Funding arb · Price arb /

LDO

all LDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0432%/8h= +47.3% APRpaid last 24h +0.019%

Price spread now: KuCoin against Kraken Futures+0.140%52s7-day average −0.062% · you sell dearer than you buy

Net, funding: paid 7d − costs−$149as 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−$1421.417% of the position

Long on Kraken Futures Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.069%−$7 on $10k

Price spread, last 3 days (all we have)−0.159%−$16 · spread now +0.140%, 7d avg −0.062%

Together, before fees−0.228%−$23 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$13 a day on $10k at the current rate, and KuCoin is 0.203% dearer against Kraken Futures than usual: you sell high and buy low: +$20 more if the spread goes back to its 7-day average of −0.062%. Mind the row above: over the last 7 days funding on this pair cost −0.069%, so the current rate has only just turned in your favour. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.069% in total (about -3.6% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_LDOUSD	0.4281	−0.0332	get 0.0042% / 1h	4m 30s	$1.1M	$564K	50x
Short	KuCoin LDOUSDTM	0.4287	0.0100	get 0.0100% / 8h	2h 04m	$2.8M	$4.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Kraken Futures. 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 Kraken FuturesbpFee KuCoinbpOrdersPrice spread, now +0.140%Rate

Funding earned: $90.81
Price spread: +0.140% → −0.062%: $20.27
Slippage, 4 orders: −$119.68
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$30.6
Costs to cover: 1.417%
Break-even: 9.4 days

Slippage from Kraken Futures: live order book, 4 min ago; KuCoin: live order book, 3 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 Kraken Futures live order book, 4 min ago	13.83 bp	24.1 bp −$24	94.6 bp −$946	doesn't fit	doesn't fit
Sell KuCoin live order book, 3 min ago	1.15 bp	43.6 bp −$44	253.5 bp −$2,535	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
Coinbase International LDO-PERP-INTX	−0.0688%	1h	0.4290	+0.211%	$116K	$54K	50x	as long as short
Deribit LDO_USDC-PERPETUAL	−0.0450%	1h	0.4280	−0.023%	$3K	$10K	25x	as long as short
Kraken Futures PF_LDOUSDlong	−0.0332%	1h	0.4281	long leg	$1.1M	$564K	50x
dYdX LDO-USD	+0.0013%	1h	0.4288	+0.159%	$83K	$17K	5x	as long as short
Injective LDO/USDC PERP	+0.0033%	1h	0.4270	−0.257%	$4K	$11	12x	as long as short
BloFin LDO-USDT	+0.0096%	8h	0.4283	+0.047%	$787K	$226K	75x	as long as short
Lighter LDO	+0.0096%	1h	0.4303	+0.510%	$872K	$266K	10x	as long as short
Paradex LDO-USD-PERP	+0.0100%	8h	0.4288	+0.162%	$3K	$56	20x	as long as short
Hyperliquid LDO	+0.0100%	1h	0.4288	+0.152%	$11.8M	$3.8M	5x	as long as short
Aster LDOUSDT	+0.0100%	8h	0.4287	+0.130%	$169K	$149K	10x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica LDO	+0.0100%	1h	0.4288	+0.166%	$110K	$178K	10x	as long as short
Binance LDOUSDT	+0.0100%	8h	0.4288	+0.157%	$17.9M	$38.3M	75x	as long as short
Bybit LDOUSDT	+0.0100%	8h	0.4284	+0.070%	$16.3M	$13.3M	50x	as long as short
OKX LDO-USDT-SWAP	+0.0100%	8h	0.4282	+0.024%	$4.0M	$9.1M	50x	as long as short
Gate LDO_USDT	+0.0100%	8h	0.4285	+0.094%	$1.4M	$1.1M	50x	as long as short
MEXC LDO_USDT	+0.0100%	8h	0.4285	+0.094%	$8.5M	$7.7M	200x	as long as short
KuCoin LDOUSDTMshort	+0.0100%	8h	0.4287	+0.140%	$2.8M	$4.3M	50x
Bitget LDOUSDT	+0.0100%	8h	0.4283	+0.047%	$3.3M	$3.8M	75x	as long as short
BingX LDO-USDT	+0.0100%	8h	0.4285	+0.094%	—	$3.9M	—	as long as short
Backpack LDO_USDC_PERP	+0.0100%	1h	0.4282	+0.026%	$85K	$185K	10x	as long as short
Variational Omni LDO	+0.0100%	8h	0.4321	+0.942%	$202K	$88K	—	as long as short
GRVT LDO_USDT_Perp	+0.0100%	8h	0.4334	+1.233%	$303K	$3.5M	10x	as long as short
ApeX Omni LDOUSDT	+0.0100%	1h	0.4330	+1.145%	$35K	$648K	50x	as long as short
Polymarket Perps LDO-USD	+0.0100%	1h	0.4288	+0.162%	$23K	$740K	5x	as long as short
SunX LDO-USDT	+0.0100%	8h	0.4421	+3.271%	$2K	$1.5M	20x	as long as short
Extended LDO-USD	+0.0104%	1h	0.4282	+0.024%	$257K	$1.0M	25x	as long as short
Aevo LDO-PERP	+0.0104%	1h	0.4286	+0.107%	$38K	—	3x	as long as short
GMX LDO/USD [ETH-USDC]	L +0.0318% / S −0.0201%	1h	0.4287	+0.129%	$23K	—	100x	as long as short
Reya LDORUSDPERP	+0.0333%	1h	0.4283	+0.038%	$299K	—	15x	as long as short