LLY Funding Rate — Eli Lilly tokenized stock perpetuals across 10 venues
Tokenized stock (xStock) perpetual · compared across 10 venues · net of estimated fees · updated every few minutes
LLY represents tokenized exposure to Eli Lilly shares (a Backed.fi xStock) traded as a perpetual. The perp, its funding and the underlying share are three different things — read the rate with liquidity and the backtest below.
Live annualized LLY perpetual funding across all 10 venues Perpia tracks. Right now LLY funding is positive on 2 and negative on 1, ranging from +5.5% on Hyperliquid to -25.4% on KuCoin — a spread of 30.9%. The widest delta-neutral trade is long KuCoin / short Hyperliquid at 23.9% net APR.
LLY funding trend & liquidity
168h of historyAverages are historical funding over the window shown. A current rate near the 7-day average may indicate the spread has persisted; a rate far above it is usually a short-lived spike. OI and volume are the smaller (binding) leg of the best pair — the ceiling on tradeable size.
LLY funding rate by venue
12 pairs scanned| Venue | Funding APR | Interval |
|---|---|---|
| Hyperliquid↗ | +5.5% | 1h |
| trade.xyz↗ | +5.5% | 1h |
| Bitget↗ | +0.0% | 8h |
| Bybit↗ | +0.0% | 8h |
| OKX↗ | +0.0% | 8h |
| Variational↗ | +0.0% | 8h |
| Gate.io↗ | +0.0% | 8h |
| Ostium↗ | +0.0% | 1h |
| Aster↗ | +0.0% | 8h |
| KuCoin↗ | -25.4% | 8h |
Rates annualized; updated ~every few minutes from live venue data. Venue names link to that exchange's full funding table; ↗ opens the market on the exchange itself. Every spread between these two venues is on the KuCoin vs Hyperliquid page.
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LLY funding — FAQ
Is LLY funding positive right now?
LLY perpetual funding is positive on 2 of 10 venues Perpia tracks and negative on 1. The highest is +5.5% on Hyperliquid; the lowest is -25.4% on KuCoin.
What is the best LLY funding arbitrage right now?
Go long KuCoin and short Hyperliquid for about 23.9% net APR after fees — the widest delta-neutral LLY spread Perpia currently sees.
Which exchange has the highest LLY funding rate?
Hyperliquid, at +5.5% annualized. Funding shifts continuously, so check the live table above before trading.
How LLY funding arbitrage works
Funding arbitrage combines opposing positions on two venues — long the one paying the most negative funding, short the one paying the most positive — to reduce directional exposure and capture the difference between their funding payments. Fees, slippage, basis divergence and liquidation risk can reduce the result. See the methodology for how it is measured and the guide for the full walkthrough.
Related tokenized stocks
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