Funding arb · Price arb /

LLY

RWAall LLY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0293%/8h= −32.0% APRpaid last 24h −0.049%

Price spread now: BloFin against Phoenix+0.105%7-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 BloFin

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 pays, funding is against you. BloFin is 0.105% dearer against Phoenix than usual: you sell high and buy low (spread +0.105% now, against zero (this spread has no 7-day history yet)): +$11 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 29 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix LLY	1,158	0.0275	pay 0.0034% / 1h	16m 25s	$1K	$7K	10x
Short	BloFin LLY-USDT	1,159.2	−0.0018	pay 0.0018% / 8h	6h 16m	$85K	$86K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.105%Rate

Funding earned: −$61.45
Price spread: +0.105% → 0.000%: $10.54
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$69.91
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Phoenix: no order-book sample; BloFin: no order-book sample. 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 BloFin no order-book sample	—	—	—	—	—

Phoenix and BloFin: 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 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
BloFin LLY-USDTshort	−0.0018%	8h	1,159.2	+0.105%	$85K	$86K	20x
Aster LLYUSDT	0.0000%	8h	1,161.1	+0.271%	$23K	$3K	20x	as long as short
Binance LLYUSDT	0.0000%	8h	1,160.1	+0.182%	$2.0M	$3.3M	20x	as long as short
Bybit LLYUSDT	0.0000%	8h	1,159.7	+0.149%	$1.4M	$343K	25x	as long as short
OKX LLY-USDT-SWAP	0.0000%	8h	1,159.9	+0.164%	$805K	$581K	20x	as long as short
Gate LLY_USDT	0.0000%	8h	1,159.4	+0.123%	$1.3M	$614K	25x	as long as short
Bitget LLYUSDT	0.0000%	8h	1,160.3	+0.200%	$2.3M	$169K	20x	as long as short
Variational Omni LLY	0.0000%	8h	1,159	+0.084%	$190K	$20K	—	as long as short
GRVT LLY_USDT_Perp	0.0000%	8h	1,158.9	+0.075%	$220	$156K	10x	as long as short
SunX LLY-USDT	0.0000%	8h	1,159.2	+0.104%	$1K	$4.8M	10x	as long as short

Show all 19 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX LLY-USDT	0.0000%	8h	1,158.3	+0.022%	$5K	$42K	20x	as long as short
Aftermath Perps LLYUSD	+0.0019%	1h	1,158.6	+0.051%	$47K	$42K	5x	as long as short
Injective LLY/USDC PERP	+0.0033%	1h	1,160	+0.173%	$20K	$37K	12x	as long as short
Vest LLY-USD-PERP	+0.0046%	1h	1,158.8	+0.071%	—	—	25x	as long as short
tradeXYZ xyz:LLY	+0.0050%	1h	1,158.8	+0.069%	$8.7M	$1.2M	10x	as long as short
QFEX LLY-USD	+0.0075%	1h	1,159.8	+0.152%	$1.2M	$3.1M	10x	as long as short
Nado LLY-PERP	+0.0082%	1h	1,162	+0.345%	$39K	$251	10x	as long as short
KuCoin LLYUSDTM	+0.0100%	8h	1,158.5	+0.043%	$140K	$190K	20x	as long as short
Phoenix LLYlong	+0.0275%	1h	1,158	long leg	$1K	$7K	10x