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 +0.029%

Price spread now: Bitget against dYdX−0.075%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 Bitget

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. Bitget is 0.075% cheaper against dYdX than usual: you would sell low and buy high (spread −0.075% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$7 on $10k: about 2.5 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	0.4218	0	get 0.0000% / 1h	41m 33s	$81K	$5K	5x
Short	Bitget LDOUSDT	0.4215	0.0100	get 0.0100% / 8h	2h 41m	$3.2M	$3.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.075%Rate

Funding earned: $21
Price spread: −0.075% → 0.000%: −$7.48
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$8.48
Costs to cover: 0.220%
Break-even: 9.8 days

Slippage unknown: dYdX: no order-book sample; Bitget: live order book, 1 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 Bitget live order book, 1 min ago	2.38 bp	14.8 bp −$15	31.8 bp −$318	doesn't fit	doesn't fit

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 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	0.4189	−0.691%	$116K	$40K	50x	as long as short
dYdX LDO-USDlong	0.0000%	1h	0.4218	long leg	$81K	$5K	5x
Deribit LDO_USDC-PERPETUAL	0.0000%	1h	0.4215	−0.075%	$7K	$20K	25x	as long as short
Injective LDO/USDC PERP	+0.0033%	1h	0.4110	−2.564%	$4K	$11	12x	as long as short
BloFin LDO-USDT	+0.0091%	8h	0.4217	−0.027%	$897K	$256K	75x	as long as short
Paradex LDO-USD-PERP	+0.0100%	8h	0.4213	−0.117%	$3K	—	20x	as long as short
Hyperliquid LDO	+0.0100%	1h	0.4221	+0.065%	$11.5M	$3.1M	5x	as long as short
Aster LDOUSDT	+0.0100%	8h	0.4220	+0.042%	$166K	$91K	10x	as long as short
Pacifica LDO	+0.0100%	1h	0.4218	−0.004%	$108K	$27K	10x	as long as short
Binance LDOUSDT	+0.0100%	8h	0.4218	+0.005%	$17.7M	$30.8M	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	0.4215	−0.075%	$15.9M	$10.1M	50x	as long as short
OKX LDO-USDT-SWAP	+0.0100%	8h	0.4215	−0.075%	$4.0M	$6.7M	50x	as long as short
Gate LDO_USDT	+0.0100%	8h	0.4215	−0.075%	$1.4M	$1.1M	50x	as long as short
MEXC LDO_USDT	+0.0100%	8h	0.4218	−0.004%	$7.3M	$5.8M	200x	as long as short
KuCoin LDOUSDTM	+0.0100%	8h	0.4219	+0.020%	$2.7M	$3.5M	50x	as long as short
Bitget LDOUSDTshort	+0.0100%	8h	0.4215	−0.075%	$3.2M	$3.1M	75x
BingX LDO-USDT	+0.0100%	8h	0.4216	−0.051%	—	$10.0M	—	as long as short
Backpack LDO_USDC_PERP	+0.0100%	1h	0.4215	−0.082%	$90K	$179K	10x	as long as short
Variational Omni LDO	+0.0100%	8h	0.4217	−0.033%	$198K	$60K	—	as long as short
GRVT LDO_USDT_Perp	+0.0100%	8h	0.4217	−0.017%	$299K	$3.5M	10x	as long as short
ApeX Omni LDOUSDT	+0.0100%	1h	0.4220	+0.044%	$32K	$639K	50x	as long as short
Polymarket Perps LDO-USD	+0.0100%	1h	0.4214	−0.106%	$27K	$368K	5x	as long as short
SunX LDO-USDT	+0.0100%	8h	0.4311	+2.201%	$1K	$1.2M	20x	as long as short
Extended LDO-USD	+0.0104%	1h	0.4212	−0.136%	$253K	$1.2M	25x	as long as short
Aevo LDO-PERP	+0.0104%	1h	0.4216	−0.061%	$37K	—	3x	as long as short
GMX LDO/USD [ETH-USDC]	L +0.0318% / S −0.0201%	1h	0.4212	−0.139%	$23K	—	100x	as long as short
Reya LDORUSDPERP	+0.0343%	1h	0.4210	−0.200%	$294K	—	15x	as long as short
Lighter LDO	+0.0384%	1h	0.4226	+0.179%	$852K	$263K	10x	as long as short
Kraken Futures PF_LDOUSD	+0.0599%	1h	0.4220	+0.043%	$1.1M	$658K	50x	as long as short