Funding arb · Price arb /

LLY

RWAall LLY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0043%/8h= −4.7% APRpaid last 24h −0.002%

Price spread now: Bybit against QFEX−0.062%7-day average +0.044% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$471as in the Price arb table

costs, in and out, $10k−$4604.604% of the position

Long on QFEX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)0.000%$0 on $10k

Price spread, last 7 days+0.039%+$4 · spread now −0.062%, 7d avg +0.044%

Together, before fees+0.039%+$4 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Bybit is 0.106% cheaper against QFEX than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of +0.044%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX LLY-USD	1,163.8	0.0043	pay 0.0005% / 1h	2m 37s	$1.2M	$4.5M	10x
Short	Bybit LLYUSDT	1,163.1	0	get 0.0000% / 8h	5h 02m	$1.3M	$581K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against QFEX. 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 QFEXbpFee BybitbpOrdersPrice spread, now −0.062%Rate

Funding earned: −$9.06
Price spread: −0.062% → +0.044%: −$10.62
Slippage, 4 orders: −$439.42
Fee QFEX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$480.1
Costs to cover: 4.604%
Break-even: never at this rate

Slippage from QFEX: live order book, 6 min ago; Bybit: 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 QFEX live order book, 6 min ago	202.10 bp	208.1 bp −$208	212.9 bp −$2,129	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	5.72 bp	14.3 bp −$14	doesn't fit	doesn't fit	doesn't fit

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
Bybit LLYUSDTshort	0.0000%	8h	1,163.1	−0.062%	$1.3M	$581K	25x
OKX LLY-USDT-SWAP	0.0000%	8h	1,163.4	−0.038%	$792K	$644K	20x	as long as short
Gate LLY_USDT	0.0000%	8h	1,163.7	−0.010%	$1.3M	$904K	25x	as long as short
Bitget LLYUSDT	0.0000%	8h	1,163.7	−0.013%	$2.3M	$176K	20x	as long as short
Variational Omni LLY	0.0000%	8h	1,164	+0.017%	$192K	$18K	—	as long as short
GRVT LLY_USDT_Perp	0.0000%	8h	1,163.8	−0.007%	$221	$188K	10x	as long as short
SunX LLY-USDT	0.0000%	8h	1,163.7	−0.012%	$1K	$6.0M	10x	as long as short
HTX LLY-USDT	0.0000%	8h	1,162.5	−0.119%	$5K	$40K	20x	as long as short
Aster LLYUSDT	+0.0013%	8h	1,163.5	−0.030%	$24K	$3K	20x	as long as short
Aftermath Perps LLYUSD	+0.0016%	1h	1,162.7	−0.098%	$47K	$41K	5x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX LLY-USDlong	+0.0043%	1h	1,163.8	long leg	$1.2M	$4.5M	10x
Vest LLY-USD-PERP	+0.0046%	1h	1,162.7	−0.100%	—	—	25x	as long as short
Binance LLYUSDT	+0.0072%	8h	1,163.9	+0.001%	$2.0M	$3.1M	20x	as long as short
tradeXYZ xyz:LLY	+0.0073%	1h	1,162.9	−0.081%	$8.7M	$1.2M	10x	as long as short
BloFin LLY-USDT	+0.0093%	8h	1,163.8	−0.001%	$84K	$84K	20x	as long as short
KuCoin LLYUSDTM	+0.0100%	8h	1,163.6	−0.021%	$137K	$73K	20x	as long as short
Nado LLY-PERP	+0.0142%	1h	1,163.2	−0.051%	$39K	$251	10x	as long as short
Injective LLY/USDC PERP	+0.0220%	1h	1,175.2	+0.976%	$7K	$24K	12x	as long as short
Phoenix LLY	+0.0343%	1h	1,164.4	+0.048%	$1K	$7K	10x	as long as short