Funding arb · Price arb /

LDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.018%

Price spread now: Variational Omni against dYdX−0.148%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 Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Funding pays, the price is against you. Variational Omni is 0.148% cheaper against dYdX than usual: you would sell low and buy high (spread −0.148% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$15 on $10k: about 4.9 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	0.4334	0	get 0.0000% / 1h	12m 56s	$84K	$17K	5x
Short	Variational Omni LDO	0.4328	0.0100	get 0.0100% / 8h	1h 12m	$203K	$83K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.148%Rate

Funding earned: $21
Price spread: −0.148% → 0.000%: −$14.84
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$3.84
Costs to cover: 0.100%
Break-even: 8.3 days

Slippage unknown: dYdX: no order-book sample; Variational Omni: RFQ quote, 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 dYdX no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 6 min ago	4.62 bp	doesn't fit	34.6 bp −$346	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
Injective LDO/USDC PERP	−0.0851%	1h	0.4110	−5.177%	$4K	$14	12x	as long as short
Coinbase International LDO-PERP-INTX	−0.0600%	1h	0.4312	−0.517%	$117K	$55K	50x	as long as short
dYdX LDO-USDlong	0.0000%	1h	0.4334	long leg	$84K	$17K	5x
Deribit LDO_USDC-PERPETUAL	0.0000%	1h	0.4333	−0.032%	$3K	$10K	25x	as long as short
BloFin LDO-USDT	+0.0095%	8h	0.4337	+0.060%	$786K	$224K	75x	as long as short
Paradex LDO-USD-PERP	+0.0100%	8h	0.4333	−0.041%	$3K	$56	20x	as long as short
Hyperliquid LDO	+0.0100%	1h	0.4340	+0.139%	$12.2M	$4.0M	5x	as long as short
Aster LDOUSDT	+0.0100%	8h	0.4336	+0.027%	$171K	$152K	10x	as long as short
Pacifica LDO	+0.0100%	1h	0.4335	+0.014%	$111K	$178K	10x	as long as short
Binance LDOUSDT	+0.0100%	8h	0.4336	+0.037%	$18.0M	$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	0.4333	−0.032%	$16.5M	$12.9M	50x	as long as short
OKX LDO-USDT-SWAP	+0.0100%	8h	0.4330	−0.101%	$4.1M	$9.1M	50x	as long as short
Gate LDO_USDT	+0.0100%	8h	0.4334	−0.009%	$1.4M	$1.1M	50x	as long as short
MEXC LDO_USDT	+0.0100%	8h	0.4335	+0.014%	$8.5M	$7.6M	200x	as long as short
KuCoin LDOUSDTM	+0.0100%	8h	0.4334	−0.009%	$2.8M	$4.3M	50x	as long as short
Bitget LDOUSDT	+0.0100%	8h	0.4332	−0.055%	$3.4M	$3.7M	75x	as long as short
BingX LDO-USDT	+0.0100%	8h	0.4332	−0.055%	—	$3.7M	—	as long as short
Backpack LDO_USDC_PERP	+0.0100%	1h	0.4334	−0.014%	$85K	$180K	10x	as long as short
Variational Omni LDOshort	+0.0100%	8h	0.4328	−0.148%	$203K	$83K	—
GRVT LDO_USDT_Perp	+0.0100%	8h	0.4331	−0.082%	$307K	$3.4M	10x	as long as short
ApeX Omni LDOUSDT	+0.0100%	1h	0.4330	−0.101%	$35K	$648K	50x	as long as short
Polymarket Perps LDO-USD	+0.0100%	1h	0.4332	−0.046%	$23K	$736K	5x	as long as short
SunX LDO-USDT	+0.0100%	8h	0.4435	+2.321%	$2K	$1.5M	20x	as long as short
Extended LDO-USD	+0.0104%	1h	0.4331	−0.081%	$260K	$1.0M	25x	as long as short
Aevo LDO-PERP	+0.0104%	1h	0.4333	−0.021%	$38K	—	3x	as long as short
Kraken Futures PF_LDOUSD	+0.0296%	1h	0.4336	+0.048%	$1.1M	$527K	50x	as long as short
Lighter LDO	+0.0296%	1h	0.4343	+0.208%	$881K	$268K	10x	as long as short
GMX LDO/USD [ETH-USDC]	L +0.0319% / S −0.0201%	1h	0.4332	−0.055%	$24K	—	100x	as long as short
Reya LDORUSDPERP	+0.0334%	1h	0.4327	−0.166%	$302K	—	15x	as long as short