Funding arb · Price arb /

LLY

RWAall LLY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0344%/8h= −37.6% APRpaid last 24h −0.083%

Price spread now: HTX against Phoenix−0.143%72s7-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 HTX

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

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and HTX is 0.143% cheaper against Phoenix than usual: you would sell low and buy high (−$14 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 72 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	1,165.7	0.0344	pay 0.0043% / 1h	3m 45s	$1K	$7K	10x
Short	HTX LLY-USDT	1,164	0	get 0.0000% / 8h	3h 03m	$6K	$41K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.143%Rate

Funding earned: −$72.18
Price spread: −0.143% → 0.000%: −$14.33
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee HTX: 6 bp × 2 orders: −$12
Net: −$105.51
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Phoenix: no order-book sample; HTX: 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 HTX no order-book sample	—	—	—	—	—

Phoenix and HTX: 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	1,165.5	−0.016%	$24K	$3K	20x	as long as short
Binance LLYUSDT	0.0000%	8h	1,165.8	+0.009%	$2.0M	$3.1M	20x	as long as short
Bybit LLYUSDT	0.0000%	8h	1,165.6	−0.009%	$1.3M	$523K	25x	as long as short
OKX LLY-USDT-SWAP	0.0000%	8h	1,165.3	−0.034%	$790K	$604K	20x	as long as short
Gate LLY_USDT	0.0000%	8h	1,165.4	−0.025%	$1.3M	$854K	25x	as long as short
Bitget LLYUSDT	0.0000%	8h	1,166.2	+0.039%	$2.3M	$169K	20x	as long as short
Variational Omni LLY	0.0000%	8h	1,165.6	−0.005%	$193K	$16K	—	as long as short
GRVT LLY_USDT_Perp	0.0000%	8h	1,165.7	+0.001%	$256	$182K	10x	as long as short
SunX LLY-USDT	0.0000%	8h	1,165.8	+0.009%	$2K	$5.8M	10x	as long as short
HTX LLY-USDTshort	0.0000%	8h	1,164	−0.143%	$6K	$41K	20x

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps LLYUSD	+0.0015%	1h	1,165.4	−0.030%	$47K	$40K	5x	as long as short
BloFin LLY-USDT	+0.0018%	8h	1,165.6	−0.009%	$84K	$85K	20x	as long as short
QFEX LLY-USD	+0.0042%	1h	1,165.6	−0.009%	$1.2M	$3.9M	10x	as long as short
Vest LLY-USD-PERP	+0.0046%	1h	1,165.5	−0.021%	—	—	25x	as long as short
tradeXYZ xyz:LLY	+0.0050%	1h	1,165.3	−0.034%	$8.7M	$1.2M	10x	as long as short
KuCoin LLYUSDTM	+0.0100%	8h	1,165.5	−0.017%	$137K	$72K	20x	as long as short
Nado LLY-PERP	+0.0179%	1h	1,165.4	−0.026%	$39K	$251	10x	as long as short
Injective LLY/USDC PERP	+0.0220%	1h	1,176.8	+0.952%	$7K	$24K	12x	as long as short
Phoenix LLYlong	+0.0344%	1h	1,165.7	long leg	$1K	$7K	10x