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 −0.057%

Price spread now: QFEX against Binance−0.005%7-day average −0.049% · 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−$38as in the Price arb table

costs, in and out, $10k−$430.426% of the position

Long on Binance Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.111%−$11 on $10k

Price spread, last 7 days−0.028%−$3 · spread now −0.005%, 7d avg −0.049%

Together, before fees−0.138%−$14 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays $0 a day on $10k at the current rate, and QFEX is 0.044% dearer against Binance than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.049%. Mind the row above: over the last 4 days funding on this pair cost −0.111%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance LLYUSDT	1,165.7	0	get 0.0000% / 8h	2h 10m	$2.0M	$3.2M	20x
Short	QFEX LLY-USD	1,165.6	0.0011	get 0.0001% / 1h	10m 40s	$1.2M	$3.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now −0.005%Rate

Funding earned: $2.3
Price spread: −0.005% → −0.049%: $4.39
Slippage, 4 orders: −$22.64
Fee Binance: 5 bp × 2 orders: −$10
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$35.95
Costs to cover: 0.426%
Break-even: 116.3 days

Slippage from Binance: live order book, 10 min ago; QFEX: 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 Binance live order book, 10 min ago	1.80 bp	16.0 bp −$16	36.0 bp −$360	doesn't fit	doesn't fit
Sell QFEX live order book, 3 min ago	2.10 bp	7.5 bp −$8	11.9 bp −$119	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
Aster LLYUSDT	0.0000%	8h	1,165.4	−0.025%	$24K	$3K	20x	as long as short
Binance LLYUSDTlong	0.0000%	8h	1,165.7	long leg	$2.0M	$3.2M	20x
Bybit LLYUSDT	0.0000%	8h	1,165.3	−0.033%	$1.3M	$401K	25x	as long as short
OKX LLY-USDT-SWAP	0.0000%	8h	1,165.4	−0.023%	$790K	$569K	20x	as long as short
Gate LLY_USDT	0.0000%	8h	1,165.3	−0.030%	$1.3M	$833K	25x	as long as short
Bitget LLYUSDT	0.0000%	8h	1,165.8	+0.015%	$2.3M	$169K	20x	as long as short
Variational Omni LLY	0.0000%	8h	1,165.5	−0.012%	$192K	$18K	—	as long as short
GRVT LLY_USDT_Perp	0.0000%	8h	1,165.4	−0.026%	$268	$180K	10x	as long as short
SunX LLY-USDT	0.0000%	8h	1,165.6	−0.006%	$2K	$5.8M	10x	as long as short
HTX LLY-USDT	0.0000%	8h	1,163.3	−0.205%	$5K	$41K	20x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX LLY-USDshort	+0.0011%	1h	1,165.6	−0.005%	$1.2M	$3.7M	10x
Aftermath Perps LLYUSD	+0.0018%	1h	1,165.5	−0.013%	$47K	$40K	5x	as long as short
BloFin LLY-USDT	+0.0028%	8h	1,165.6	−0.003%	$83K	$86K	20x	as long as short
Vest LLY-USD-PERP	+0.0046%	1h	1,164.7	−0.083%	—	—	25x	as long as short
tradeXYZ xyz:LLY	+0.0050%	1h	1,165.5	−0.014%	$8.7M	$1.2M	10x	as long as short
KuCoin LLYUSDTM	+0.0100%	8h	1,165.2	−0.040%	$139K	$71K	20x	as long as short
Nado LLY-PERP	+0.0217%	1h	1,164.7	−0.080%	$39K	$251	10x	as long as short
Injective LLY/USDC PERP	+0.0220%	1h	1,178	+1.058%	$7K	$24K	12x	as long as short
Phoenix LLY	+0.0274%	1h	1,165.8	+0.012%	$1K	$7K	10x	as long as short