Funding you earn now, next payment 23:00 UTC+0.0016%/8h= +1.8% APRpaid last 24h −0.006%
Price spread now: Backpack against KuCoin−0.028%7-day average −0.001% · you buy dearer than you sell
Net, funding: paid 7d − costs−$120as in the Funding arb table
Net, price: spread back to 7d avg − costs−$121as in the Price arb table
costs, in and out, $10k−$1191.187% of the position
Funding, last 7 days−0.010%−$1 on $10k
+Price spread, last 4 days (all we have)−0.023%−$2 · spread now −0.028%, 7d avg −0.001%
=Funding pays, the price is against you. Backpack is 0.026% cheaper against KuCoin than usual: you would sell low and buy high (spread −0.028% now, against its 7-day average of −0.001%). If the spread goes back, that is −$3 on $10k: about 5.4 days of funding at the current rate ($0 a day).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | KuCoin LDOUSDTM | 0.4308 | 0.0100 | pay 0.0100% / 8h | 1h 52m | $2.8M | $4.3M | 50x |
| Short | Backpack LDO_USDC_PERP | 0.4307 | 0.0116 | get 0.0015% / 1h | 52m 38s | $86K | $186K | 10x |
KuCoin LDOUSDTM
Backpack LDO_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against KuCoin. 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
- $3.42
- Price spread: −0.028% → −0.001%
- −$2.65
- Slippage, 4 orders
- −$96.74
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$117.97
- Costs to cover
- 1.187%
- Break-even
- 248.4 days
Slippage from KuCoin: live order book, 5 min ago; Backpack: live order book, 30 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 KuCoin live order book, 5 min ago | 4.66 bp | 41.5 bp −$41 | 620.1 bp −$6,201 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 30 min ago | 1.83 bp | 16.2 bp −$16 | 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 | −0.0851% | 1h | 0.4270 | −0.882% | $4K | $13 | 12x | as long as short |
| Coinbase International LDO-PERP-INTX | −0.0600% | 1h | 0.4272 | −0.836% | $116K | $54K | 50x | as long as short |
| dYdX LDO-USD | 0.0000% | 1h | 0.4307 | −0.033% | $83K | $17K | 5x | as long as short |
| Deribit LDO_USDC-PERPETUAL | 0.0000% | 1h | 0.4308 | 0.000% | $3K | $10K | 25x | as long as short |
| BloFin LDO-USDT | +0.0095% | 8h | 0.4309 | +0.023% | $788K | $228K | 75x | as long as short |
| Paradex LDO-USD-PERP | +0.0100% | 8h | 0.4310 | +0.038% | $3K | $56 | 20x | as long as short |
| Hyperliquid LDO | +0.0100% | 1h | 0.4311 | +0.065% | $11.9M | $3.8M | 5x | as long as short |
| Aster LDOUSDT | +0.0100% | 8h | 0.4311 | +0.079% | $170K | $152K | 10x | as long as short |
| Pacifica LDO | +0.0100% | 1h | 0.4311 | +0.060% | $111K | $178K | 10x | as long as short |
| Binance LDOUSDT | +0.0100% | 8h | 0.4311 | +0.079% | $17.9M | $38.4M | 75x | as long as short |
Injective LDO/USDC PERP
Coinbase International LDO-PERP-INTX
dYdX LDO-USD
Deribit LDO_USDC-PERPETUAL
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 | 0.4308 | 0.000% | $16.4M | $13.3M | 50x | as long as short |
| OKX LDO-USDT-SWAP | +0.0100% | 8h | 0.4308 | 0.000% | $4.1M | $9.1M | 50x | as long as short |
| Gate LDO_USDT | +0.0100% | 8h | 0.4310 | +0.046% | $1.4M | $1.1M | 50x | as long as short |
| MEXC LDO_USDT | +0.0100% | 8h | 0.4310 | +0.046% | $8.6M | $7.6M | 200x | as long as short |
| KuCoin LDOUSDTMlong | +0.0100% | 8h | 0.4308 | long leg | $2.8M | $4.3M | 50x | |
| Bitget LDOUSDT | +0.0100% | 8h | 0.4307 | −0.023% | $3.4M | $3.8M | 75x | as long as short |
| BingX LDO-USDT | +0.0100% | 8h | 0.4309 | +0.023% | — | $3.8M | — | as long as short |
| Variational Omni LDO | +0.0100% | 8h | 0.4306 | −0.043% | $201K | $88K | — | as long as short |
| GRVT LDO_USDT_Perp | +0.0100% | 8h | 0.4317 | +0.209% | $310K | $3.5M | 10x | as long as short |
| ApeX Omni LDOUSDT | +0.0100% | 1h | 0.4320 | +0.279% | $35K | $648K | 50x | as long as short |
| Polymarket Perps LDO-USD | +0.0100% | 1h | 0.4311 | +0.067% | $23K | $740K | 5x | as long as short |
| SunX LDO-USDT | +0.0100% | 8h | 0.4410 | +2.368% | $1K | $1.5M | 20x | as long as short |
| Extended LDO-USD | +0.0104% | 1h | 0.4307 | −0.028% | $259K | $1.0M | 25x | as long as short |
| Aevo LDO-PERP | +0.0104% | 1h | 0.4308 | 0.000% | $38K | — | 3x | as long as short |
| Backpack LDO_USDC_PERPshort | +0.0116% | 1h | 0.4307 | −0.028% | $86K | $186K | 10x | |
| Lighter LDO | +0.0120% | 1h | 0.4323 | +0.355% | $877K | $267K | 10x | as long as short |
| Kraken Futures PF_LDOUSD | +0.0298% | 1h | 0.4312 | +0.083% | $1.1M | $564K | 50x | as long as short |
| GMX LDO/USD [ETH-USDC] | L +0.0319% / S −0.0201% | 1h | 0.4310 | +0.042% | $24K | — | 100x | as long as short |
| Reya LDORUSDPERP | +0.0333% | 1h | 0.4306 | −0.053% | $300K | — | 15x | as long as short |
Bybit LDOUSDT
OKX LDO-USDT-SWAP
Gate LDO_USDT
MEXC LDO_USDT
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
Lighter LDO
Kraken Futures PF_LDOUSD
GMX LDO/USD [ETH-USDC]
Reya LDORUSDPERP