Funding arb · Price arb /

LDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.045%

Price spread now: KuCoin against Deribit−0.024%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 KuCoin

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. KuCoin is 0.024% cheaper against Deribit than usual: you would sell low and buy high (spread −0.024% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$2 on $10k: about 19 hours 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	0.4219	0	get 0.0000% / 1h	36m 20s	$7K	$20K	25x
Short	KuCoin LDOUSDTM	0.4218	0.0100	get 0.0100% / 8h	2h 36m	$2.7M	$3.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.024%Rate

Funding earned: $21
Price spread: −0.024% → 0.000%: −$2.37
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$0.37
Costs to cover: 0.190%
Break-even: 7.1 days

Slippage unknown: Deribit: no order-book sample; KuCoin: live order book, 6 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 KuCoin live order book, 6 min ago	2.37 bp	31.0 bp −$31	246.6 bp −$2,466	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
Coinbase International LDO-PERP-INTX	−0.0464%	1h	0.4170	−1.161%	$116K	$40K	50x	as long as short
dYdX LDO-USD	0.0000%	1h	0.4212	−0.158%	$81K	$5K	5x	as long as short
Deribit LDO_USDC-PERPETUALlong	0.0000%	1h	0.4219	long leg	$7K	$20K	25x
Injective LDO/USDC PERP	+0.0033%	1h	0.4110	−2.584%	$4K	$11	12x	as long as short
Paradex LDO-USD-PERP	+0.0100%	8h	0.4218	−0.015%	$3K	—	20x	as long as short
Hyperliquid LDO	+0.0100%	1h	0.4219	+0.012%	$11.5M	$3.1M	5x	as long as short
Aster LDOUSDT	+0.0100%	8h	0.4217	−0.051%	$166K	$91K	10x	as long as short
Pacifica LDO	+0.0100%	1h	0.4218	−0.024%	$108K	$27K	10x	as long as short
Binance LDOUSDT	+0.0100%	8h	0.4218	−0.024%	$17.7M	$31.0M	75x	as long as short
Bybit LDOUSDT	+0.0100%	8h	0.4216	−0.071%	$16.0M	$10.1M	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	0.4216	−0.071%	$4.0M	$6.7M	50x	as long as short
Gate LDO_USDT	+0.0100%	8h	0.4215	−0.095%	$1.4M	$1.1M	50x	as long as short
MEXC LDO_USDT	+0.0100%	8h	0.4218	−0.024%	$7.2M	$5.8M	200x	as long as short
KuCoin LDOUSDTMshort	+0.0100%	8h	0.4218	−0.024%	$2.7M	$3.5M	50x
Bitget LDOUSDT	+0.0100%	8h	0.4214	−0.119%	$3.2M	$3.1M	75x	as long as short
BingX LDO-USDT	+0.0100%	8h	0.4216	−0.071%	—	$10.0M	—	as long as short
Backpack LDO_USDC_PERP	+0.0100%	1h	0.4217	−0.043%	$89K	$181K	10x	as long as short
Variational Omni LDO	+0.0100%	8h	0.4211	−0.193%	$198K	$60K	—	as long as short
GRVT LDO_USDT_Perp	+0.0100%	8h	0.4202	−0.403%	$303K	$3.5M	10x	as long as short
ApeX Omni LDOUSDT	+0.0100%	1h	0.4200	−0.450%	$32K	$638K	50x	as long as short
Polymarket Perps LDO-USD	+0.0100%	1h	0.4219	−0.002%	$26K	$368K	5x	as long as short
SunX LDO-USDT	+0.0100%	8h	0.4318	+2.347%	$2K	$1.2M	20x	as long as short
Extended LDO-USD	+0.0104%	1h	0.4215	−0.097%	$253K	$1.2M	25x	as long as short
Aevo LDO-PERP	+0.0104%	1h	0.4218	−0.027%	$37K	—	3x	as long as short
BloFin LDO-USDT	+0.0122%	8h	0.4218	−0.024%	$900K	$256K	75x	as long as short
GMX LDO/USD [ETH-USDC]	L +0.0318% / S −0.0201%	1h	0.4216	−0.062%	$23K	—	100x	as long as short
Reya LDORUSDPERP	+0.0343%	1h	0.4215	−0.097%	$294K	—	15x	as long as short
Lighter LDO	+0.0352%	1h	0.4226	+0.175%	$852K	$265K	10x	as long as short
Kraken Futures PF_LDOUSD	+0.0598%	1h	0.4223	+0.094%	$1.1M	$655K	50x	as long as short