Funding you earn now, next payment 04:00 UTC−0.0452%/8h= −49.5% APRnext payment −$0.56 per $10,000 · paid last 24h −0.295%
Price spread now: Coinbase International against Backpack−0.444%7-day average −0.078% · you buy dearer than you sell
Net, funding: paid 7d − costs−$132as in the Funding arb table
Net, price: spread back to 7d avg − costs−$114as in the Price arb table
costs, in and out, $10k−$780.776% of the position
Funding, last 7 days−0.547%−$55 on $10k
+Price spread, last 4 days (all we have)+0.629%+$63 · spread now −0.444%, 7d avg −0.078%
=Both sides work against this trade now: funding costs −$14 a day on $10k at the current rate, and Coinbase International is 0.366% cheaper against Backpack than usual: you would sell low and buy high (−$37 if the spread goes back to its 7-day average of −0.078%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack LDO_USDC_PERP | 0.4216 | 0.0100 | pay 0.0013% / 1h | 1m 48s | $90K | $179K | 10x |
| Short | Coinbase International LDO-PERP-INTX | 0.4197 | −0.0352 | pay 0.0044% / 1h | 1m 48s | $117K | $40K | 50x |
Backpack LDO_USDC_PERP
Coinbase International LDO-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International 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
- −$94.92
- Price spread: −0.444% → −0.078%
- −$36.6
- Slippage, 4 orders
- −$57.55
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$209.07
- Costs to cover
- 0.776%
- Break-even
- never at this rate
Slippage from Backpack: live order book, 51 min ago; Coinbase International: live order book, 51 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, 51 min ago | 4.78 bp | 15.3 bp −$15 | doesn't fit | doesn't fit | doesn't fit |
| Sell Coinbase International live order book, 51 min ago | 16.32 bp | 21.3 bp −$21 | 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 | −0.0352% | 1h | 0.4197 | −0.444% | $117K | $40K | 50x | |
| dYdX LDO-USD | 0.0000% | 1h | 0.4218 | +0.058% | $81K | $5K | 5x | as long as short |
| Deribit LDO_USDC-PERPETUAL | 0.0000% | 1h | 0.4217 | +0.031% | $7K | $20K | 25x | as long as short |
| Injective LDO/USDC PERP | +0.0033% | 1h | 0.4110 | −2.507% | $4K | $13 | 12x | as long as short |
| BloFin LDO-USDT | +0.0089% | 8h | 0.4225 | +0.221% | $898K | $254K | 75x | as long as short |
| Paradex LDO-USD-PERP | +0.0100% | 8h | 0.4217 | +0.034% | $3K | — | 20x | as long as short |
| Hyperliquid LDO | +0.0100% | 1h | 0.4219 | +0.069% | $11.5M | $3.1M | 5x | as long as short |
| Aster LDOUSDT | +0.0100% | 8h | 0.4222 | +0.140% | $166K | $93K | 10x | as long as short |
| Pacifica LDO | +0.0100% | 1h | 0.4219 | +0.081% | $108K | $27K | 10x | as long as short |
| Binance LDOUSDT | +0.0100% | 8h | 0.4221 | +0.115% | $17.7M | $30.8M | 75x | as long as short |
dYdX LDO-USD
Deribit LDO_USDC-PERPETUAL
Injective LDO/USDC PERP
BloFin LDO-USDT
Paradex LDO-USD-PERP
Hyperliquid LDO
Aster LDOUSDT
Pacifica LDO
Binance LDOUSDTShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit LDOUSDT | +0.0100% | 8h | 0.4219 | +0.078% | $15.9M | $10.0M | 50x | as long as short |
| OKX LDO-USDT-SWAP | +0.0100% | 8h | 0.4220 | +0.102% | $4.0M | $6.6M | 50x | as long as short |
| Gate LDO_USDT | +0.0100% | 8h | 0.4218 | +0.055% | $1.4M | $1.1M | 50x | as long as short |
| MEXC LDO_USDT | +0.0100% | 8h | 0.4221 | +0.126% | $7.4M | $6.3M | 200x | as long as short |
| KuCoin LDOUSDTM | +0.0100% | 8h | 0.4219 | +0.078% | $2.7M | $3.6M | 50x | as long as short |
| Bitget LDOUSDT | +0.0100% | 8h | 0.4214 | −0.040% | $3.2M | $3.2M | 75x | as long as short |
| BingX LDO-USDT | +0.0100% | 8h | 0.4217 | +0.031% | — | $10.0M | — | as long as short |
| Backpack LDO_USDC_PERPlong | +0.0100% | 1h | 0.4216 | long leg | $90K | $179K | 10x | |
| Variational Omni LDO | +0.0100% | 8h | 0.4232 | +0.381% | $199K | $60K | — | as long as short |
| GRVT LDO_USDT_Perp | +0.0100% | 8h | 0.4232 | +0.387% | $301K | $3.4M | 10x | as long as short |
| ApeX Omni LDOUSDT | +0.0100% | 1h | 0.4230 | +0.339% | $32K | $638K | 50x | as long as short |
| Polymarket Perps LDO-USD | +0.0100% | 1h | 0.4219 | +0.074% | $49K | $325K | 5x | as long as short |
| SunX LDO-USDT | +0.0100% | 8h | 0.4314 | +2.332% | $1K | $1.2M | 20x | as long as short |
| Extended LDO-USD | +0.0104% | 1h | 0.4212 | −0.096% | $254K | $1.2M | 25x | as long as short |
| Aevo LDO-PERP | +0.0104% | 1h | 0.4217 | +0.031% | $37K | — | 3x | as long as short |
| GMX LDO/USD [ETH-USDC] | L +0.0318% / S −0.0201% | 1h | 0.4216 | −0.004% | $23K | — | 100x | as long as short |
| Reya LDORUSDPERP | +0.0342% | 1h | 0.4215 | −0.026% | $294K | — | 15x | as long as short |
| Kraken Futures PF_LDOUSD | +0.0399% | 1h | 0.4220 | +0.113% | $1.1M | $660K | 50x | as long as short |
| Lighter LDO | +0.0432% | 1h | 0.4228 | +0.282% | $851K | $271K | 10x | as long as short |
Bybit LDOUSDT
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
GMX LDO/USD [ETH-USDC]
Reya LDORUSDPERP
Kraken Futures PF_LDOUSD
Lighter LDO