Funding arb · Price arb /

LDO

all LDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0208%/8h= +22.8% APRpaid last 24h +0.027%

Price spread now: GMX against GRVT−0.156%7-day average — · you buy dearer than you sell

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

Long on GRVT Short on GMX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

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

Funding pays, the price is against you. GMX is 0.156% cheaper against GRVT than usual: you would sell low and buy high (spread −0.156% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$16 on $10k: about 2.5 days of funding at the current rate (+$6 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT LDO_USDT_Perp	0.4178	0.0100	pay 0.0100% / 8h	5h 58m	$294K	$3.4M	10x
Short	GMX LDO/USD [ETH-USDC]	0.4172	L +0.0385% / S −0.0308%	get 0.0038% / 1h	58m 55s	$29K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against GRVT. 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 GRVTbpFee GMXbpOrdersPrice spread, now −0.156%Rate

Funding earned: $43.65
Price spread: −0.156% → 0.000%: −$15.62
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee GMX: 6 bp × 2 orders: −$12
Net: $7.03
Costs to cover: 0.210%
Break-even: 5.9 days

Slippage unknown: GRVT: live order book, 3 min ago; GMX: no order-book sample. 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 GRVT live order book, 3 min ago	1.20 bp	27.8 bp −$28	142.7 bp −$1,427	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

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 exchanges

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	−0.0384%	1h	0.4143	−0.842%	$114K	$47K	50x	as long as short
Backpack LDO_USDC_PERP	−0.0011%	1h	0.4169	−0.212%	$87K	$173K	10x	as long as short
dYdX LDO-USD	0.0000%	1h	0.4177	−0.030%	$80K	$2K	5x	as long as short
Deribit LDO_USDC-PERPETUAL	0.0000%	1h	0.4171	−0.172%	$7K	$10K	25x	as long as short
Injective LDO/USDC PERP	+0.0033%	1h	0.4110	−1.632%	$4K	$10	12x	as long as short
Paradex LDO-USD-PERP	+0.0100%	8h	0.4170	−0.187%	$3K	—	20x	as long as short
Hyperliquid LDO	+0.0100%	1h	0.4174	−0.107%	$11.4M	$2.9M	5x	as long as short
Aster LDOUSDT	+0.0100%	8h	0.4174	−0.103%	$164K	$53K	10x	as long as short
Pacifica LDO	+0.0100%	1h	0.4174	−0.093%	$105K	$7K	10x	as long as short
Binance LDOUSDT	+0.0100%	8h	0.4170	−0.196%	$17.5M	$30.8M	75x	as long as short

Show all 29 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit LDOUSDT	+0.0100%	8h	0.4169	−0.220%	$16.0M	$9.4M	50x	as long as short
OKX LDO-USDT-SWAP	+0.0100%	8h	0.4170	−0.196%	$4.0M	$6.0M	50x	as long as short
Gate LDO_USDT	+0.0100%	8h	0.4172	−0.148%	$1.6M	$1.1M	50x	as long as short
MEXC LDO_USDT	+0.0100%	8h	0.4170	−0.196%	$6.3M	$5.0M	200x	as long as short
KuCoin LDOUSDTM	+0.0100%	8h	0.4170	−0.196%	$2.6M	$2.9M	50x	as long as short
Bitget LDOUSDT	+0.0100%	8h	0.4168	−0.244%	$3.2M	$2.5M	75x	as long as short
BingX LDO-USDT	+0.0100%	8h	0.4168	−0.244%	—	$10.0M	—	as long as short
Variational Omni LDO	+0.0100%	8h	0.4164	−0.339%	$198K	$51K	—	as long as short
GRVT LDO_USDT_Perplong	+0.0100%	8h	0.4178	long leg	$294K	$3.4M	10x
ApeX Omni LDOUSDT	+0.0100%	1h	0.4170	−0.196%	$31K	$632K	50x	as long as short
Polymarket Perps LDO-USD	+0.0100%	1h	0.4172	−0.148%	$24K	$309K	5x	as long as short
SunX LDO-USDT	+0.0100%	8h	0.4269	+2.174%	$1K	$1.1M	20x	as long as short
BloFin LDO-USDT	+0.0103%	8h	0.4174	−0.100%	$883K	$267K	75x	as long as short
Lighter LDO	+0.0104%	1h	0.4180	+0.044%	$843K	$243K	10x	as long as short
Extended LDO-USD	+0.0104%	1h	0.4168	−0.247%	$252K	$1.4M	25x	as long as short
Aevo LDO-PERP	+0.0104%	1h	0.4173	−0.136%	$37K	—	3x	as long as short
Reya LDORUSDPERP	+0.0349%	1h	0.4169	−0.219%	$291K	—	15x	as long as short
Kraken Futures PF_LDOUSD	+0.0362%	1h	0.4173	−0.126%	$1.0M	$743K	50x	as long as short
GMX LDO/USD [ETH-USDC]short	L +0.0385% / S −0.0308%	1h	0.4172	−0.156%	$29K	—	100x