Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.009%
Price spread now: Backpack against Bybit+0.093%45s7-day average +0.066% · you sell dearer than you buy
Net, funding: paid 7d − costs−$70as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$590.590% of the position
Funding, last 7 days−0.107%−$11 on $10k
+Price spread, last 4 days (all we have)−0.108%−$11 · spread now +0.093%, 7d avg +0.066%
=Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Backpack is 0.027% dearer against Bybit than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.066%. The two prices were read 45 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit LDOUSDT | 0.4310 | 0.0100 | pay 0.0100% / 8h | 7h 21m | $16.3M | $12.0M | 50x |
| Short | Backpack LDO_USDC_PERP | 0.4314 | 0.0100 | get 0.0013% / 1h | 21m 21s | $87K | $148K | 10x |
Bybit LDOUSDT
Backpack LDO_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Bybit. 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: +0.093% → +0.066%
- $2.7
- Slippage, 4 orders
- −$37.97
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$56.27
- Costs to cover
- 0.590%
- Break-even
- never at this rate
Slippage from Bybit: live order book, 2 min ago; Backpack: live order book, 52 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 Bybit live order book, 2 min ago | 1.16 bp | 14.8 bp −$15 | 37.2 bp −$372 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 52 min ago | 0.58 bp | 10.0 bp −$10 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Coinbase International LDO-PERP-INTX | −0.0752% | 1h | 0.4311 | +0.023% | $118K | $53K | 50x | as long as short |
| dYdX LDO-USD | 0.0000% | 1h | 0.4314 | +0.102% | $83K | $17K | 5x | as long as short |
| Injective LDO/USDC PERP | +0.0033% | 1h | 0.4110 | −4.640% | $4K | $14 | 12x | as long as short |
| BloFin LDO-USDT | +0.0076% | 8h | 0.4317 | +0.162% | $789K | $217K | 75x | as long as short |
| Paradex LDO-USD-PERP | +0.0100% | 8h | 0.4308 | −0.054% | $3K | — | 20x | as long as short |
| Hyperliquid LDO | +0.0100% | 1h | 0.4313 | +0.060% | $11.9M | $4.1M | 5x | as long as short |
| Aster LDOUSDT | +0.0100% | 8h | 0.4316 | +0.145% | $170K | $149K | 10x | as long as short |
| Pacifica LDO | +0.0100% | 1h | 0.4312 | +0.046% | $111K | $178K | 10x | as long as short |
| Binance LDOUSDT | +0.0100% | 8h | 0.4313 | +0.070% | $18.1M | $37.6M | 75x | as long as short |
| Bybit LDOUSDTlong | +0.0100% | 8h | 0.4310 | long leg | $16.3M | $12.0M | 50x |
Coinbase International LDO-PERP-INTX
dYdX LDO-USD
Injective LDO/USDC PERP
BloFin LDO-USDT
Paradex LDO-USD-PERP
Hyperliquid LDO
Aster LDOUSDT
Pacifica LDO
Binance 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 | 0.4309 | −0.023% | $4.1M | $9.0M | 50x | as long as short |
| Gate LDO_USDT | +0.0100% | 8h | 0.4315 | +0.116% | $1.5M | $1.0M | 50x | as long as short |
| MEXC LDO_USDT | +0.0100% | 8h | 0.4310 | 0.000% | $7.9M | $7.5M | 200x | as long as short |
| KuCoin LDOUSDTM | +0.0100% | 8h | 0.4313 | +0.070% | $2.8M | $4.1M | 50x | as long as short |
| Bitget LDOUSDT | +0.0100% | 8h | 0.4311 | +0.023% | $3.4M | $3.6M | 75x | as long as short |
| BingX LDO-USDT | +0.0100% | 8h | 0.4312 | +0.046% | — | $3.7M | — | as long as short |
| Backpack LDO_USDC_PERPshort | +0.0100% | 1h | 0.4314 | +0.093% | $87K | $148K | 10x | |
| Variational Omni LDO | +0.0100% | 8h | 0.4309 | −0.028% | $202K | $81K | — | as long as short |
| GRVT LDO_USDT_Perp | +0.0100% | 8h | 0.4318 | +0.182% | $304K | $3.5M | 10x | as long as short |
| ApeX Omni LDOUSDT | +0.0100% | 1h | 0.4310 | 0.000% | $35K | $644K | 50x | as long as short |
| Polymarket Perps LDO-USD | +0.0100% | 1h | 0.4313 | +0.063% | $23K | $731K | 5x | as long as short |
| SunX LDO-USDT | +0.0100% | 8h | 0.4413 | +2.390% | $2K | $1.4M | 20x | as long as short |
| Extended LDO-USD | +0.0104% | 1h | 0.4309 | −0.023% | $263K | $1.5M | 25x | as long as short |
| Aevo LDO-PERP | +0.0104% | 1h | 0.4315 | +0.104% | $38K | — | 3x | as long as short |
| Kraken Futures PF_LDOUSD | +0.0197% | 1h | 0.4316 | +0.135% | $1.1M | $526K | 50x | as long as short |
| Deribit LDO_USDC-PERPETUAL | +0.0214% | 1h | 0.4315 | +0.116% | $3K | $10K | 25x | as long as short |
| GMX LDO/USD [ETH-USDC] | L +0.0319% / S −0.0201% | 1h | 0.4312 | +0.040% | $24K | — | 100x | as long as short |
| Reya LDORUSDPERP | +0.0336% | 1h | 0.4308 | −0.049% | $300K | — | 15x | as long as short |
| Lighter LDO | +0.0624% | 1h | 0.4320 | +0.227% | $877K | $267K | 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
Kraken Futures PF_LDOUSD
Deribit LDO_USDC-PERPETUAL
GMX LDO/USD [ETH-USDC]
Reya LDORUSDPERP
Lighter LDO