Funding arb · Price arb /

LLY

RWAall LLY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0364%/8h= −39.9% APRpaid last 24h −0.015%

Price spread now: BloFin against Phoenix−0.018%7-day average — · you buy dearer than you sell

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

Long on Phoenix Short on BloFin

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: −$11 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix LLY	1,164.3	0.0344	pay 0.0043% / 1h	44m 28s	$1K	$7K	10x
Short	BloFin LLY-USDT	1,164.1	−0.0020	pay 0.0020% / 8h	3h 44m	$83K	$85K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.018%Rate

Funding earned: −$76.48
Price spread: −0.018% → 0.000%: −$1.8
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$97.28
Costs to cover: 0.190%
Break-even: never at this rate

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

Phoenix and BloFin: 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
BloFin LLY-USDTshort	−0.0020%	8h	1,164.1	−0.018%	$83K	$85K	20x
Aster LLYUSDT	0.0000%	8h	1,164.3	−0.001%	$24K	$3K	20x	as long as short
Binance LLYUSDT	0.0000%	8h	1,164	−0.022%	$2.0M	$3.1M	20x	as long as short
Bybit LLYUSDT	0.0000%	8h	1,164	−0.022%	$1.3M	$523K	25x	as long as short
OKX LLY-USDT-SWAP	0.0000%	8h	1,163.6	−0.060%	$789K	$635K	20x	as long as short
Gate LLY_USDT	0.0000%	8h	1,163.6	−0.057%	$1.3M	$852K	25x	as long as short
Bitget LLYUSDT	0.0000%	8h	1,164.6	+0.027%	$2.3M	$169K	20x	as long as short
Variational Omni LLY	0.0000%	8h	1,163.9	−0.037%	$192K	$16K	—	as long as short
SunX LLY-USDT	0.0000%	8h	1,164	−0.026%	$1K	$5.8M	10x	as long as short
HTX LLY-USDT	0.0000%	8h	1,162.6	−0.145%	$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
Aftermath Perps LLYUSD	+0.0023%	1h	1,163.4	−0.079%	$47K	$41K	5x	as long as short
QFEX LLY-USD	+0.0042%	1h	1,164.1	−0.018%	$1.2M	$4.1M	10x	as long as short
Vest LLY-USD-PERP	+0.0046%	1h	1,163.9	−0.036%	—	—	25x	as long as short
GRVT LLY_USDT_Perp	+0.0057%	8h	1,164.4	+0.009%	$233	$185K	10x	as long as short
KuCoin LLYUSDTM	+0.0100%	8h	1,164.1	−0.017%	$137K	$74K	20x	as long as short
tradeXYZ xyz:LLY	+0.0146%	1h	1,163.8	−0.043%	$8.7M	$1.2M	10x	as long as short
Injective LLY/USDC PERP	+0.0220%	1h	1,176.3	+1.031%	$7K	$24K	12x	as long as short
Nado LLY-PERP	+0.0283%	1h	1,163.9	−0.034%	$39K	$251	10x	as long as short
Phoenix LLYlong	+0.0344%	1h	1,164.3	long leg	$1K	$7K	10x