Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.005%
Price spread now: Polymarket Perps against Backpack+0.035%7-day average +0.013% · you sell dearer than you buy
Net, funding: paid 7d − costs−$63as in the Funding arb table
Net, price: spread back to 7d avg − costs−$47as in the Price arb table
costs, in and out, $10k−$500.495% of the position
Funding, last 7 days−0.133%−$13 on $10k
+Price spread, last 4 days (all we have)+0.028%+$3 · spread now +0.035%, 7d avg +0.013%
=Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Polymarket Perps is 0.022% dearer against Backpack than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of +0.013%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack LDO_USDC_PERP | 0.4292 | 0.0100 | pay 0.0013% / 1h | 51m 48s | $91K | $176K | 10x |
| Short | Polymarket Perps LDO-USD | 0.4294 | 0.0100 | get 0.0013% / 1h | 51m 48s | $21K | $509K | 5x |
Backpack LDO_USDC_PERP
Polymarket Perps LDO-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Polymarket Perps 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
- $0
- Price spread: +0.035% → +0.013%
- $2.2
- Slippage, 4 orders
- −$31.53
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Polymarket Perps: 4 bp × 2 orders
- −$8
- Net
- −$47.32
- Costs to cover
- 0.495%
- Break-even
- never at this rate
Slippage from Backpack: live order book, 1 min ago; Polymarket Perps: live order book, 66 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, 1 min ago | 4.78 bp | 15.3 bp −$15 | doesn't fit | doesn't fit | doesn't fit |
| Sell Polymarket Perps live order book, 66 min ago | 2.69 bp | 9.9 bp −$10 | 10.2 bp −$102 | 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-INTX | −0.0352% | 1h | 0.4268 | −0.568% | $119K | $41K | 50x | as long as short |
| dYdX LDO-USD | 0.0000% | 1h | 0.4290 | −0.056% | $83K | $5K | 5x | as long as short |
| Deribit LDO_USDC-PERPETUAL | 0.0000% | 1h | 0.4289 | −0.079% | $7K | $20K | 25x | as long as short |
| Injective LDO/USDC PERP | +0.0033% | 1h | 0.4110 | −4.249% | $4K | $13 | 12x | as long as short |
| Paradex LDO-USD-PERP | +0.0100% | 8h | 0.4290 | −0.047% | $3K | — | 20x | as long as short |
| Hyperliquid LDO | +0.0100% | 1h | 0.4296 | +0.091% | $11.7M | $3.1M | 5x | as long as short |
| Aster LDOUSDT | +0.0100% | 8h | 0.4293 | +0.014% | $169K | $120K | 10x | as long as short |
| Pacifica LDO | +0.0100% | 1h | 0.4292 | −0.015% | $110K | $26K | 10x | as long as short |
| Binance LDOUSDT | +0.0100% | 8h | 0.4292 | −0.009% | $18.0M | $30.6M | 75x | as long as short |
| Bybit LDOUSDT | +0.0100% | 8h | 0.4289 | −0.079% | $16.2M | $9.9M | 50x | as long as short |
Coinbase International LDO-PERP-INTX
dYdX LDO-USD
Deribit LDO_USDC-PERPETUAL
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 | 0.4289 | −0.079% | $4.0M | $6.8M | 50x | as long as short |
| Gate LDO_USDT | +0.0100% | 8h | 0.4291 | −0.033% | $1.5M | $1.0M | 50x | as long as short |
| MEXC LDO_USDT | +0.0100% | 8h | 0.4293 | +0.014% | $7.7M | $6.3M | 200x | as long as short |
| KuCoin LDOUSDTM | +0.0100% | 8h | 0.4292 | −0.009% | $2.8M | $3.6M | 50x | as long as short |
| Bitget LDOUSDT | +0.0100% | 8h | 0.4292 | −0.009% | $3.3M | $3.1M | 75x | as long as short |
| BingX LDO-USDT | +0.0100% | 8h | 0.4289 | −0.079% | — | $10.0M | — | as long as short |
| Backpack LDO_USDC_PERPlong | +0.0100% | 1h | 0.4292 | long leg | $91K | $176K | 10x | |
| Variational Omni LDO | +0.0100% | 8h | 0.4276 | −0.388% | $201K | $60K | — | as long as short |
| GRVT LDO_USDT_Perp | +0.0100% | 8h | 0.4283 | −0.224% | $307K | $3.4M | 10x | as long as short |
| ApeX Omni LDOUSDT | +0.0100% | 1h | 0.4290 | −0.056% | $33K | $640K | 50x | as long as short |
| Polymarket Perps LDO-USDshort | +0.0100% | 1h | 0.4294 | +0.035% | $21K | $509K | 5x | |
| SunX LDO-USDT | +0.0100% | 8h | 0.4392 | +2.320% | $1K | $1.2M | 20x | as long as short |
| Extended LDO-USD | +0.0104% | 1h | 0.4291 | −0.037% | $260K | $1.3M | 25x | as long as short |
| Aevo LDO-PERP | +0.0104% | 1h | 0.4291 | −0.021% | $38K | — | 3x | as long as short |
| BloFin LDO-USDT | +0.0118% | 8h | 0.4296 | +0.084% | $910K | $254K | 75x | as long as short |
| Lighter LDO | +0.0248% | 1h | 0.4301 | +0.196% | $877K | $246K | 10x | as long as short |
| GMX LDO/USD [ETH-USDC] | L +0.0320% / S −0.0201% | 1h | 0.4289 | −0.071% | $23K | — | 100x | as long as short |
| Reya LDORUSDPERP | +0.0341% | 1h | 0.4289 | −0.083% | $299K | — | 15x | as long as short |
| Kraken Futures PF_LDOUSD | +0.0392% | 1h | 0.4292 | −0.001% | $1.2M | $664K | 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
SunX LDO-USDT
Extended LDO-USD
Aevo LDO-PERP
BloFin LDO-USDT
Lighter LDO
GMX LDO/USD [ETH-USDC]
Reya LDORUSDPERP
Kraken Futures PF_LDOUSD