Funding you earn now, next payment 23:00 UTC−0.0079%/8h= −8.7% APRpaid last 24h +0.006%
Price spread now: BingX against Backpack−0.116%7-day average −0.025% · you buy dearer than you sell
Net, funding: paid 7d − costs−$36as in the Funding arb table
Net, price: spread back to 7d avg − costs−$67as in the Price arb table
costs, in and out, $10k−$580.578% of the position
Funding, last 7 days+0.218%+$22 on $10k
+Price spread, last 4 days (all we have)+0.154%+$15 · spread now −0.116%, 7d avg −0.025%
=Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and BingX is 0.091% cheaper against Backpack than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of −0.025%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.218%, 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 | Backpack LDO_USDC_PERP | 0.4314 | 0.0179 | pay 0.0022% / 1h | 56m 04s | $86K | $186K | 10x |
| Short | BingX LDO-USDT | 0.4309 | 0.0100 | get 0.0100% / 8h | 1h 56m | — | $3.9M | — |
Backpack LDO_USDC_PERP
BingX LDO-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BingX against Backpack. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$16.6
- Price spread: −0.116% → −0.025%
- −$9.11
- Slippage, 4 orders
- −$37.85
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee BingX: 5 bp × 2 orders
- −$10
- Net
- −$83.55
- Costs to cover
- 0.578%
- Break-even
- never at this rate
Slippage from Backpack: live order book, 27 min ago; BingX: live order book, 9 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 Backpack live order book, 27 min ago | 1.83 bp | 13.6 bp −$14 | doesn't fit | doesn't fit | doesn't fit |
| Sell BingX live order book, 9 min ago | 2.33 bp | 12.3 bp −$12 | 27.7 bp −$277 | 103.6 bp −$10.4K | 300.4 bp −$150.2K |
LDO on 29 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective LDO/USDC PERP | −0.0851% | 1h | 0.4270 | −1.020% | $4K | $13 | 12x | as long as short |
| Coinbase International LDO-PERP-INTX | −0.0600% | 1h | 0.4272 | −0.974% | $116K | $54K | 50x | as long as short |
| Deribit LDO_USDC-PERPETUAL | −0.0214% | 1h | 0.4312 | −0.046% | $3K | $10K | 25x | as long as short |
| dYdX LDO-USD | 0.0000% | 1h | 0.4301 | −0.310% | $83K | $17K | 5x | as long as short |
| Lighter LDO | +0.0096% | 1h | 0.4326 | +0.276% | $878K | $267K | 10x | as long as short |
| Paradex LDO-USD-PERP | +0.0100% | 8h | 0.4309 | −0.106% | $3K | $56 | 20x | as long as short |
| Hyperliquid LDO | +0.0100% | 1h | 0.4317 | +0.065% | $11.9M | $3.8M | 5x | as long as short |
| Aster LDOUSDT | +0.0100% | 8h | 0.4312 | −0.045% | $170K | $152K | 10x | as long as short |
| Pacifica LDO | +0.0100% | 1h | 0.4312 | −0.046% | $111K | $178K | 10x | as long as short |
| Binance LDOUSDT | +0.0100% | 8h | 0.4313 | −0.027% | $17.9M | $38.4M | 75x | as long as short |
Injective LDO/USDC PERP
Coinbase International LDO-PERP-INTX
Deribit LDO_USDC-PERPETUAL
dYdX LDO-USD
Lighter LDO
Paradex LDO-USD-PERP
Hyperliquid LDO
Aster LDOUSDT
Pacifica LDO
Binance LDOUSDTShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit LDOUSDT | +0.0100% | 8h | 0.4308 | −0.139% | $16.4M | $13.4M | 50x | as long as short |
| OKX LDO-USDT-SWAP | +0.0100% | 8h | 0.4310 | −0.093% | $4.1M | $9.1M | 50x | as long as short |
| Gate LDO_USDT | +0.0100% | 8h | 0.4308 | −0.139% | $1.4M | $1.1M | 50x | as long as short |
| MEXC LDO_USDT | +0.0100% | 8h | 0.4314 | 0.000% | $8.6M | $7.6M | 200x | as long as short |
| KuCoin LDOUSDTM | +0.0100% | 8h | 0.4311 | −0.070% | $2.8M | $4.3M | 50x | as long as short |
| Bitget LDOUSDT | +0.0100% | 8h | 0.4316 | +0.046% | $3.4M | $3.8M | 75x | as long as short |
| BingX LDO-USDTshort | +0.0100% | 8h | 0.4309 | −0.116% | — | $3.9M | — | |
| Variational Omni LDO | +0.0100% | 8h | 0.4292 | −0.503% | $201K | $88K | — | as long as short |
| GRVT LDO_USDT_Perp | +0.0100% | 8h | 0.4296 | −0.418% | $308K | $3.5M | 10x | as long as short |
| ApeX Omni LDOUSDT | +0.0100% | 1h | 0.4300 | −0.325% | $34K | $648K | 50x | as long as short |
| Polymarket Perps LDO-USD | +0.0100% | 1h | 0.4314 | −0.005% | $23K | $740K | 5x | as long as short |
| SunX LDO-USDT | +0.0100% | 8h | 0.4413 | +2.295% | $1K | $1.5M | 20x | as long as short |
| Extended LDO-USD | +0.0104% | 1h | 0.4311 | −0.068% | $259K | $1.0M | 25x | as long as short |
| Aevo LDO-PERP | +0.0104% | 1h | 0.4313 | −0.023% | $38K | — | 3x | as long as short |
| BloFin LDO-USDT | +0.0117% | 8h | 0.4298 | −0.371% | $788K | $227K | 75x | as long as short |
| Backpack LDO_USDC_PERPlong | +0.0179% | 1h | 0.4314 | long leg | $86K | $186K | 10x | |
| Kraken Futures PF_LDOUSD | +0.0297% | 1h | 0.4315 | +0.024% | $1.1M | $564K | 50x | as long as short |
| GMX LDO/USD [ETH-USDC] | L +0.0319% / S −0.0201% | 1h | 0.4313 | −0.033% | $24K | — | 100x | as long as short |
| Reya LDORUSDPERP | +0.0333% | 1h | 0.4307 | −0.168% | $300K | — | 15x | as long as short |
Bybit LDOUSDT
OKX LDO-USDT-SWAP
Gate LDO_USDT
MEXC LDO_USDT
KuCoin LDOUSDTM
Bitget LDOUSDT
Variational Omni LDO
GRVT LDO_USDT_Perp
ApeX Omni LDOUSDT
Polymarket Perps LDO-USD
SunX LDO-USDT
Extended LDO-USD
Aevo LDO-PERP
BloFin LDO-USDT
Kraken Futures PF_LDOUSD
GMX LDO/USD [ETH-USDC]
Reya LDORUSDPERP