Funding arb · Price arb /

LLY

RWAall LLY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0078%/8h= −8.6% APRpaid last 24h −0.020%

Price spread now: QFEX against KuCoin+0.064%7-day average +0.012% · 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−$857as in the Price arb table

costs, in and out, $10k−$8638.625% of the position

Long on KuCoin Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.089%−$9 on $10k

Price spread, last 4 days (all we have)−0.100%−$10 · spread now +0.064%, 7d avg +0.012%

Together, before fees−0.189%−$19 on $10k · with fees, hour by hour

The price spread pays, funding is against you. QFEX is 0.052% dearer against KuCoin than usual: you sell high and buy low (spread +0.064% now, against its 7-day average of +0.012%): +$5 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 2.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin LLYUSDTM	1,164.7	0.0100	pay 0.0100% / 8h	7h 59m	$136K	$79K	20x
Short	QFEX LLY-USD	1,165.4	0.0022	get 0.0003% / 1h	59m 16s	$1.2M	$3.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against KuCoin. 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 KuCoinbpFee QFEXbpOrdersPrice spread, now +0.064%Rate

Funding earned: −$16.43
Price spread: +0.064% → +0.012%: $5.17
Slippage, 4 orders: −$840.54
Fee KuCoin: 6 bp × 2 orders: −$12
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$873.8
Costs to cover: 8.625%
Break-even: never at this rate

Slippage from KuCoin: live order book, 31 min ago; QFEX: live order book, 4 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 KuCoin live order book, 31 min ago	16.75 bp	339.3 bp −$339	doesn't fit	doesn't fit	doesn't fit
Sell QFEX live order book, 4 min ago	27.09 bp	32.3 bp −$32	40.3 bp −$403	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
Aster LLYUSDT	0.0000%	8h	1,165.7	+0.082%	$24K	$3K	20x	as long as short
Binance LLYUSDT	0.0000%	8h	1,165.7	+0.090%	$2.0M	$3.1M	20x	as long as short
Bybit LLYUSDT	0.0000%	8h	1,165.4	+0.058%	$1.3M	$343K	25x	as long as short
OKX LLY-USDT-SWAP	0.0000%	8h	1,164.7	0.000%	$795K	$570K	20x	as long as short
Gate LLY_USDT	0.0000%	8h	1,164.8	+0.006%	$1.3M	$634K	25x	as long as short
Bitget LLYUSDT	0.0000%	8h	1,164.8	+0.011%	$2.3M	$166K	20x	as long as short
Variational Omni LLY	0.0000%	8h	1,164.8	+0.007%	$193K	$19K	—	as long as short
GRVT LLY_USDT_Perp	0.0000%	8h	1,165.2	+0.039%	$233	$171K	10x	as long as short
Nado LLY-PERP	0.0000%	1h	1,164.7	+0.004%	$39K	$251	10x	as long as short
SunX LLY-USDT	0.0000%	8h	1,165.3	+0.052%	$2K	$5.6M	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	1,163	−0.150%	$5K	$41K	20x	as long as short
BloFin LLY-USDT	+0.0011%	8h	1,165.3	+0.052%	$84K	$85K	20x	as long as short
QFEX LLY-USDshort	+0.0022%	1h	1,165.4	+0.064%	$1.2M	$3.1M	10x
Aftermath Perps LLYUSD	+0.0031%	1h	1,164.5	−0.015%	$47K	$40K	5x	as long as short
Vest LLY-USD-PERP	+0.0046%	1h	1,164.1	−0.053%	—	—	25x	as long as short
tradeXYZ xyz:LLY	+0.0062%	1h	1,164.3	−0.034%	$8.7M	$1.1M	10x	as long as short
KuCoin LLYUSDTMlong	+0.0100%	8h	1,164.7	long leg	$136K	$79K	20x
Injective LLY/USDC PERP	+0.0220%	1h	1,177.7	+1.116%	$7K	$24K	12x	as long as short
Phoenix LLY	+0.0274%	1h	1,165.6	+0.077%	$1K	$7K	10x	as long as short