Funding you earn now, next payment 04:00 UTC−0.0241%/8h= −26.4% APRnext payment −$0.30 per $10,000 · paid last 24h −0.073%
Price spread now: Backpack against Reya+0.120%7-day average +0.064% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)−0.217%−$22 on $10k
+Price spread, last 4 days (all we have)−0.207%−$21 · spread now +0.120%, 7d avg +0.064%
=Together, before fees−0.424%+ Points / potential airdropReya: Active · farm board−$42 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Backpack is 0.056% dearer against Reya than usual: you sell high and buy low (spread +0.120% now, against its 7-day average of +0.064%): +$6 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 19 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Reya LDORUSDPERP | 0.4266 | 0.0341 | pay 0.0043% / 1h | 3m 43s | $297K | — | 15x |
| Short | Backpack LDO_USDC_PERP | 0.4271 | 0.0100 | get 0.0013% / 1h | 3m 43s | $91K | $176K | 10x |
Reya LDORUSDPERP
Backpack LDO_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Reya. 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
- −$50.56
- Price spread: +0.120% → +0.064%
- $5.58
- Slippage, 4 orders
- no order book: not counted
- Fee Reya: 3 bp × 2 orders
- −$6
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$60.98
- Costs to cover
- 0.160%
- Break-even
- never at this rate
Slippage unknown: Reya: no order-book sample; Backpack: live order book, 54 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 Reya no order-book sample | — | — | — | — | — |
| Sell Backpack live order book, 54 min ago | 2.58 bp | 13.5 bp −$14 | doesn't fit | doesn't fit | doesn't fit |
Reya: 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 | −0.0416% | 1h | 0.4263 | −0.061% | $119K | $41K | 50x | as long as short |
| dYdX LDO-USD | 0.0000% | 1h | 0.4270 | +0.103% | $82K | $5K | 5x | as long as short |
| Injective LDO/USDC PERP | +0.0033% | 1h | 0.4110 | −3.648% | $4K | $13 | 12x | as long as short |
| BloFin LDO-USDT | +0.0095% | 8h | 0.4265 | −0.014% | $907K | $252K | 75x | as long as short |
| Paradex LDO-USD-PERP | +0.0100% | 8h | 0.4261 | −0.119% | $3K | — | 20x | as long as short |
| Hyperliquid LDO | +0.0100% | 1h | 0.4275 | +0.218% | $11.7M | $3.2M | 5x | as long as short |
| Aster LDOUSDT | +0.0100% | 8h | 0.4272 | +0.157% | $168K | $120K | 10x | as long as short |
| Pacifica LDO | +0.0100% | 1h | 0.4264 | −0.029% | $109K | $26K | 10x | as long as short |
| Binance LDOUSDT | +0.0100% | 8h | 0.4274 | +0.197% | $18.0M | $31.0M | 75x | as long as short |
| Bybit LDOUSDT | +0.0100% | 8h | 0.4269 | +0.080% | $16.1M | $9.9M | 50x | as long as short |
Coinbase International LDO-PERP-INTX
dYdX LDO-USD
Injective LDO/USDC PERP
BloFin LDO-USDT
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 | 0.4271 | +0.127% | $4.0M | $6.8M | 50x | as long as short |
| Gate LDO_USDT | +0.0100% | 8h | 0.4269 | +0.080% | $1.5M | $1.1M | 50x | as long as short |
| MEXC LDO_USDT | +0.0100% | 8h | 0.4272 | +0.150% | $7.7M | $6.5M | 200x | as long as short |
| KuCoin LDOUSDTM | +0.0100% | 8h | 0.4271 | +0.127% | $2.7M | $3.7M | 50x | as long as short |
| Bitget LDOUSDT | +0.0100% | 8h | 0.4270 | +0.103% | $3.3M | $3.1M | 75x | as long as short |
| BingX LDO-USDT | +0.0100% | 8h | 0.4270 | +0.103% | — | $10.0M | — | as long as short |
| Backpack LDO_USDC_PERPshort | +0.0100% | 1h | 0.4271 | +0.120% | $91K | $176K | 10x | |
| Variational Omni LDO | +0.0100% | 8h | 0.4265 | −0.020% | $200K | $60K | — | as long as short |
| GRVT LDO_USDT_Perp | +0.0100% | 8h | 0.4272 | +0.156% | $306K | $3.4M | 10x | as long as short |
| ApeX Omni LDOUSDT | +0.0100% | 1h | 0.4270 | +0.103% | $33K | $639K | 50x | as long as short |
| Polymarket Perps LDO-USD | +0.0100% | 1h | 0.4267 | +0.026% | $23K | $516K | 5x | as long as short |
| SunX LDO-USDT | +0.0100% | 8h | 0.4367 | +2.377% | $2K | $1.2M | 20x | as long as short |
| Extended LDO-USD | +0.0104% | 1h | 0.4268 | +0.063% | $260K | $1.3M | 25x | as long as short |
| Aevo LDO-PERP | +0.0104% | 1h | 0.4270 | +0.098% | $38K | — | 3x | as long as short |
| Deribit LDO_USDC-PERPETUAL | +0.0219% | 1h | 0.4269 | +0.080% | $7K | $20K | 25x | as long as short |
| Lighter LDO | +0.0296% | 1h | 0.4282 | +0.384% | $873K | $267K | 10x | as long as short |
| GMX LDO/USD [ETH-USDC] | L +0.0319% / S −0.0201% | 1h | 0.4267 | +0.039% | $23K | — | 100x | as long as short |
| Reya LDORUSDPERPlong | +0.0341% | 1h | 0.4266 | long leg | $297K | — | 15x | |
| Kraken Futures PF_LDOUSD | +0.0494% | 1h | 0.4274 | +0.196% | $1.1M | $680K | 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
Deribit LDO_USDC-PERPETUAL
Lighter LDO
GMX LDO/USD [ETH-USDC]
Kraken Futures PF_LDOUSD