Funding arb · Price arb /

LLY

RWAall LLY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0089%/8h= −9.7% APRpaid last 24h −0.019%

Price spread now: QFEX against KuCoin+0.035%56s7-day average +0.012% · 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—prices read too far apart to compare

costs, in and out, $10k−$8518.508% of the position

Long on KuCoin Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.089%−$9 on $10k

Price spread, last 4 days (all we have)−0.081%−$8 · spread now +0.035%, 7d avg +0.012%

Together, before fees−0.171%−$17 on $10k · with fees, hour by hour

The price spread pays, funding is against you. QFEX is 0.023% dearer against KuCoin than usual: you sell high and buy low (spread +0.035% now, against its 7-day average of +0.012%): +$2 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 21 hours. The two prices were read 56 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	KuCoin LLYUSDTM	1,165.2	0.0100	pay 0.0100% / 8h	2h 09m	$139K	$71K	20x
Short	QFEX LLY-USD	1,165.6	0.0011	get 0.0001% / 1h	9m 41s	$1.2M	$3.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against KuCoin. 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 KuCoinbpFee QFEXbpOrdersPrice spread, now +0.035%Rate

Funding earned: −$18.7
Price spread: +0.035% → +0.012%: $2.32
Slippage, 4 orders: −$828.83
Fee KuCoin: 6 bp × 2 orders: −$12
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$867.21
Costs to cover: 8.508%
Break-even: never at this rate

Slippage from KuCoin: live order book, 40 min ago; QFEX: live order book, 4 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 KuCoin live order book, 40 min ago	10.30 bp	376.6 bp −$377	doesn't fit	doesn't fit	doesn't fit
Sell QFEX live order book, 4 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	1,165.3	+0.009%	$24K	$3K	20x	as long as short
Binance LLYUSDT	0.0000%	8h	1,165.7	+0.041%	$2.0M	$3.2M	20x	as long as short
Bybit LLYUSDT	0.0000%	8h	1,165.2	−0.001%	$1.3M	$401K	25x	as long as short
OKX LLY-USDT-SWAP	0.0000%	8h	1,165.7	+0.043%	$790K	$569K	20x	as long as short
Gate LLY_USDT	0.0000%	8h	1,165.3	+0.006%	$1.3M	$833K	25x	as long as short
Bitget LLYUSDT	0.0000%	8h	1,165.7	+0.045%	$2.3M	$169K	20x	as long as short
Variational Omni LLY	0.0000%	8h	1,165.5	+0.028%	$192K	$18K	—	as long as short
GRVT LLY_USDT_Perp	0.0000%	8h	1,165.4	+0.014%	$268	$180K	10x	as long as short
SunX LLY-USDT	0.0000%	8h	1,165.6	+0.034%	$2K	$5.8M	10x	as long as short
HTX LLY-USDT	0.0000%	8h	1,164.2	−0.084%	$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	+0.035%	$1.2M	$3.7M	10x
Aftermath Perps LLYUSD	+0.0018%	1h	1,165.3	+0.004%	$47K	$40K	5x	as long as short
BloFin LLY-USDT	+0.0028%	8h	1,165.6	+0.037%	$83K	$86K	20x	as long as short
Vest LLY-USD-PERP	+0.0046%	1h	1,164.9	−0.024%	—	—	25x	as long as short
tradeXYZ xyz:LLY	+0.0050%	1h	1,165.1	−0.009%	$8.7M	$1.2M	10x	as long as short
KuCoin LLYUSDTMlong	+0.0100%	8h	1,165.2	long leg	$139K	$71K	20x
Nado LLY-PERP	+0.0219%	1h	1,164.7	−0.039%	$39K	$251	10x	as long as short
Injective LLY/USDC PERP	+0.0220%	1h	1,178	+1.099%	$7K	$24K	12x	as long as short
Phoenix LLY	+0.0274%	1h	1,165.8	+0.051%	$1K	$7K	10x	as long as short