Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.014%
Price spread now: Backpack against GRVT−0.194%85s7-day average −0.020% · you buy dearer than you sell
Net, funding: paid 7d − costs−$76as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$590.591% of the position
Funding, last 7 days−0.166%−$17 on $10k
+Price spread, last 4 days (all we have)−0.184%−$18 · spread now −0.194%, 7d avg −0.020%
=Together, before fees−0.350%+ Points / potential airdropGRVT: Active · farm board−$35 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Backpack is 0.174% cheaper against GRVT than usual: you would sell low and buy high, −$17 on $10k if it goes back to its 7-day average of −0.020%. The two prices were read 85 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | GRVT LDO_USDT_Perp | 0.4300 | 0.0100 | pay 0.0100% / 8h | 12m 01s | $303K | $3.5M | 10x |
| Short | Backpack LDO_USDC_PERP | 0.4292 | 0.0100 | get 0.0013% / 1h | 12m 01s | $85K | $180K | 10x |
GRVT LDO_USDT_Perp
Backpack LDO_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against GRVT. 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
- $0
- Price spread: −0.194% → −0.020%
- −$17.43
- Slippage, 4 orders
- −$40.12
- Fee GRVT: 4.5 bp × 2 orders
- −$9
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$76.55
- Costs to cover
- 0.591%
- Break-even
- never at this rate
Slippage from GRVT: live order book, 2 min ago; Backpack: live order book, 1 min ago.
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 GRVT live order book, 2 min ago | 1.16 bp | 20.3 bp −$20 | 86.1 bp −$861 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 1 min ago | 0.58 bp | 10.0 bp −$10 | doesn't fit | doesn't fit | doesn't fit |
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 | −0.5000% | 1h | 0.4110 | −4.417% | $4K | $14 | 12x | as long as short |
| Coinbase International LDO-PERP-INTX | −0.1016% | 1h | 0.4300 | +0.001% | $117K | $52K | 50x | as long as short |
| dYdX LDO-USD | 0.0000% | 1h | 0.4294 | −0.133% | $83K | $17K | 5x | as long as short |
| Kraken Futures PF_LDOUSD | +0.0027% | 1h | 0.4293 | −0.152% | $1.1M | $527K | 50x | as long as short |
| BloFin LDO-USDT | +0.0094% | 8h | 0.4298 | −0.045% | $790K | $218K | 75x | as long as short |
| Paradex LDO-USD-PERP | +0.0100% | 8h | 0.4290 | −0.240% | $3K | $56 | 20x | as long as short |
| Hyperliquid LDO | +0.0100% | 1h | 0.4295 | −0.117% | $12.0M | $4.0M | 5x | as long as short |
| Aster LDOUSDT | +0.0100% | 8h | 0.4295 | −0.122% | $169K | $149K | 10x | as long as short |
| Pacifica LDO | +0.0100% | 1h | 0.4292 | −0.185% | $110K | $178K | 10x | as long as short |
| Binance LDOUSDT | +0.0100% | 8h | 0.4293 | −0.152% | $18.0M | $37.9M | 75x | as long as short |
Injective LDO/USDC PERP
Coinbase International LDO-PERP-INTX
dYdX LDO-USD
Kraken Futures PF_LDOUSD
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 | 0.4290 | −0.231% | $16.3M | $12.5M | 50x | as long as short |
| OKX LDO-USDT-SWAP | +0.0100% | 8h | 0.4289 | −0.255% | $4.1M | $9.1M | 50x | as long as short |
| Gate LDO_USDT | +0.0100% | 8h | 0.4290 | −0.231% | $1.4M | $1.1M | 50x | as long as short |
| MEXC LDO_USDT | +0.0100% | 8h | 0.4291 | −0.208% | $7.9M | $7.5M | 200x | as long as short |
| KuCoin LDOUSDTM | +0.0100% | 8h | 0.4293 | −0.161% | $2.8M | $4.2M | 50x | as long as short |
| Bitget LDOUSDT | +0.0100% | 8h | 0.4294 | −0.138% | $3.4M | $3.6M | 75x | as long as short |
| BingX LDO-USDT | +0.0100% | 8h | 0.4290 | −0.231% | — | $3.7M | — | as long as short |
| Backpack LDO_USDC_PERPshort | +0.0100% | 1h | 0.4292 | −0.194% | $85K | $180K | 10x | |
| Variational Omni LDO | +0.0100% | 8h | 0.4291 | −0.211% | $201K | $82K | — | as long as short |
| GRVT LDO_USDT_Perplong | +0.0100% | 8h | 0.4300 | long leg | $303K | $3.5M | 10x | |
| ApeX Omni LDOUSDT | +0.0100% | 1h | 0.4290 | −0.231% | $34K | $646K | 50x | as long as short |
| Polymarket Perps LDO-USD | +0.0100% | 1h | 0.4296 | −0.101% | $23K | $736K | 5x | as long as short |
| SunX LDO-USDT | +0.0100% | 8h | 0.4395 | +2.211% | $2K | $1.5M | 20x | as long as short |
| Extended LDO-USD | +0.0104% | 1h | 0.4288 | −0.279% | $258K | $1.0M | 25x | as long as short |
| Aevo LDO-PERP | +0.0104% | 1h | 0.4293 | −0.171% | $38K | — | 3x | as long as short |
| Deribit LDO_USDC-PERPETUAL | +0.0216% | 1h | 0.4293 | −0.161% | $3K | $10K | 25x | as long as short |
| Lighter LDO | +0.0264% | 1h | 0.4300 | +0.008% | $873K | $269K | 10x | as long as short |
| GMX LDO/USD [ETH-USDC] | L +0.0318% / S −0.0201% | 1h | 0.4294 | −0.135% | $23K | — | 100x | as long as short |
| Reya LDORUSDPERP | +0.0335% | 1h | 0.4291 | −0.215% | $299K | — | 15x | 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
ApeX Omni LDOUSDT
Polymarket Perps LDO-USD
SunX LDO-USDT
Extended LDO-USD
Aevo LDO-PERP
Deribit LDO_USDC-PERPETUAL
Lighter LDO
GMX LDO/USD [ETH-USDC]
Reya LDORUSDPERP