Funding arb · Price arb /

LDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0101%/8h= +11.1% APRpaid last 24h +0.013%

Price spread now: GMX against SunX−2.377%7-day average — · you buy dearer than you sell

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

Long on SunX 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 2.377% cheaper against SunX than usual: you would sell low and buy high (spread −2.377% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$238 on $10k: about 3 months of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX LDO-USDT	0.4386	0.0100	pay 0.0100% / 8h	6h 43m	$2K	$1.3M	20x
Short	GMX LDO/USD [ETH-USDC]	0.4282	L +0.0319% / S −0.0201%	get 0.0025% / 1h	43m 01s	$23K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against SunX. 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 SunXbpFee GMXbpOrdersPrice spread, now −2.377%Rate

Funding earned: $21.26
Price spread: −2.377% → 0.000%: −$237.73
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee GMX: 6 bp × 2 orders: −$12
Net: −$236.47
Costs to cover: 0.200%
Break-even: 84.8 days

Slippage unknown: SunX: live order book, 11 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 SunX live order book, 11 min ago	243.90 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
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	0.4278	−2.462%	$119K	$45K	50x	as long as short
dYdX LDO-USD	0.0000%	1h	0.4286	−2.273%	$83K	$17K	5x	as long as short
Deribit LDO_USDC-PERPETUAL	0.0000%	1h	0.4279	−2.440%	$7K	$20K	25x	as long as short
Injective LDO/USDC PERP	+0.0033%	1h	0.4110	−6.293%	$4K	$13	12x	as long as short
Lighter LDO	+0.0096%	1h	0.4291	−2.166%	$871K	$267K	10x	as long as short
Paradex LDO-USD-PERP	+0.0099%	8h	0.4283	−2.354%	$3K	—	20x	as long as short
Hyperliquid LDO	+0.0100%	1h	0.4277	−2.481%	$11.8M	$3.9M	5x	as long as short
Aster LDOUSDT	+0.0100%	8h	0.4283	−2.337%	$168K	$134K	10x	as long as short
Pacifica LDO	+0.0100%	1h	0.4288	−2.234%	$110K	$178K	10x	as long as short
Binance LDOUSDT	+0.0100%	8h	0.4270	−2.652%	$17.9M	$34.6M	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	0.4266	−2.736%	$16.1M	$11.2M	50x	as long as short
OKX LDO-USDT-SWAP	+0.0100%	8h	0.4265	−2.759%	$4.0M	$7.9M	50x	as long as short
Gate LDO_USDT	+0.0100%	8h	0.4278	−2.462%	$1.5M	$994K	50x	as long as short
MEXC LDO_USDT	+0.0100%	8h	0.4279	−2.440%	$7.7M	$7.2M	200x	as long as short
KuCoin LDOUSDTM	+0.0100%	8h	0.4281	−2.394%	$2.7M	$4.1M	50x	as long as short
Bitget LDOUSDT	+0.0100%	8h	0.4277	−2.485%	$3.3M	$3.4M	75x	as long as short
BingX LDO-USDT	+0.0100%	8h	0.4272	−2.599%	—	$10.0M	—	as long as short
Backpack LDO_USDC_PERP	+0.0100%	1h	0.4276	−2.497%	$88K	$153K	10x	as long as short
Variational Omni LDO	+0.0100%	8h	0.4274	−2.557%	$201K	$80K	—	as long as short
GRVT LDO_USDT_Perp	+0.0100%	8h	0.4277	−2.485%	$302K	$3.4M	10x	as long as short
ApeX Omni LDOUSDT	+0.0100%	1h	0.4280	−2.417%	$33K	$644K	50x	as long as short
Polymarket Perps LDO-USD	+0.0100%	1h	0.4284	−2.332%	$23K	$717K	5x	as long as short
SunX LDO-USDTlong	+0.0100%	8h	0.4386	long leg	$2K	$1.3M	20x
Extended LDO-USD	+0.0104%	1h	0.4276	−2.515%	$260K	$1.3M	25x	as long as short
Aevo LDO-PERP	+0.0104%	1h	0.4280	−2.417%	$38K	—	3x	as long as short
BloFin LDO-USDT	+0.0118%	8h	0.4300	−1.961%	$918K	$241K	75x	as long as short
GMX LDO/USD [ETH-USDC]short	L +0.0319% / S −0.0201%	1h	0.4282	−2.377%	$23K	—	100x
Reya LDORUSDPERP	+0.0337%	1h	0.4277	−2.476%	$298K	—	15x	as long as short
Kraken Futures PF_LDOUSD	+0.0562%	1h	0.4285	−2.307%	$1.2M	$793K	50x	as long as short