Funding arb · Price arb /

LLY

RWAall LLY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0094%/8h= −10.2% APRpaid last 24h −0.021%

Price spread now: Bybit against tradeXYZ−0.028%7-day average +0.065% · you buy dearer than you sell

Net, funding: paid 7d − costs−$92as in the Funding arb table

Net, price: spread back to 7d avg − costs−$80as in the Price arb table

costs, in and out, $10k−$710.706% of the position

Long on tradeXYZ Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.210%−$21 on $10k

Price spread, last 7 days−0.001%$0 · spread now −0.028%, 7d avg +0.065%

Together, before fees−0.211%+ Points / potential airdroptradeXYZ: Active · farm board−$21 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Bybit is 0.093% cheaper against tradeXYZ than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of +0.065%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:LLY	1,163.6	0.0094	pay 0.0012% / 1h	14m 41s	$8.7M	$1.2M	10x
Short	Bybit LLYUSDT	1,163.3	0	get 0.0000% / 8h	6h 14m	$1.3M	$581K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against tradeXYZ. 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 tradeXYZbpFee BybitbpOrdersPrice spread, now −0.028%Rate

Funding earned: −$19.65
Price spread: −0.028% → +0.065%: −$9.33
Slippage, 4 orders: −$41.62
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$99.59
Costs to cover: 0.706%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 4 min ago; Bybit: live order book, 1 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 tradeXYZ live order book, 4 min ago	3.01 bp	17.0 bp −$17	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 1 min ago	5.46 bp	17.0 bp −$17	doesn't fit	doesn't fit	doesn't fit

LLY on 18 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	1,163.3	−0.028%	$1.3M	$581K	25x
OKX LLY-USDT-SWAP	0.0000%	8h	1,163.3	−0.026%	$792K	$644K	20x	as long as short
Gate LLY_USDT	0.0000%	8h	1,163.9	+0.025%	$1.3M	$905K	25x	as long as short
Bitget LLYUSDT	0.0000%	8h	1,164.1	+0.040%	$2.3M	$173K	20x	as long as short
GRVT LLY_USDT_Perp	0.0000%	8h	1,164.3	+0.062%	$233	$191K	10x	as long as short
SunX LLY-USDT	0.0000%	8h	1,164	+0.034%	$2K	$6.1M	10x	as long as short
HTX LLY-USDT	0.0000%	8h	1,163	−0.052%	$5K	$40K	20x	as long as short
Aftermath Perps LLYUSD	+0.0014%	1h	1,163.2	−0.031%	$47K	$41K	5x	as long as short
Variational Omni LLY	+0.0021%	8h	1,163.9	+0.024%	$192K	$18K	—	as long as short
QFEX LLY-USD	+0.0026%	1h	1,164	+0.032%	$1.2M	$4.7M	10x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest LLY-USD-PERP	+0.0046%	1h	1,162.2	−0.123%	—	—	25x	as long as short
Aster LLYUSDT	+0.0048%	8h	1,163.9	+0.026%	$24K	$3K	20x	as long as short
tradeXYZ xyz:LLYlong	+0.0094%	1h	1,163.6	long leg	$8.7M	$1.2M	10x
KuCoin LLYUSDTM	+0.0100%	8h	1,163.5	−0.009%	$137K	$75K	20x	as long as short
Binance LLYUSDT	+0.0155%	8h	1,164	+0.033%	$2.0M	$3.1M	20x	as long as short
Injective LLY/USDC PERP	+0.0220%	1h	1,176.1	+1.074%	$7K	$24K	12x	as long as short
Phoenix LLY	+0.0275%	1h	1,164.5	+0.077%	$1K	$7K	10x	as long as short
Nado LLY-PERP	+0.0282%	1h	1,162.8	−0.071%	$39K	$251	10x	as long as short