Funding arb · Price arb /

LDO

all LDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.043%

Price spread now: GRVT against Deribit−0.228%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 GRVT

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—+ Points / potential airdropGRVT: Active · farm boardneeds both histories

Funding pays, the price is against you. GRVT is 0.228% cheaper against Deribit than usual: you would sell low and buy high (spread −0.228% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$23 on $10k: about 7.6 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	0.4343	0	get 0.0000% / 1h	11m 16s	$3K	$10K	25x
Short	GRVT LDO_USDT_Perp	0.4333	0.0100	get 0.0100% / 8h	1h 11m	$309K	$3.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now −0.228%Rate

Funding earned: $21
Price spread: −0.228% → 0.000%: −$22.84
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$17.84
Costs to cover: 0.160%
Break-even: 12.9 days

Slippage unknown: Deribit: no order-book sample; GRVT: live order book, 3 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 GRVT live order book, 3 min ago	2.31 bp	15.8 bp −$16	52.8 bp −$528	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	−0.0851%	1h	0.4110	−5.365%	$4K	$14	12x	as long as short
Coinbase International LDO-PERP-INTX	−0.0600%	1h	0.4312	−0.714%	$117K	$55K	50x	as long as short
dYdX LDO-USD	0.0000%	1h	0.4338	−0.106%	$84K	$17K	5x	as long as short
Deribit LDO_USDC-PERPETUALlong	0.0000%	1h	0.4343	long leg	$3K	$10K	25x
BloFin LDO-USDT	+0.0095%	8h	0.4337	−0.138%	$786K	$224K	75x	as long as short
Paradex LDO-USD-PERP	+0.0100%	8h	0.4341	−0.051%	$3K	$56	20x	as long as short
Hyperliquid LDO	+0.0100%	1h	0.4348	+0.120%	$12.2M	$4.0M	5x	as long as short
Aster LDOUSDT	+0.0100%	8h	0.4343	−0.009%	$171K	$152K	10x	as long as short
Pacifica LDO	+0.0100%	1h	0.4343	0.000%	$111K	$178K	10x	as long as short
Binance LDOUSDT	+0.0100%	8h	0.4343	−0.008%	$18.1M	$37.7M	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	0.4337	−0.138%	$16.5M	$12.9M	50x	as long as short
OKX LDO-USDT-SWAP	+0.0100%	8h	0.4337	−0.138%	$4.1M	$9.1M	50x	as long as short
Gate LDO_USDT	+0.0100%	8h	0.4339	−0.092%	$1.4M	$1.1M	50x	as long as short
MEXC LDO_USDT	+0.0100%	8h	0.4341	−0.046%	$8.5M	$7.6M	200x	as long as short
KuCoin LDOUSDTM	+0.0100%	8h	0.4341	−0.046%	$2.8M	$4.3M	50x	as long as short
Bitget LDOUSDT	+0.0100%	8h	0.4338	−0.115%	$3.4M	$3.7M	75x	as long as short
BingX LDO-USDT	+0.0100%	8h	0.4340	−0.069%	—	$3.7M	—	as long as short
Backpack LDO_USDC_PERP	+0.0100%	1h	0.4342	−0.028%	$86K	$180K	10x	as long as short
Variational Omni LDO	+0.0100%	8h	0.4328	−0.346%	$203K	$83K	—	as long as short
GRVT LDO_USDT_Perpshort	+0.0100%	8h	0.4333	−0.228%	$309K	$3.4M	10x
ApeX Omni LDOUSDT	+0.0100%	1h	0.4340	−0.069%	$35K	$649K	50x	as long as short
Polymarket Perps LDO-USD	+0.0100%	1h	0.4343	+0.005%	$23K	$736K	5x	as long as short
SunX LDO-USDT	+0.0100%	8h	0.4445	+2.349%	$1K	$1.5M	20x	as long as short
Extended LDO-USD	+0.0104%	1h	0.4337	−0.130%	$260K	$1.0M	25x	as long as short
Aevo LDO-PERP	+0.0104%	1h	0.4342	−0.032%	$38K	—	3x	as long as short
Kraken Futures PF_LDOUSD	+0.0296%	1h	0.4343	−0.004%	$1.1M	$527K	50x	as long as short
GMX LDO/USD [ETH-USDC]	L +0.0320% / S −0.0201%	1h	0.4343	−0.012%	$24K	—	100x	as long as short
Lighter LDO	+0.0320%	1h	0.4351	+0.184%	$882K	$268K	10x	as long as short
Reya LDORUSDPERP	+0.0334%	1h	0.4338	−0.122%	$303K	—	15x	as long as short