Funding you earn now, next payment 06:00 UTC+0.0067%/8h= +7.3% APRnext payment +$0.08 per $10,000 · paid last 24h +0.417%
Price spread now: Backpack against Injective+2.311%72s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+1.289%+$129 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Backpack is 2.311% dearer against Injective than usual: you sell high and buy low: +$231 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 72 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 | Injective LDO/USDC PERP | 0.4110 | 0.0033 | pay 0.0004% / 1h | 31m 46s | $4K | $11 | 12x |
| Short | Backpack LDO_USDC_PERP | 0.4205 | 0.0100 | get 0.0013% / 1h | 31m 46s | $89K | $180K | 10x |
Injective LDO/USDC PERP
Backpack LDO_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Injective. 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
- $14
- Price spread: +2.311% → 0.000%
- $231.14
- Slippage, 4 orders
- no order book: not counted
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $235.12
- Costs to cover
- 0.100%
- Break-even
- from the start
Slippage unknown: Injective: no order-book sample; Backpack: live order book, 16 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 Injective no order-book sample | — | — | — | — | — |
| Sell Backpack live order book, 16 min ago | 0.83 bp | 9.4 bp −$9 | doesn't fit | doesn't fit | doesn't fit |
Injective: 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 | 0.4196 | +2.092% | $117K | $40K | 50x | as long as short |
| dYdX LDO-USD | 0.0000% | 1h | 0.4206 | +2.343% | $81K | $5K | 5x | as long as short |
| Deribit LDO_USDC-PERPETUAL | 0.0000% | 1h | 0.4206 | +2.336% | $7K | $20K | 25x | as long as short |
| Injective LDO/USDC PERPlong | +0.0033% | 1h | 0.4110 | long leg | $4K | $11 | 12x | |
| Paradex LDO-USD-PERP | +0.0100% | 8h | 0.4203 | +2.261% | $3K | — | 20x | as long as short |
| Hyperliquid LDO | +0.0100% | 1h | 0.4206 | +2.341% | $11.5M | $3.1M | 5x | as long as short |
| Aster LDOUSDT | +0.0100% | 8h | 0.4208 | +2.377% | $166K | $91K | 10x | as long as short |
| Pacifica LDO | +0.0100% | 1h | 0.4205 | +2.322% | $107K | $27K | 10x | as long as short |
| Binance LDOUSDT | +0.0100% | 8h | 0.4206 | +2.336% | $17.7M | $30.8M | 75x | as long as short |
| Bybit LDOUSDT | +0.0100% | 8h | 0.4203 | +2.263% | $15.9M | $10.1M | 50x | as long as short |
Coinbase International LDO-PERP-INTX
dYdX LDO-USD
Deribit LDO_USDC-PERPETUAL
Paradex LDO-USD-PERP
Hyperliquid LDO
Aster LDOUSDT
Pacifica LDO
Binance LDOUSDT
Bybit LDOUSDTShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX LDO-USDT-SWAP | +0.0100% | 8h | 0.4204 | +2.287% | $4.0M | $6.7M | 50x | as long as short |
| Gate LDO_USDT | +0.0100% | 8h | 0.4204 | +2.287% | $1.4M | $1.1M | 50x | as long as short |
| MEXC LDO_USDT | +0.0100% | 8h | 0.4204 | +2.287% | $7.2M | $5.8M | 200x | as long as short |
| KuCoin LDOUSDTM | +0.0100% | 8h | 0.4206 | +2.336% | $2.7M | $3.5M | 50x | as long as short |
| Bitget LDOUSDT | +0.0100% | 8h | 0.4202 | +2.238% | $3.2M | $3.1M | 75x | as long as short |
| BingX LDO-USDT | +0.0100% | 8h | 0.4206 | +2.336% | — | $10.0M | — | as long as short |
| Backpack LDO_USDC_PERPshort | +0.0100% | 1h | 0.4205 | +2.311% | $89K | $180K | 10x | |
| Variational Omni LDO | +0.0100% | 8h | 0.4215 | +2.551% | $198K | $60K | — | as long as short |
| GRVT LDO_USDT_Perp | +0.0100% | 8h | 0.4217 | +2.603% | $304K | $3.5M | 10x | as long as short |
| ApeX Omni LDOUSDT | +0.0100% | 1h | 0.4220 | +2.676% | $32K | $639K | 50x | as long as short |
| Polymarket Perps LDO-USD | +0.0100% | 1h | 0.4207 | +2.353% | $22K | $379K | 5x | as long as short |
| SunX LDO-USDT | +0.0100% | 8h | 0.4307 | +4.793% | $1K | $1.2M | 20x | as long as short |
| Extended LDO-USD | +0.0104% | 1h | 0.4203 | +2.272% | $253K | $1.2M | 25x | as long as short |
| Aevo LDO-PERP | +0.0104% | 1h | 0.4203 | +2.262% | $37K | — | 3x | as long as short |
| BloFin LDO-USDT | +0.0130% | 8h | 0.4210 | +2.433% | $897K | $256K | 75x | as long as short |
| Lighter LDO | +0.0312% | 1h | 0.4213 | +2.511% | $849K | $265K | 10x | as long as short |
| GMX LDO/USD [ETH-USDC] | L +0.0318% / S −0.0201% | 1h | 0.4205 | +2.306% | $23K | — | 100x | as long as short |
| Reya LDORUSDPERP | +0.0343% | 1h | 0.4203 | +2.254% | $293K | — | 15x | as long as short |
| Kraken Futures PF_LDOUSD | +0.0601% | 1h | 0.4206 | +2.340% | $1.1M | $655K | 50x | as long as short |
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
BloFin LDO-USDT
Lighter LDO
GMX LDO/USD [ETH-USDC]
Reya LDORUSDPERP
Kraken Futures PF_LDOUSD