Funding arb · Price arb /

LDO

all LDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0101%/8h= +11.1% APRpaid last 24h +0.019%

Price spread now: GMX against BingX−0.090%7-day average — · you buy dearer than you sell

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

Long on BingX Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 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

Funding pays, the price is against you. GMX is 0.090% cheaper against BingX than usual: you would sell low and buy high (spread −0.090% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$9 on $10k: about 3.0 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX LDO-USDT	0.4278	0.0100	pay 0.0100% / 8h	4h 24m	—	$10.0M	—
Short	GMX LDO/USD [ETH-USDC]	0.4274	L +0.0319% / S −0.0201%	get 0.0025% / 1h	24m 02s	$23K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against BingX. 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 BingXbpFee GMXbpOrdersPrice spread, now −0.090%Rate

Funding earned: $21.26
Price spread: −0.090% → 0.000%: −$9
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: −$9.74
Costs to cover: 0.220%
Break-even: 10.2 days

Slippage unknown: BingX: live order book, 14 min ago; GMX: 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 BingX live order book, 14 min ago	3.52 bp	13.3 bp −$13	25.6 bp −$256	201.1 bp −$20.1K	446.8 bp −$223.4K
Sell GMX no order-book sample	—	—	—	—	—

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 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	0.4270	−0.187%	$119K	$41K	50x	as long as short
dYdX LDO-USD	0.0000%	1h	0.4276	−0.042%	$83K	$5K	5x	as long as short
Deribit LDO_USDC-PERPETUAL	0.0000%	1h	0.4276	−0.047%	$7K	$20K	25x	as long as short
Injective LDO/USDC PERP	+0.0033%	1h	0.4110	−3.927%	$4K	$13	12x	as long as short
BloFin LDO-USDT	+0.0093%	8h	0.4278	0.000%	$903K	$253K	75x	as long as short
Paradex LDO-USD-PERP	+0.0100%	8h	0.4273	−0.113%	$3K	—	20x	as long as short
Hyperliquid LDO	+0.0100%	1h	0.4282	+0.096%	$11.7M	$3.2M	5x	as long as short
Aster LDOUSDT	+0.0100%	8h	0.4278	+0.008%	$168K	$120K	10x	as long as short
Pacifica LDO	+0.0100%	1h	0.4276	−0.049%	$110K	$46K	10x	as long as short
Binance LDOUSDT	+0.0100%	8h	0.4280	+0.052%	$18.0M	$31.1M	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	0.4276	−0.047%	$16.1M	$10.0M	50x	as long as short
OKX LDO-USDT-SWAP	+0.0100%	8h	0.4276	−0.047%	$4.0M	$6.9M	50x	as long as short
Gate LDO_USDT	+0.0100%	8h	0.4278	0.000%	$1.5M	$1.0M	50x	as long as short
MEXC LDO_USDT	+0.0100%	8h	0.4277	−0.023%	$7.7M	$6.5M	200x	as long as short
KuCoin LDOUSDTM	+0.0100%	8h	0.4278	0.000%	$2.7M	$3.7M	50x	as long as short
Bitget LDOUSDT	+0.0100%	8h	0.4276	−0.047%	$3.3M	$3.2M	75x	as long as short
BingX LDO-USDTlong	+0.0100%	8h	0.4278	long leg	—	$10.0M	—
Backpack LDO_USDC_PERP	+0.0100%	1h	0.4279	+0.023%	$91K	$177K	10x	as long as short
Variational Omni LDO	+0.0100%	8h	0.4269	−0.217%	$200K	$60K	—	as long as short
GRVT LDO_USDT_Perp	+0.0100%	8h	0.4274	−0.096%	$301K	$3.4M	10x	as long as short
ApeX Omni LDOUSDT	+0.0100%	1h	0.4270	−0.187%	$33K	$639K	50x	as long as short
Polymarket Perps LDO-USD	+0.0100%	1h	0.4278	−0.009%	$23K	$516K	5x	as long as short
SunX LDO-USDT	+0.0100%	8h	0.4378	+2.338%	$1K	$1.2M	20x	as long as short
Extended LDO-USD	+0.0104%	1h	0.4273	−0.108%	$257K	$1.3M	25x	as long as short
Aevo LDO-PERP	+0.0104%	1h	0.4277	−0.028%	$38K	—	3x	as long as short
Lighter LDO	+0.0232%	1h	0.4287	+0.217%	$871K	$265K	10x	as long as short
GMX LDO/USD [ETH-USDC]short	L +0.0319% / S −0.0201%	1h	0.4274	−0.090%	$23K	—	100x
Reya LDORUSDPERP	+0.0340%	1h	0.4273	−0.115%	$298K	—	15x	as long as short
Kraken Futures PF_LDOUSD	+0.0493%	1h	0.4282	+0.085%	$1.2M	$681K	50x	as long as short