Funding arb · Price arb /

LLY

RWAall LLY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0042%/8h= +4.6% APRpaid last 24h +0.011%

Price spread now: QFEX against Gate+0.019%7-day average +0.043% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$69as in the Price arb table

costs, in and out, $10k−$660.662% of the position

Long on Gate Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.019%+$2 on $10k

Price spread, last 7 days+0.059%+$6 · spread now +0.019%, 7d avg +0.043%

Together, before fees+0.078%+$8 on $10k · with fees, hour by hour

Funding pays, the price is against you. QFEX is 0.024% cheaper against Gate than usual: you would sell low and buy high (spread +0.019% now, against its 7-day average of +0.043%). If the spread goes back, that is −$2 on $10k: about 46 hours of funding at the current rate (+$1 a day). At the pace of the last 4 days (+0.019% in total) that is about 4.7 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate LLY_USDT	1,165.4	0	get 0.0000% / 8h	3h 06m	$1.3M	$854K	25x
Short	QFEX LLY-USD	1,165.6	0.0042	get 0.0005% / 1h	6m 18s	$1.2M	$3.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against Gate. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 GatebpFee QFEXbpOrdersPrice spread, now +0.019%Rate

Funding earned: $8.8
Price spread: +0.019% → +0.043%: −$2.41
Slippage, 4 orders: −$41.21
Fee Gate: 7.5 bp × 2 orders: −$15
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$59.82
Costs to cover: 0.662%
Break-even: 54.6 days

Slippage from Gate: live order book, 1 min ago; QFEX: live order book, 7 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 Gate live order book, 1 min ago	5.28 bp	37.6 bp −$38	doesn't fit	doesn't fit	doesn't fit
Sell QFEX live order book, 7 min ago	2.10 bp	7.3 bp −$7	10.2 bp −$102	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	−0.0024%	8h	1,165.6	+0.017%	$83K	$85K	20x	as long as short
Aster LLYUSDT	0.0000%	8h	1,165.5	+0.011%	$24K	$3K	20x	as long as short
Binance LLYUSDT	0.0000%	8h	1,165.8	+0.039%	$2.0M	$3.1M	20x	as long as short
Bybit LLYUSDT	0.0000%	8h	1,165.5	+0.009%	$1.3M	$523K	25x	as long as short
OKX LLY-USDT-SWAP	0.0000%	8h	1,165.3	−0.008%	$790K	$604K	20x	as long as short
Gate LLY_USDTlong	0.0000%	8h	1,165.4	long leg	$1.3M	$854K	25x
Bitget LLYUSDT	0.0000%	8h	1,166.2	+0.065%	$2.3M	$169K	20x	as long as short
Variational Omni LLY	0.0000%	8h	1,165.6	+0.021%	$193K	$16K	—	as long as short
GRVT LLY_USDT_Perp	0.0000%	8h	1,165.7	+0.027%	$221	$182K	10x	as long as short
SunX LLY-USDT	0.0000%	8h	1,165.8	+0.035%	$2K	$5.8M	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	1,164	−0.116%	$5K	$41K	20x	as long as short
Aftermath Perps LLYUSD	+0.0015%	1h	1,165.3	−0.005%	$47K	$40K	5x	as long as short
QFEX LLY-USDshort	+0.0042%	1h	1,165.6	+0.019%	$1.2M	$3.9M	10x
Vest LLY-USD-PERP	+0.0046%	1h	1,165.5	+0.006%	—	—	25x	as long as short
tradeXYZ xyz:LLY	+0.0050%	1h	1,165.2	−0.016%	$8.7M	$1.2M	10x	as long as short
KuCoin LLYUSDTM	+0.0100%	8h	1,165.5	+0.009%	$137K	$72K	20x	as long as short
Nado LLY-PERP	+0.0177%	1h	1,165.4	0.000%	$39K	$251	10x	as long as short
Injective LLY/USDC PERP	+0.0220%	1h	1,176.8	+0.979%	$7K	$24K	12x	as long as short
Phoenix LLY	+0.0344%	1h	1,165.6	+0.018%	$1K	$7K	10x	as long as short