Funding arb · Price arb /

LDO

all LDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.061%

Price spread now: BingX against Deribit−0.069%7-day average — · you buy dearer than you sell

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

Long on Deribit Short on BingX

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

Funding pays, the price is against you. BingX is 0.069% cheaper against Deribit than usual: you would sell low and buy high (spread −0.069% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$7 on $10k: about 2.3 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit LDO_USDC-PERPETUAL	0.4318	0	get 0.0000% / 1h	38m 06s	$3K	$10K	25x
Short	BingX LDO-USDT	0.4315	0.0100	get 0.0100% / 8h	2h 38m	—	$3.9M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Deribit. 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 DeribitbpFee BingXbpOrdersPrice spread, now −0.069%Rate

Funding earned: $21
Price spread: −0.069% → 0.000%: −$6.95
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee BingX: 5 bp × 2 orders: −$10
Net: −$2.95
Costs to cover: 0.170%
Break-even: 8.0 days

Slippage unknown: Deribit: no order-book sample; BingX: live order book, 2 min ago. 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 Deribit no order-book sample	—	—	—	—	—
Sell BingX live order book, 2 min ago	3.48 bp	13.9 bp −$14	24.6 bp −$246	92.9 bp −$9,293	371.0 bp −$185.5K

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	−0.0688%	1h	0.4290	−0.648%	$116K	$54K	50x	as long as short
Kraken Futures PF_LDOUSD	−0.0329%	1h	0.4320	+0.056%	$1.1M	$557K	50x	as long as short
dYdX LDO-USD	0.0000%	1h	0.4314	−0.098%	$83K	$17K	5x	as long as short
Deribit LDO_USDC-PERPETUALlong	0.0000%	1h	0.4318	long leg	$3K	$10K	25x
Injective LDO/USDC PERP	+0.0033%	1h	0.4270	−1.112%	$4K	$11	12x	as long as short
Lighter LDO	+0.0096%	1h	0.4330	+0.287%	$878K	$264K	10x	as long as short
Paradex LDO-USD-PERP	+0.0100%	8h	0.4314	−0.082%	$3K	$56	20x	as long as short
Hyperliquid LDO	+0.0100%	1h	0.4320	+0.058%	$11.9M	$3.5M	5x	as long as short
Aster LDOUSDT	+0.0100%	8h	0.4318	−0.004%	$170K	$144K	10x	as long as short
Pacifica LDO	+0.0100%	1h	0.4315	−0.069%	$111K	$182K	10x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance LDOUSDT	+0.0100%	8h	0.4319	+0.023%	$18.0M	$38.0M	75x	as long as short
Bybit LDOUSDT	+0.0100%	8h	0.4317	−0.023%	$16.7M	$12.9M	50x	as long as short
OKX LDO-USDT-SWAP	+0.0100%	8h	0.4315	−0.069%	$4.1M	$9.1M	50x	as long as short
Gate LDO_USDT	+0.0100%	8h	0.4315	−0.069%	$1.4M	$1.1M	50x	as long as short
MEXC LDO_USDT	+0.0100%	8h	0.4316	−0.046%	$8.7M	$7.6M	200x	as long as short
KuCoin LDOUSDTM	+0.0100%	8h	0.4317	−0.023%	$2.9M	$4.3M	50x	as long as short
Bitget LDOUSDT	+0.0100%	8h	0.4315	−0.069%	$3.4M	$3.7M	75x	as long as short
BingX LDO-USDTshort	+0.0100%	8h	0.4315	−0.069%	—	$3.9M	—
Backpack LDO_USDC_PERP	+0.0100%	1h	0.4319	+0.014%	$89K	$186K	10x	as long as short
Variational Omni LDO	+0.0100%	8h	0.4315	−0.081%	$201K	$89K	—	as long as short
GRVT LDO_USDT_Perp	+0.0100%	8h	0.4315	−0.071%	$303K	$3.5M	10x	as long as short
ApeX Omni LDOUSDT	+0.0100%	1h	0.4320	+0.046%	$35K	$647K	50x	as long as short
Polymarket Perps LDO-USD	+0.0100%	1h	0.4318	+0.002%	$34K	$697K	5x	as long as short
SunX LDO-USDT	+0.0100%	8h	0.4416	+2.270%	$2K	$1.5M	20x	as long as short
BloFin LDO-USDT	+0.0104%	8h	0.4311	−0.162%	$793K	$228K	75x	as long as short
Extended LDO-USD	+0.0104%	1h	0.4316	−0.052%	$259K	$1.0M	25x	as long as short
Aevo LDO-PERP	+0.0104%	1h	0.4318	−0.006%	$38K	—	3x	as long as short
GMX LDO/USD [ETH-USDC]	L +0.0319% / S −0.0201%	1h	0.4318	−0.010%	$24K	—	100x	as long as short
Reya LDORUSDPERP	+0.0332%	1h	0.4314	−0.100%	$301K	—	15x	as long as short