Funding arb · Price arb /

LLY

RWAall LLY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0131%/8h= +14.4% APRpaid last 24h −0.055%

Price spread now: Variational Omni against Nado−0.035%7-day average — · you buy dearer than you sell

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

Long on Nado Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropNado: Active · Variational Omni: Active · farm boardneeds both histories

Funding pays, the price is against you. Variational Omni is 0.035% cheaper against Nado than usual: you would sell low and buy high (spread −0.035% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$4 on $10k: about 22 hours of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado LLY-PERP	1,166.8	−0.0027	get 0.0003% / 1h	36m 06s	$39K	$251	10x
Short	Variational Omni LLY	1,166.4	0.0104	get 0.0104% / 8h	36m 06s	$191K	$19K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Nado. 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 NadobpFee Variational OmnibpOrdersPrice spread, now −0.035%Rate

Funding earned: $27.52
Price spread: −0.035% → 0.000%: −$3.55
Slippage, 4 orders: no order book: not counted
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $16.97
Costs to cover: 0.070%
Break-even: 2.7 days

Slippage unknown: Nado: no order-book sample; Variational Omni: RFQ quote, 43 min ago. 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 Nado no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 43 min ago	6.30 bp	doesn't fit	50.6 bp −$506	doesn't fit	doesn't fit

Nado: 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
Nado LLY-PERPlong	−0.0027%	1h	1,166.8	long leg	$39K	$251	10x
Bybit LLYUSDT	0.0000%	8h	1,166.3	−0.049%	$1.3M	$636K	25x	as long as short
OKX LLY-USDT-SWAP	0.0000%	8h	1,166.2	−0.054%	$819K	$571K	20x	as long as short
Gate LLY_USDT	0.0000%	8h	1,166.2	−0.053%	$1.3M	$899K	25x	as long as short
Bitget LLYUSDT	0.0000%	8h	1,166.8	−0.002%	$2.3M	$176K	20x	as long as short
SunX LLY-USDT	0.0000%	8h	1,166.4	−0.036%	$1K	$6.6M	10x	as long as short
HTX LLY-USDT	0.0000%	8h	1,165.4	−0.126%	$5K	$40K	20x	as long as short
Aftermath Perps LLYUSD	+0.0003%	1h	1,166.5	−0.028%	$47K	$42K	5x	as long as short
QFEX LLY-USD	+0.0023%	1h	1,165.5	−0.114%	$1.2M	$5.1M	10x	as long as short
Vest LLY-USD-PERP	+0.0046%	1h	1,165.9	−0.077%	—	—	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	1,166.7	−0.011%	$8.6M	$1.1M	10x	as long as short
Aster LLYUSDT	+0.0074%	8h	1,166.1	−0.063%	$24K	$3K	20x	as long as short
KuCoin LLYUSDTM	+0.0100%	8h	1,166.2	−0.054%	$138K	$81K	20x	as long as short
Variational Omni LLYshort	+0.0104%	8h	1,166.4	−0.035%	$191K	$19K	—
Injective LLY/USDC PERP	+0.0220%	1h	1,178.1	+0.966%	$10K	$21K	12x	as long as short
Binance LLYUSDT	+0.0271%	8h	1,166.5	−0.031%	$2.0M	$3.1M	20x	as long as short
BloFin LLY-USDT	+0.0294%	8h	1,166.7	−0.015%	$84K	$85K	20x	as long as short
Phoenix LLY	+0.0343%	1h	1,167.3	+0.041%	$1K	$7K	10x	as long as short
GRVT LLY_USDT_Perp	+0.0448%	8h	1,166.3	−0.042%	$840	$207K	10x	as long as short