Funding you earn now, next payment 01:00 UTC−0.0220%/8h= −24.0% APRnext payment −$0.27 per $10,000 · paid last 24h −0.052%
Price spread now: Backpack against GMX−0.204%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
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—needs both histories
Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Backpack is 0.204% cheaper against GMX than usual: you would sell low and buy high (−$20 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | GMX LDO/USD [ETH-USDC] | 0.4327 | L +0.0320% / S −0.0201% | pay 0.0040% / 1h | 19m 17s | $24K | — | 100x |
| Short | Backpack LDO_USDC_PERP | 0.4318 | 0.0100 | get 0.0013% / 1h | 19m 17s | $87K | $148K | 10x |
GMX LDO/USD [ETH-USDC]
Backpack LDO_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against GMX. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$46.1
- Price spread: −0.204% → 0.000%
- −$20.39
- Slippage, 4 orders
- no order book: not counted
- Fee GMX: 6 bp × 2 orders
- −$12
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$88.48
- Costs to cover
- 0.220%
- Break-even
- never at this rate
Slippage unknown: GMX: no order-book sample; Backpack: live order book, 54 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 GMX no order-book sample | — | — | — | — | — |
| Sell Backpack live order book, 54 min ago | 0.58 bp | 10.0 bp −$10 | doesn't fit | doesn't fit | doesn't fit |
GMX: 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 | −0.0752% | 1h | 0.4316 | −0.245% | $118K | $53K | 50x | as long as short |
| dYdX LDO-USD | 0.0000% | 1h | 0.4320 | −0.153% | $83K | $17K | 5x | as long as short |
| Deribit LDO_USDC-PERPETUAL | 0.0000% | 1h | 0.4325 | −0.037% | $3K | $10K | 25x | as long as short |
| Injective LDO/USDC PERP | +0.0033% | 1h | 0.4110 | −5.007% | $4K | $14 | 12x | as long as short |
| BloFin LDO-USDT | +0.0086% | 8h | 0.4319 | −0.176% | $790K | $217K | 75x | as long as short |
| Paradex LDO-USD-PERP | +0.0100% | 8h | 0.4323 | −0.094% | $3K | — | 20x | as long as short |
| Hyperliquid LDO | +0.0100% | 1h | 0.4328 | +0.034% | $12.0M | $4.1M | 5x | as long as short |
| Aster LDOUSDT | +0.0100% | 8h | 0.4326 | −0.012% | $170K | $149K | 10x | as long as short |
| Pacifica LDO | +0.0100% | 1h | 0.4326 | −0.024% | $111K | $178K | 10x | as long as short |
| Binance LDOUSDT | +0.0100% | 8h | 0.4322 | −0.116% | $18.1M | $37.6M | 75x | as long as short |
Coinbase International LDO-PERP-INTX
dYdX LDO-USD
Deribit LDO_USDC-PERPETUAL
Injective LDO/USDC PERP
BloFin LDO-USDT
Paradex LDO-USD-PERP
Hyperliquid LDO
Aster LDOUSDT
Pacifica LDO
Binance LDOUSDTShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit LDOUSDT | +0.0100% | 8h | 0.4316 | −0.245% | $16.4M | $12.0M | 50x | as long as short |
| OKX LDO-USDT-SWAP | +0.0100% | 8h | 0.4316 | −0.245% | $4.1M | $9.0M | 50x | as long as short |
| Gate LDO_USDT | +0.0100% | 8h | 0.4324 | −0.061% | $1.5M | $1.0M | 50x | as long as short |
| MEXC LDO_USDT | +0.0100% | 8h | 0.4325 | −0.037% | $8.0M | $7.5M | 200x | as long as short |
| KuCoin LDOUSDTM | +0.0100% | 8h | 0.4325 | −0.037% | $2.8M | $4.1M | 50x | as long as short |
| Bitget LDOUSDT | +0.0100% | 8h | 0.4322 | −0.107% | $3.4M | $3.6M | 75x | as long as short |
| BingX LDO-USDT | +0.0100% | 8h | 0.4326 | −0.014% | — | $10.1M | — | as long as short |
| Backpack LDO_USDC_PERPshort | +0.0100% | 1h | 0.4318 | −0.204% | $87K | $148K | 10x | |
| Variational Omni LDO | +0.0100% | 8h | 0.4309 | −0.412% | $202K | $81K | — | as long as short |
| GRVT LDO_USDT_Perp | +0.0100% | 8h | 0.4313 | −0.314% | $309K | $3.5M | 10x | as long as short |
| ApeX Omni LDOUSDT | +0.0100% | 1h | 0.4310 | −0.384% | $35K | $644K | 50x | as long as short |
| Polymarket Perps LDO-USD | +0.0100% | 1h | 0.4326 | −0.005% | $23K | $731K | 5x | as long as short |
| SunX LDO-USDT | +0.0100% | 8h | 0.4425 | +2.274% | $2K | $1.4M | 20x | as long as short |
| Extended LDO-USD | +0.0104% | 1h | 0.4321 | −0.124% | $263K | $1.4M | 25x | as long as short |
| Aevo LDO-PERP | +0.0104% | 1h | 0.4325 | −0.041% | $38K | — | 3x | as long as short |
| Kraken Futures PF_LDOUSD | +0.0196% | 1h | 0.4325 | −0.048% | $1.1M | $526K | 50x | as long as short |
| GMX LDO/USD [ETH-USDC]long | L +0.0320% / S −0.0201% | 1h | 0.4327 | long leg | $24K | — | 100x | |
| Reya LDORUSDPERP | +0.0336% | 1h | 0.4323 | −0.075% | $302K | — | 15x | as long as short |
| Lighter LDO | +0.0616% | 1h | 0.4330 | +0.080% | $879K | $267K | 10x | as long as short |
Bybit LDOUSDT
OKX LDO-USDT-SWAP
Gate LDO_USDT
MEXC LDO_USDT
KuCoin LDOUSDTM
Bitget LDOUSDT
BingX LDO-USDT
Variational Omni LDO
GRVT LDO_USDT_Perp
ApeX Omni LDOUSDT
Polymarket Perps LDO-USD
SunX LDO-USDT
Extended LDO-USD
Aevo LDO-PERP
Kraken Futures PF_LDOUSD
Reya LDORUSDPERP
Lighter LDO