Funding arb · Price arb /

LDO

all LDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.1116%/8h= −122.2% APRpaid last 24h −0.348%

Price spread now: Coinbase International against SunX−2.252%7-day average −2.390% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on SunX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.719%−$72 on $10k

Price spread, last 3 days (all we have)+0.211%+$21 · spread now −2.252%, 7d avg −2.390%

Together, before fees−0.508%−$51 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Coinbase International is 0.137% dearer against SunX than usual: you sell high and buy low (spread −2.252% now, against its 7-day average of −2.390%): +$14 on $10k if it goes back. Holding the pair costs −$33 a day in funding at the current rate, which eats that in about 10 hours. At the pace of the last 7 days (−0.719% in total) that is about 32 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.719% in total (about -37.5% 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	SunX LDO-USDT	0.4440	0.0100	pay 0.0100% / 8h	29m 28s	$1K	$1.5M	20x
Short	Coinbase International LDO-PERP-INTX	0.4340	−0.1016	pay 0.0127% / 1h	29m 28s	$118K	$53K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against SunX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 SunXbpFee Coinbase InternationalbpOrdersPrice spread, now −2.252%Rate

Funding earned: −$234.36
Price spread: −2.252% → −2.390%: $13.73
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$238.63
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 5 min ago; Coinbase International: live order book, 48 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 SunX live order book, 5 min ago	253.82 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International live order book, 48 min ago	39.29 bp	doesn't fit	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	−0.5000%	1h	0.4110	−7.432%	$4K	$14	12x	as long as short
Coinbase International LDO-PERP-INTXshort	−0.1016%	1h	0.4340	−2.252%	$118K	$53K	50x
dYdX LDO-USD	0.0000%	1h	0.4340	−2.252%	$84K	$17K	5x	as long as short
Deribit LDO_USDC-PERPETUAL	0.0000%	1h	0.4340	−2.252%	$3K	$10K	25x	as long as short
Kraken Futures PF_LDOUSD	+0.0026%	1h	0.4342	−2.203%	$1.1M	$525K	50x	as long as short
Paradex LDO-USD-PERP	+0.0100%	8h	0.4336	−2.335%	$3K	$56	20x	as long as short
Hyperliquid LDO	+0.0100%	1h	0.4343	−2.185%	$12.1M	$4.0M	5x	as long as short
Aster LDOUSDT	+0.0100%	8h	0.4341	−2.225%	$171K	$149K	10x	as long as short
Pacifica LDO	+0.0100%	1h	0.4338	−2.305%	$111K	$178K	10x	as long as short
Binance LDOUSDT	+0.0100%	8h	0.4339	−2.275%	$18.1M	$37.6M	75x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit LDOUSDT	+0.0100%	8h	0.4334	−2.387%	$16.4M	$12.5M	50x	as long as short
OKX LDO-USDT-SWAP	+0.0100%	8h	0.4333	−2.410%	$4.1M	$9.1M	50x	as long as short
Gate LDO_USDT	+0.0100%	8h	0.4337	−2.320%	$1.4M	$1.1M	50x	as long as short
MEXC LDO_USDT	+0.0100%	8h	0.4338	−2.297%	$8.4M	$7.5M	200x	as long as short
KuCoin LDOUSDTM	+0.0100%	8h	0.4339	−2.275%	$2.8M	$4.2M	50x	as long as short
Bitget LDOUSDT	+0.0100%	8h	0.4336	−2.342%	$3.4M	$3.6M	75x	as long as short
BingX LDO-USDT	+0.0100%	8h	0.4337	−2.320%	—	$3.7M	—	as long as short
Backpack LDO_USDC_PERP	+0.0100%	1h	0.4339	−2.268%	$88K	$178K	10x	as long as short
Variational Omni LDO	+0.0100%	8h	0.4337	−2.320%	$203K	$82K	—	as long as short
GRVT LDO_USDT_Perp	+0.0100%	8h	0.4341	−2.230%	$308K	$3.4M	10x	as long as short
ApeX Omni LDOUSDT	+0.0100%	1h	0.4350	−2.027%	$35K	$649K	50x	as long as short
Polymarket Perps LDO-USD	+0.0100%	1h	0.4339	−2.279%	$23K	$736K	5x	as long as short
SunX LDO-USDTlong	+0.0100%	8h	0.4440	long leg	$1K	$1.5M	20x
Extended LDO-USD	+0.0104%	1h	0.4334	−2.377%	$261K	$1.0M	25x	as long as short
Aevo LDO-PERP	+0.0104%	1h	0.4340	−2.241%	$38K	—	3x	as long as short
BloFin LDO-USDT	+0.0122%	8h	0.4341	−2.230%	$791K	$220K	75x	as long as short
Lighter LDO	+0.0224%	1h	0.4347	−2.090%	$882K	$268K	10x	as long as short
GMX LDO/USD [ETH-USDC]	L +0.0320% / S −0.0201%	1h	0.4340	−2.245%	$24K	—	100x	as long as short
Reya LDORUSDPERP	+0.0335%	1h	0.4335	−2.364%	$302K	—	15x	as long as short