Funding arb · Price arb /

LDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.1116%/8h= +122.2% APRpaid last 24h +0.348%

Price spread now: Aster against Coinbase International−0.010%7-day average +0.129% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$406as in the Price arb table

costs, in and out, $10k−$3923.924% of the position

Long on Coinbase International Short on Aster

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+0.433%+$43 on $10k

Price spread, last 3 days (all we have)−0.168%−$17 · spread now −0.010%, 7d avg +0.129%

Together, before fees+0.265%+ Points / potential airdropAster: Stage 5 · farm board+$27 on $10k · with fees, hour by hour

Funding pays, the price is against you. Aster is 0.139% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.010% now, against its 7-day average of +0.129%). If the spread goes back, that is −$14 on $10k: about 10 hours of funding at the current rate (+$33 a day). At the pace of the last 5 days (+0.433% in total) that is about 41 hours.

The current funding rate is far above what this pair has been paying: over the last 5 days it paid 0.433% in total (about 29.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International LDO-PERP-INTX	0.4290	−0.1016	get 0.0127% / 1h	11m 06s	$117K	$52K	50x
Short	Aster LDOUSDT	0.4290	0.0100	get 0.0100% / 8h	11m 06s	$169K	$149K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Coinbase International. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Coinbase InternationalbpFee AsterbpOrdersPrice spread, now −0.010%Rate

Funding earned: $234.36
Price spread: −0.010% → +0.129%: −$13.86
Slippage, 4 orders: −$374.41
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$171.91
Costs to cover: 3.924%
Break-even: 12.1 days

Slippage from Coinbase International: live order book, 2 min ago; Aster: live order book, 65 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 Coinbase International live order book, 2 min ago	11.64 bp	101.9 bp −$102	doesn't fit	doesn't fit	doesn't fit
Sell Aster live order book, 65 min ago	10.37 bp	20.5 bp −$20	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	−0.5000%	1h	0.4110	−4.196%	$4K	$14	12x	as long as short
Coinbase International LDO-PERP-INTXlong	−0.1016%	1h	0.4290	long leg	$117K	$52K	50x
dYdX LDO-USD	0.0000%	1h	0.4290	+0.006%	$83K	$17K	5x	as long as short
Kraken Futures PF_LDOUSD	+0.0027%	1h	0.4289	−0.027%	$1.1M	$527K	50x	as long as short
Paradex LDO-USD-PERP	+0.0100%	8h	0.4285	−0.122%	$3K	$56	20x	as long as short
Hyperliquid LDO	+0.0100%	1h	0.4290	−0.005%	$12.0M	$4.0M	5x	as long as short
Aster LDOUSDTshort	+0.0100%	8h	0.4290	−0.010%	$169K	$149K	10x
Pacifica LDO	+0.0100%	1h	0.4289	−0.021%	$110K	$178K	10x	as long as short
Binance LDOUSDT	+0.0100%	8h	0.4287	−0.070%	$17.9M	$37.9M	75x	as long as short
Bybit LDOUSDT	+0.0100%	8h	0.4284	−0.140%	$16.3M	$12.5M	50x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX LDO-USDT-SWAP	+0.0100%	8h	0.4283	−0.163%	$4.0M	$9.1M	50x	as long as short
Gate LDO_USDT	+0.0100%	8h	0.4286	−0.093%	$1.4M	$1.1M	50x	as long as short
MEXC LDO_USDT	+0.0100%	8h	0.4286	−0.093%	$7.9M	$7.5M	200x	as long as short
KuCoin LDOUSDTM	+0.0100%	8h	0.4286	−0.093%	$2.8M	$4.2M	50x	as long as short
Bitget LDOUSDT	+0.0100%	8h	0.4288	−0.047%	$3.4M	$3.6M	75x	as long as short
BingX LDO-USDT	+0.0100%	8h	0.4286	−0.093%	—	$3.7M	—	as long as short
Backpack LDO_USDC_PERP	+0.0100%	1h	0.4285	−0.107%	$85K	$180K	10x	as long as short
Variational Omni LDO	+0.0100%	8h	0.4282	−0.189%	$200K	$82K	—	as long as short
GRVT LDO_USDT_Perp	+0.0100%	8h	0.4295	+0.112%	$306K	$3.5M	10x	as long as short
ApeX Omni LDOUSDT	+0.0100%	1h	0.4300	+0.233%	$34K	$647K	50x	as long as short
Polymarket Perps LDO-USD	+0.0100%	1h	0.4288	−0.042%	$23K	$736K	5x	as long as short
SunX LDO-USDT	+0.0100%	8h	0.4385	+2.214%	$2K	$1.5M	20x	as long as short
Extended LDO-USD	+0.0104%	1h	0.4282	−0.188%	$257K	$1.0M	25x	as long as short
Aevo LDO-PERP	+0.0104%	1h	0.4285	−0.114%	$38K	—	3x	as long as short
BloFin LDO-USDT	+0.0109%	8h	0.4285	−0.117%	$789K	$218K	75x	as long as short
Lighter LDO	+0.0272%	1h	0.4295	+0.119%	$872K	$269K	10x	as long as short
GMX LDO/USD [ETH-USDC]	L +0.0318% / S −0.0201%	1h	0.4285	−0.117%	$23K	—	100x	as long as short
Reya LDORUSDPERP	+0.0335%	1h	0.4283	−0.153%	$299K	—	15x	as long as short
Deribit LDO_USDC-PERPETUAL	+0.0450%	1h	0.4287	−0.070%	$3K	$10K	25x	as long as short