Funding arb · Price arb /

LDO

all LDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: BingX against dYdX−0.169%7-day average — · you buy dearer than you sell

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

Long on dYdX Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.227%+$23 on $10k

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 0.169% cheaper against dYdX than usual: you would sell low and buy high (spread −0.169% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$17 on $10k: about 5.6 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	dYdX LDO-USD	0.4294	0	get 0.0000% / 1h	29m 20s	$83K	$5K	5x
Short	BingX LDO-USDT	0.4287	0.0100	get 0.0100% / 8h	6h 29m	—	$10.0M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against dYdX. 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 dYdXbpFee BingXbpOrdersPrice spread, now −0.169%Rate

Funding earned: $21
Price spread: −0.169% → 0.000%: −$16.93
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$15.93
Costs to cover: 0.200%
Break-even: 12.3 days

Slippage unknown: dYdX: no order-book sample; BingX: 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 dYdX no order-book sample	—	—	—	—	—
Sell BingX live order book, 4 min ago	3.50 bp	13.2 bp −$13	31.0 bp −$310	101.8 bp −$10.2K	391.2 bp −$195.6K

dYdX: 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 28 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	−0.0416%	1h	0.4277	−0.402%	$119K	$44K	50x	as long as short
dYdX LDO-USDlong	0.0000%	1h	0.4294	long leg	$83K	$5K	5x
Deribit LDO_USDC-PERPETUAL	0.0000%	1h	0.4285	−0.216%	$7K	$20K	25x	as long as short
Injective LDO/USDC PERP	+0.0033%	1h	0.4110	−4.291%	$4K	$13	12x	as long as short
Paradex LDO-USD-PERP	+0.0099%	8h	0.4291	−0.074%	$3K	—	20x	as long as short
Hyperliquid LDO	+0.0100%	1h	0.4294	−0.009%	$11.9M	$3.7M	5x	as long as short
Aster LDOUSDT	+0.0100%	8h	0.4294	−0.011%	$169K	$134K	10x	as long as short
Pacifica LDO	+0.0100%	1h	0.4296	+0.048%	$110K	$159K	10x	as long as short
Binance LDOUSDT	+0.0100%	8h	0.4287	−0.169%	$17.9M	$33.8M	75x	as long as short
Bybit LDOUSDT	+0.0100%	8h	0.4283	−0.262%	$16.1M	$11.0M	50x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX LDO-USDT-SWAP	+0.0100%	8h	0.4284	−0.239%	$4.0M	$7.7M	50x	as long as short
Gate LDO_USDT	+0.0100%	8h	0.4296	+0.040%	$1.5M	$1.0M	50x	as long as short
MEXC LDO_USDT	+0.0100%	8h	0.4288	−0.146%	$7.7M	$7.2M	200x	as long as short
KuCoin LDOUSDTM	+0.0100%	8h	0.4295	+0.017%	$2.7M	$4.1M	50x	as long as short
Bitget LDOUSDT	+0.0100%	8h	0.4289	−0.123%	$3.3M	$3.3M	75x	as long as short
BingX LDO-USDTshort	+0.0100%	8h	0.4287	−0.169%	—	$10.0M	—
Backpack LDO_USDC_PERP	+0.0100%	1h	0.4293	−0.039%	$89K	$158K	10x	as long as short
Variational Omni LDO	+0.0100%	8h	0.4280	−0.324%	$202K	$71K	—	as long as short
GRVT LDO_USDT_Perp	+0.0100%	8h	0.4275	−0.449%	$303K	$3.4M	10x	as long as short
ApeX Omni LDOUSDT	+0.0100%	1h	0.4290	−0.099%	$33K	$643K	50x	as long as short
Polymarket Perps LDO-USD	+0.0100%	1h	0.4293	−0.023%	$23K	$717K	5x	as long as short
SunX LDO-USDT	+0.0100%	8h	0.4391	+2.253%	$2K	$1.3M	20x	as long as short
Extended LDO-USD	+0.0104%	1h	0.4280	−0.330%	$260K	$1.3M	25x	as long as short
Aevo LDO-PERP	+0.0104%	1h	0.4283	−0.258%	$38K	—	3x	as long as short
Lighter LDO	+0.0256%	1h	0.4296	+0.047%	$873K	$268K	10x	as long as short
GMX LDO/USD [ETH-USDC]	L +0.0319% / S −0.0201%	1h	0.4286	−0.202%	$23K	—	100x	as long as short
Reya LDORUSDPERP	+0.0338%	1h	0.4285	−0.213%	$299K	—	15x	as long as short
Kraken Futures PF_LDOUSD	+0.0562%	1h	0.4286	−0.197%	$1.2M	$784K	50x	as long as short