Funding arb · Price arb /

LDO

all LDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0101%/8h= +11.1% APRpaid last 24h +0.009%

Price spread now: GMX against Binance−0.054%7-day average — · you buy dearer than you sell

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

Long on Binance Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 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. GMX is 0.054% cheaper against Binance than usual: you would sell low and buy high (spread −0.054% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 43 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance LDOUSDT	0.4304	0.0100	pay 0.0100% / 8h	7h 29m	$18.1M	$38.0M	75x
Short	GMX LDO/USD [ETH-USDC]	0.4302	L +0.0319% / S −0.0201%	get 0.0025% / 1h	29m 16s	$23K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Binance. 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 BinancebpFee GMXbpOrdersPrice spread, now −0.054%Rate

Funding earned: $21.26
Price spread: −0.054% → 0.000%: −$5.45
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: −$6.19
Costs to cover: 0.220%
Break-even: 9.0 days

Slippage unknown: Binance: live order book, 13 min ago; GMX: 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 Binance live order book, 13 min ago	1.16 bp	11.1 bp −$11	20.9 bp −$209	195.3 bp −$19.5K	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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	−0.0752%	1h	0.4308	+0.092%	$117K	$53K	50x	as long as short
dYdX LDO-USD	0.0000%	1h	0.4303	−0.029%	$83K	$17K	5x	as long as short
Injective LDO/USDC PERP	+0.0033%	1h	0.4110	−4.509%	$4K	$14	12x	as long as short
Paradex LDO-USD-PERP	+0.0100%	8h	0.4301	−0.078%	$3K	$56	20x	as long as short
Hyperliquid LDO	+0.0100%	1h	0.4305	+0.031%	$12.0M	$4.1M	5x	as long as short
Aster LDOUSDT	+0.0100%	8h	0.4307	+0.066%	$169K	$149K	10x	as long as short
Pacifica LDO	+0.0100%	1h	0.4305	+0.013%	$111K	$178K	10x	as long as short
Binance LDOUSDTlong	+0.0100%	8h	0.4304	long leg	$18.1M	$38.0M	75x
Bybit LDOUSDT	+0.0100%	8h	0.4299	−0.117%	$16.3M	$12.4M	50x	as long as short
OKX LDO-USDT-SWAP	+0.0100%	8h	0.4300	−0.094%	$4.1M	$9.1M	50x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate LDO_USDT	+0.0100%	8h	0.4302	−0.048%	$1.4M	$1.0M	50x	as long as short
MEXC LDO_USDT	+0.0100%	8h	0.4302	−0.048%	$7.9M	$7.5M	200x	as long as short
KuCoin LDOUSDTM	+0.0100%	8h	0.4305	+0.022%	$2.8M	$4.2M	50x	as long as short
Bitget LDOUSDT	+0.0100%	8h	0.4301	−0.071%	$3.4M	$3.7M	75x	as long as short
BingX LDO-USDT	+0.0100%	8h	0.4302	−0.048%	—	$3.7M	—	as long as short
Backpack LDO_USDC_PERP	+0.0100%	1h	0.4304	−0.013%	$87K	$148K	10x	as long as short
Variational Omni LDO	+0.0100%	8h	0.4302	−0.052%	$201K	$81K	—	as long as short
GRVT LDO_USDT_Perp	+0.0100%	8h	0.4305	+0.017%	$306K	$3.5M	10x	as long as short
ApeX Omni LDOUSDT	+0.0100%	1h	0.4310	+0.138%	$35K	$644K	50x	as long as short
Polymarket Perps LDO-USD	+0.0100%	1h	0.4304	−0.004%	$23K	$736K	5x	as long as short
SunX LDO-USDT	+0.0100%	8h	0.4405	+2.345%	$1K	$1.5M	20x	as long as short
Extended LDO-USD	+0.0104%	1h	0.4300	−0.098%	$263K	$1.6M	25x	as long as short
Aevo LDO-PERP	+0.0104%	1h	0.4303	−0.015%	$38K	—	3x	as long as short
BloFin LDO-USDT	+0.0105%	8h	0.4307	+0.068%	$791K	$221K	75x	as long as short
Kraken Futures PF_LDOUSD	+0.0197%	1h	0.4306	+0.048%	$1.1M	$526K	50x	as long as short
Deribit LDO_USDC-PERPETUAL	+0.0215%	1h	0.4304	−0.001%	$3K	$10K	25x	as long as short
GMX LDO/USD [ETH-USDC]short	L +0.0319% / S −0.0201%	1h	0.4302	−0.054%	$23K	—	100x
Reya LDORUSDPERP	+0.0336%	1h	0.4299	−0.120%	$300K	—	15x	as long as short
Lighter LDO	+0.0624%	1h	0.4313	+0.196%	$875K	$267K	10x	as long as short