LDO

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0612%/8h= −67.0% APRnext payment −$0.77 per $10,000 · paid last 24h −0.325%

Price spread now: Coinbase International against Polymarket Perps−0.743%7-day average −0.091% · you buy dearer than you sell

Net, funding: paid 7d − costs−$103as in the Funding arb table

Net, price: spread back to 7d avg − costs−$128as in the Price arb table

costs, in and out, $10k−$630.630% of the position

Long on Polymarket Perps Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.402%−$40 on $10k

Price spread, last 4 days (all we have)+1.020%+$102 · spread now −0.743%, 7d avg −0.091%

Together, before fees+0.619%+$62 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$18 a day on $10k at the current rate, and Coinbase International is 0.652% cheaper against Polymarket Perps than usual: you would sell low and buy high (−$65 if the spread goes back to its 7-day average of −0.091%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.402% in total (about -20.9% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.77 per $10,000. 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	Polymarket Perps LDO-USD	0.4291	0.0100	pay 0.0013% / 1h	42m 15s	$23K	$686K	5x
Short	Coinbase International LDO-PERP-INTX	0.4259	−0.0512	pay 0.0064% / 1h	42m 15s	$119K	$43K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Polymarket Perps. 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 Polymarket PerpsbpFee Coinbase InternationalbpOrdersPrice spread, now −0.743%Rate

Funding earned: −$128.52
Price spread: −0.743% → −0.091%: −$65.24
Slippage, 4 orders: −$44.96
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$256.72
Costs to cover: 0.630%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 21 min ago; Coinbase International: live order book, 20 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 Polymarket Perps live order book, 21 min ago	4.30 bp	8.3 bp −$8	8.4 bp −$84	doesn't fit	doesn't fit
Sell Coinbase International live order book, 20 min ago	13.96 bp	19.0 bp −$19	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
Coinbase International LDO-PERP-INTXshort	−0.0512%	1h	0.4259	−0.743%	$119K	$43K	50x
dYdX LDO-USD	0.0000%	1h	0.4287	−0.087%	$83K	$5K	5x	as long as short
Deribit LDO_USDC-PERPETUAL	0.0000%	1h	0.4289	−0.044%	$7K	$20K	25x	as long as short
Injective LDO/USDC PERP	+0.0033%	1h	0.4110	−4.216%	$4K	$13	12x	as long as short
Paradex LDO-USD-PERP	+0.0100%	8h	0.4286	−0.103%	$3K	—	20x	as long as short
Hyperliquid LDO	+0.0100%	1h	0.4292	+0.019%	$11.7M	$3.3M	5x	as long as short
Aster LDOUSDT	+0.0100%	8h	0.4293	+0.046%	$169K	$134K	10x	as long as short
Pacifica LDO	+0.0100%	1h	0.4291	−0.002%	$110K	$131K	10x	as long as short
Binance LDOUSDT	+0.0100%	8h	0.4290	−0.016%	$18.0M	$32.0M	75x	as long as short
Bybit LDOUSDT	+0.0100%	8h	0.4287	−0.091%	$16.1M	$10.5M	50x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX LDO-USDT-SWAP	+0.0100%	8h	0.4287	−0.091%	$4.0M	$7.2M	50x	as long as short
Gate LDO_USDT	+0.0100%	8h	0.4289	−0.044%	$1.5M	$1.0M	50x	as long as short
MEXC LDO_USDT	+0.0100%	8h	0.4290	−0.021%	$7.8M	$6.9M	200x	as long as short
KuCoin LDOUSDTM	+0.0100%	8h	0.4289	−0.044%	$2.7M	$4.0M	50x	as long as short
Bitget LDOUSDT	+0.0100%	8h	0.4288	−0.068%	$3.3M	$3.2M	75x	as long as short
BingX LDO-USDT	+0.0100%	8h	0.4288	−0.068%	—	$10.0M	—	as long as short
Backpack LDO_USDC_PERP	+0.0100%	1h	0.4290	−0.009%	$90K	$142K	10x	as long as short
Variational Omni LDO	+0.0100%	8h	0.4268	−0.539%	$200K	$68K	—	as long as short
GRVT LDO_USDT_Perp	+0.0100%	8h	0.4268	−0.531%	$303K	$3.3M	10x	as long as short
ApeX Omni LDOUSDT	+0.0100%	1h	0.4280	−0.254%	$33K	$639K	50x	as long as short
Polymarket Perps LDO-USDlong	+0.0100%	1h	0.4291	long leg	$23K	$686K	5x
SunX LDO-USDT	+0.0100%	8h	0.4391	+2.333%	$2K	$1.2M	20x	as long as short
BloFin LDO-USDT	+0.0103%	8h	0.4290	−0.021%	$919K	$256K	75x	as long as short
Extended LDO-USD	+0.0104%	1h	0.4285	−0.129%	$258K	$1.3M	25x	as long as short
Aevo LDO-PERP	+0.0104%	1h	0.4289	−0.037%	$38K	—	3x	as long as short
GMX LDO/USD [ETH-USDC]	L +0.0319% / S −0.0201%	1h	0.4289	−0.036%	$23K	—	100x	as long as short
Reya LDORUSDPERP	+0.0339%	1h	0.4286	−0.107%	$299K	—	15x	as long as short
Lighter LDO	+0.0408%	1h	0.4300	+0.205%	$873K	$265K	10x	as long as short
Kraken Futures PF_LDOUSD	+0.0575%	1h	0.4293	+0.057%	$1.2M	$711K	50x	as long as short