Funding arb · Price arb /

LLY

RWAall LLY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0344%/8h= +37.6% APRpaid last 24h +0.073%

Price spread now: Phoenix against Bybit+0.057%7-day average — · you sell dearer than you buy

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

Long on Bybit 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 +$10 a day on $10k at the current rate, and Phoenix is 0.057% dearer against Bybit 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	Bybit LLYUSDT	1,164	0	get 0.0000% / 8h	3h 43m	$1.3M	$523K	25x
Short	Phoenix LLY	1,164.7	0.0344	get 0.0043% / 1h	43m 05s	$1K	$7K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Bybit. 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 BybitbpFee PhoenixbpOrdersPrice spread, now +0.057%Rate

Funding earned: $72.18
Price spread: +0.057% → 0.000%: $5.67
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $59.85
Costs to cover: 0.180%
Break-even: 1.2 days

Slippage unknown: Bybit: live order book, 3 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 Bybit live order book, 3 min ago	3.14 bp	29.8 bp −$30	597.5 bp −$5,975	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	1,164.3	+0.021%	$24K	$3K	20x	as long as short
Binance LLYUSDT	0.0000%	8h	1,164.4	+0.029%	$2.0M	$3.1M	20x	as long as short
Bybit LLYUSDTlong	0.0000%	8h	1,164	long leg	$1.3M	$523K	25x
OKX LLY-USDT-SWAP	0.0000%	8h	1,163.6	−0.038%	$789K	$635K	20x	as long as short
Gate LLY_USDT	0.0000%	8h	1,163.7	−0.028%	$1.3M	$852K	25x	as long as short
Bitget LLYUSDT	0.0000%	8h	1,164.8	+0.067%	$2.3M	$169K	20x	as long as short
Variational Omni LLY	0.0000%	8h	1,163.9	−0.014%	$192K	$16K	—	as long as short
SunX LLY-USDT	0.0000%	8h	1,164.1	+0.005%	$2K	$5.8M	10x	as long as short
HTX LLY-USDT	0.0000%	8h	1,162.3	−0.153%	$5K	$41K	20x	as long as short
BloFin LLY-USDT	+0.0015%	8h	1,164.5	+0.037%	$83K	$85K	20x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps LLYUSD	+0.0023%	1h	1,163.4	−0.054%	$47K	$41K	5x	as long as short
QFEX LLY-USD	+0.0042%	1h	1,164.1	+0.006%	$1.2M	$4.1M	10x	as long as short
GRVT LLY_USDT_Perp	+0.0042%	8h	1,164.3	+0.021%	$233	$185K	10x	as long as short
Vest LLY-USD-PERP	+0.0046%	1h	1,163.9	−0.009%	—	—	25x	as long as short
KuCoin LLYUSDTM	+0.0100%	8h	1,164.1	+0.005%	$137K	$74K	20x	as long as short
tradeXYZ xyz:LLY	+0.0147%	1h	1,164.1	+0.005%	$8.7M	$1.2M	10x	as long as short
Injective LLY/USDC PERP	+0.0220%	1h	1,176.3	+1.053%	$7K	$24K	12x	as long as short
Nado LLY-PERP	+0.0269%	1h	1,163.9	−0.013%	$39K	$251	10x	as long as short
Phoenix LLYshort	+0.0344%	1h	1,164.7	+0.057%	$1K	$7K	10x