Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.006%
Price spread now: Backpack against Binance−0.305%7-day average −0.014% · you buy dearer than you sell
Net, funding: paid 7d − costs−$59as in the Funding arb table
Net, price: spread back to 7d avg − costs−$76as in the Price arb table
costs, in and out, $10k−$470.467% of the position
Funding, last 7 days−0.118%−$12 on $10k
+Price spread, last 4 days (all we have)+0.207%+$21 · spread now −0.305%, 7d avg −0.014%
=Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Backpack is 0.291% cheaper against Binance than usual: you would sell low and buy high, −$29 on $10k if it goes back to its 7-day average of −0.014%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance LDOUSDT | 0.4347 | 0.0100 | pay 0.0100% / 8h | 7h 10m | $18.2M | $37.0M | 75x |
| Short | Backpack LDO_USDC_PERP | 0.4334 | 0.0100 | get 0.0013% / 1h | 10m 45s | $87K | $150K | 10x |
Binance LDOUSDT
Backpack LDO_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Binance. 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: −0.305% → −0.014%
- −$29.12
- Slippage, 4 orders
- −$26.74
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$75.86
- Costs to cover
- 0.467%
- Break-even
- never at this rate
Slippage from Binance: live order book, 1 min ago; Backpack: live order book, 62 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 Binance live order book, 1 min ago | 1.15 bp | 11.3 bp −$11 | 22.1 bp −$221 | 241.7 bp −$24.2K | doesn't fit |
| Sell Backpack live order book, 62 min ago | 0.58 bp | 10.0 bp −$10 | doesn't fit | doesn't fit | doesn't fit |
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 | −0.0752% | 1h | 0.4340 | −0.165% | $118K | $47K | 50x | as long as short |
| Deribit LDO_USDC-PERPETUAL | 0.0000% | 1h | 0.4335 | −0.280% | $8K | $20K | 25x | as long as short |
| dYdX LDO-USD | +0.0028% | 1h | 0.4345 | −0.043% | $84K | $17K | 5x | as long as short |
| Injective LDO/USDC PERP | +0.0033% | 1h | 0.4110 | −5.456% | $4K | $14 | 12x | as long as short |
| Paradex LDO-USD-PERP | +0.0100% | 8h | 0.4342 | −0.122% | $3K | — | 20x | as long as short |
| BloFin LDO-USDT | +0.0100% | 8h | 0.4332 | −0.349% | $789K | $212K | 75x | as long as short |
| Hyperliquid LDO | +0.0100% | 1h | 0.4346 | −0.034% | $12.0M | $4.1M | 5x | as long as short |
| Aster LDOUSDT | +0.0100% | 8h | 0.4342 | −0.121% | $171K | $149K | 10x | as long as short |
| Pacifica LDO | +0.0100% | 1h | 0.4346 | −0.037% | $112K | $178K | 10x | as long as short |
| Binance LDOUSDTlong | +0.0100% | 8h | 0.4347 | long leg | $18.2M | $37.0M | 75x |
Coinbase International LDO-PERP-INTX
Deribit LDO_USDC-PERPETUAL
dYdX LDO-USD
Injective LDO/USDC PERP
Paradex LDO-USD-PERP
BloFin LDO-USDT
Hyperliquid LDO
Aster LDOUSDT
Pacifica LDOShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit LDOUSDT | +0.0100% | 8h | 0.4344 | −0.073% | $16.4M | $11.8M | 50x | as long as short |
| OKX LDO-USDT-SWAP | +0.0100% | 8h | 0.4344 | −0.073% | $4.1M | $8.8M | 50x | as long as short |
| Gate LDO_USDT | +0.0100% | 8h | 0.4347 | −0.004% | $1.5M | $1.0M | 50x | as long as short |
| MEXC LDO_USDT | +0.0100% | 8h | 0.4348 | +0.019% | $8.0M | $7.5M | 200x | as long as short |
| KuCoin LDOUSDTM | +0.0100% | 8h | 0.4346 | −0.027% | $2.8M | $4.1M | 50x | as long as short |
| Bitget LDOUSDT | +0.0100% | 8h | 0.4346 | −0.027% | $3.4M | $3.5M | 75x | as long as short |
| BingX LDO-USDT | +0.0100% | 8h | 0.4347 | −0.004% | — | $10.1M | — | as long as short |
| Backpack LDO_USDC_PERPshort | +0.0100% | 1h | 0.4334 | −0.305% | $87K | $150K | 10x | |
| Variational Omni LDO | +0.0100% | 8h | 0.4331 | −0.365% | $204K | $82K | — | as long as short |
| GRVT LDO_USDT_Perp | +0.0100% | 8h | 0.4342 | −0.119% | $308K | $3.5M | 10x | as long as short |
| ApeX Omni LDOUSDT | +0.0100% | 1h | 0.4340 | −0.165% | $35K | $644K | 50x | as long as short |
| Polymarket Perps LDO-USD | +0.0100% | 1h | 0.4338 | −0.220% | $23K | $720K | 5x | as long as short |
| SunX LDO-USDT | +0.0100% | 8h | 0.4435 | +2.020% | $2K | $1.4M | 20x | as long as short |
| Extended LDO-USD | +0.0104% | 1h | 0.4343 | −0.101% | $264K | $1.3M | 25x | as long as short |
| Aevo LDO-PERP | +0.0104% | 1h | 0.4333 | −0.319% | $38K | — | 3x | as long as short |
| Kraken Futures PF_LDOUSD | +0.0196% | 1h | 0.4337 | −0.235% | $1.1M | $516K | 50x | as long as short |
| GMX LDO/USD [ETH-USDC] | L +0.0320% / S −0.0201% | 1h | 0.4336 | −0.262% | $24K | — | 100x | as long as short |
| Reya LDORUSDPERP | +0.0337% | 1h | 0.4333 | −0.317% | $302K | — | 15x | as long as short |
| Lighter LDO | +0.0584% | 1h | 0.4355 | +0.189% | $884K | $267K | 10x | as long as short |
Bybit LDOUSDT
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
Kraken Futures PF_LDOUSD
GMX LDO/USD [ETH-USDC]
Reya LDORUSDPERP
Lighter LDO