Funding arb · Price arb /

LLY

RWAall LLY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.022%

Price spread now: Bybit against tradeXYZ−0.020%7-day average +0.065% · you buy dearer than you sell

Net, funding: paid 7d − costs−$92as in the Funding arb table

Net, price: spread back to 7d avg − costs−$80as in the Price arb table

costs, in and out, $10k−$720.716% of the position

Long on tradeXYZ Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.208%−$21 on $10k

Price spread, last 7 days+0.033%+$3 · spread now −0.020%, 7d avg +0.065%

Together, before fees−0.174%+ Points / potential airdroptradeXYZ: Active · farm board−$17 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Bybit is 0.085% cheaper against tradeXYZ than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of +0.065%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:LLY	1,162.7	0.0050	pay 0.0006% / 1h	33m 58s	$8.7M	$1.2M	10x
Short	Bybit LLYUSDT	1,162.5	0	get 0.0000% / 8h	4h 33m	$1.3M	$531K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against tradeXYZ. 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 tradeXYZbpFee BybitbpOrdersPrice spread, now −0.020%Rate

Funding earned: −$10.5
Price spread: −0.020% → +0.065%: −$8.52
Slippage, 4 orders: −$42.56
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$90.59
Costs to cover: 0.716%
Break-even: never at this rate

Slippage from tradeXYZ: 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 tradeXYZ live order book, 5 min ago	3.01 bp	13.4 bp −$13	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	3.53 bp	15.3 bp −$15	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
Aster LLYUSDT	0.0000%	8h	1,163.2	+0.045%	$23K	$3K	20x	as long as short
Bybit LLYUSDTshort	0.0000%	8h	1,162.5	−0.020%	$1.3M	$531K	25x
OKX LLY-USDT-SWAP	0.0000%	8h	1,163.9	+0.103%	$790K	$645K	20x	as long as short
Gate LLY_USDT	0.0000%	8h	1,162.9	+0.017%	$1.3M	$880K	25x	as long as short
Bitget LLYUSDT	0.0000%	8h	1,163.5	+0.065%	$2.3M	$169K	20x	as long as short
Variational Omni LLY	0.0000%	8h	1,162.8	+0.013%	$192K	$18K	—	as long as short
GRVT LLY_USDT_Perp	0.0000%	8h	1,163.1	+0.037%	$221	$186K	10x	as long as short
SunX LLY-USDT	0.0000%	8h	1,163	+0.026%	$2K	$5.9M	10x	as long as short
HTX LLY-USDT	0.0000%	8h	1,161	−0.144%	$5K	$40K	20x	as long as short
Aftermath Perps LLYUSD	+0.0014%	1h	1,162.6	−0.009%	$47K	$41K	5x	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	+0.0018%	8h	1,163.3	+0.052%	$84K	$85K	20x	as long as short
Binance LLYUSDT	+0.0029%	8h	1,163.1	+0.034%	$2.0M	$3.1M	20x	as long as short
QFEX LLY-USD	+0.0035%	1h	1,163.1	+0.033%	$1.2M	$4.3M	10x	as long as short
Vest LLY-USD-PERP	+0.0046%	1h	1,162.6	−0.008%	—	—	25x	as long as short
tradeXYZ xyz:LLYlong	+0.0050%	1h	1,162.7	long leg	$8.7M	$1.2M	10x
Nado LLY-PERP	+0.0098%	1h	1,162.8	+0.011%	$39K	$251	10x	as long as short
KuCoin LLYUSDTM	+0.0100%	8h	1,162.9	+0.017%	$137K	$73K	20x	as long as short
Injective LLY/USDC PERP	+0.0220%	1h	1,175.1	+1.066%	$7K	$24K	12x	as long as short
Phoenix LLY	+0.0275%	1h	1,163.9	+0.103%	$1K	$7K	10x	as long as short