Funding arb · Price arb /

LLY

RWAall LLY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0206%/8h= +22.5% APRpaid last 24h +0.085%

Price spread now: Phoenix against HTX+0.189%72s7-day average — · you sell dearer than you buy

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

Long on HTX 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

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Phoenix is 0.189% dearer against HTX than usual: you sell high and buy low: +$19 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 72 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	HTX LLY-USDT	1,161	0	get 0.0000% / 8h	7h 01m	$6K	$40K	20x
Short	Phoenix LLY	1,163.2	0.0206	get 0.0026% / 1h	1m 37s	$1K	$7K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against HTX. 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 HTXbpFee PhoenixbpOrdersPrice spread, now +0.189%Rate

Funding earned: $43.2
Price spread: +0.189% → 0.000%: $18.86
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $43.06
Costs to cover: 0.190%
Break-even: 0.0 days

Slippage unknown: HTX: no order-book sample; 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 HTX no order-book sample	—	—	—	—	—
Sell Phoenix no order-book sample	—	—	—	—	—

HTX and 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
Bybit LLYUSDT	0.0000%	8h	1,162.9	+0.165%	$1.3M	$582K	25x	as long as short
OKX LLY-USDT-SWAP	0.0000%	8h	1,163.6	+0.223%	$793K	$630K	20x	as long as short
Gate LLY_USDT	0.0000%	8h	1,162.8	+0.156%	$1.3M	$905K	25x	as long as short
Bitget LLYUSDT	0.0000%	8h	1,164.1	+0.265%	$2.3M	$177K	20x	as long as short
GRVT LLY_USDT_Perp	0.0000%	8h	1,162.9	+0.159%	$221	$194K	10x	as long as short
SunX LLY-USDT	0.0000%	8h	1,163	+0.171%	$2K	$6.2M	10x	as long as short
HTX LLY-USDTlong	0.0000%	8h	1,161	long leg	$6K	$40K	20x
QFEX LLY-USD	+0.0004%	1h	1,162.7	+0.149%	$1.2M	$4.9M	10x	as long as short
Aftermath Perps LLYUSD	+0.0009%	1h	1,162.5	+0.128%	$47K	$42K	5x	as long as short
Aster LLYUSDT	+0.0043%	8h	1,163.1	+0.184%	$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
Vest LLY-USD-PERP	+0.0046%	1h	1,162.1	+0.095%	—	—	25x	as long as short
Variational Omni LLY	+0.0071%	8h	1,162.9	+0.163%	$191K	$17K	—	as long as short
KuCoin LLYUSDTM	+0.0100%	8h	1,163.2	+0.189%	$137K	$75K	20x	as long as short
tradeXYZ xyz:LLY	+0.0151%	1h	1,162.4	+0.120%	$8.6M	$1.2M	10x	as long as short
Binance LLYUSDT	+0.0178%	8h	1,163.2	+0.188%	$2.0M	$3.1M	20x	as long as short
BloFin LLY-USDT	+0.0183%	8h	1,163	+0.175%	$84K	$85K	20x	as long as short
Nado LLY-PERP	+0.0190%	1h	1,163	+0.169%	$39K	$251	10x	as long as short
Phoenix LLYshort	+0.0206%	1h	1,163.2	+0.189%	$1K	$7K	10x
Injective LLY/USDC PERP	+0.0220%	1h	1,176.6	+1.343%	$7K	$24K	12x	as long as short