Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.009%
Price spread now: Hyperliquid against Backpack+0.041%7-day average +0.093% · you sell dearer than you buy
Net, funding: paid 7d − costs−$22as in the Funding arb table
Net, price: spread back to 7d avg − costs−$49as in the Price arb table
costs, in and out, $10k−$440.436% of the position
Funding, last 7 days+0.220%+$22 on $10k
+Price spread, last 4 days (all we have)+0.233%+$23 · spread now +0.041%, 7d avg +0.093%
=Together, before fees+0.453%+ Points / potential airdropHyperliquid: Season 2 · farm board+$45 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: Hyperliquid is 0.052% cheaper against Backpack than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.093%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack LDO_USDC_PERP | 0.4362 | 0.0100 | pay 0.0013% / 1h | 3m 25s | $86K | $179K | 10x |
| Short | Hyperliquid LDO | 0.4364 | 0.0100 | get 0.0013% / 1h | 3m 25s | $12.3M | $3.9M | 5x |
Backpack LDO_USDC_PERP
Hyperliquid LDOFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid 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
- $0
- Price spread: +0.041% → +0.093%
- −$5.21
- Slippage, 4 orders
- −$24.56
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$48.77
- Costs to cover
- 0.436%
- Break-even
- never at this rate
Slippage from Backpack: live order book, 15 min ago; Hyperliquid: 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, 15 min ago | 1.04 bp | 12.1 bp −$12 | doesn't fit | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 9 min ago | 1.38 bp | 12.7 bp −$13 | doesn't fit | doesn't fit | doesn't fit |
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 | 0.4110 | −5.777% | $4K | $14 | 12x | as long as short |
| Coinbase International LDO-PERP-INTX | −0.0600% | 1h | 0.4312 | −1.146% | $117K | $55K | 50x | as long as short |
| dYdX LDO-USD | 0.0000% | 1h | 0.4357 | −0.106% | $84K | $17K | 5x | as long as short |
| BloFin LDO-USDT | +0.0093% | 8h | 0.4353 | −0.206% | $787K | $225K | 75x | as long as short |
| Paradex LDO-USD-PERP | +0.0100% | 8h | 0.4360 | −0.052% | $3K | $56 | 20x | as long as short |
| Hyperliquid LDOshort | +0.0100% | 1h | 0.4364 | +0.041% | $12.3M | $3.9M | 5x | |
| Aster LDOUSDT | +0.0100% | 8h | 0.4363 | +0.020% | $172K | $149K | 10x | as long as short |
| Pacifica LDO | +0.0100% | 1h | 0.4363 | +0.023% | $112K | $178K | 10x | as long as short |
| Binance LDOUSDT | +0.0100% | 8h | 0.4360 | −0.054% | $18.1M | $37.7M | 75x | as long as short |
| Bybit LDOUSDT | +0.0100% | 8h | 0.4354 | −0.183% | $16.5M | $12.8M | 50x | as long as short |
Injective LDO/USDC PERP
Coinbase International LDO-PERP-INTX
dYdX LDO-USD
BloFin LDO-USDT
Paradex LDO-USD-PERP
Aster LDOUSDT
Pacifica LDO
Binance LDOUSDT
Bybit LDOUSDTShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX LDO-USDT-SWAP | +0.0100% | 8h | 0.4353 | −0.206% | $4.1M | $9.1M | 50x | as long as short |
| Gate LDO_USDT | +0.0100% | 8h | 0.4361 | −0.023% | $1.4M | $1.1M | 50x | as long as short |
| MEXC LDO_USDT | +0.0100% | 8h | 0.4362 | 0.000% | $8.5M | $7.6M | 200x | as long as short |
| KuCoin LDOUSDTM | +0.0100% | 8h | 0.4363 | +0.023% | $2.8M | $4.2M | 50x | as long as short |
| Bitget LDOUSDT | +0.0100% | 8h | 0.4357 | −0.115% | $3.4M | $3.7M | 75x | as long as short |
| BingX LDO-USDT | +0.0100% | 8h | 0.4360 | −0.046% | — | $3.7M | — | as long as short |
| Backpack LDO_USDC_PERPlong | +0.0100% | 1h | 0.4362 | long leg | $86K | $179K | 10x | |
| Variational Omni LDO | +0.0100% | 8h | 0.4348 | −0.323% | $203K | $83K | — | as long as short |
| GRVT LDO_USDT_Perp | +0.0100% | 8h | 0.4355 | −0.155% | $306K | $3.4M | 10x | as long as short |
| ApeX Omni LDOUSDT | +0.0100% | 1h | 0.4350 | −0.275% | $35K | $649K | 50x | as long as short |
| Polymarket Perps LDO-USD | +0.0100% | 1h | 0.4358 | −0.083% | $23K | $736K | 5x | as long as short |
| SunX LDO-USDT | +0.0100% | 8h | 0.4463 | +2.315% | $2K | $1.5M | 20x | as long as short |
| Extended LDO-USD | +0.0104% | 1h | 0.4357 | −0.105% | $261K | $1.0M | 25x | as long as short |
| Aevo LDO-PERP | +0.0104% | 1h | 0.4362 | +0.009% | $39K | — | 3x | as long as short |
| Deribit LDO_USDC-PERPETUAL | +0.0209% | 1h | 0.4363 | +0.023% | $3K | $10K | 25x | as long as short |
| Kraken Futures PF_LDOUSD | +0.0294% | 1h | 0.4363 | +0.013% | $1.1M | $527K | 50x | as long as short |
| GMX LDO/USD [ETH-USDC] | L +0.0320% / S −0.0201% | 1h | 0.4362 | +0.003% | $24K | — | 100x | as long as short |
| Reya LDORUSDPERP | +0.0334% | 1h | 0.4354 | −0.190% | $304K | — | 15x | as long as short |
| Lighter LDO | +0.0376% | 1h | 0.4371 | +0.215% | $887K | $268K | 10x | as long as short |
OKX LDO-USDT-SWAP
Gate LDO_USDT
MEXC LDO_USDT
KuCoin LDOUSDTM
Bitget LDOUSDT
BingX LDO-USDT
Variational Omni LDO
GRVT LDO_USDT_Perp
ApeX Omni LDOUSDT
Polymarket Perps LDO-USD
SunX LDO-USDT
Extended LDO-USD
Aevo LDO-PERP
Deribit LDO_USDC-PERPETUAL
Kraken Futures PF_LDOUSD
GMX LDO/USD [ETH-USDC]
Reya LDORUSDPERP
Lighter LDO