Funding you earn now, next payment 23:00 UTC−0.0234%/8h= −25.6% APRnext payment −$0.29 per $10,000 · paid last 24h −0.071%
Price spread now: Backpack against Reya−0.069%7-day average +0.061% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)−0.202%−$20 on $10k
+Price spread, last 3 days (all we have)+0.022%+$2 · spread now −0.069%, 7d avg +0.061%
=Together, before fees−0.180%+ Points / potential airdropReya: Active · farm board−$18 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Backpack is 0.130% cheaper against Reya than usual: you would sell low and buy high (−$13 if the spread goes back to its 7-day average of +0.061%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Reya LDORUSDPERP | 0.4327 | 0.0334 | pay 0.0042% / 1h | 25m 28s | $302K | — | 15x |
| Short | Backpack LDO_USDC_PERP | 0.4324 | 0.0100 | get 0.0013% / 1h | 25m 28s | $85K | $180K | 10x |
Reya LDORUSDPERP
Backpack LDO_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Reya. 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
- −$49.06
- Price spread: −0.069% → +0.061%
- −$12.97
- Slippage, 4 orders
- no order book: not counted
- Fee Reya: 3 bp × 2 orders
- −$6
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$78.04
- Costs to cover
- 0.160%
- Break-even
- never at this rate
Slippage unknown: Reya: no order-book sample; Backpack: live order book, 58 min ago. 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 Reya no order-book sample | — | — | — | — | — |
| Sell Backpack live order book, 58 min ago | 1.83 bp | 16.2 bp −$16 | doesn't fit | doesn't fit | doesn't fit |
Reya: 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective LDO/USDC PERP | −0.0851% | 1h | 0.4110 | −5.015% | $4K | $14 | 12x | as long as short |
| Coinbase International LDO-PERP-INTX | −0.0600% | 1h | 0.4299 | −0.647% | $117K | $54K | 50x | as long as short |
| dYdX LDO-USD | 0.0000% | 1h | 0.4329 | +0.054% | $84K | $17K | 5x | as long as short |
| Deribit LDO_USDC-PERPETUAL | 0.0000% | 1h | 0.4325 | −0.046% | $3K | $10K | 25x | as long as short |
| Paradex LDO-USD-PERP | +0.0100% | 8h | 0.4324 | −0.074% | $3K | $56 | 20x | as long as short |
| Hyperliquid LDO | +0.0100% | 1h | 0.4336 | +0.211% | $12.2M | $4.0M | 5x | as long as short |
| Aster LDOUSDT | +0.0100% | 8h | 0.4330 | +0.071% | $170K | $152K | 10x | as long as short |
| Pacifica LDO | +0.0100% | 1h | 0.4327 | 0.000% | $111K | $178K | 10x | as long as short |
| Binance LDOUSDT | +0.0100% | 8h | 0.4330 | +0.073% | $18.0M | $38.1M | 75x | as long as short |
| Bybit LDOUSDT | +0.0100% | 8h | 0.4327 | 0.000% | $16.5M | $13.0M | 50x | as long as short |
Injective LDO/USDC PERP
Coinbase International LDO-PERP-INTX
dYdX LDO-USD
Deribit LDO_USDC-PERPETUAL
Paradex LDO-USD-PERP
Hyperliquid LDO
Aster LDOUSDT
Pacifica LDO
Binance LDOUSDT
Bybit LDOUSDTShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX LDO-USDT-SWAP | +0.0100% | 8h | 0.4327 | 0.000% | $4.1M | $9.1M | 50x | as long as short |
| Gate LDO_USDT | +0.0100% | 8h | 0.4327 | 0.000% | $1.4M | $1.1M | 50x | as long as short |
| MEXC LDO_USDT | +0.0100% | 8h | 0.4326 | −0.023% | $8.6M | $7.6M | 200x | as long as short |
| KuCoin LDOUSDTM | +0.0100% | 8h | 0.4326 | −0.023% | $2.8M | $4.3M | 50x | as long as short |
| Bitget LDOUSDT | +0.0100% | 8h | 0.4327 | 0.000% | $3.4M | $3.8M | 75x | as long as short |
| BingX LDO-USDT | +0.0100% | 8h | 0.4329 | +0.047% | — | $3.8M | — | as long as short |
| Backpack LDO_USDC_PERPshort | +0.0100% | 1h | 0.4324 | −0.069% | $85K | $180K | 10x | |
| Variational Omni LDO | +0.0100% | 8h | 0.4319 | −0.185% | $202K | $84K | — | as long as short |
| GRVT LDO_USDT_Perp | +0.0100% | 8h | 0.4334 | +0.159% | $306K | $3.5M | 10x | as long as short |
| ApeX Omni LDOUSDT | +0.0100% | 1h | 0.4330 | +0.070% | $35K | $649K | 50x | as long as short |
| Polymarket Perps LDO-USD | +0.0100% | 1h | 0.4331 | +0.093% | $23K | $736K | 5x | as long as short |
| SunX LDO-USDT | +0.0100% | 8h | 0.4427 | +2.311% | $2K | $1.5M | 20x | as long as short |
| Extended LDO-USD | +0.0104% | 1h | 0.4325 | −0.046% | $260K | $1.0M | 25x | as long as short |
| Aevo LDO-PERP | +0.0104% | 1h | 0.4326 | −0.023% | $38K | — | 3x | as long as short |
| BloFin LDO-USDT | +0.0128% | 8h | 0.4332 | +0.116% | $789K | $224K | 75x | as long as short |
| Lighter LDO | +0.0224% | 1h | 0.4335 | +0.183% | $879K | $268K | 10x | as long as short |
| Kraken Futures PF_LDOUSD | +0.0297% | 1h | 0.4327 | −0.004% | $1.1M | $552K | 50x | as long as short |
| GMX LDO/USD [ETH-USDC] | L +0.0319% / S −0.0201% | 1h | 0.4327 | −0.007% | $24K | — | 100x | as long as short |
| Reya LDORUSDPERPlong | +0.0334% | 1h | 0.4327 | long leg | $302K | — | 15x |
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
BloFin LDO-USDT
Lighter LDO
Kraken Futures PF_LDOUSD
GMX LDO/USD [ETH-USDC]