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 −0.001%

Price spread now: Bybit against QFEX−0.013%7-day average +0.045% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$121as in the Price arb table

costs, in and out, $10k−$1151.149% of the position

Long on QFEX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.001%$0 on $10k

Price spread, last 7 days+0.045%+$4 · spread now −0.013%, 7d avg +0.045%

Together, before fees+0.043%+$4 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and Bybit is 0.058% cheaper against QFEX than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.045%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX LLY-USD	1,166.3	0.0012	pay 0.0002% / 1h	53m 46s	$1.2M	$3.7M	10x
Short	Bybit LLYUSDT	1,166.1	0	get 0.0000% / 8h	1h 53m	$1.3M	$402K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.013%Rate

Funding earned: −$2.59
Price spread: −0.013% → +0.045%: −$5.76
Slippage, 4 orders: −$93.89
Fee QFEX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$123.24
Costs to cover: 1.149%
Break-even: never at this rate

Slippage from QFEX: live order book, 5 min ago; Bybit: live order book, 2 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, 5 min ago	26.63 bp	31.6 bp −$32	36.5 bp −$365	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	7.55 bp	25.4 bp −$25	doesn't fit	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
BloFin LLY-USDT	−0.0016%	8h	1,165.9	−0.030%	$83K	$86K	20x	as long as short
Aster LLYUSDT	0.0000%	8h	1,166.1	−0.020%	$24K	$3K	20x	as long as short
Binance LLYUSDT	0.0000%	8h	1,166.3	−0.003%	$2.0M	$3.2M	20x	as long as short
Bybit LLYUSDTshort	0.0000%	8h	1,166.1	−0.013%	$1.3M	$402K	25x
OKX LLY-USDT-SWAP	0.0000%	8h	1,165.9	−0.033%	$790K	$567K	20x	as long as short
Gate LLY_USDT	0.0000%	8h	1,165.7	−0.050%	$1.3M	$810K	25x	as long as short
Bitget LLYUSDT	0.0000%	8h	1,165.9	−0.032%	$2.3M	$169K	20x	as long as short
Variational Omni LLY	0.0000%	8h	1,166	−0.023%	$193K	$18K	—	as long as short
GRVT LLY_USDT_Perp	0.0000%	8h	1,165.9	−0.030%	$268	$179K	10x	as long as short
SunX LLY-USDT	0.0000%	8h	1,166.1	−0.016%	$2K	$5.8M	10x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX LLY-USDT	0.0000%	8h	1,166.1	−0.021%	$5K	$41K	20x	as long as short
QFEX LLY-USDlong	+0.0012%	1h	1,166.3	long leg	$1.2M	$3.7M	10x
Aftermath Perps LLYUSD	+0.0017%	1h	1,165.4	−0.077%	$47K	$40K	5x	as long as short
Vest LLY-USD-PERP	+0.0046%	1h	1,166.4	+0.010%	—	—	25x	as long as short
tradeXYZ xyz:LLY	+0.0050%	1h	1,166.3	+0.001%	$8.7M	$1.2M	10x	as long as short
KuCoin LLYUSDTM	+0.0100%	8h	1,166	−0.025%	$137K	$72K	20x	as long as short
Nado LLY-PERP	+0.0127%	1h	1,166	−0.021%	$39K	$251	10x	as long as short
Injective LLY/USDC PERP	+0.0220%	1h	1,177.5	+0.961%	$7K	$24K	12x	as long as short
Phoenix LLY	+0.0274%	1h	1,166.6	+0.027%	$1K	$7K	10x	as long as short