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 −0.024%

Price spread now: QFEX against Variational Omni−0.021%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 Variational Omni Short on QFEX

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)+0.004%$0 · spread now −0.021%, 7d avg +0.010%

Together, before fees−0.052%+ Points / potential airdropVariational Omni: Active · farm board−$5 on $10k · with fees, hour by hour

Funding pays, the price is against you. QFEX is 0.031% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.021% now, against its 7-day average of +0.010%). If the spread goes back, that is −$3 on $10k: about 8.4 days of funding at the current rate ($0 a day). Mind the row above: over the last 4 days funding on this pair cost −0.056%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni LLY	1,166.7	0	get 0.0000% / 8h	1h 15m	$193K	$18K	—
Short	QFEX LLY-USD	1,166.5	0.0012	get 0.0002% / 1h	15m 11s	$1.2M	$3.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against Variational Omni. 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 Variational OmnibpFee QFEXbpOrdersPrice spread, now −0.021%Rate

Funding earned: $2.59
Price spread: −0.021% → +0.010%: −$3.11
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$10.52
Costs to cover: 0.100%
Break-even: 35.5 days

Slippage unknown: Variational Omni: RFQ quote, 29 min ago; QFEX: live order book, 3 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 Variational Omni RFQ quote, 29 min ago	5.14 bp	doesn't fit	46.9 bp −$469	doesn't fit	doesn't fit
Sell QFEX live order book, 3 min ago	2.10 bp	7.3 bp −$7	13.5 bp −$135	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	1,166.3	−0.036%	$24K	$3K	20x	as long as short
Binance LLYUSDT	0.0000%	8h	1,166.7	+0.004%	$2.0M	$3.2M	20x	as long as short
Bybit LLYUSDT	0.0000%	8h	1,165.8	−0.073%	$1.3M	$350K	25x	as long as short
OKX LLY-USDT-SWAP	0.0000%	8h	1,166.4	−0.025%	$790K	$567K	20x	as long as short
Gate LLY_USDT	0.0000%	8h	1,166.2	−0.046%	$1.3M	$811K	25x	as long as short
Bitget LLYUSDT	0.0000%	8h	1,166.4	−0.023%	$2.3M	$167K	20x	as long as short
Variational Omni LLYlong	0.0000%	8h	1,166.7	long leg	$193K	$18K	—
GRVT LLY_USDT_Perp	0.0000%	8h	1,166.6	−0.007%	$210	$176K	10x	as long as short
SunX LLY-USDT	0.0000%	8h	1,166.8	+0.009%	$2K	$5.7M	10x	as long as short
HTX LLY-USDT	0.0000%	8h	1,164.6	−0.177%	$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
QFEX LLY-USDshort	+0.0012%	1h	1,166.5	−0.021%	$1.2M	$3.5M	10x
Aftermath Perps LLYUSD	+0.0021%	1h	1,166.4	−0.025%	$47K	$40K	5x	as long as short
BloFin LLY-USDT	+0.0022%	8h	1,166.9	+0.015%	$84K	$86K	20x	as long as short
Vest LLY-USD-PERP	+0.0046%	1h	1,165.7	−0.087%	—	—	25x	as long as short
KuCoin LLYUSDTM	+0.0100%	8h	1,166.4	−0.025%	$137K	$67K	20x	as long as short
tradeXYZ xyz:LLY	+0.0128%	1h	1,166.6	−0.008%	$8.7M	$1.2M	10x	as long as short
Phoenix LLY	+0.0206%	1h	1,166.5	−0.016%	$1K	$7K	10x	as long as short
Nado LLY-PERP	+0.0206%	1h	1,165.8	−0.079%	$39K	$251	10x	as long as short
Injective LLY/USDC PERP	+0.0220%	1h	1,178.7	+1.029%	$7K	$24K	12x	as long as short