Funding arb · Price arb /

LLY

RWAall LLY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0013%/8h= −1.4% APRpaid last 24h −0.009%

Price spread now: OKX against QFEX+0.071%7-day average −0.005% · 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−$129as in the Price arb table

costs, in and out, $10k−$1371.369% of the position

Long on QFEX Short on OKX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.021%−$2 on $10k

Price spread, last 4 days (all we have)+0.057%+$6 · spread now +0.071%, 7d avg −0.005%

Together, before fees+0.036%+$4 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.075% dearer against QFEX than usual: you sell high and buy low (spread +0.071% now, against its 7-day average of −0.005%): +$8 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 19 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX LLY-USD	1,161.4	0.0013	pay 0.0002% / 1h	56m 40s	$1.2M	$3.2M	10x
Short	OKX LLY-USDT-SWAP	1,162.2	0	get 0.0000% / 8h	4h 56m	$819K	$548K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.071%Rate

Funding earned: −$2.76
Price spread: +0.071% → −0.005%: $7.53
Slippage, 4 orders: −$116.92
Fee QFEX: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$132.15
Costs to cover: 1.369%
Break-even: never at this rate

Slippage from QFEX: live order book, 5 min ago; OKX: live order book, 48 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	27.08 bp	32.7 bp −$33	39.1 bp −$391	doesn't fit	doesn't fit
Sell OKX live order book, 48 min ago	0.43 bp	43.6 bp −$44	doesn't fit	doesn't fit	doesn't fit

LLY on 19 exchanges

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
Nado LLY-PERP	−0.0253%	1h	1,161.9	+0.046%	$39K	$251	10x	as long as short
Bybit LLYUSDT	−0.0069%	8h	1,161.5	+0.014%	$1.4M	$501K	25x	as long as short
Aftermath Perps LLYUSD	−0.0024%	1h	1,162.8	+0.126%	$47K	$50K	5x	as long as short
GRVT LLY_USDT_Perp	−0.0007%	8h	1,163	+0.140%	$965	$150K	10x	as long as short
Aster LLYUSDT	0.0000%	8h	1,161.9	+0.044%	$23K	$3K	20x	as long as short
Binance LLYUSDT	0.0000%	8h	1,162.1	+0.060%	$2.0M	$3.4M	20x	as long as short
OKX LLY-USDT-SWAPshort	0.0000%	8h	1,162.2	+0.071%	$819K	$548K	20x
Gate LLY_USDT	0.0000%	8h	1,161.3	−0.003%	$1.3M	$618K	25x	as long as short
Bitget LLYUSDT	0.0000%	8h	1,162.3	+0.078%	$2.3M	$178K	20x	as long as short
Variational Omni LLY	0.0000%	8h	1,163	+0.139%	$190K	$20K	—	as long as short

Show all 19 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX LLY-USDT	0.0000%	8h	1,162.1	+0.062%	$2K	$4.4M	10x	as long as short
HTX LLY-USDT	0.0000%	8h	1,164.5	+0.268%	$5K	$42K	20x	as long as short
QFEX LLY-USDlong	+0.0013%	1h	1,161.4	long leg	$1.2M	$3.2M	10x
KuCoin LLYUSDTM	+0.0023%	8h	1,161.8	+0.036%	$141K	$278K	20x	as long as short
BloFin LLY-USDT	+0.0027%	8h	1,162.4	+0.086%	$87K	$87K	20x	as long as short
tradeXYZ xyz:LLY	+0.0027%	1h	1,161	−0.033%	$8.7M	$1.1M	10x	as long as short
Injective LLY/USDC PERP	+0.0033%	1h	1,160	−0.119%	$20K	$37K	12x	as long as short
Vest LLY-USD-PERP	+0.0046%	1h	1,162.1	+0.065%	—	—	25x	as long as short
Phoenix LLY	+0.0207%	1h	1,162.2	+0.071%	$1K	$9K	10x	as long as short