Funding you earn now, next payment 08:00 UTC−0.0246%/8h= −26.9% APRnext payment −$0.31 per $10,000 · paid last 24h −0.075%
Price spread now: Backpack against Reya+0.092%7-day average +0.063% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)−0.229%−$23 on $10k
+Price spread, last 4 days (all we have)−0.465%−$46 · spread now +0.092%, 7d avg +0.063%
=Together, before fees−0.694%+ Points / potential airdropReya: Active · farm board−$69 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Backpack is 0.029% dearer against Reya than usual: you sell high and buy low (spread +0.092% now, against its 7-day average of +0.063%): +$3 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 9 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Reya LDORUSDPERP | 0.4196 | 0.0346 | pay 0.0043% / 1h | 20m 10s | $293K | — | 15x |
| Short | Backpack LDO_USDC_PERP | 0.4200 | 0.0100 | get 0.0013% / 1h | 20m 10s | $88K | $177K | 10x |
Reya LDORUSDPERP
Backpack LDO_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Reya. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$51.6
- Price spread: +0.092% → +0.063%
- $2.85
- Slippage, 4 orders
- no order book: not counted
- Fee Reya: 3 bp × 2 orders
- −$6
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$64.74
- Costs to cover
- 0.160%
- Break-even
- never at this rate
Slippage unknown: Reya: no order-book sample; Backpack: live order book, 18 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 Reya no order-book sample | — | — | — | — | — |
| Sell Backpack live order book, 18 min ago | 0.36 bp | 10.6 bp −$11 | doesn't fit | doesn't fit | doesn't fit |
Reya: 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 | −0.0920% | 1h | 0.4178 | −0.426% | $116K | $39K | 50x | as long as short |
| dYdX LDO-USD | 0.0000% | 1h | 0.4195 | −0.016% | $81K | $5K | 5x | as long as short |
| Deribit LDO_USDC-PERPETUAL | 0.0000% | 1h | 0.4199 | +0.075% | $7K | $20K | 25x | as long as short |
| Injective LDO/USDC PERP | +0.0033% | 1h | 0.4110 | −2.046% | $4K | $11 | 12x | as long as short |
| Paradex LDO-USD-PERP | +0.0100% | 8h | 0.4195 | −0.019% | $3K | — | 20x | as long as short |
| Hyperliquid LDO | +0.0100% | 1h | 0.4202 | +0.154% | $11.5M | $3.0M | 5x | as long as short |
| Aster LDOUSDT | +0.0100% | 8h | 0.4198 | +0.059% | $165K | $91K | 10x | as long as short |
| Pacifica LDO | +0.0100% | 1h | 0.4197 | +0.021% | $106K | $28K | 10x | as long as short |
| Binance LDOUSDT | +0.0100% | 8h | 0.4201 | +0.129% | $17.7M | $31.0M | 75x | as long as short |
| Bybit LDOUSDT | +0.0100% | 8h | 0.4198 | +0.051% | $16.1M | $10.0M | 50x | as long as short |
Coinbase International LDO-PERP-INTX
dYdX LDO-USD
Deribit LDO_USDC-PERPETUAL
Injective LDO/USDC PERP
Paradex LDO-USD-PERP
Hyperliquid LDO
Aster LDOUSDT
Pacifica LDO
Binance LDOUSDT
Bybit LDOUSDTShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX LDO-USDT-SWAP | +0.0100% | 8h | 0.4200 | +0.099% | $4.0M | $6.6M | 50x | as long as short |
| Gate LDO_USDT | +0.0100% | 8h | 0.4196 | +0.003% | $1.4M | $1.2M | 50x | as long as short |
| MEXC LDO_USDT | +0.0100% | 8h | 0.4200 | +0.099% | $6.6M | $5.5M | 200x | as long as short |
| KuCoin LDOUSDTM | +0.0100% | 8h | 0.4198 | +0.051% | $2.7M | $3.3M | 50x | as long as short |
| Bitget LDOUSDT | +0.0100% | 8h | 0.4199 | +0.075% | $3.2M | $3.0M | 75x | as long as short |
| BingX LDO-USDT | +0.0100% | 8h | 0.4201 | +0.123% | — | $10.1M | — | as long as short |
| Backpack LDO_USDC_PERPshort | +0.0100% | 1h | 0.4200 | +0.092% | $88K | $177K | 10x | |
| Variational Omni LDO | +0.0100% | 8h | 0.4192 | −0.097% | $200K | $66K | — | as long as short |
| GRVT LDO_USDT_Perp | +0.0100% | 8h | 0.4187 | −0.211% | $294K | $3.5M | 10x | as long as short |
| ApeX Omni LDOUSDT | +0.0100% | 1h | 0.4190 | −0.140% | $31K | $633K | 50x | as long as short |
| Polymarket Perps LDO-USD | +0.0100% | 1h | 0.4202 | +0.139% | $24K | $375K | 5x | as long as short |
| SunX LDO-USDT | +0.0100% | 8h | 0.4298 | +2.434% | $1K | $1.2M | 20x | as long as short |
| Extended LDO-USD | +0.0104% | 1h | 0.4196 | +0.007% | $251K | $1.4M | 25x | as long as short |
| Aevo LDO-PERP | +0.0104% | 1h | 0.4198 | +0.052% | $37K | — | 3x | as long as short |
| BloFin LDO-USDT | +0.0106% | 8h | 0.4197 | +0.027% | $891K | $257K | 75x | as long as short |
| Kraken Futures PF_LDOUSD | +0.0226% | 1h | 0.4197 | +0.030% | $1.1M | $729K | 50x | as long as short |
| GMX LDO/USD [ETH-USDC] | L +0.0318% / S −0.0201% | 1h | 0.4200 | +0.098% | $23K | — | 100x | as long as short |
| Reya LDORUSDPERPlong | +0.0346% | 1h | 0.4196 | long leg | $293K | — | 15x | |
| Lighter LDO | +0.0376% | 1h | 0.4208 | +0.285% | $848K | $271K | 10x | as long as short |
OKX LDO-USDT-SWAP
Gate LDO_USDT
MEXC LDO_USDT
KuCoin LDOUSDTM
Bitget LDOUSDT
BingX LDO-USDT
Variational Omni LDO
GRVT LDO_USDT_Perp
ApeX Omni LDOUSDT
Polymarket Perps LDO-USD
SunX LDO-USDT
Extended LDO-USD
Aevo LDO-PERP
BloFin LDO-USDT
Kraken Futures PF_LDOUSD
GMX LDO/USD [ETH-USDC]
Lighter LDO