Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.009%
Price spread now: Bybit against Backpack+0.177%45s7-day average −0.067% · you sell dearer than you buy
Net, funding: paid 7d − costs−$47as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$570.572% of the position
Funding, last 7 days+0.105%+$11 on $10k
+Price spread, last 4 days (all we have)−0.176%−$18 · spread now +0.177%, 7d avg −0.067%
=Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.244% dearer against Backpack than usual: you sell high and buy low, +$24 on $10k if it goes back to its 7-day average of −0.067%. The two prices were read 45 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 | Backpack LDO_USDC_PERP | 0.4285 | 0.0100 | pay 0.0013% / 1h | 28m 23s | $89K | $157K | 10x |
| Short | Bybit LDOUSDT | 0.4293 | 0.0100 | get 0.0100% / 8h | 6h 28m | $16.2M | $11.0M | 50x |
Backpack LDO_USDC_PERP
Bybit LDOUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Backpack. 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
- $0
- Price spread: +0.177% → −0.067%
- $24.45
- Slippage, 4 orders
- −$36.15
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$32.71
- Costs to cover
- 0.572%
- Break-even
- never at this rate
Slippage from Backpack: live order book, 40 min ago; Bybit: live order book, 5 min ago.
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 Backpack live order book, 40 min ago | 1.27 bp | 12.8 bp −$13 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bybit live order book, 5 min ago | 2.34 bp | 17.2 bp −$17 | 36.8 bp −$368 | doesn't fit | doesn't fit |
LDO on 28 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 | −0.0416% | 1h | 0.4277 | −0.196% | $119K | $44K | 50x | as long as short |
| dYdX LDO-USD | 0.0000% | 1h | 0.4290 | +0.107% | $83K | $5K | 5x | as long as short |
| Injective LDO/USDC PERP | +0.0033% | 1h | 0.4110 | −4.093% | $4K | $13 | 12x | as long as short |
| Paradex LDO-USD-PERP | +0.0099% | 8h | 0.4285 | −0.015% | $3K | — | 20x | as long as short |
| Hyperliquid LDO | +0.0100% | 1h | 0.4295 | +0.233% | $11.9M | $3.7M | 5x | as long as short |
| Aster LDOUSDT | +0.0100% | 8h | 0.4293 | +0.177% | $169K | $134K | 10x | as long as short |
| Pacifica LDO | +0.0100% | 1h | 0.4290 | +0.100% | $110K | $159K | 10x | as long as short |
| Binance LDOUSDT | +0.0100% | 8h | 0.4296 | +0.252% | $18.0M | $33.7M | 75x | as long as short |
| Bybit LDOUSDTshort | +0.0100% | 8h | 0.4293 | +0.177% | $16.2M | $11.0M | 50x | |
| OKX LDO-USDT-SWAP | +0.0100% | 8h | 0.4297 | +0.271% | $4.0M | $7.8M | 50x | as long as short |
Coinbase International LDO-PERP-INTX
dYdX LDO-USD
Injective LDO/USDC PERP
Paradex LDO-USD-PERP
Hyperliquid LDO
Aster LDOUSDT
Pacifica LDO
Binance LDOUSDT
OKX LDO-USDT-SWAPShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate LDO_USDT | +0.0100% | 8h | 0.4296 | +0.247% | $1.5M | $1.0M | 50x | as long as short |
| MEXC LDO_USDT | +0.0100% | 8h | 0.4290 | +0.107% | $7.7M | $7.2M | 200x | as long as short |
| KuCoin LDOUSDTM | +0.0100% | 8h | 0.4291 | +0.131% | $2.7M | $4.1M | 50x | as long as short |
| Bitget LDOUSDT | +0.0100% | 8h | 0.4295 | +0.224% | $3.3M | $3.3M | 75x | as long as short |
| BingX LDO-USDT | +0.0100% | 8h | 0.4292 | +0.154% | — | $10.0M | — | as long as short |
| Backpack LDO_USDC_PERPlong | +0.0100% | 1h | 0.4285 | long leg | $89K | $157K | 10x | |
| Variational Omni LDO | +0.0100% | 8h | 0.4280 | −0.118% | $202K | $71K | — | as long as short |
| GRVT LDO_USDT_Perp | +0.0100% | 8h | 0.4275 | −0.243% | $303K | $3.4M | 10x | as long as short |
| ApeX Omni LDOUSDT | +0.0100% | 1h | 0.4290 | +0.107% | $33K | $643K | 50x | as long as short |
| Polymarket Perps LDO-USD | +0.0100% | 1h | 0.4293 | +0.168% | $23K | $717K | 5x | as long as short |
| SunX LDO-USDT | +0.0100% | 8h | 0.4394 | +2.534% | $2K | $1.3M | 20x | as long as short |
| Extended LDO-USD | +0.0104% | 1h | 0.4295 | +0.227% | $260K | $1.3M | 25x | as long as short |
| Aevo LDO-PERP | +0.0104% | 1h | 0.4298 | +0.294% | $38K | — | 3x | as long as short |
| Deribit LDO_USDC-PERPETUAL | +0.0215% | 1h | 0.4299 | +0.317% | $7K | $20K | 25x | as long as short |
| Lighter LDO | +0.0256% | 1h | 0.4296 | +0.240% | $872K | $268K | 10x | as long as short |
| GMX LDO/USD [ETH-USDC] | L +0.0319% / S −0.0201% | 1h | 0.4295 | +0.221% | $23K | — | 100x | as long as short |
| Reya LDORUSDPERP | +0.0338% | 1h | 0.4291 | +0.128% | $299K | — | 15x | as long as short |
| Kraken Futures PF_LDOUSD | +0.0560% | 1h | 0.4301 | +0.358% | $1.2M | $784K | 50x | as long as short |
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
Deribit LDO_USDC-PERPETUAL
Lighter LDO
GMX LDO/USD [ETH-USDC]
Reya LDORUSDPERP
Kraken Futures PF_LDOUSD