Funding arb · Price arb /

LLY

RWAall LLY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0012%/8h= −1.3% APRpaid last 24h −0.011%

Price spread now: Bitget against QFEX+0.055%46s7-day average +0.072% · 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−$1471.468% of the position

Long on QFEX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.019%−$2 on $10k

Price spread, last 7 days+0.005%$0 · spread now +0.055%, 7d avg +0.072%

Together, before fees−0.015%−$1 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.072%, so right now this pair is about funding alone: $0 a day on $10k at the current rate. The two prices were read 46 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	QFEX LLY-USD	1,165.8	0.0012	pay 0.0002% / 1h	22m 45s	$1.2M	$3.5M	10x
Short	Bitget LLYUSDT	1,166.4	0	get 0.0000% / 8h	1h 22m	$2.3M	$167K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against QFEX. 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 QFEXbpFee BitgetbpOrdersPrice spread, now +0.055%Rate

Funding earned: −$2.59
Price spread: +0.055% → +0.072%: −$1.67
Slippage, 4 orders: −$124.76
Fee QFEX: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$151.02
Costs to cover: 1.468%
Break-even: never at this rate

Slippage from QFEX: live order book, 11 min ago; Bitget: 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 QFEX live order book, 11 min ago	52.07 bp	58.1 bp −$58	66.7 bp −$667	doesn't fit	doesn't fit
Sell Bitget live order book, 4 min ago	6.68 bp	16.0 bp −$16	55.3 bp −$553	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	1,166.4	+0.049%	$24K	$3K	20x	as long as short
Binance LLYUSDT	0.0000%	8h	1,166.8	+0.083%	$2.0M	$3.2M	20x	as long as short
Bybit LLYUSDT	0.0000%	8h	1,166	+0.015%	$1.3M	$390K	25x	as long as short
OKX LLY-USDT-SWAP	0.0000%	8h	1,166	+0.019%	$790K	$567K	20x	as long as short
Gate LLY_USDT	0.0000%	8h	1,166	+0.022%	$1.3M	$811K	25x	as long as short
Bitget LLYUSDTshort	0.0000%	8h	1,166.4	+0.055%	$2.3M	$167K	20x
Variational Omni LLY	0.0000%	8h	1,166.7	+0.078%	$193K	$18K	—	as long as short
GRVT LLY_USDT_Perp	0.0000%	8h	1,166.6	+0.069%	$245	$176K	10x	as long as short
SunX LLY-USDT	0.0000%	8h	1,166.8	+0.087%	$2K	$5.7M	10x	as long as short
HTX LLY-USDT	0.0000%	8h	1,163.7	−0.178%	$6K	$41K	20x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin LLY-USDT	+0.0004%	8h	1,166.7	+0.082%	$84K	$86K	20x	as long as short
QFEX LLY-USDlong	+0.0012%	1h	1,165.8	long leg	$1.2M	$3.5M	10x
Aftermath Perps LLYUSD	+0.0018%	1h	1,166.4	+0.053%	$47K	$40K	5x	as long as short
Vest LLY-USD-PERP	+0.0046%	1h	1,165.7	−0.009%	—	—	25x	as long as short
tradeXYZ xyz:LLY	+0.0097%	1h	1,166.4	+0.053%	$8.7M	$1.2M	10x	as long as short
KuCoin LLYUSDTM	+0.0100%	8h	1,166.4	+0.053%	$137K	$68K	20x	as long as short
Nado LLY-PERP	+0.0184%	1h	1,165.7	−0.005%	$39K	$251	10x	as long as short
Phoenix LLY	+0.0206%	1h	1,166.5	+0.062%	$1K	$7K	10x	as long as short
Injective LLY/USDC PERP	+0.0220%	1h	1,178.7	+1.108%	$7K	$24K	12x	as long as short