Funding arb · Price arb /

LLY

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0220%/8h= −24.1% APRpaid last 24h −0.066%

Price spread now: SunX against Injective−1.013%7-day average — · you buy dearer than you sell

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

Long on Injective Short on SunX

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 against this trade now: funding costs −$7 a day on $10k at the current rate, and SunX is 1.013% cheaper against Injective than usual: you would sell low and buy high (−$101 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective LLY/USDC PERP	1,175.1	0.0220	pay 0.0028% / 1h	36m 26s	$7K	$24K	12x
Short	SunX LLY-USDT	1,163.2	0	get 0.0000% / 8h	4h 36m	$2K	$5.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against Injective. 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 InjectivebpFee SunXbpOrdersPrice spread, now −1.013%Rate

Funding earned: −$46.2
Price spread: −1.013% → 0.000%: −$101.27
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee SunX: 4 bp × 2 orders: −$8
Net: −$155.49
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; SunX: live order book, 12 min ago. 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 Injective no order-book sample	—	—	—	—	—
Sell SunX live order book, 12 min ago	45.99 bp	72.6 bp −$73	doesn't fit	doesn't fit	doesn't fit

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
Aster LLYUSDT	0.0000%	8h	1,163	−1.027%	$23K	$3K	20x	as long as short
Bybit LLYUSDT	0.0000%	8h	1,162.2	−1.099%	$1.3M	$573K	25x	as long as short
OKX LLY-USDT-SWAP	0.0000%	8h	1,162.2	−1.098%	$789K	$643K	20x	as long as short
Gate LLY_USDT	0.0000%	8h	1,162.8	−1.043%	$1.3M	$879K	25x	as long as short
Bitget LLYUSDT	0.0000%	8h	1,163.5	−0.985%	$2.3M	$169K	20x	as long as short
Variational Omni LLY	0.0000%	8h	1,163	−1.028%	$192K	$18K	—	as long as short
GRVT LLY_USDT_Perp	0.0000%	8h	1,163.1	−1.019%	$233	$186K	10x	as long as short
SunX LLY-USDTshort	0.0000%	8h	1,163.2	−1.013%	$2K	$5.9M	10x
HTX LLY-USDT	0.0000%	8h	1,161.1	−1.191%	$5K	$40K	20x	as long as short
BloFin LLY-USDT	+0.0004%	8h	1,163.1	−1.021%	$84K	$85K	20x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps LLYUSD	+0.0015%	1h	1,163	−1.034%	$47K	$41K	5x	as long as short
Binance LLYUSDT	+0.0032%	8h	1,163.1	−1.022%	$2.0M	$3.1M	20x	as long as short
QFEX LLY-USD	+0.0035%	1h	1,163.1	−1.023%	$1.2M	$4.3M	10x	as long as short
Vest LLY-USD-PERP	+0.0046%	1h	1,162.4	−1.083%	—	—	25x	as long as short
tradeXYZ xyz:LLY	+0.0050%	1h	1,162.7	−1.055%	$8.7M	$1.2M	10x	as long as short
Nado LLY-PERP	+0.0099%	1h	1,162.5	−1.071%	$39K	$251	10x	as long as short
KuCoin LLYUSDTM	+0.0100%	8h	1,162.9	−1.038%	$137K	$73K	20x	as long as short
Injective LLY/USDC PERPlong	+0.0220%	1h	1,175.1	long leg	$7K	$24K	12x
Phoenix LLY	+0.0275%	1h	1,162.9	−1.038%	$1K	$7K	10x	as long as short