Funding arb · Price arb /

LDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.062%

Price spread now: Bitget against Deribit−0.092%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 Bitget

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. Bitget is 0.092% cheaper against Deribit than usual: you would sell low and buy high (spread −0.092% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$9 on $10k: about 3.1 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	0.4346	0	get 0.0000% / 1h	34m 01s	$3K	$10K	25x
Short	Bitget LDOUSDT	0.4342	0.0100	get 0.0100% / 8h	34m 01s	$3.4M	$3.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.092%Rate

Funding earned: $21
Price spread: −0.092% → 0.000%: −$9.2
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$7.2
Costs to cover: 0.190%
Break-even: 9.4 days

Slippage unknown: Deribit: no order-book sample; Bitget: live order book, 4 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 Bitget live order book, 4 min ago	1.15 bp	14.9 bp −$15	39.1 bp −$391	doesn't fit	doesn't fit

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
Injective LDO/USDC PERP	−0.5000%	1h	0.4110	−5.430%	$4K	$14	12x	as long as short
Coinbase International LDO-PERP-INTX	−0.1016%	1h	0.4339	−0.161%	$118K	$55K	50x	as long as short
dYdX LDO-USD	0.0000%	1h	0.4347	+0.031%	$84K	$17K	5x	as long as short
Deribit LDO_USDC-PERPETUALlong	0.0000%	1h	0.4346	long leg	$3K	$10K	25x
Kraken Futures PF_LDOUSD	+0.0026%	1h	0.4345	−0.014%	$1.1M	$525K	50x	as long as short
BloFin LDO-USDT	+0.0086%	8h	0.4344	−0.046%	$793K	$220K	75x	as long as short
Paradex LDO-USD-PERP	+0.0100%	8h	0.4343	−0.061%	$3K	$56	20x	as long as short
Hyperliquid LDO	+0.0100%	1h	0.4350	+0.087%	$12.2M	$4.0M	5x	as long as short
Aster LDOUSDT	+0.0100%	8h	0.4346	+0.004%	$171K	$149K	10x	as long as short
Pacifica LDO	+0.0100%	1h	0.4344	−0.047%	$112K	$178K	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	0.4345	−0.023%	$18.1M	$37.6M	75x	as long as short
Bybit LDOUSDT	+0.0100%	8h	0.4340	−0.138%	$16.5M	$12.5M	50x	as long as short
OKX LDO-USDT-SWAP	+0.0100%	8h	0.4340	−0.138%	$4.1M	$9.1M	50x	as long as short
Gate LDO_USDT	+0.0100%	8h	0.4343	−0.069%	$1.4M	$1.1M	50x	as long as short
MEXC LDO_USDT	+0.0100%	8h	0.4344	−0.046%	$8.4M	$7.5M	200x	as long as short
KuCoin LDOUSDTM	+0.0100%	8h	0.4345	−0.023%	$2.8M	$4.2M	50x	as long as short
Bitget LDOUSDTshort	+0.0100%	8h	0.4342	−0.092%	$3.4M	$3.6M	75x
BingX LDO-USDT	+0.0100%	8h	0.4344	−0.046%	—	$3.7M	—	as long as short
Backpack LDO_USDC_PERP	+0.0100%	1h	0.4345	−0.023%	$88K	$178K	10x	as long as short
Variational Omni LDO	+0.0100%	8h	0.4342	−0.092%	$204K	$83K	—	as long as short
GRVT LDO_USDT_Perp	+0.0100%	8h	0.4350	+0.090%	$309K	$3.4M	10x	as long as short
ApeX Omni LDOUSDT	+0.0100%	1h	0.4350	+0.092%	$35K	$649K	50x	as long as short
Polymarket Perps LDO-USD	+0.0100%	1h	0.4344	−0.046%	$23K	$736K	5x	as long as short
SunX LDO-USDT	+0.0100%	8h	0.4445	+2.278%	$1K	$1.5M	20x	as long as short
Extended LDO-USD	+0.0104%	1h	0.4341	−0.115%	$261K	$1.0M	25x	as long as short
Aevo LDO-PERP	+0.0104%	1h	0.4346	−0.007%	$38K	—	3x	as long as short
Lighter LDO	+0.0208%	1h	0.4354	+0.175%	$883K	$268K	10x	as long as short
GMX LDO/USD [ETH-USDC]	L +0.0320% / S −0.0201%	1h	0.4346	+0.010%	$24K	—	100x	as long as short
Reya LDORUSDPERP	+0.0335%	1h	0.4339	−0.165%	$303K	—	15x	as long as short