Funding you earn now, next payment 11:00 UTC+0.1052%/8h= +115.2% APRpaid last 24h +0.277%
Price spread now: Bybit against Coinbase International+0.925%7-day average +0.050% · you sell dearer than you buy
Net, funding: paid 7d − costs−$202as in the Funding arb table
Net, price: spread back to 7d avg − costs−$179as in the Price arb table
costs, in and out, $10k−$2672.669% of the position
Funding, last 7 days+0.654%+$65 on $10k
+Price spread, last 4 days (all we have)−1.203%−$120 · spread now +0.925%, 7d avg +0.050%
=Both sides work for this trade now. Funding pays +$32 a day on $10k at the current rate, and Bybit is 0.875% dearer against Coinbase International than usual: you sell high and buy low: +$87 more if the spread goes back to its 7-day average of +0.050%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.654% in total (about 34.1% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Coinbase International LDO-PERP-INTX | 0.4108 | −0.0952 | get 0.0119% / 1h | 9m 47s | $113K | $45K | 50x |
| Short | Bybit LDOUSDT | 0.4146 | 0.0100 | get 0.0100% / 8h | 4h 09m | $16.1M | $9.4M | 50x |
Coinbase International LDO-PERP-INTX
Bybit LDOUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Coinbase International. 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
- $220.92
- Price spread: +0.925% → +0.050%
- $87.46
- Slippage, 4 orders
- −$245.94
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- $41.44
- Costs to cover
- 2.669%
- Break-even
- 5.7 days
Slippage from Coinbase International: live order book, 31 min ago; Bybit: live order book, 2 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 Coinbase International live order book, 31 min ago | 24.27 bp | 36.4 bp −$36 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bybit live order book, 2 min ago | 1.21 bp | 13.6 bp −$14 | 41.3 bp −$413 | doesn't fit | doesn't fit |
LDO on 29 exchanges
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-INTXlong | −0.0952% | 1h | 0.4108 | long leg | $113K | $45K | 50x | |
| Deribit LDO_USDC-PERPETUAL | −0.0474% | 1h | 0.4141 | +0.803% | $7K | $10K | 25x | as long as short |
| Injective LDO/USDC PERP | −0.0384% | 1h | 0.4120 | +0.292% | $4K | $9 | 12x | as long as short |
| dYdX LDO-USD | 0.0000% | 1h | 0.4149 | +0.993% | $80K | $2K | 5x | as long as short |
| BloFin LDO-USDT | +0.0085% | 8h | 0.4145 | +0.901% | $865K | $268K | 75x | as long as short |
| Lighter LDO | +0.0096% | 1h | 0.4153 | +1.095% | $828K | $229K | 10x | as long as short |
| Paradex LDO-USD-PERP | +0.0100% | 8h | 0.4146 | +0.924% | $3K | — | 20x | as long as short |
| Hyperliquid LDO | +0.0100% | 1h | 0.4149 | +1.010% | $11.2M | $3.0M | 5x | as long as short |
| Aster LDOUSDT | +0.0100% | 8h | 0.4148 | +0.978% | $166K | $55K | 10x | as long as short |
| Pacifica LDO | +0.0100% | 1h | 0.4149 | +0.998% | $105K | $7K | 10x | as long as short |
Deribit LDO_USDC-PERPETUAL
Injective LDO/USDC PERP
dYdX LDO-USD
BloFin LDO-USDT
Lighter LDO
Paradex LDO-USD-PERP
Hyperliquid LDO
Aster LDOUSDT
Pacifica LDOShow all 29 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance LDOUSDT | +0.0100% | 8h | 0.4147 | +0.949% | $17.3M | $30.6M | 75x | as long as short |
| Bybit LDOUSDTshort | +0.0100% | 8h | 0.4146 | +0.925% | $16.1M | $9.4M | 50x | |
| OKX LDO-USDT-SWAP | +0.0100% | 8h | 0.4148 | +0.974% | $4.0M | $5.8M | 50x | as long as short |
| Gate LDO_USDT | +0.0100% | 8h | 0.4148 | +0.974% | $1.5M | $1.0M | 50x | as long as short |
| MEXC LDO_USDT | +0.0100% | 8h | 0.4148 | +0.974% | $6.3M | $5.2M | 200x | as long as short |
| KuCoin LDOUSDTM | +0.0100% | 8h | 0.4146 | +0.925% | $2.5M | $2.8M | 50x | as long as short |
| Bitget LDOUSDT | +0.0100% | 8h | 0.4146 | +0.925% | $3.2M | $2.5M | 75x | as long as short |
| BingX LDO-USDT | +0.0100% | 8h | 0.4145 | +0.901% | — | $10.1M | — | as long as short |
| Backpack LDO_USDC_PERP | +0.0100% | 1h | 0.4145 | +0.891% | $84K | $165K | 10x | as long as short |
| Variational Omni LDO | +0.0100% | 8h | 0.4142 | +0.836% | $198K | $44K | — | as long as short |
| GRVT LDO_USDT_Perp | +0.0100% | 8h | 0.4145 | +0.897% | $295K | $3.4M | 10x | as long as short |
| ApeX Omni LDOUSDT | +0.0100% | 1h | 0.4140 | +0.779% | $20K | $633K | 50x | as long as short |
| Polymarket Perps LDO-USD | +0.0100% | 1h | 0.4147 | +0.947% | $21K | $328K | 5x | as long as short |
| SunX LDO-USDT | +0.0100% | 8h | 0.4241 | +3.238% | $2K | $1.1M | 20x | as long as short |
| Extended LDO-USD | +0.0104% | 1h | 0.4144 | +0.865% | $249K | $1.6M | 25x | as long as short |
| Aevo LDO-PERP | +0.0104% | 1h | 0.4142 | +0.815% | $37K | — | 3x | as long as short |
| Kraken Futures PF_LDOUSD | +0.0118% | 1h | 0.4145 | +0.902% | $1.0M | $737K | 50x | as long as short |
| Reya LDORUSDPERP | +0.0351% | 1h | 0.4141 | +0.807% | $289K | — | 15x | as long as short |
| GMX LDO/USD [ETH-USDC] | L +0.0384% / S −0.0308% | 1h | 0.4144 | +0.879% | $29K | — | 100x | as long as short |
Binance LDOUSDT
OKX LDO-USDT-SWAP
Gate LDO_USDT
MEXC LDO_USDT
KuCoin LDOUSDTM
Bitget LDOUSDT
BingX LDO-USDT
Backpack LDO_USDC_PERP
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
Reya LDORUSDPERP
GMX LDO/USD [ETH-USDC]