Funding you earn now, next payment 03:00 UTC−0.0015%/8h= −1.6% APRpaid last 24h +0.005%
Price spread now: BloFin against Backpack−0.032%7-day average +0.020% · you buy dearer than you sell
Net, funding: paid 7d − costs−$43as in the Funding arb table
Net, price: spread back to 7d avg − costs−$62as in the Price arb table
costs, in and out, $10k−$570.565% of the position
Funding, last 7 days+0.139%+$14 on $10k
+Price spread, last 4 days (all we have)−0.081%−$8 · spread now −0.032%, 7d avg +0.020%
=Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and BloFin is 0.052% cheaper against Backpack than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.020%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.139%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack LDO_USDC_PERP | 0.4312 | 0.0100 | pay 0.0013% / 1h | 10m 58s | $94K | $175K | 10x |
| Short | BloFin LDO-USDT | 0.4311 | 0.0085 | get 0.0085% / 8h | 5h 10m | $923K | $255K | 75x |
Backpack LDO_USDC_PERP
BloFin LDO-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BloFin against Backpack. 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
- −$3.05
- Price spread: −0.032% → +0.020%
- −$5.24
- Slippage, 4 orders
- −$34.51
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee BloFin: 6 bp × 2 orders
- −$12
- Net
- −$64.8
- Costs to cover
- 0.565%
- Break-even
- never at this rate
Slippage from Backpack: live order book, 52 min ago; BloFin: live order book, 28 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 Backpack live order book, 52 min ago | 0.47 bp | 12.4 bp −$12 | doesn't fit | doesn't fit | doesn't fit |
| Sell BloFin live order book, 28 min ago | 1.17 bp | 15.1 bp −$15 | 21.3 bp −$213 | 65.1 bp −$6,507 | 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-INTX | −0.0512% | 1h | 0.4304 | −0.195% | $120K | $41K | 50x | as long as short |
| dYdX LDO-USD | 0.0000% | 1h | 0.4304 | −0.192% | $83K | $5K | 5x | as long as short |
| Injective LDO/USDC PERP | +0.0033% | 1h | 0.4110 | −4.693% | $4K | $13 | 12x | as long as short |
| BloFin LDO-USDTshort | +0.0085% | 8h | 0.4311 | −0.032% | $923K | $255K | 75x | |
| Paradex LDO-USD-PERP | +0.0100% | 8h | 0.4299 | −0.308% | $3K | — | 20x | as long as short |
| Hyperliquid LDO | +0.0100% | 1h | 0.4314 | +0.039% | $11.8M | $3.3M | 5x | as long as short |
| Aster LDOUSDT | +0.0100% | 8h | 0.4310 | −0.066% | $170K | $116K | 10x | as long as short |
| Pacifica LDO | +0.0100% | 1h | 0.4306 | −0.144% | $111K | $86K | 10x | as long as short |
| Binance LDOUSDT | +0.0100% | 8h | 0.4312 | −0.009% | $18.1M | $31.2M | 75x | as long as short |
| Bybit LDOUSDT | +0.0100% | 8h | 0.4308 | −0.102% | $16.2M | $10.0M | 50x | as long as short |
Coinbase International LDO-PERP-INTX
dYdX LDO-USD
Injective LDO/USDC PERP
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 | 0.4308 | −0.102% | $4.0M | $7.0M | 50x | as long as short |
| Gate LDO_USDT | +0.0100% | 8h | 0.4304 | −0.195% | $1.5M | $1.0M | 50x | as long as short |
| MEXC LDO_USDT | +0.0100% | 8h | 0.4312 | −0.009% | $7.8M | $7.0M | 200x | as long as short |
| KuCoin LDOUSDTM | +0.0100% | 8h | 0.4309 | −0.079% | $2.8M | $3.9M | 50x | as long as short |
| Bitget LDOUSDT | +0.0100% | 8h | 0.4310 | −0.056% | $3.3M | $3.2M | 75x | as long as short |
| BingX LDO-USDT | +0.0100% | 8h | 0.4308 | −0.102% | — | $10.0M | — | as long as short |
| Backpack LDO_USDC_PERPlong | +0.0100% | 1h | 0.4312 | long leg | $94K | $175K | 10x | |
| Variational Omni LDO | +0.0100% | 8h | 0.4301 | −0.272% | $202K | $62K | — | as long as short |
| GRVT LDO_USDT_Perp | +0.0100% | 8h | 0.4303 | −0.218% | $305K | $3.3M | 10x | as long as short |
| ApeX Omni LDOUSDT | +0.0100% | 1h | 0.4310 | −0.056% | $33K | $639K | 50x | as long as short |
| Polymarket Perps LDO-USD | +0.0100% | 1h | 0.4308 | −0.093% | $23K | $530K | 5x | as long as short |
| SunX LDO-USDT | +0.0100% | 8h | 0.4409 | +2.240% | $2K | $1.2M | 20x | as long as short |
| Extended LDO-USD | +0.0104% | 1h | 0.4308 | −0.110% | $258K | $1.3M | 25x | as long as short |
| Aevo LDO-PERP | +0.0104% | 1h | 0.4313 | +0.002% | $38K | — | 3x | as long as short |
| Deribit LDO_USDC-PERPETUAL | +0.0214% | 1h | 0.4313 | +0.014% | $7K | $20K | 25x | as long as short |
| GMX LDO/USD [ETH-USDC] | L +0.0320% / S −0.0201% | 1h | 0.4307 | −0.115% | $23K | — | 100x | as long as short |
| Reya LDORUSDPERP | +0.0339% | 1h | 0.4304 | −0.188% | $300K | — | 15x | as long as short |
| Lighter LDO | +0.0416% | 1h | 0.4321 | +0.204% | $877K | $265K | 10x | as long as short |
| Kraken Futures PF_LDOUSD | +0.0573% | 1h | 0.4315 | +0.050% | $1.2M | $685K | 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
GMX LDO/USD [ETH-USDC]
Reya LDORUSDPERP
Lighter LDO
Kraken Futures PF_LDOUSD