Funding arb · Price arb /

LDO

all LDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0212%/8h= +23.2% APRpaid last 24h +0.031%

Price spread now: GMX against BloFin+0.046%51s7-day average — · you sell dearer than you buy

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

Long on BloFin Short on GMX

What this pair did over the last

the charts below follow

Funding, last 4 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

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and GMX is 0.046% dearer against BloFin than usual: you sell high and buy low: +$5 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 51 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin LDO-USDT	0.4149	0.0096	pay 0.0096% / 8h	5h 47m	$880K	$266K	75x
Short	GMX LDO/USD [ETH-USDC]	0.4151	L +0.0384% / S −0.0308%	get 0.0038% / 1h	47m 39s	$29K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against BloFin. 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 BloFinbpFee GMXbpOrdersPrice spread, now +0.046%Rate

Funding earned: $44.58
Price spread: +0.046% → 0.000%: $4.58
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: $25.16
Costs to cover: 0.240%
Break-even: 3.0 days

Slippage unknown: BloFin: live order book, 62 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 BloFin live order book, 62 min ago	7.26 bp	16.1 bp −$16	29.9 bp −$299	112.9 bp −$11.3K	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 exchanges

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	−0.0384%	1h	0.4125	−0.578%	$113K	$47K	50x	as long as short
Deribit LDO_USDC-PERPETUAL	−0.0232%	1h	0.4151	+0.048%	$7K	$10K	25x	as long as short
Backpack LDO_USDC_PERP	−0.0008%	1h	0.4150	+0.024%	$84K	$171K	10x	as long as short
dYdX LDO-USD	0.0000%	1h	0.4150	+0.024%	$80K	$2K	5x	as long as short
Injective LDO/USDC PERP	+0.0033%	1h	0.4110	−0.940%	$4K	$10	12x	as long as short
BloFin LDO-USDTlong	+0.0096%	8h	0.4149	long leg	$880K	$266K	75x
Lighter LDO	+0.0096%	1h	0.4157	+0.195%	$838K	$243K	10x	as long as short
Paradex LDO-USD-PERP	+0.0100%	8h	0.4148	−0.030%	$3K	—	20x	as long as short
Hyperliquid LDO	+0.0100%	1h	0.4153	+0.087%	$11.4M	$2.8M	5x	as long as short
Aster LDOUSDT	+0.0100%	8h	0.4151	+0.037%	$163K	$54K	10x	as long as short

Show all 29 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica LDO	+0.0100%	1h	0.4151	+0.058%	$105K	$7K	10x	as long as short
Binance LDOUSDT	+0.0100%	8h	0.4147	−0.043%	$17.4M	$30.6M	75x	as long as short
Bybit LDOUSDT	+0.0100%	8h	0.4146	−0.072%	$16.0M	$9.4M	50x	as long as short
OKX LDO-USDT-SWAP	+0.0100%	8h	0.4148	−0.024%	$4.0M	$5.9M	50x	as long as short
Gate LDO_USDT	+0.0100%	8h	0.4149	0.000%	$1.6M	$1.1M	50x	as long as short
MEXC LDO_USDT	+0.0100%	8h	0.4150	+0.024%	$6.3M	$5.0M	200x	as long as short
KuCoin LDOUSDTM	+0.0100%	8h	0.4150	+0.024%	$2.6M	$2.9M	50x	as long as short
Bitget LDOUSDT	+0.0100%	8h	0.4149	0.000%	$3.2M	$2.5M	75x	as long as short
BingX LDO-USDT	+0.0100%	8h	0.4150	+0.024%	—	$10.0M	—	as long as short
Variational Omni LDO	+0.0100%	8h	0.4148	−0.013%	$198K	$51K	—	as long as short
GRVT LDO_USDT_Perp	+0.0100%	8h	0.4159	+0.239%	$294K	$3.3M	10x	as long as short
ApeX Omni LDOUSDT	+0.0100%	1h	0.4160	+0.265%	$31K	$632K	50x	as long as short
Polymarket Perps LDO-USD	+0.0100%	1h	0.4148	−0.012%	$24K	$309K	5x	as long as short
SunX LDO-USDT	+0.0100%	8h	0.4245	+2.314%	$2K	$1.1M	20x	as long as short
Extended LDO-USD	+0.0104%	1h	0.4146	−0.081%	$251K	$1.4M	25x	as long as short
Aevo LDO-PERP	+0.0104%	1h	0.4151	+0.038%	$37K	—	3x	as long as short
Reya LDORUSDPERP	+0.0349%	1h	0.4150	+0.025%	$289K	—	15x	as long as short
Kraken Futures PF_LDOUSD	+0.0364%	1h	0.4153	+0.087%	$1.0M	$742K	50x	as long as short
GMX LDO/USD [ETH-USDC]short	L +0.0384% / S −0.0308%	1h	0.4151	+0.046%	$29K	—	100x