Funding arb · Price arb /

LLY

RWAall LLY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0023%/8h= +2.5% APRpaid last 24h +0.012%

Price spread now: QFEX against Gate+0.009%7-day average +0.040% · 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−$57as in the Price arb table

costs, in and out, $10k−$540.544% of the position

Long on Gate 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 7 days+0.067%+$7 · spread now +0.009%, 7d avg +0.040%

Together, before fees+0.084%+$8 on $10k · with fees, hour by hour

Funding pays, the price is against you. QFEX is 0.031% cheaper against Gate than usual: you would sell low and buy high (spread +0.009% now, against its 7-day average of +0.040%). If the spread goes back, that is −$3 on $10k: about 4.4 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate LLY_USDT	1,166.2	0	get 0.0000% / 8h	42m 12s	$1.3M	$898K	25x
Short	QFEX LLY-USD	1,166.3	0.0023	get 0.0003% / 1h	42m 12s	$1.2M	$5.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against Gate. 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 GatebpFee QFEXbpOrdersPrice spread, now +0.009%Rate

Funding earned: $4.86
Price spread: +0.009% → +0.040%: −$3.05
Slippage, 4 orders: −$29.39
Fee Gate: 7.5 bp × 2 orders: −$15
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$52.58
Costs to cover: 0.544%
Break-even: 82.8 days

Slippage from Gate: live order book, 5 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 Gate live order book, 5 min ago	7.89 bp	19.7 bp −$20	doesn't fit	doesn't fit	doesn't fit
Sell QFEX live order book, 6 min ago	2.14 bp	7.1 bp −$7	14.4 bp −$144	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
Nado LLY-PERP	−0.0029%	1h	1,166.7	+0.047%	$39K	$251	10x	as long as short
Bybit LLYUSDT	0.0000%	8h	1,166.4	+0.019%	$1.3M	$636K	25x	as long as short
OKX LLY-USDT-SWAP	0.0000%	8h	1,166.2	0.000%	$819K	$571K	20x	as long as short
Gate LLY_USDTlong	0.0000%	8h	1,166.2	long leg	$1.3M	$898K	25x
Bitget LLYUSDT	0.0000%	8h	1,166.6	+0.034%	$2.3M	$176K	20x	as long as short
SunX LLY-USDT	0.0000%	8h	1,166.2	0.000%	$1K	$6.6M	10x	as long as short
HTX LLY-USDT	0.0000%	8h	1,164.9	−0.108%	$6K	$40K	20x	as long as short
Aftermath Perps LLYUSD	+0.0005%	1h	1,166.2	−0.004%	$47K	$41K	5x	as long as short
QFEX LLY-USDshort	+0.0023%	1h	1,166.3	+0.009%	$1.2M	$5.1M	10x
Vest LLY-USD-PERP	+0.0046%	1h	1,166.7	+0.042%	—	—	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	1,166.4	+0.017%	$8.6M	$1.1M	10x	as long as short
Aster LLYUSDT	+0.0069%	8h	1,166.3	+0.012%	$24K	$3K	20x	as long as short
KuCoin LLYUSDTM	+0.0100%	8h	1,166.2	0.000%	$138K	$81K	20x	as long as short
Variational Omni LLY	+0.0102%	8h	1,166.2	−0.003%	$191K	$19K	—	as long as short
Injective LLY/USDC PERP	+0.0220%	1h	1,178.1	+1.020%	$10K	$21K	12x	as long as short
BloFin LLY-USDT	+0.0248%	8h	1,166.6	+0.033%	$84K	$85K	20x	as long as short
Binance LLYUSDT	+0.0270%	8h	1,166.4	+0.020%	$2.0M	$3.1M	20x	as long as short
Phoenix LLY	+0.0343%	1h	1,167.5	+0.111%	$1K	$7K	10x	as long as short
GRVT LLY_USDT_Perp	+0.0454%	8h	1,166.3	+0.011%	$840	$207K	10x	as long as short