Funding arb · Price arb /

LLY

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0187%/8h= +20.5% APRpaid last 24h −0.041%

Price spread now: Variational Omni against Nado−0.047%7-day average — · you buy dearer than you sell

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

Long on Nado Short on Variational Omni

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—+ Points / potential airdropNado: Active · Variational Omni: Active · farm boardneeds both histories

Funding pays, the price is against you. Variational Omni is 0.047% cheaper against Nado than usual: you would sell low and buy high (spread −0.047% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 20 hours of funding at the current rate (+$6 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado LLY-PERP	1,166.3	−0.0187	get 0.0023% / 1h	37m 31s	$39K	$251	10x
Short	Variational Omni LLY	1,165.8	0	get 0.0000% / 8h	7h 37m	$191K	$20K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Nado. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 NadobpFee Variational OmnibpOrdersPrice spread, now −0.047%Rate

Funding earned: $39.27
Price spread: −0.047% → 0.000%: −$4.68
Slippage, 4 orders: no order book: not counted
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $27.59
Costs to cover: 0.070%
Break-even: 2.1 days

Slippage unknown: Nado: no order-book sample; Variational Omni: RFQ quote, 61 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 Nado no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 61 min ago	3.52 bp	doesn't fit	65.8 bp −$658	doesn't fit	doesn't fit

Nado: 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
Nado LLY-PERPlong	−0.0187%	1h	1,166.3	long leg	$39K	$251	10x
tradeXYZ xyz:LLY	−0.0003%	1h	1,165.9	−0.035%	$8.7M	$1.1M	10x	as long as short
Aster LLYUSDT	0.0000%	8h	1,165.9	−0.038%	$24K	$3K	20x	as long as short
Binance LLYUSDT	0.0000%	8h	1,165.8	−0.041%	$2.0M	$3.1M	20x	as long as short
Bybit LLYUSDT	0.0000%	8h	1,166.4	+0.012%	$1.3M	$303K	25x	as long as short
OKX LLY-USDT-SWAP	0.0000%	8h	1,165.8	−0.043%	$795K	$563K	20x	as long as short
Gate LLY_USDT	0.0000%	8h	1,165.8	−0.047%	$1.3M	$641K	25x	as long as short
Bitget LLYUSDT	0.0000%	8h	1,166.1	−0.020%	$2.3M	$130K	20x	as long as short
Variational Omni LLYshort	0.0000%	8h	1,165.8	−0.047%	$191K	$20K	—
GRVT LLY_USDT_Perp	0.0000%	8h	1,166	−0.027%	$222	$166K	10x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX LLY-USDT	0.0000%	8h	1,165.7	−0.052%	$1K	$5.4M	10x	as long as short
HTX LLY-USDT	0.0000%	8h	1,165.9	−0.032%	$5K	$41K	20x	as long as short
BloFin LLY-USDT	+0.0001%	8h	1,165.8	−0.047%	$84K	$85K	20x	as long as short
Aftermath Perps LLYUSD	+0.0017%	1h	1,165.7	−0.054%	$47K	$33K	5x	as long as short
QFEX LLY-USD	+0.0035%	1h	1,165.3	−0.089%	$1.2M	$3.0M	10x	as long as short
Vest LLY-USD-PERP	+0.0046%	1h	1,164.5	−0.158%	—	—	25x	as long as short
KuCoin LLYUSDTM	+0.0100%	8h	1,165.6	−0.060%	$137K	$102K	20x	as long as short
Injective LLY/USDC PERP	+0.0220%	1h	1,177.7	+0.977%	$7K	$24K	12x	as long as short
Phoenix LLY	+0.0412%	1h	1,166	−0.026%	$1K	$7K	10x	as long as short