Funding arb · Price arb /

LLY

RWAall LLY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0011%/8h= −1.2% APRpaid last 24h +0.024%

Price spread now: Variational Omni against QFEX+0.032%7-day average −0.010% · you sell dearer than you buy

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

Long on QFEX Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.056%+$6 on $10k

Price spread, last 4 days (all we have)−0.009%−$1 · spread now +0.032%, 7d avg −0.010%

Together, before fees+0.047%+ Points / potential airdropVariational Omni: Active · farm board+$5 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Variational Omni is 0.042% dearer against QFEX than usual: you sell high and buy low (spread +0.032% now, against its 7-day average of −0.010%): +$4 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 13 days. Mind the row above: over the last 4 days funding on this pair paid +0.056%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX LLY-USD	1,165.8	0.0011	pay 0.0001% / 1h	25m 26s	$1.2M	$3.8M	10x
Short	Variational Omni LLY	1,166.2	0	get 0.0000% / 8h	2h 25m	$193K	$16K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against QFEX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpOrdersPrice spread, now +0.032%Rate

Funding earned: −$2.3
Price spread: +0.032% → −0.010%: $4.17
Slippage, 4 orders: no order book: not counted
Fee QFEX: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$8.13
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: QFEX: live order book, 3 min ago; Variational Omni: RFQ quote, 24 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 QFEX live order book, 3 min ago	27.11 bp	33.0 bp −$33	37.9 bp −$379	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 24 min ago	3.43 bp	doesn't fit	60.1 bp −$601	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
BloFin LLY-USDT	−0.0002%	8h	1,166.2	+0.033%	$84K	$86K	20x	as long as short
Aster LLYUSDT	0.0000%	8h	1,166	+0.015%	$24K	$3K	20x	as long as short
Binance LLYUSDT	0.0000%	8h	1,166.3	+0.037%	$2.0M	$3.1M	20x	as long as short
Bybit LLYUSDT	0.0000%	8h	1,166.1	+0.024%	$1.3M	$398K	25x	as long as short
OKX LLY-USDT-SWAP	0.0000%	8h	1,165.5	−0.029%	$790K	$568K	20x	as long as short
Gate LLY_USDT	0.0000%	8h	1,165.8	−0.008%	$1.3M	$829K	25x	as long as short
Bitget LLYUSDT	0.0000%	8h	1,166.4	+0.048%	$2.3M	$169K	20x	as long as short
Variational Omni LLYshort	0.0000%	8h	1,166.2	+0.032%	$193K	$16K	—
GRVT LLY_USDT_Perp	0.0000%	8h	1,165.9	+0.004%	$222	$180K	10x	as long as short
SunX LLY-USDT	0.0000%	8h	1,166.3	+0.039%	$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	1,165.4	−0.038%	$6K	$41K	20x	as long as short
QFEX LLY-USDlong	+0.0011%	1h	1,165.8	long leg	$1.2M	$3.8M	10x
Aftermath Perps LLYUSD	+0.0014%	1h	1,165.7	−0.012%	$47K	$40K	5x	as long as short
Vest LLY-USD-PERP	+0.0046%	1h	1,166.4	+0.045%	—	—	25x	as long as short
tradeXYZ xyz:LLY	+0.0050%	1h	1,165.5	−0.029%	$8.7M	$1.2M	10x	as long as short
KuCoin LLYUSDTM	+0.0100%	8h	1,165.8	−0.003%	$137K	$71K	20x	as long as short
Nado LLY-PERP	+0.0202%	1h	1,165.5	−0.025%	$39K	$251	10x	as long as short
Injective LLY/USDC PERP	+0.0220%	1h	1,177.3	+0.983%	$7K	$24K	12x	as long as short
Phoenix LLY	+0.0274%	1h	1,166.4	+0.048%	$1K	$7K	10x	as long as short