Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.006%
Price spread now: Backpack against Binance−0.209%7-day average −0.013% · you buy dearer than you sell
Net, funding: paid 7d − costs−$57as in the Funding arb table
Net, price: spread back to 7d avg − costs−$65as in the Price arb table
costs, in and out, $10k−$450.453% of the position
Funding, last 7 days−0.120%−$12 on $10k
+Price spread, last 4 days (all we have)+0.087%+$9 · spread now −0.209%, 7d avg −0.013%
=Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Backpack is 0.196% cheaper against Binance than usual: you would sell low and buy high, −$20 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 | Binance LDOUSDT | 0.4318 | 0.0100 | pay 0.0100% / 8h | 7h 57m | $18.1M | $38.1M | 75x |
| Short | Backpack LDO_USDC_PERP | 0.4309 | 0.0100 | get 0.0013% / 1h | 57m 27s | $86K | $179K | 10x |
Binance LDOUSDT
Backpack LDO_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Binance. 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: −0.209% → −0.013%
- −$19.55
- Slippage, 4 orders
- −$25.34
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$64.89
- Costs to cover
- 0.453%
- Break-even
- never at this rate
Slippage from Binance: live order book, 14 min ago; Backpack: live order book, 16 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 Binance live order book, 14 min ago | 1.17 bp | 10.2 bp −$10 | 24.4 bp −$244 | 188.0 bp −$18.8K | doesn't fit |
| Sell Backpack live order book, 16 min ago | 0.58 bp | 10.0 bp −$10 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit LDO_USDC-PERPETUAL | −0.1143% | 1h | 0.4302 | −0.375% | $3K | $10K | 25x | as long as short |
| Coinbase International LDO-PERP-INTX | −0.0752% | 1h | 0.4287 | −0.723% | $117K | $52K | 50x | as long as short |
| dYdX LDO-USD | 0.0000% | 1h | 0.4313 | −0.112% | $83K | $17K | 5x | as long as short |
| Injective LDO/USDC PERP | +0.0033% | 1h | 0.4110 | −4.822% | $4K | $14 | 12x | as long as short |
| BloFin LDO-USDT | +0.0099% | 8h | 0.4309 | −0.213% | $790K | $222K | 75x | as long as short |
| Paradex LDO-USD-PERP | +0.0100% | 8h | 0.4312 | −0.135% | $3K | $56 | 20x | as long as short |
| Hyperliquid LDO | +0.0100% | 1h | 0.4317 | −0.021% | $12.1M | $4.0M | 5x | as long as short |
| Aster LDOUSDT | +0.0100% | 8h | 0.4318 | +0.005% | $170K | $149K | 10x | as long as short |
| Pacifica LDO | +0.0100% | 1h | 0.4313 | −0.117% | $111K | $178K | 10x | as long as short |
| Binance LDOUSDTlong | +0.0100% | 8h | 0.4318 | long leg | $18.1M | $38.1M | 75x |
Deribit LDO_USDC-PERPETUAL
Coinbase International LDO-PERP-INTX
dYdX LDO-USD
Injective LDO/USDC PERP
BloFin LDO-USDT
Paradex LDO-USD-PERP
Hyperliquid LDO
Aster LDOUSDT
Pacifica LDOShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit LDOUSDT | +0.0100% | 8h | 0.4314 | −0.098% | $16.4M | $12.5M | 50x | as long as short |
| OKX LDO-USDT-SWAP | +0.0100% | 8h | 0.4311 | −0.167% | $4.1M | $9.2M | 50x | as long as short |
| Gate LDO_USDT | +0.0100% | 8h | 0.4314 | −0.098% | $1.4M | $1.0M | 50x | as long as short |
| MEXC LDO_USDT | +0.0100% | 8h | 0.4316 | −0.051% | $8.0M | $7.5M | 200x | as long as short |
| KuCoin LDOUSDTM | +0.0100% | 8h | 0.4315 | −0.074% | $2.8M | $4.2M | 50x | as long as short |
| Bitget LDOUSDT | +0.0100% | 8h | 0.4314 | −0.098% | $3.4M | $3.7M | 75x | as long as short |
| BingX LDO-USDT | +0.0100% | 8h | 0.4314 | −0.098% | — | $3.7M | — | as long as short |
| Backpack LDO_USDC_PERPshort | +0.0100% | 1h | 0.4309 | −0.209% | $86K | $179K | 10x | |
| Variational Omni LDO | +0.0100% | 8h | 0.4304 | −0.331% | $201K | $82K | — | as long as short |
| GRVT LDO_USDT_Perp | +0.0100% | 8h | 0.4312 | −0.140% | $304K | $3.5M | 10x | as long as short |
| ApeX Omni LDOUSDT | +0.0100% | 1h | 0.4310 | −0.190% | $35K | $647K | 50x | as long as short |
| Polymarket Perps LDO-USD | +0.0100% | 1h | 0.4316 | −0.049% | $23K | $736K | 5x | as long as short |
| SunX LDO-USDT | +0.0100% | 8h | 0.4410 | +2.126% | $2K | $1.5M | 20x | as long as short |
| Extended LDO-USD | +0.0104% | 1h | 0.4312 | −0.145% | $259K | $1.0M | 25x | as long as short |
| Aevo LDO-PERP | +0.0104% | 1h | 0.4315 | −0.076% | $38K | — | 3x | as long as short |
| Kraken Futures PF_LDOUSD | +0.0197% | 1h | 0.4312 | −0.149% | $1.1M | $527K | 50x | as long as short |
| GMX LDO/USD [ETH-USDC] | L +0.0319% / S −0.0201% | 1h | 0.4316 | −0.041% | $24K | — | 100x | as long as short |
| Reya LDORUSDPERP | +0.0336% | 1h | 0.4311 | −0.162% | $301K | — | 15x | as long as short |
| Lighter LDO | +0.0464% | 1h | 0.4322 | +0.085% | $877K | $267K | 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
Kraken Futures PF_LDOUSD
GMX LDO/USD [ETH-USDC]
Reya LDORUSDPERP
Lighter LDO