Funding arb · Price arb /

LDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0119%/8h= +13.0% APRpaid last 24h −0.048%

Price spread now: Deribit against SunX−2.244%7-day average — · you buy dearer than you sell

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

Long on SunX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Deribit is 2.244% cheaper against SunX than usual: you would sell low and buy high (spread −2.244% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$224 on $10k: about 2 months of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX LDO-USDT	0.4367	0.0100	pay 0.0100% / 8h	4h 03m	$2K	$1.2M	20x
Short	Deribit LDO_USDC-PERPETUAL	0.4269	0.0219	get 0.0027% / 1h	3m 29s	$7K	$20K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against SunX. 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 SunXbpFee DeribitbpOrdersPrice spread, now −2.244%Rate

Funding earned: $24.93
Price spread: −2.244% → 0.000%: −$224.41
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$214.48
Costs to cover: 0.150%
Break-even: 67.2 days

Slippage unknown: SunX: live order book, 10 min ago; Deribit: no order-book sample. 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, 10 min ago	244.01 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: 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	−2.381%	$119K	$41K	50x	as long as short
dYdX LDO-USD	0.0000%	1h	0.4270	−2.221%	$82K	$5K	5x	as long as short
Injective LDO/USDC PERP	+0.0033%	1h	0.4110	−5.885%	$4K	$13	12x	as long as short
BloFin LDO-USDT	+0.0095%	8h	0.4265	−2.336%	$907K	$252K	75x	as long as short
Paradex LDO-USD-PERP	+0.0100%	8h	0.4270	−2.214%	$3K	—	20x	as long as short
Hyperliquid LDO	+0.0100%	1h	0.4281	−1.976%	$11.7M	$3.2M	5x	as long as short
Aster LDOUSDT	+0.0100%	8h	0.4275	−2.117%	$168K	$120K	10x	as long as short
Pacifica LDO	+0.0100%	1h	0.4273	−2.158%	$110K	$26K	10x	as long as short
Binance LDOUSDT	+0.0100%	8h	0.4278	−2.038%	$18.0M	$31.0M	75x	as long as short
Bybit LDOUSDT	+0.0100%	8h	0.4276	−2.084%	$16.1M	$10.0M	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	0.4275	−2.107%	$4.0M	$6.9M	50x	as long as short
Gate LDO_USDT	+0.0100%	8h	0.4275	−2.107%	$1.5M	$1.1M	50x	as long as short
MEXC LDO_USDT	+0.0100%	8h	0.4277	−2.061%	$7.7M	$6.5M	200x	as long as short
KuCoin LDOUSDTM	+0.0100%	8h	0.4279	−2.015%	$2.7M	$3.7M	50x	as long as short
Bitget LDOUSDT	+0.0100%	8h	0.4279	−2.015%	$3.3M	$3.1M	75x	as long as short
BingX LDO-USDT	+0.0100%	8h	0.4274	−2.130%	—	$10.0M	—	as long as short
Backpack LDO_USDC_PERP	+0.0100%	1h	0.4271	−2.205%	$91K	$176K	10x	as long as short
Variational Omni LDO	+0.0100%	8h	0.4265	−2.341%	$200K	$60K	—	as long as short
GRVT LDO_USDT_Perp	+0.0100%	8h	0.4272	−2.170%	$306K	$3.4M	10x	as long as short
ApeX Omni LDOUSDT	+0.0100%	1h	0.4270	−2.221%	$33K	$639K	50x	as long as short
Polymarket Perps LDO-USD	+0.0100%	1h	0.4278	−2.047%	$23K	$516K	5x	as long as short
SunX LDO-USDTlong	+0.0100%	8h	0.4367	long leg	$2K	$1.2M	20x
Extended LDO-USD	+0.0104%	1h	0.4272	−2.180%	$260K	$1.3M	25x	as long as short
Aevo LDO-PERP	+0.0104%	1h	0.4270	−2.226%	$38K	—	3x	as long as short
Deribit LDO_USDC-PERPETUALshort	+0.0219%	1h	0.4269	−2.244%	$7K	$20K	25x
Lighter LDO	+0.0296%	1h	0.4282	−1.946%	$873K	$267K	10x	as long as short
GMX LDO/USD [ETH-USDC]	L +0.0319% / S −0.0201%	1h	0.4276	−2.095%	$23K	—	100x	as long as short
Reya LDORUSDPERP	+0.0341%	1h	0.4275	−2.099%	$298K	—	15x	as long as short
Kraken Futures PF_LDOUSD	+0.0494%	1h	0.4274	−2.131%	$1.1M	$680K	50x	as long as short