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 −0.015%

Price spread now: Binance against Phoenix−0.017%7-day average — · you buy dearer than you sell

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

Long on Phoenix Short on Binance

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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$10 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix LLY	1,165.6	0.0344	pay 0.0043% / 1h	17m 16s	$1K	$7K	10x
Short	Binance LLYUSDT	1,165.4	0	get 0.0000% / 8h	3h 17m	$2.0M	$3.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Phoenix. 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 PhoenixbpFee BinancebpOrdersPrice spread, now −0.017%Rate

Funding earned: −$72.18
Price spread: −0.017% → 0.000%: −$1.73
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Binance: 5 bp × 2 orders: −$10
Net: −$90.91
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Phoenix: no order-book sample; Binance: live order book, 3 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 Phoenix no order-book sample	—	—	—	—	—
Sell Binance live order book, 3 min ago	1.72 bp	6.9 bp −$7	31.4 bp −$314	doesn't fit	doesn't fit

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
BloFin LLY-USDT	−0.0018%	8h	1,165.5	−0.009%	$84K	$85K	20x	as long as short
Aster LLYUSDT	0.0000%	8h	1,165.5	−0.010%	$24K	$3K	20x	as long as short
Binance LLYUSDTshort	0.0000%	8h	1,165.4	−0.017%	$2.0M	$3.1M	20x
Bybit LLYUSDT	0.0000%	8h	1,165.2	−0.034%	$1.3M	$523K	25x	as long as short
OKX LLY-USDT-SWAP	0.0000%	8h	1,164.9	−0.060%	$790K	$605K	20x	as long as short
Gate LLY_USDT	0.0000%	8h	1,165	−0.049%	$1.3M	$853K	25x	as long as short
Bitget LLYUSDT	0.0000%	8h	1,165.5	−0.009%	$2.3M	$169K	20x	as long as short
Variational Omni LLY	0.0000%	8h	1,165.1	−0.042%	$192K	$16K	—	as long as short
GRVT LLY_USDT_Perp	0.0000%	8h	1,165.1	−0.039%	$221	$183K	10x	as long as short
SunX LLY-USDT	0.0000%	8h	1,165.3	−0.026%	$1K	$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	1,163.5	−0.178%	$5K	$41K	20x	as long as short
Aftermath Perps LLYUSD	+0.0016%	1h	1,164.8	−0.072%	$47K	$40K	5x	as long as short
QFEX LLY-USD	+0.0042%	1h	1,165.2	−0.034%	$1.2M	$3.9M	10x	as long as short
Vest LLY-USD-PERP	+0.0046%	1h	1,164.7	−0.078%	—	—	25x	as long as short
tradeXYZ xyz:LLY	+0.0078%	1h	1,164.8	−0.069%	$8.7M	$1.2M	10x	as long as short
KuCoin LLYUSDTM	+0.0100%	8h	1,165.2	−0.034%	$137K	$72K	20x	as long as short
Nado LLY-PERP	+0.0185%	1h	1,165.1	−0.045%	$39K	$251	10x	as long as short
Injective LLY/USDC PERP	+0.0220%	1h	1,176.8	+0.961%	$7K	$24K	12x	as long as short
Phoenix LLYlong	+0.0344%	1h	1,165.6	long leg	$1K	$7K	10x