Funding arb · Price arb /

LDO

all LDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.045%

Price spread now: Paradex against Deribit−0.085%7-day average — · you buy dearer than you sell

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

Long on Deribit Short on Paradex

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—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Funding pays, the price is against you. Paradex is 0.085% cheaper against Deribit than usual: you would sell low and buy high (spread −0.085% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$9 on $10k: about 2.8 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit LDO_USDC-PERPETUAL	0.4257	0	get 0.0000% / 1h	1m 56s	$7K	$20K	25x
Short	Paradex LDO-USD-PERP	0.4253	0.0100	get 0.0100% / 8h	2h 01m	$3K	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Deribit. 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 DeribitbpFee ParadexbpOrdersPrice spread, now −0.085%Rate

Funding earned: $21
Price spread: −0.085% → 0.000%: −$8.51
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Paradex: 2 bp × 2 orders: −$4
Net: $1.49
Costs to cover: 0.110%
Break-even: 6.5 days

Slippage unknown: Deribit: no order-book sample; Paradex: 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 Deribit no order-book sample	—	—	—	—	—
Sell Paradex no order-book sample	—	—	—	—	—

Deribit and Paradex: 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	−0.0464%	1h	0.4192	−1.527%	$117K	$41K	50x	as long as short
dYdX LDO-USD	0.0000%	1h	0.4253	−0.088%	$82K	$5K	5x	as long as short
Deribit LDO_USDC-PERPETUALlong	0.0000%	1h	0.4257	long leg	$7K	$20K	25x
Injective LDO/USDC PERP	+0.0033%	1h	0.4110	−3.453%	$4K	$11	12x	as long as short
BloFin LDO-USDT	+0.0096%	8h	0.4255	−0.047%	$888K	$260K	75x	as long as short
Paradex LDO-USD-PERPshort	+0.0100%	8h	0.4253	−0.085%	$3K	—	20x
Hyperliquid LDO	+0.0100%	1h	0.4262	+0.113%	$11.6M	$3.1M	5x	as long as short
Aster LDOUSDT	+0.0100%	8h	0.4260	+0.069%	$168K	$91K	10x	as long as short
Pacifica LDO	+0.0100%	1h	0.4256	−0.034%	$107K	$28K	10x	as long as short
Binance LDOUSDT	+0.0100%	8h	0.4260	+0.063%	$17.8M	$31.1M	75x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit LDOUSDT	+0.0100%	8h	0.4256	−0.023%	$16.1M	$10.2M	50x	as long as short
OKX LDO-USDT-SWAP	+0.0100%	8h	0.4256	−0.023%	$4.0M	$6.8M	50x	as long as short
Gate LDO_USDT	+0.0100%	8h	0.4258	+0.023%	$1.4M	$1.1M	50x	as long as short
MEXC LDO_USDT	+0.0100%	8h	0.4259	+0.047%	$7.1M	$5.9M	200x	as long as short
KuCoin LDOUSDTM	+0.0100%	8h	0.4259	+0.047%	$2.7M	$3.5M	50x	as long as short
Bitget LDOUSDT	+0.0100%	8h	0.4258	+0.023%	$3.3M	$3.1M	75x	as long as short
BingX LDO-USDT	+0.0100%	8h	0.4256	−0.023%	—	$10.0M	—	as long as short
Backpack LDO_USDC_PERP	+0.0100%	1h	0.4258	+0.014%	$90K	$181K	10x	as long as short
Variational Omni LDO	+0.0100%	8h	0.4254	−0.064%	$198K	$62K	—	as long as short
GRVT LDO_USDT_Perp	+0.0100%	8h	0.4254	−0.068%	$303K	$3.5M	10x	as long as short
ApeX Omni LDOUSDT	+0.0100%	1h	0.4260	+0.070%	$32K	$637K	50x	as long as short
Polymarket Perps LDO-USD	+0.0100%	1h	0.4259	+0.038%	$22K	$375K	5x	as long as short
SunX LDO-USDT	+0.0100%	8h	0.4357	+2.349%	$2K	$1.2M	20x	as long as short
Extended LDO-USD	+0.0104%	1h	0.4256	−0.030%	$259K	$1.2M	25x	as long as short
Aevo LDO-PERP	+0.0104%	1h	0.4257	+0.010%	$38K	—	3x	as long as short
Lighter LDO	+0.0232%	1h	0.4265	+0.181%	$860K	$267K	10x	as long as short
GMX LDO/USD [ETH-USDC]	L +0.0319% / S −0.0201%	1h	0.4257	−0.002%	$23K	—	100x	as long as short
Reya LDORUSDPERP	+0.0343%	1h	0.4254	−0.065%	$297K	—	15x	as long as short
Kraken Futures PF_LDOUSD	+0.0593%	1h	0.4260	+0.074%	$1.1M	$661K	50x	as long as short