Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.006%
Price spread now: Backpack against Binance−0.030%7-day average −0.014% · you buy dearer than you sell
Net, funding: paid 7d − costs−$57as in the Funding arb table
Net, price: spread back to 7d avg − costs−$46as in the Price arb table
costs, in and out, $10k−$440.445% of the position
Funding, last 7 days−0.120%−$12 on $10k
+Price spread, last 4 days (all we have)−0.117%−$12 · spread now −0.030%, 7d avg −0.014%
=| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance LDOUSDT | 0.4365 | 0.0100 | pay 0.0100% / 8h | 1h 01m | $18.2M | $37.7M | 75x |
| Short | Backpack LDO_USDC_PERP | 0.4364 | 0.0100 | get 0.0013% / 1h | 1m 00s | $86K | $179K | 10x |
Binance LDOUSDT
Backpack LDO_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Binance. 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: −0.030% → −0.014%
- −$1.63
- Slippage, 4 orders
- −$24.45
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$46.08
- Costs to cover
- 0.445%
- Break-even
- never at this rate
Slippage from Binance: live order book, 11 min ago; Backpack: live order book, 17 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 Binance live order book, 11 min ago | 1.15 bp | 9.1 bp −$9 | 19.9 bp −$199 | 190.6 bp −$19.1K | doesn't fit |
| Sell Backpack live order book, 17 min ago | 1.04 bp | 11.4 bp −$11 | 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 | −5.838% | $4K | $14 | 12x | as long as short |
| Coinbase International LDO-PERP-INTX | −0.0600% | 1h | 0.4350 | −0.339% | $118K | $55K | 50x | as long as short |
| dYdX LDO-USD | 0.0000% | 1h | 0.4357 | −0.170% | $84K | $17K | 5x | as long as short |
| Paradex LDO-USD-PERP | +0.0100% | 8h | 0.4356 | −0.197% | $3K | $56 | 20x | as long as short |
| Hyperliquid LDO | +0.0100% | 1h | 0.4370 | +0.121% | $12.3M | $3.9M | 5x | as long as short |
| Aster LDOUSDT | +0.0100% | 8h | 0.4365 | 0.000% | $172K | $149K | 10x | as long as short |
| Pacifica LDO | +0.0100% | 1h | 0.4358 | −0.151% | $112K | $178K | 10x | as long as short |
| Binance LDOUSDTlong | +0.0100% | 8h | 0.4365 | long leg | $18.2M | $37.7M | 75x | |
| Bybit LDOUSDT | +0.0100% | 8h | 0.4359 | −0.133% | $16.6M | $12.8M | 50x | as long as short |
| OKX LDO-USDT-SWAP | +0.0100% | 8h | 0.4359 | −0.133% | $4.1M | $9.2M | 50x | as long as short |
Injective LDO/USDC PERP
Coinbase International LDO-PERP-INTX
dYdX LDO-USD
Paradex LDO-USD-PERP
Hyperliquid LDO
Aster LDOUSDT
Pacifica LDO
Bybit LDOUSDT
OKX LDO-USDT-SWAPShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate LDO_USDT | +0.0100% | 8h | 0.4362 | −0.064% | $1.4M | $1.1M | 50x | as long as short |
| MEXC LDO_USDT | +0.0100% | 8h | 0.4364 | −0.019% | $8.5M | $7.6M | 200x | as long as short |
| KuCoin LDOUSDTM | +0.0100% | 8h | 0.4363 | −0.042% | $2.8M | $4.2M | 50x | as long as short |
| Bitget LDOUSDT | +0.0100% | 8h | 0.4361 | −0.087% | $3.4M | $3.7M | 75x | as long as short |
| BingX LDO-USDT | +0.0100% | 8h | 0.4360 | −0.110% | — | $3.7M | — | as long as short |
| Backpack LDO_USDC_PERPshort | +0.0100% | 1h | 0.4364 | −0.030% | $86K | $179K | 10x | |
| Variational Omni LDO | +0.0100% | 8h | 0.4348 | −0.387% | $203K | $83K | — | as long as short |
| GRVT LDO_USDT_Perp | +0.0100% | 8h | 0.4355 | −0.220% | $306K | $3.4M | 10x | as long as short |
| ApeX Omni LDOUSDT | +0.0100% | 1h | 0.4360 | −0.110% | $35K | $649K | 50x | as long as short |
| Polymarket Perps LDO-USD | +0.0100% | 1h | 0.4357 | −0.170% | $23K | $736K | 5x | as long as short |
| SunX LDO-USDT | +0.0100% | 8h | 0.4462 | +2.227% | $2K | $1.5M | 20x | as long as short |
| Extended LDO-USD | +0.0104% | 1h | 0.4359 | −0.124% | $261K | $1.0M | 25x | as long as short |
| Aevo LDO-PERP | +0.0104% | 1h | 0.4361 | −0.076% | $39K | — | 3x | as long as short |
| BloFin LDO-USDT | +0.0110% | 8h | 0.4361 | −0.087% | $787K | $225K | 75x | as long as short |
| Deribit LDO_USDC-PERPETUAL | +0.0209% | 1h | 0.4361 | −0.087% | $3K | $10K | 25x | as long as short |
| Kraken Futures PF_LDOUSD | +0.0294% | 1h | 0.4362 | −0.058% | $1.1M | $527K | 50x | as long as short |
| GMX LDO/USD [ETH-USDC] | L +0.0320% / S −0.0201% | 1h | 0.4359 | −0.125% | $24K | — | 100x | as long as short |
| Reya LDORUSDPERP | +0.0334% | 1h | 0.4352 | −0.283% | $304K | — | 15x | as long as short |
| Lighter LDO | +0.0384% | 1h | 0.4369 | +0.094% | $886K | $268K | 10x | as long as short |
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
BloFin LDO-USDT
Deribit LDO_USDC-PERPETUAL
Kraken Futures PF_LDOUSD
GMX LDO/USD [ETH-USDC]
Reya LDORUSDPERP
Lighter LDO