Funding arb · Price arb /

LLY

RWAall LLY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0274%/8h= −30.1% APRpaid last 24h −0.083%

Price spread now: Bitget against Phoenix+0.010%109s7-day average — · you sell dearer than you buy

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

Long on Phoenix Short on Bitget

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: −$8 a day on $10k at the current rate. The two prices were read 109 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	Phoenix LLY	1,165.6	0.0274	pay 0.0034% / 1h	5m 35s	$1K	$7K	10x
Short	Bitget LLYUSDT	1,165.7	0	get 0.0000% / 8h	2h 05m	$2.3M	$169K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.010%Rate

Funding earned: −$57.64
Price spread: +0.010% → 0.000%: $1.03
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$75.61
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Phoenix: no order-book sample; Bitget: live order book, 2 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 Bitget live order book, 2 min ago	6.95 bp	13.4 bp −$13	41.3 bp −$413	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
Aster LLYUSDT	0.0000%	8h	1,165.6	−0.002%	$24K	$3K	20x	as long as short
Binance LLYUSDT	0.0000%	8h	1,165.7	+0.012%	$2.0M	$3.2M	20x	as long as short
Bybit LLYUSDT	0.0000%	8h	1,165.2	−0.039%	$1.3M	$401K	25x	as long as short
OKX LLY-USDT-SWAP	0.0000%	8h	1,165	−0.051%	$789K	$569K	20x	as long as short
Gate LLY_USDT	0.0000%	8h	1,165.2	−0.033%	$1.3M	$833K	25x	as long as short
Bitget LLYUSDTshort	0.0000%	8h	1,165.7	+0.010%	$2.3M	$169K	20x
Variational Omni LLY	0.0000%	8h	1,165.5	−0.007%	$193K	$18K	—	as long as short
GRVT LLY_USDT_Perp	0.0000%	8h	1,165.5	−0.010%	$210	$180K	10x	as long as short
SunX LLY-USDT	0.0000%	8h	1,165.6	0.000%	$2K	$5.8M	10x	as long as short
HTX LLY-USDT	0.0000%	8h	1,163.9	−0.148%	$5K	$41K	20x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX LLY-USD	+0.0011%	1h	1,165.5	−0.007%	$1.2M	$3.7M	10x	as long as short
Aftermath Perps LLYUSD	+0.0019%	1h	1,165.2	−0.036%	$47K	$40K	5x	as long as short
BloFin LLY-USDT	+0.0021%	8h	1,165.4	−0.015%	$83K	$86K	20x	as long as short
Vest LLY-USD-PERP	+0.0046%	1h	1,165	−0.054%	—	—	25x	as long as short
tradeXYZ xyz:LLY	+0.0050%	1h	1,165	−0.051%	$8.7M	$1.2M	10x	as long as short
KuCoin LLYUSDTM	+0.0100%	8h	1,165.4	−0.017%	$139K	$71K	20x	as long as short
Injective LLY/USDC PERP	+0.0220%	1h	1,178	+1.064%	$7K	$24K	12x	as long as short
Nado LLY-PERP	+0.0225%	1h	1,164.9	−0.056%	$39K	$251	10x	as long as short
Phoenix LLYlong	+0.0274%	1h	1,165.6	long leg	$1K	$7K	10x