220%	1h	1,178.5	+1.005%	$10K	$21K	12x	as long as short
Binance LLYUSDT	+0.0307%	8h	1,166.9	+0.011%	$2.0M	$3.1M	20x	as long as short
BloFin LLY-USDTlong	+0.0318%	8h	1,166.8	long leg	$84K	$84K	20x
Phoenix LLYshort	+0.0343%	1h	1,167.5	+0.063%	$1K	$7K	10x
GRVT LLY_USDT_Perp	+0.0443%	8h	1,166.6	−0.014%	$268	$203K	10x	as long as short