Settings8H · net · $10k
Funding arb · Price arb /

LDO

all LDO markets
SwapBacktest
Alert: funding
Alert: spread
Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.006%
Price spread now: Gate against Backpack−0.068%7-day average −0.024% · you buy dearer than you sell
Net, funding: paid 7d − costs−$69as in the Funding arb table
Net, price: spread back to 7d avg − costs−$87as in the Price arb table
costs, in and out, $10k−$830.831% of the position
What this pair did over the last
the charts below follow
Funding, last 7 days+0.139%+$14 on $10k
Price spread, last 4 days (all we have)−0.045%−$4 · spread now −0.068%, 7d avg −0.024%
Together, before fees+0.094%+$9 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Gate is 0.043% cheaper against Backpack than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.024%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBackpack LDO_USDC_PERP0.42730.0100pay 0.0013% / 1h57m 22s$93K$176K10x
ShortGate LDO_USDT0.42700.0100get 0.0100% / 8h4h 57m$1.5M$1.0M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Gate against Backpack. 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

Funding earned
$0
Price spread: −0.068% → −0.024%
−$4.35
Slippage, 4 orders
−$58.14
Fee Backpack: 5 bp × 2 orders
−$10
Fee Gate: 7.5 bp × 2 orders
−$15
Net
−$87.49
Costs to cover
0.831%
Break-even
never at this rate
Slippage from Backpack: live order book, 1 min ago; Gate: live order book, 5 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Backpack live order book, 1 min ago2.58 bp13.2 bp −$13doesn't fitdoesn't fitdoesn't fit
Sell Gate live order book, 5 min ago3.50 bp26.7 bp −$27176.0 bp −$1,760doesn't fitdoesn't fit

LDO on 29 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Coinbase International LDO-PERP-INTX−0.0416%1h0.4304+0.728%$120K$41K50xas long as short
dYdX LDO-USD0.0000%1h0.4271−0.041%$82K$5K5xas long as short
Deribit LDO_USDC-PERPETUAL0.0000%1h0.4277+0.096%$7K$20K25xas long as short
Injective LDO/USDC PERP+0.0033%1h0.4110−3.812%$4K$1312xas long as short
BloFin LDO-USDT+0.0075%8h0.4281+0.190%$920K$253K75xas long as short
Paradex LDO-USD-PERP+0.0100%8h0.4263−0.234%$3K20xas long as short
Hyperliquid LDO+0.0100%1h0.4274+0.014%$11.7M$3.2M5xas long as short
Aster LDOUSDT+0.0100%8h0.4270−0.067%$168K$116K10xas long as short
Pacifica LDO+0.0100%1h0.4269−0.100%$110K$86K10xas long as short
Binance LDOUSDT+0.0100%8h0.4274+0.021%$17.9M$31.0M75xas long as short
Show all 29 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bybit LDOUSDT+0.0100%8h0.4272−0.021%$16.1M$10.0M50xas long as short
OKX LDO-USDT-SWAP+0.0100%8h0.4274+0.026%$4.0M$6.9M50xas long as short
Gate LDO_USDTshort+0.0100%8h0.4270−0.068%$1.5M$1.0M50x
MEXC LDO_USDT+0.0100%8h0.4271−0.044%$7.7M$6.4M200xas long as short
KuCoin LDOUSDTM+0.0100%8h0.4268−0.115%$2.7M$3.8M50xas long as short
Bitget LDOUSDT+0.0100%8h0.4269−0.091%$3.3M$3.2M75xas long as short
BingX LDO-USDT+0.0100%8h0.4271−0.044%$9.9Mas long as short
Backpack LDO_USDC_PERPlong+0.0100%1h0.4273long leg$93K$176K10x
Variational Omni LDO+0.0100%8h0.4284+0.251%$202K$62Kas long as short
GRVT LDO_USDT_Perp+0.0100%8h0.4281+0.198%$301K$3.3M10xas long as short
ApeX Omni LDOUSDT+0.0100%1h0.4290+0.400%$33K$641K50xas long as short
Polymarket Perps LDO-USD+0.0100%1h0.4273+0.005%$23K$516K5xas long as short
SunX LDO-USDT+0.0100%8h0.4381+2.530%$2K$1.2M20xas long as short
Extended LDO-USD+0.0104%1h0.4263−0.225%$257K$1.3M25xas long as short
Aevo LDO-PERP+0.0104%1h0.4277+0.088%$38K3xas long as short
Lighter LDO+0.0176%1h0.4276+0.084%$869K$265K10xas long as short
GMX LDO/USD [ETH-USDC]L +0.0319% / S −0.0201%1h0.4274+0.023%$23K100xas long as short
Reya LDORUSDPERP+0.0340%1h0.4270−0.077%$298K15xas long as short
Kraken Futures PF_LDOUSD+0.0493%1h0.4280+0.167%$1.2M$683K50xas long as short