Funding arb · Price arb /

LLY

RWAall LLY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.012%

Price spread now: QFEX against SunX+0.022%7-day average −0.002% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$144as in the Price arb table

costs, in and out, $10k−$1471.468% of the position

Long on SunX Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.017%+$2 on $10k

Price spread, last 3 days (all we have)−0.079%−$8 · spread now +0.022%, 7d avg −0.002%

Together, before fees−0.062%−$6 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: QFEX is 0.024% dearer against SunX than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of −0.002%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX LLY-USDT	1,165.6	0	get 0.0000% / 8h	7h 47m	$1K	$6.4M	10x
Short	QFEX LLY-USD	1,165.9	0.0004	get 0.0000% / 1h	47m 47s	$1.2M	$5.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against SunX. 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 SunXbpFee QFEXbpOrdersPrice spread, now +0.022%Rate

Funding earned: $0.74
Price spread: +0.022% → −0.002%: $2.4
Slippage, 4 orders: −$128.85
Fee SunX: 4 bp × 2 orders: −$8
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$143.71
Costs to cover: 1.468%
Break-even: 1367.9 days

Slippage from SunX: live order book, 11 min ago; QFEX: live order book, 6 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 SunX live order book, 11 min ago	46.72 bp	64.7 bp −$65	doesn't fit	doesn't fit	doesn't fit
Sell QFEX live order book, 6 min ago	2.10 bp	8.2 bp −$8	14.0 bp −$140	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 LLYUSDT	0.0000%	8h	1,165.5	−0.009%	$1.3M	$625K	25x	as long as short
OKX LLY-USDT-SWAP	0.0000%	8h	1,166.3	+0.060%	$818K	$575K	20x	as long as short
Gate LLY_USDT	0.0000%	8h	1,165.8	+0.014%	$1.3M	$896K	25x	as long as short
Bitget LLYUSDT	0.0000%	8h	1,166.3	+0.060%	$2.3M	$178K	20x	as long as short
GRVT LLY_USDT_Perp	0.0000%	8h	1,166	+0.036%	$257	$201K	10x	as long as short
SunX LLY-USDTlong	0.0000%	8h	1,165.6	long leg	$1K	$6.4M	10x
HTX LLY-USDT	0.0000%	8h	1,163.8	−0.159%	$5K	$41K	20x	as long as short
QFEX LLY-USDshort	+0.0004%	1h	1,165.9	+0.022%	$1.2M	$5.2M	10x
Aftermath Perps LLYUSD	+0.0008%	1h	1,165.5	−0.010%	$47K	$42K	5x	as long as short
Vest LLY-USD-PERP	+0.0046%	1h	1,166	+0.036%	—	—	25x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:LLY	+0.0050%	1h	1,165.4	−0.017%	$8.6M	$1.1M	10x	as long as short
KuCoin LLYUSDTM	+0.0100%	8h	1,165.5	−0.009%	$138K	$77K	20x	as long as short
Nado LLY-PERP	+0.0113%	1h	1,165.1	−0.042%	$39K	$251	10x	as long as short
Aster LLYUSDT	+0.0146%	8h	1,165.8	+0.021%	$24K	$3K	20x	as long as short
Variational Omni LLY	+0.0169%	8h	1,166.1	+0.040%	$191K	$17K	—	as long as short
Phoenix LLY	+0.0206%	1h	1,166.3	+0.060%	$1K	$7K	10x	as long as short
Injective LLY/USDC PERP	+0.0220%	1h	1,178.3	+1.090%	$10K	$21K	12x	as long as short
BloFin LLY-USDT	+0.0298%	8h	1,165.8	+0.014%	$84K	$85K	20x	as long as short
Binance LLYUSDT	+0.0311%	8h	1,165.8	+0.015%	$2.0M	$3.1M	20x	as long as short