Funding arb · Price arb /

LDO

all LDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.061%

Price spread now: Deribit against BingX+0.092%7-day average — · you sell dearer than you buy

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

Long on BingX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 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

The price spread pays, funding is against you. Deribit is 0.092% dearer against BingX than usual: you sell high and buy low (spread +0.092% now, against zero (this spread has no 7-day history yet)): +$9 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 3.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX LDO-USDT	0.4352	0.0100	pay 0.0100% / 8h	3h 16m	—	$3.9M	—
Short	Deribit LDO_USDC-PERPETUAL	0.4356	0	get 0.0000% / 1h	16m 18s	$3K	$10K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against BingX. 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 BingXbpFee DeribitbpOrdersPrice spread, now +0.092%Rate

Funding earned: −$21
Price spread: +0.092% → 0.000%: $9.19
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$28.81
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: BingX: live order book, 8 min ago; Deribit: 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 BingX live order book, 8 min ago	4.59 bp	14.4 bp −$14	27.0 bp −$270	144.6 bp −$14.5K	459.1 bp −$229.6K
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: 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	−0.0904%	1h	0.4346	−0.138%	$117K	$54K	50x	as long as short
Kraken Futures PF_LDOUSD	−0.0488%	1h	0.4358	+0.129%	$1.2M	$520K	50x	as long as short
dYdX LDO-USD	0.0000%	1h	0.4350	−0.046%	$84K	$17K	5x	as long as short
Deribit LDO_USDC-PERPETUALshort	0.0000%	1h	0.4356	+0.092%	$3K	$10K	25x
Injective LDO/USDC PERP	+0.0033%	1h	0.4270	−1.884%	$4K	$111	12x	as long as short
Paradex LDO-USD-PERP	+0.0100%	8h	0.4353	+0.032%	$3K	$56	20x	as long as short
Hyperliquid LDO	+0.0100%	1h	0.4359	+0.152%	$12.1M	$3.4M	5x	as long as short
Aster LDOUSDT	+0.0100%	8h	0.4356	+0.090%	$171K	$148K	10x	as long as short
Pacifica LDO	+0.0100%	1h	0.4356	+0.092%	$112K	$182K	10x	as long as short
Binance LDOUSDT	+0.0100%	8h	0.4353	+0.025%	$18.1M	$38.3M	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	0.4353	+0.023%	$16.9M	$13.0M	50x	as long as short
OKX LDO-USDT-SWAP	+0.0100%	8h	0.4350	−0.046%	$4.1M	$9.3M	50x	as long as short
Gate LDO_USDT	+0.0100%	8h	0.4355	+0.069%	$1.4M	$1.1M	50x	as long as short
MEXC LDO_USDT	+0.0100%	8h	0.4353	+0.023%	$9.1M	$7.5M	200x	as long as short
KuCoin LDOUSDTM	+0.0100%	8h	0.4354	+0.046%	$2.9M	$4.3M	50x	as long as short
Bitget LDOUSDT	+0.0100%	8h	0.4351	−0.023%	$3.4M	$3.7M	75x	as long as short
BingX LDO-USDTlong	+0.0100%	8h	0.4352	long leg	—	$3.9M	—
Backpack LDO_USDC_PERP	+0.0100%	1h	0.4355	+0.064%	$86K	$188K	10x	as long as short
Variational Omni LDO	+0.0100%	8h	0.4350	−0.057%	$203K	$119K	—	as long as short
GRVT LDO_USDT_Perp	+0.0100%	8h	0.4354	+0.046%	$313K	$3.6M	10x	as long as short
ApeX Omni LDOUSDT	+0.0100%	1h	0.4360	+0.184%	$33K	$646K	50x	as long as short
Polymarket Perps LDO-USD	+0.0100%	1h	0.4355	+0.074%	$26K	$716K	5x	as long as short
SunX LDO-USDT	+0.0100%	8h	0.4454	+2.344%	$1K	$1.5M	20x	as long as short
Extended LDO-USD	+0.0104%	1h	0.4351	−0.032%	$262K	$1.0M	25x	as long as short
Aevo LDO-PERP	+0.0104%	1h	0.4353	+0.023%	$39K	—	3x	as long as short
BloFin LDO-USDT	+0.0113%	8h	0.4351	−0.023%	$800K	$230K	75x	as long as short
GMX LDO/USD [ETH-USDC]	L +0.0320% / S −0.0201%	1h	0.4355	+0.061%	$24K	—	100x	as long as short
Reya LDORUSDPERP	+0.0331%	1h	0.4351	−0.016%	$303K	—	15x	as long as short
Lighter LDO	+0.0336%	1h	0.4363	+0.248%	$884K	$266K	10x	as long as short