Funding arb · Price arb /

LDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.062%

Price spread now: Deribit against Paradex+0.134%7-day average — · you sell dearer than you buy

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

Long on Paradex Short on Deribit

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

The price spread pays, funding is against you. Deribit is 0.134% dearer against Paradex than usual: you sell high and buy low (spread +0.134% now, against zero (this spread has no 7-day history yet)): +$13 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 4.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex LDO-USD-PERP	0.4363	0.0100	pay 0.0100% / 8h	46m 18s	$3K	$56	20x
Short	Deribit LDO_USDC-PERPETUAL	0.4369	0	get 0.0000% / 1h	46m 18s	$3K	$10K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Paradex. 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 ParadexbpFee DeribitbpOrdersPrice spread, now +0.134%Rate

Funding earned: −$20.99
Price spread: +0.134% → 0.000%: $13.4
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$18.59
Costs to cover: 0.110%
Break-even: from the start

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

Paradex and Deribit: 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
Injective LDO/USDC PERP	−0.5000%	1h	0.4110	−5.802%	$4K	$14	12x	as long as short
Coinbase International LDO-PERP-INTX	−0.1016%	1h	0.4361	−0.049%	$118K	$56K	50x	as long as short
dYdX LDO-USD	0.0000%	1h	0.4366	+0.074%	$84K	$17K	5x	as long as short
Deribit LDO_USDC-PERPETUALshort	0.0000%	1h	0.4369	+0.134%	$3K	$10K	25x
Kraken Futures PF_LDOUSD	+0.0026%	1h	0.4370	+0.154%	$1.1M	$529K	50x	as long as short
Paradex LDO-USD-PERPlong	+0.0100%	8h	0.4363	long leg	$3K	$56	20x
Hyperliquid LDO	+0.0100%	1h	0.4374	+0.242%	$12.2M	$4.0M	5x	as long as short
Aster LDOUSDT	+0.0100%	8h	0.4368	+0.116%	$172K	$149K	10x	as long as short
Pacifica LDO	+0.0100%	1h	0.4363	−0.004%	$112K	$178K	10x	as long as short
Binance LDOUSDT	+0.0100%	8h	0.4368	+0.120%	$18.2M	$37.6M	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	0.4363	−0.004%	$16.6M	$12.6M	50x	as long as short
OKX LDO-USDT-SWAP	+0.0100%	8h	0.4363	−0.004%	$4.1M	$9.1M	50x	as long as short
Gate LDO_USDT	+0.0100%	8h	0.4364	+0.019%	$1.5M	$1.1M	50x	as long as short
MEXC LDO_USDT	+0.0100%	8h	0.4367	+0.088%	$8.5M	$7.5M	200x	as long as short
KuCoin LDOUSDTM	+0.0100%	8h	0.4368	+0.111%	$2.8M	$4.3M	50x	as long as short
Bitget LDOUSDT	+0.0100%	8h	0.4366	+0.065%	$3.4M	$3.6M	75x	as long as short
BingX LDO-USDT	+0.0100%	8h	0.4364	+0.019%	—	$3.7M	—	as long as short
Backpack LDO_USDC_PERP	+0.0100%	1h	0.4360	−0.084%	$88K	$179K	10x	as long as short
Variational Omni LDO	+0.0100%	8h	0.4372	+0.202%	$204K	$83K	—	as long as short
GRVT LDO_USDT_Perp	+0.0100%	8h	0.4377	+0.310%	$313K	$3.4M	10x	as long as short
ApeX Omni LDOUSDT	+0.0100%	1h	0.4380	+0.386%	$35K	$648K	50x	as long as short
Polymarket Perps LDO-USD	+0.0100%	1h	0.4369	+0.129%	$23K	$736K	5x	as long as short
SunX LDO-USDT	+0.0100%	8h	0.4469	+2.426%	$2K	$1.5M	20x	as long as short
Extended LDO-USD	+0.0104%	1h	0.4363	+0.007%	$263K	$1.0M	25x	as long as short
Aevo LDO-PERP	+0.0104%	1h	0.4369	+0.133%	$39K	—	3x	as long as short
BloFin LDO-USDT	+0.0121%	8h	0.4359	−0.095%	$790K	$221K	75x	as long as short
GMX LDO/USD [ETH-USDC]	L +0.0320% / S −0.0201%	1h	0.4369	+0.139%	$24K	—	100x	as long as short
Reya LDORUSDPERP	+0.0335%	1h	0.4365	+0.042%	$304K	—	15x	as long as short
Lighter LDO	+0.0416%	1h	0.4376	+0.292%	$887K	$268K	10x	as long as short