Funding arb · Price arb /

LDO

all LDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0285%/8h= −31.2% APRpaid last 24h −0.063%

Price spread now: Gate against GMX+0.153%7-day average — · you sell dearer than you buy

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

Long on GMX Short on Gate

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

The price spread pays, funding is against you. Gate is 0.153% dearer against GMX than usual: you sell high and buy low (spread +0.153% now, against zero (this spread has no 7-day history yet)): +$15 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 43 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX LDO/USD [ETH-USDC]	0.4174	L +0.0385% / S −0.0308%	pay 0.0048% / 1h	5m 37s	$29K	—	100x
Short	Gate LDO_USDT	0.4180	0.0100	get 0.0100% / 8h	6h 05m	$1.6M	$1.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against GMX. 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 GMXbpFee GatebpOrdersPrice spread, now +0.153%Rate

Funding earned: −$59.79
Price spread: +0.153% → 0.000%: $15.31
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$71.48
Costs to cover: 0.270%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Gate: live order book, 5 min ago. 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 GMX no order-book sample	—	—	—	—	—
Sell Gate live order book, 5 min ago	3.60 bp	26.9 bp −$27	128.9 bp −$1,289	doesn't fit	doesn't fit

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	−0.0616%	1h	0.4168	−0.134%	$115K	$46K	50x	as long as short
Kraken Futures PF_LDOUSD	−0.0180%	1h	0.4177	+0.077%	$1.0M	$765K	50x	as long as short
dYdX LDO-USD	0.0000%	1h	0.4170	−0.084%	$80K	$2K	5x	as long as short
Deribit LDO_USDC-PERPETUAL	0.0000%	1h	0.4173	−0.015%	$7K	$10K	25x	as long as short
Injective LDO/USDC PERP	+0.0033%	1h	0.4110	−1.524%	$4K	$10	12x	as long as short
Paradex LDO-USD-PERP	+0.0100%	8h	0.4179	+0.124%	$3K	—	20x	as long as short
Hyperliquid LDO	+0.0100%	1h	0.4184	+0.256%	$11.4M	$2.8M	5x	as long as short
Aster LDOUSDT	+0.0100%	8h	0.4180	+0.153%	$164K	$54K	10x	as long as short
Pacifica LDO	+0.0100%	1h	0.4180	+0.161%	$105K	$28K	10x	as long as short
Binance LDOUSDT	+0.0100%	8h	0.4180	+0.152%	$17.6M	$31.0M	75x	as long as short

Show all 29 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit LDOUSDT	+0.0100%	8h	0.4178	+0.105%	$16.1M	$9.5M	50x	as long as short
OKX LDO-USDT-SWAP	+0.0100%	8h	0.4179	+0.129%	$4.0M	$6.1M	50x	as long as short
Gate LDO_USDTshort	+0.0100%	8h	0.4180	+0.153%	$1.6M	$1.1M	50x
MEXC LDO_USDT	+0.0100%	8h	0.4179	+0.129%	$6.3M	$5.4M	200x	as long as short
KuCoin LDOUSDTM	+0.0100%	8h	0.4178	+0.105%	$2.6M	$3.0M	50x	as long as short
Bitget LDOUSDT	+0.0100%	8h	0.4180	+0.153%	$3.2M	$2.5M	75x	as long as short
BingX LDO-USDT	+0.0100%	8h	0.4178	+0.105%	—	$10.0M	—	as long as short
Backpack LDO_USDC_PERP	+0.0100%	1h	0.4174	0.000%	$86K	$172K	10x	as long as short
Variational Omni LDO	+0.0100%	8h	0.4170	−0.085%	$199K	$59K	—	as long as short
GRVT LDO_USDT_Perp	+0.0100%	8h	0.4173	−0.015%	$293K	$3.4M	10x	as long as short
ApeX Omni LDOUSDT	+0.0100%	1h	0.4180	+0.153%	$31K	$633K	50x	as long as short
Polymarket Perps LDO-USD	+0.0100%	1h	0.4168	−0.134%	$24K	$314K	5x	as long as short
SunX LDO-USDT	+0.0100%	8h	0.4272	+2.357%	$1K	$1.1M	20x	as long as short
BloFin LDO-USDT	+0.0101%	8h	0.4168	−0.134%	$883K	$267K	75x	as long as short
Lighter LDO	+0.0104%	1h	0.4187	+0.318%	$844K	$263K	10x	as long as short
Extended LDO-USD	+0.0104%	1h	0.4178	+0.098%	$252K	$1.4M	25x	as long as short
Aevo LDO-PERP	+0.0104%	1h	0.4175	+0.026%	$37K	—	3x	as long as short
Reya LDORUSDPERP	+0.0349%	1h	0.4164	−0.224%	$290K	—	15x	as long as short
GMX LDO/USD [ETH-USDC]long	L +0.0385% / S −0.0308%	1h	0.4174	long leg	$29K	—	100x