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 +0.063%

Price spread now: OKX against Deribit−0.185%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 OKX

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. OKX is 0.185% cheaper against Deribit than usual: you would sell low and buy high (spread −0.185% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$18 on $10k: about 6.2 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	0.4335	0	get 0.0000% / 1h	35m 42s	$3K	$10K	25x
Short	OKX LDO-USDT-SWAP	0.4327	0.0100	get 0.0100% / 8h	1h 35m	$4.1M	$9.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.185%Rate

Funding earned: $21
Price spread: −0.185% → 0.000%: −$18.45
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee OKX: 5 bp × 2 orders: −$10
Net: −$14.45
Costs to cover: 0.170%
Break-even: 11.8 days

Slippage unknown: Deribit: no order-book sample; OKX: 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 OKX live order book, 2 min ago	1.15 bp	12.5 bp −$12	53.1 bp −$531	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	−5.190%	$4K	$14	12x	as long as short
Coinbase International LDO-PERP-INTX	−0.0600%	1h	0.4331	−0.092%	$117K	$55K	50x	as long as short
dYdX LDO-USD	0.0000%	1h	0.4331	−0.082%	$84K	$17K	5x	as long as short
Deribit LDO_USDC-PERPETUALlong	0.0000%	1h	0.4335	long leg	$3K	$10K	25x
BloFin LDO-USDT	+0.0089%	8h	0.4341	+0.138%	$786K	$226K	75x	as long as short
Paradex LDO-USD-PERP	+0.0100%	8h	0.4326	−0.198%	$3K	$56	20x	as long as short
Hyperliquid LDO	+0.0100%	1h	0.4333	−0.055%	$12.2M	$4.0M	5x	as long as short
Aster LDOUSDT	+0.0100%	8h	0.4333	−0.043%	$170K	$152K	10x	as long as short
Pacifica LDO	+0.0100%	1h	0.4330	−0.115%	$111K	$178K	10x	as long as short
Binance LDOUSDT	+0.0100%	8h	0.4332	−0.069%	$18.0M	$38.4M	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	0.4327	−0.185%	$16.5M	$13.3M	50x	as long as short
OKX LDO-USDT-SWAPshort	+0.0100%	8h	0.4327	−0.185%	$4.1M	$9.2M	50x
Gate LDO_USDT	+0.0100%	8h	0.4328	−0.161%	$1.4M	$1.1M	50x	as long as short
MEXC LDO_USDT	+0.0100%	8h	0.4331	−0.092%	$8.6M	$7.6M	200x	as long as short
KuCoin LDOUSDTM	+0.0100%	8h	0.4331	−0.092%	$2.8M	$4.3M	50x	as long as short
Bitget LDOUSDT	+0.0100%	8h	0.4330	−0.115%	$3.4M	$3.8M	75x	as long as short
BingX LDO-USDT	+0.0100%	8h	0.4327	−0.185%	—	$3.8M	—	as long as short
Backpack LDO_USDC_PERP	+0.0100%	1h	0.4329	−0.150%	$85K	$182K	10x	as long as short
Variational Omni LDO	+0.0100%	8h	0.4318	−0.392%	$202K	$85K	—	as long as short
GRVT LDO_USDT_Perp	+0.0100%	8h	0.4343	+0.174%	$306K	$3.5M	10x	as long as short
ApeX Omni LDOUSDT	+0.0100%	1h	0.4340	+0.115%	$35K	$647K	50x	as long as short
Polymarket Perps LDO-USD	+0.0100%	1h	0.4335	+0.005%	$23K	$736K	5x	as long as short
SunX LDO-USDT	+0.0100%	8h	0.4440	+2.422%	$1K	$1.5M	20x	as long as short
Extended LDO-USD	+0.0104%	1h	0.4324	−0.253%	$260K	$1.0M	25x	as long as short
Aevo LDO-PERP	+0.0104%	1h	0.4334	−0.018%	$38K	—	3x	as long as short
Lighter LDO	+0.0176%	1h	0.4341	+0.145%	$881K	$267K	10x	as long as short
Kraken Futures PF_LDOUSD	+0.0296%	1h	0.4331	−0.083%	$1.1M	$563K	50x	as long as short
GMX LDO/USD [ETH-USDC]	L +0.0319% / S −0.0201%	1h	0.4335	−0.005%	$24K	—	100x	as long as short
Reya LDORUSDPERP	+0.0333%	1h	0.4330	−0.110%	$302K	—	15x	as long as short