Funding arb · Price arb /

LLY

RWAall LLY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0275%/8h= −30.1% APRpaid last 24h −0.082%

Price spread now: SunX against Phoenix+0.199%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 SunX

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. SunX is 0.199% dearer against Phoenix than usual: you sell high and buy low (spread +0.199% now, against zero (this spread has no 7-day history yet)): +$20 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 2.4 days.

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	15m 10s	$1K	$7K	10x
Short	SunX LLY-USDT	1,160.3	0	get 0.0000% / 8h	6h 15m	$2K	$4.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.199%Rate

Funding earned: −$57.66
Price spread: +0.199% → 0.000%: $19.86
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee SunX: 4 bp × 2 orders: −$8
Net: −$52.8
Costs to cover: 0.150%
Break-even: from the start

Slippage unknown: Phoenix: no order-book sample; SunX: live order book, 7 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 SunX live order book, 7 min ago	46.17 bp	65.3 bp −$65	doesn't fit	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 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
Aster LLYUSDT	0.0000%	8h	1,161.1	+0.265%	$23K	$3K	20x	as long as short
Binance LLYUSDT	0.0000%	8h	1,160.3	+0.202%	$2.0M	$3.3M	20x	as long as short
Bybit LLYUSDT	0.0000%	8h	1,160	+0.173%	$1.4M	$368K	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	1,159.6	+0.135%	$1.3M	$614K	25x	as long as short
Bitget LLYUSDT	0.0000%	8h	1,160.4	+0.204%	$2.3M	$169K	20x	as long as short
Variational Omni LLY	0.0000%	8h	1,160	+0.171%	$191K	$20K	—	as long as short
GRVT LLY_USDT_Perp	0.0000%	8h	1,159.1	+0.092%	$220	$156K	10x	as long as short
SunX LLY-USDTshort	0.0000%	8h	1,160.3	+0.199%	$2K	$4.8M	10x
HTX LLY-USDT	0.0000%	8h	1,160.3	+0.199%	$5K	$42K	20x	as long as short

Show all 19 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps LLYUSD	+0.0016%	1h	1,159.1	+0.092%	$47K	$42K	5x	as long as short
BloFin LLY-USDT	+0.0028%	8h	1,160.2	+0.193%	$85K	$86K	20x	as long as short
Injective LLY/USDC PERP	+0.0033%	1h	1,160	+0.173%	$20K	$37K	12x	as long as short
Nado LLY-PERP	+0.0044%	1h	1,162	+0.342%	$39K	$251	10x	as long as short
Vest LLY-USD-PERP	+0.0046%	1h	1,159.1	+0.093%	—	—	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	1,159.9	+0.162%	$1.2M	$3.1M	10x	as long as short
KuCoin LLYUSDTM	+0.0100%	8h	1,158.4	+0.035%	$140K	$191K	20x	as long as short
Phoenix LLYlong	+0.0275%	1h	1,158	long leg	$1K	$7K	10x