Funding arb · Price arb /

LLY

RWAall LLY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0075%/8h= +8.3% APRpaid last 24h +0.009%

Price spread now: QFEX against OKX+0.084%54s7-day average +0.006% · 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—prices read too far apart to compare

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

Long on OKX Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.020%+$2 on $10k

Price spread, last 4 days (all we have)−0.299%−$30 · spread now +0.084%, 7d avg +0.006%

Together, before fees−0.279%−$28 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and QFEX is 0.077% dearer against OKX than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.006%. The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX LLY-USDT-SWAP	1,159.8	0	get 0.0000% / 8h	6h 02m	$810K	$581K	20x
Short	QFEX LLY-USD	1,160.8	0.0075	get 0.0009% / 1h	2m 45s	$1.2M	$3.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against OKX. 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 OKXbpFee QFEXbpOrdersPrice spread, now +0.084%Rate

Funding earned: $15.84
Price spread: +0.084% → +0.006%: $7.73
Slippage, 4 orders: −$46.23
Fee OKX: 5 bp × 2 orders: −$10
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$42.67
Costs to cover: 0.662%
Break-even: 25.9 days

Slippage from OKX: live order book, 46 min ago; QFEX: live order book, 3 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 OKX live order book, 46 min ago	3.43 bp	16.9 bp −$17	351.2 bp −$3,512	doesn't fit	doesn't fit
Sell QFEX live order book, 3 min ago	1.12 bp	7.5 bp −$8	13.6 bp −$136	doesn't fit	doesn't fit

LLY on 19 exchanges

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-PERP	−0.0072%	1h	1,163.2	+0.290%	$39K	$251	10x	as long as short
BloFin LLY-USDT	−0.0014%	8h	1,162.3	+0.215%	$38K	$86K	20x	as long as short
Aster LLYUSDT	0.0000%	8h	1,159.9	+0.010%	$23K	$3K	20x	as long as short
Binance LLYUSDT	0.0000%	8h	1,159.9	+0.006%	$2.0M	$3.4M	20x	as long as short
Bybit LLYUSDT	0.0000%	8h	1,159.2	−0.048%	$1.4M	$428K	25x	as long as short
OKX LLY-USDT-SWAPlong	0.0000%	8h	1,159.8	long leg	$810K	$581K	20x
Gate LLY_USDT	0.0000%	8h	1,159.6	−0.016%	$1.3M	$621K	25x	as long as short
Bitget LLYUSDT	0.0000%	8h	1,159.3	−0.041%	$2.3M	$180K	20x	as long as short
Variational Omni LLY	0.0000%	8h	1,160.7	+0.079%	$191K	$20K	—	as long as short
GRVT LLY_USDT_Perp	0.0000%	8h	1,160.5	+0.061%	$220	$155K	10x	as long as short

Show all 19 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX LLY-USDT	0.0000%	8h	1,162.2	+0.207%	$1K	$4.7M	10x	as long as short
HTX LLY-USDT	0.0000%	8h	1,160.8	+0.083%	$5K	$41K	20x	as long as short
Aftermath Perps LLYUSD	+0.0001%	1h	1,161.4	+0.139%	$47K	$42K	5x	as long as short
Injective LLY/USDC PERP	+0.0033%	1h	1,160	+0.017%	$20K	$37K	12x	as long as short
Vest LLY-USD-PERP	+0.0046%	1h	1,161	+0.100%	—	—	25x	as long as short
tradeXYZ xyz:LLY	+0.0050%	1h	1,158.1	−0.147%	$8.7M	$1.2M	10x	as long as short
QFEX LLY-USDshort	+0.0075%	1h	1,160.8	+0.084%	$1.2M	$3.1M	10x
KuCoin LLYUSDTM	+0.0100%	8h	1,160.1	+0.026%	$140K	$205K	20x	as long as short
Phoenix LLY	+0.0275%	1h	1,160.4	+0.052%	$1K	$7K	10x	as long as short