Funding arb · Price arb /

LLY

RWAall LLY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0412%/8h= +45.1% APRpaid last 24h +0.046%

Price spread now: Phoenix against Binance−0.005%7-day average — · you buy dearer than you sell

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

Long on Binance Short on Phoenix

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 sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$12 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance LLYUSDT	1,164.6	0	get 0.0000% / 8h	7h 19m	$2.0M	$3.0M	20x
Short	Phoenix LLY	1,164.5	0.0412	get 0.0051% / 1h	19m 02s	$1K	$7K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Binance. 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 BinancebpFee PhoenixbpOrdersPrice spread, now −0.005%Rate

Funding earned: $86.48
Price spread: −0.005% → 0.000%: −$0.52
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $68.96
Costs to cover: 0.170%
Break-even: 1.4 days

Slippage unknown: Binance: live order book, 1 min ago; Phoenix: no order-book sample. 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 Binance live order book, 1 min ago	2.15 bp	8.2 bp −$8	25.3 bp −$253	doesn't fit	doesn't fit
Sell Phoenix no order-book sample	—	—	—	—	—

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 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
Nado LLY-PERP	−0.0082%	1h	1,163.7	−0.073%	$39K	$251	10x	as long as short
Aster LLYUSDT	0.0000%	8h	1,164.4	−0.011%	$24K	$3K	20x	as long as short
Binance LLYUSDTlong	0.0000%	8h	1,164.6	long leg	$2.0M	$3.0M	20x
Bybit LLYUSDT	0.0000%	8h	1,164.2	−0.028%	$1.3M	$294K	25x	as long as short
OKX LLY-USDT-SWAP	0.0000%	8h	1,165	+0.038%	$794K	$558K	20x	as long as short
Gate LLY_USDT	0.0000%	8h	1,164.1	−0.041%	$1.3M	$643K	25x	as long as short
Bitget LLYUSDT	0.0000%	8h	1,164.6	+0.003%	$2.3M	$117K	20x	as long as short
Variational Omni LLY	0.0000%	8h	1,164.4	−0.012%	$191K	$20K	—	as long as short
GRVT LLY_USDT_Perp	0.0000%	8h	1,164.5	−0.009%	$233	$164K	10x	as long as short
SunX LLY-USDT	0.0000%	8h	1,164.5	−0.005%	$2K	$5.3M	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	1,163.9	−0.061%	$6K	$42K	20x	as long as short
BloFin LLY-USDT	+0.0017%	8h	1,164.8	+0.020%	$85K	$85K	20x	as long as short
Aftermath Perps LLYUSD	+0.0018%	1h	1,164.1	−0.041%	$47K	$27K	5x	as long as short
QFEX LLY-USD	+0.0035%	1h	1,164.3	−0.023%	$1.2M	$3.0M	10x	as long as short
Vest LLY-USD-PERP	+0.0046%	1h	1,162.3	−0.192%	—	—	25x	as long as short
tradeXYZ xyz:LLY	+0.0050%	1h	1,163.8	−0.065%	$8.6M	$1.1M	10x	as long as short
KuCoin LLYUSDTM	+0.0100%	8h	1,164.1	−0.040%	$136K	$120K	20x	as long as short
Injective LLY/USDC PERP	+0.0220%	1h	1,177.7	+1.128%	$7K	$24K	12x	as long as short
Phoenix LLYshort	+0.0412%	1h	1,164.5	−0.005%	$1K	$7K	10x