Funding arb · Price arb /

LLY

RWAall LLY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0011%/8h= −1.2% APRpaid last 24h +0.024%

Price spread now: Variational Omni against QFEX−0.003%7-day average −0.010% · you buy dearer than you sell

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

Long on QFEX Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.056%+$6 on $10k

Price spread, last 4 days (all we have)+0.025%+$3 · spread now −0.003%, 7d avg −0.010%

Together, before fees+0.081%+ Points / potential airdropVariational Omni: Active · farm board+$8 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.010%, so right now this pair is about funding alone: $0 a day on $10k at the current rate. Mind the row above: over the last 4 days funding on this pair paid +0.056%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX LLY-USD	1,165.5	0.0011	pay 0.0001% / 1h	48m 05s	$1.2M	$3.8M	10x
Short	Variational Omni LLY	1,165.5	0	get 0.0000% / 8h	2h 48m	$193K	$16K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.003%Rate

Funding earned: −$2.3
Price spread: −0.003% → −0.010%: $0.73
Slippage, 4 orders: no order book: not counted
Fee QFEX: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$11.58
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: QFEX: live order book, 5 min ago; Variational Omni: RFQ quote, 1 min ago. 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 QFEX live order book, 5 min ago	51.78 bp	56.8 bp −$57	62.0 bp −$620	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 1 min ago	3.43 bp	doesn't fit	60.1 bp −$601	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	1,165.8	+0.021%	$24K	$3K	20x	as long as short
Binance LLYUSDT	0.0000%	8h	1,165.7	+0.016%	$2.0M	$3.1M	20x	as long as short
Bybit LLYUSDT	0.0000%	8h	1,165.7	+0.015%	$1.3M	$482K	25x	as long as short
OKX LLY-USDT-SWAP	0.0000%	8h	1,165.2	−0.027%	$790K	$577K	20x	as long as short
Gate LLY_USDT	0.0000%	8h	1,165.3	−0.015%	$1.3M	$827K	25x	as long as short
Bitget LLYUSDT	0.0000%	8h	1,166.2	+0.062%	$2.3M	$169K	20x	as long as short
Variational Omni LLYshort	0.0000%	8h	1,165.5	−0.003%	$193K	$16K	—
GRVT LLY_USDT_Perp	0.0000%	8h	1,165.7	+0.020%	$233	$182K	10x	as long as short
SunX LLY-USDT	0.0000%	8h	1,165.6	+0.008%	$1K	$5.8M	10x	as long as short
HTX LLY-USDT	0.0000%	8h	1,163.9	−0.142%	$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
BloFin LLY-USDT	+0.0004%	8h	1,165.8	+0.021%	$84K	$85K	20x	as long as short
QFEX LLY-USDlong	+0.0011%	1h	1,165.5	long leg	$1.2M	$3.8M	10x
Aftermath Perps LLYUSD	+0.0014%	1h	1,165.4	−0.010%	$47K	$40K	5x	as long as short
tradeXYZ xyz:LLY	+0.0032%	1h	1,165.6	+0.008%	$8.7M	$1.2M	10x	as long as short
Vest LLY-USD-PERP	+0.0046%	1h	1,165.5	−0.004%	—	—	25x	as long as short
KuCoin LLYUSDTM	+0.0100%	8h	1,165.5	−0.001%	$137K	$71K	20x	as long as short
Nado LLY-PERP	+0.0207%	1h	1,165.4	−0.009%	$39K	$251	10x	as long as short
Injective LLY/USDC PERP	+0.0220%	1h	1,177.5	+1.029%	$7K	$24K	12x	as long as short
Phoenix LLY	+0.0274%	1h	1,165.8	+0.025%	$1K	$7K	10x	as long as short