SHIB

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0100%/8h= −10.9% APRnext payment −$0.13 per $10,000 · paid last 24h −0.012%

Price spread now: Deribit against Backpack+0.115%50s7-day average — · you sell dearer than you buy

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

Long on Backpack Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 6 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

The price spread pays, funding is against you. Deribit is 0.115% dearer against Backpack than usual: you sell high and buy low (spread +0.115% now, against zero (this spread has no 7-day history yet)): +$11 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 3.8 days. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack kSHIB_USDC_PERP	0.000006107	0.0100	pay 0.0013% / 1h	13m 14s	$23K	$7K	15x
Short	Deribit 1000SHIB_USDC-PERPETUAL	0.000006114	0	get 0.0000% / 1h	13m 14s	$51K	$61K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Backpack. 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 BackpackbpFee DeribitbpOrdersPrice spread, now +0.115%Rate

Funding earned: −$21
Price spread: +0.115% → 0.000%: $11.46
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$26.54
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Backpack: no order-book sample; Deribit: 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 Backpack no order-book sample	—	—	—	—	—
Sell Deribit no order-book sample	—	—	—	—	—

Backpack and Deribit: 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.

SHIB 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 1000SHIB-PERP-INTX	−0.0168%	1h	0.000006131	+0.393%	$123K	$1.5M	50x	as long as short
Kraken Futures PF_SHIBUSD	−0.0064%	1h	0.000006110	+0.057%	$1.2M	$1.0M	50x	as long as short
dYdX SHIB-USD	0.0000%	1h	0.000006109	+0.031%	$23K	$64K	10x	as long as short
Kalshi KXKSHIBPERP	0.0000%	8h	0.000006109	+0.025%	$190K	$2.9M	2x	as long as short
Deribit 1000SHIB_USDC-PERPETUALshort	0.0000%	1h	0.000006114	+0.115%	$51K	$61K	25x
gTrade (Gains Network) SHIB/USD	L +0.0006% / S 0.0000%	1h	0.000006115	+0.134%	$577	—	150x	as long as short
Injective SHIB/USDC PERP	+0.0033%	1h	0.000006040	−1.097%	$248	$134K	5.5x	as long as short
BingX 1000SHIB-USDT	+0.0070%	8h	0.000006116	+0.147%	—	$2.2M	—	as long as short
Lighter 1000SHIB	+0.0096%	1h	0.000006116	+0.147%	$161K	$627K	10x	as long as short
Hyperliquid kSHIB	+0.0100%	1h	0.000006127	+0.327%	$3.7M	$5.2M	10x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster 1000SHIBUSDT	+0.0100%	8h	0.000006119	+0.189%	$42K	$331K	50x	as long as short
Binance 1000SHIBUSDT	+0.0100%	8h	0.000006119	+0.196%	$31.3M	$118.0M	75x	as long as short
OKX SHIB-USDT-SWAP	+0.0100%	8h	0.000006110	+0.049%	$9.8M	$41.3M	50x	as long as short
Gate SHIB_USDT	+0.0100%	8h	0.000006112	+0.082%	$7.3M	$6.9M	75x	as long as short
MEXC SHIB_USDT	+0.0100%	8h	0.000006116	+0.147%	$30.0M	$18.9M	300x	as long as short
KuCoin SHIBUSDTM	+0.0100%	8h	0.000006118	+0.180%	$4.8M	$3.0M	75x	as long as short
Bitget SHIBUSDT	+0.0100%	8h	0.000006116	+0.147%	$11.7M	$16.3M	75x	as long as short
Backpack kSHIB_USDC_PERPlong	+0.0100%	1h	0.000006107	long leg	$23K	$7K	15x
Orderly PERP_1000SHIB_USDC	+0.0100%	8h	0.000006114	+0.115%	$7K	$4K	20x	as long as short
SunX SHIB-USDT	+0.0100%	8h	0.000006123	+0.262%	$2K	$26K	20x	as long as short
SoDEX 1000SHIB-USD	+0.0100%	1h	0.000006114	+0.115%	$508	$5K	10x	as long as short
HTX SHIB-USDT	+0.0100%	8h	0.000006115	+0.131%	$419K	$579K	75x	as long as short
Phemex u1000SHIBUSDT	+0.0100%	8h	0.000006110	+0.049%	$2.1M	$7.2M	50x	as long as short
Paradex kSHIB-USD-PERP	+0.0101%	8h	0.000006115	+0.134%	$7K	$13	20x	as long as short
Extended 1000SHIB-USD	+0.0104%	1h	0.000006108	+0.017%	$54K	$4K	25x	as long as short
Pacifica kSHIB	+0.0188%	1h	0.000006115	+0.131%	$12K	$5K	10x	as long as short
GMX SHIB/USD [ETH-USDC]	L +0.0213% / S −0.2404%	1h	0.000006000	−1.752%	$1K	—	100x	as long as short
BloFin SHIB-USDT	+0.0220%	8h	0.000006114	+0.115%	$947K	$915K	50x	as long as short
Reya kSHIBRUSDPERP	+0.0323%	1h	0.000006115	+0.123%	$1	—	20x	as long as short