Funding arb · Price arb /

LLY

RWAall LLY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0239%/8h= −26.2% APRpaid last 24h −0.016%

Price spread now: Binance against Phoenix+0.018%55s7-day average — · you sell dearer than you buy

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

Long on Phoenix Short on Binance

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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$7 a day on $10k at the current rate. The two prices were read 55 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	Phoenix LLY	1,162.9	0.0275	pay 0.0034% / 1h	38m 32s	$1K	$7K	10x
Short	Binance LLYUSDT	1,163.1	0.0036	get 0.0036% / 8h	4h 38m	$2.0M	$3.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Phoenix. 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 PhoenixbpFee BinancebpOrdersPrice spread, now +0.018%Rate

Funding earned: −$50.24
Price spread: +0.018% → 0.000%: $1.81
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Binance: 5 bp × 2 orders: −$10
Net: −$65.43
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Phoenix: no order-book sample; Binance: 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 Phoenix no order-book sample	—	—	—	—	—
Sell Binance live order book, 12 min ago	2.02 bp	14.3 bp −$14	34.0 bp −$340	doesn't fit	doesn't fit

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
Aster LLYUSDT	0.0000%	8h	1,163.2	+0.029%	$23K	$3K	20x	as long as short
Bybit LLYUSDT	0.0000%	8h	1,162.6	−0.023%	$1.3M	$580K	25x	as long as short
OKX LLY-USDT-SWAP	0.0000%	8h	1,163.3	+0.034%	$791K	$645K	20x	as long as short
Gate LLY_USDT	0.0000%	8h	1,162.8	−0.009%	$1.3M	$879K	25x	as long as short
Bitget LLYUSDT	0.0000%	8h	1,163.5	+0.052%	$2.3M	$169K	20x	as long as short
Variational Omni LLY	0.0000%	8h	1,163	+0.011%	$192K	$18K	—	as long as short
GRVT LLY_USDT_Perp	0.0000%	8h	1,163.1	+0.019%	$233	$186K	10x	as long as short
SunX LLY-USDT	0.0000%	8h	1,163.2	+0.026%	$2K	$5.9M	10x	as long as short
HTX LLY-USDT	0.0000%	8h	1,162.2	−0.059%	$5K	$40K	20x	as long as short
Aftermath Perps LLYUSD	+0.0014%	1h	1,163.2	+0.024%	$47K	$41K	5x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX LLY-USD	+0.0035%	1h	1,163.1	+0.021%	$1.2M	$4.3M	10x	as long as short
Binance LLYUSDTshort	+0.0036%	8h	1,163.1	+0.018%	$2.0M	$3.1M	20x
Vest LLY-USD-PERP	+0.0046%	1h	1,162.4	−0.042%	—	—	25x	as long as short
tradeXYZ xyz:LLY	+0.0050%	1h	1,163.1	+0.017%	$8.7M	$1.2M	10x	as long as short
BloFin LLY-USDT	+0.0053%	8h	1,163.6	+0.056%	$84K	$85K	20x	as long as short
Nado LLY-PERP	+0.0094%	1h	1,162.5	−0.031%	$39K	$251	10x	as long as short
KuCoin LLYUSDTM	+0.0100%	8h	1,163.2	+0.026%	$137K	$73K	20x	as long as short
Injective LLY/USDC PERP	+0.0220%	1h	1,175.6	+1.092%	$7K	$24K	12x	as long as short
Phoenix LLYlong	+0.0275%	1h	1,162.9	long leg	$1K	$7K	10x