Funding arb · Price arb /

LLY

RWAall LLY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0220%/8h= +24.1% APRpaid last 24h +0.057%

Price spread now: Injective against Bybit+1.137%78s7-day average — · you sell dearer than you buy

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

Long on Bybit Short on Injective

What this pair did over the last

the charts below follow

Funding, last 4 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

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Injective is 1.137% dearer against Bybit than usual: you sell high and buy low: +$114 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 78 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit LLYUSDT	1,162.6	0	get 0.0000% / 8h	5h 25m	$1.3M	$581K	25x
Short	Injective LLY/USDC PERP	1,175.8	0.0220	get 0.0028% / 1h	25m 59s	$7K	$24K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Bybit. 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 BybitbpFee InjectivebpOrdersPrice spread, now +1.137%Rate

Funding earned: $46.2
Price spread: +1.137% → 0.000%: $113.71
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $148.89
Costs to cover: 0.110%
Break-even: from the start

Slippage unknown: Bybit: live order book, 5 min ago; Injective: 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 Bybit live order book, 5 min ago	6.75 bp	31.7 bp −$32	697.4 bp −$6,974	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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
Bybit LLYUSDTlong	0.0000%	8h	1,162.6	long leg	$1.3M	$581K	25x
OKX LLY-USDT-SWAP	0.0000%	8h	1,163.5	+0.079%	$792K	$645K	20x	as long as short
Gate LLY_USDT	0.0000%	8h	1,162.8	+0.022%	$1.3M	$903K	25x	as long as short
Bitget LLYUSDT	0.0000%	8h	1,163.5	+0.077%	$2.3M	$176K	20x	as long as short
Variational Omni LLY	0.0000%	8h	1,163.1	+0.045%	$192K	$18K	—	as long as short
GRVT LLY_USDT_Perp	0.0000%	8h	1,164	+0.120%	$268	$189K	10x	as long as short
SunX LLY-USDT	0.0000%	8h	1,163.3	+0.062%	$2K	$6.0M	10x	as long as short
HTX LLY-USDT	0.0000%	8h	1,161	−0.135%	$6K	$40K	20x	as long as short
Aftermath Perps LLYUSD	+0.0018%	1h	1,162.6	0.000%	$47K	$41K	5x	as long as short
Aster LLYUSDT	+0.0024%	8h	1,163	+0.040%	$23K	$3K	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-USD	+0.0043%	1h	1,163.2	+0.053%	$1.2M	$4.6M	10x	as long as short
Vest LLY-USD-PERP	+0.0046%	1h	1,162.4	−0.017%	—	—	25x	as long as short
tradeXYZ xyz:LLY	+0.0053%	1h	1,162.7	+0.010%	$8.7M	$1.2M	10x	as long as short
BloFin LLY-USDT	+0.0079%	8h	1,163.4	+0.071%	$84K	$84K	20x	as long as short
KuCoin LLYUSDTM	+0.0100%	8h	1,163.2	+0.053%	$137K	$73K	20x	as long as short
Binance LLYUSDT	+0.0100%	8h	1,163.3	+0.058%	$2.0M	$3.1M	20x	as long as short
Nado LLY-PERP	+0.0126%	1h	1,162.6	−0.002%	$39K	$251	10x	as long as short
Injective LLY/USDC PERPshort	+0.0220%	1h	1,175.8	+1.137%	$7K	$24K	12x
Phoenix LLY	+0.0343%	1h	1,164	+0.122%	$1K	$7K	10x	as long as short