LDO

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0101%/8h= +11.1% APRnext payment +$0.13 per $10,000 · paid last 24h +0.026%

Price spread now: GMX against Backpack−0.053%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Backpack Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. GMX is 0.053% cheaper against Backpack than usual: you would sell low and buy high (spread −0.053% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 42 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack LDO_USDC_PERP	0.4204	0.0100	pay 0.0013% / 1h	39m 07s	$89K	$180K	10x
Short	GMX LDO/USD [ETH-USDC]	0.4202	L +0.0318% / S −0.0201%	get 0.0025% / 1h	39m 07s	$23K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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

Position, each leg$Hold fordaysFee BackpackbpFee GMXbpOrdersPrice spread, now −0.053%Rate

Funding earned: $21.26
Price spread: −0.053% → 0.000%: −$5.33
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: −$6.06
Costs to cover: 0.220%
Break-even: 9.0 days

Slippage unknown: Backpack: live order book, 9 min ago; GMX: no order-book sample. 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 Backpack live order book, 9 min ago	0.83 bp	13.7 bp −$14	doesn't fit	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Coinbase International LDO-PERP-INTX	−0.0464%	1h	0.4170	−0.813%	$116K	$40K	50x	as long as short
dYdX LDO-USD	0.0000%	1h	0.4203	−0.020%	$81K	$5K	5x	as long as short
Deribit LDO_USDC-PERPETUAL	0.0000%	1h	0.4205	+0.019%	$7K	$20K	25x	as long as short
Injective LDO/USDC PERP	+0.0033%	1h	0.4110	−2.241%	$4K	$11	12x	as long as short
BloFin LDO-USDT	+0.0088%	8h	0.4203	−0.029%	$897K	$255K	75x	as long as short
Paradex LDO-USD-PERP	+0.0100%	8h	0.4198	−0.151%	$3K	—	20x	as long as short
Hyperliquid LDO	+0.0100%	1h	0.4207	+0.071%	$11.5M	$3.1M	5x	as long as short
Aster LDOUSDT	+0.0100%	8h	0.4203	−0.030%	$165K	$91K	10x	as long as short
Pacifica LDO	+0.0100%	1h	0.4204	−0.009%	$107K	$27K	10x	as long as short
Binance LDOUSDT	+0.0100%	8h	0.4202	−0.057%	$17.7M	$31.0M	75x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit LDOUSDT	+0.0100%	8h	0.4200	−0.100%	$15.9M	$10.1M	50x	as long as short
OKX LDO-USDT-SWAP	+0.0100%	8h	0.4201	−0.076%	$4.0M	$6.7M	50x	as long as short
Gate LDO_USDT	+0.0100%	8h	0.4200	−0.100%	$1.4M	$1.1M	50x	as long as short
MEXC LDO_USDT	+0.0100%	8h	0.4206	+0.043%	$7.2M	$5.8M	200x	as long as short
KuCoin LDOUSDTM	+0.0100%	8h	0.4203	−0.029%	$2.7M	$3.5M	50x	as long as short
Bitget LDOUSDT	+0.0100%	8h	0.4201	−0.076%	$3.2M	$3.2M	75x	as long as short
BingX LDO-USDT	+0.0100%	8h	0.4204	−0.005%	—	$10.0M	—	as long as short
Backpack LDO_USDC_PERPlong	+0.0100%	1h	0.4204	long leg	$89K	$180K	10x
Variational Omni LDO	+0.0100%	8h	0.4211	+0.158%	$198K	$60K	—	as long as short
GRVT LDO_USDT_Perp	+0.0100%	8h	0.4212	+0.195%	$300K	$3.5M	10x	as long as short
ApeX Omni LDOUSDT	+0.0100%	1h	0.4220	+0.376%	$32K	$638K	50x	as long as short
Polymarket Perps LDO-USD	+0.0100%	1h	0.4200	−0.109%	$26K	$368K	5x	as long as short
SunX LDO-USDT	+0.0100%	8h	0.4301	+2.302%	$1K	$1.2M	20x	as long as short
Extended LDO-USD	+0.0104%	1h	0.4200	−0.102%	$253K	$1.2M	25x	as long as short
Aevo LDO-PERP	+0.0104%	1h	0.4203	−0.019%	$37K	—	3x	as long as short
GMX LDO/USD [ETH-USDC]short	L +0.0318% / S −0.0201%	1h	0.4202	−0.053%	$23K	—	100x
Lighter LDO	+0.0336%	1h	0.4210	+0.128%	$849K	$265K	10x	as long as short
Reya LDORUSDPERP	+0.0343%	1h	0.4198	−0.138%	$293K	—	15x	as long as short
Kraken Futures PF_LDOUSD	+0.0601%	1h	0.4206	+0.050%	$1.1M	$658K	50x	as long as short