Funding arb · Price arb /

LDO

all LDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0393%/8h= −43.1% APRpaid last 24h +0.002%

Price spread now: OKX against Kraken Futures+0.042%7-day average −0.113% · you sell dearer than you buy

Net, funding: paid 7d − costs−$66as in the Funding arb table

Net, price: spread back to 7d avg − costs−$61as in the Price arb table

costs, in and out, $10k−$770.768% of the position

Long on Kraken Futures Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.107%+$11 on $10k

Price spread, last 4 days (all we have)−0.086%−$9 · spread now +0.042%, 7d avg −0.113%

Together, before fees+0.021%+$2 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.155% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.042% now, against its 7-day average of −0.113%): +$15 on $10k if it goes back. Holding the pair costs −$12 a day in funding at the current rate, which eats that in about 31 hours. Mind the row above: over the last 7 days funding on this pair paid +0.107%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.107% in total (about 5.6% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_LDOUSD	0.4277	0.0493	pay 0.0062% / 1h	13m 33s	$1.1M	$681K	50x
Short	OKX LDO-USDT-SWAP	0.4279	0.0100	get 0.0100% / 8h	4h 13m	$4.0M	$6.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Kraken Futures. 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 Kraken FuturesbpFee OKXbpOrdersPrice spread, now +0.042%Rate

Funding earned: −$82.6
Price spread: +0.042% → −0.113%: $15.49
Slippage, 4 orders: −$56.85
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$143.96
Costs to cover: 0.768%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 5 min ago; OKX: live order book, 4 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 Kraken Futures live order book, 5 min ago	5.85 bp	21.8 bp −$22	95.6 bp −$956	doesn't fit	doesn't fit
Sell OKX live order book, 4 min ago	1.17 bp	19.8 bp −$20	62.0 bp −$620	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	−0.0416%	1h	0.4250	−0.636%	$118K	$41K	50x	as long as short
dYdX LDO-USD	0.0000%	1h	0.4272	−0.118%	$82K	$5K	5x	as long as short
Deribit LDO_USDC-PERPETUAL	0.0000%	1h	0.4275	−0.051%	$7K	$20K	25x	as long as short
Injective LDO/USDC PERP	+0.0033%	1h	0.4110	−3.909%	$4K	$13	12x	as long as short
BloFin LDO-USDT	+0.0095%	8h	0.4271	−0.145%	$907K	$252K	75x	as long as short
Paradex LDO-USD-PERP	+0.0100%	8h	0.4278	+0.009%	$3K	—	20x	as long as short
Hyperliquid LDO	+0.0100%	1h	0.4282	+0.103%	$11.7M	$3.2M	5x	as long as short
Aster LDOUSDT	+0.0100%	8h	0.4277	+0.003%	$168K	$120K	10x	as long as short
Pacifica LDO	+0.0100%	1h	0.4279	+0.053%	$110K	$46K	10x	as long as short
Binance LDOUSDT	+0.0100%	8h	0.4280	+0.066%	$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	0.4277	−0.005%	$16.1M	$10.0M	50x	as long as short
OKX LDO-USDT-SWAPshort	+0.0100%	8h	0.4279	+0.042%	$4.0M	$6.8M	50x
Gate LDO_USDT	+0.0100%	8h	0.4276	−0.028%	$1.5M	$1.1M	50x	as long as short
MEXC LDO_USDT	+0.0100%	8h	0.4279	+0.042%	$7.7M	$6.5M	200x	as long as short
KuCoin LDOUSDTM	+0.0100%	8h	0.4277	−0.005%	$2.8M	$3.7M	50x	as long as short
Bitget LDOUSDT	+0.0100%	8h	0.4278	+0.019%	$3.3M	$3.2M	75x	as long as short
BingX LDO-USDT	+0.0100%	8h	0.4277	−0.005%	—	$10.0M	—	as long as short
Backpack LDO_USDC_PERP	+0.0100%	1h	0.4274	−0.084%	$91K	$177K	10x	as long as short
Variational Omni LDO	+0.0100%	8h	0.4269	−0.186%	$201K	$60K	—	as long as short
GRVT LDO_USDT_Perp	+0.0100%	8h	0.4276	−0.026%	$306K	$3.4M	10x	as long as short
ApeX Omni LDOUSDT	+0.0100%	1h	0.4270	−0.168%	$33K	$638K	50x	as long as short
Polymarket Perps LDO-USD	+0.0100%	1h	0.4274	−0.070%	$23K	$516K	5x	as long as short
SunX LDO-USDT	+0.0100%	8h	0.4374	+2.263%	$1K	$1.2M	20x	as long as short
Extended LDO-USD	+0.0104%	1h	0.4278	+0.009%	$257K	$1.3M	25x	as long as short
Aevo LDO-PERP	+0.0104%	1h	0.4274	−0.070%	$38K	—	3x	as long as short
Lighter LDO	+0.0248%	1h	0.4287	+0.236%	$872K	$266K	10x	as long as short
GMX LDO/USD [ETH-USDC]	L +0.0319% / S −0.0201%	1h	0.4271	−0.146%	$23K	—	100x	as long as short
Reya LDORUSDPERP	+0.0341%	1h	0.4269	−0.189%	$298K	—	15x	as long as short
Kraken Futures PF_LDOUSDlong	+0.0493%	1h	0.4277	long leg	$1.1M	$681K	50x