Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.002%
Price spread now: Orderly against Backpack+0.034%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 5 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 between these two exchanges is close to zero, so right now this pair is about the price spread alone: Orderly is 0.034% dearer against Backpack than usual: you sell high and buy low, +$3 on $10k if it goes back to zero (this spread has no 7-day history yet).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack kSHIB_USDC_PERP | 0.000005968 | 0.0100 | pay 0.0013% / 1h | 14m 26s | $23K | $8K | 15x |
| Short | Orderly PERP_1000SHIB_USDC | 0.000005970 | 0.0100 | get 0.0100% / 8h | 14m 26s | $6K | $4K | 20x |
Backpack kSHIB_USDC_PERP
Orderly PERP_1000SHIB_USDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Orderly against Backpack. 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
- $0
- Price spread: +0.034% → 0.000%
- $3.35
- Slippage, 4 orders
- no order book: not counted
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Orderly: 3 bp × 2 orders
- −$6
- Net
- −$12.65
- Costs to cover
- 0.160%
- Break-even
- never at this rate
Slippage unknown: Backpack: no order-book sample; Orderly: 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 Orderly no order-book sample | — | — | — | — | — |
Backpack and Orderly: 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 | −0.0016% | 1h | 0.000005961 | −0.117% | $116K | $1.6M | 50x | as long as short |
| Kalshi KXKSHIBPERP | 0.0000% | 8h | 0.000005961 | −0.116% | $126K | $3.2M | 2x | as long as short |
| Deribit 1000SHIB_USDC-PERPETUAL | 0.0000% | 1h | 0.000005967 | −0.017% | $50K | $59K | 25x | as long as short |
| gTrade (Gains Network) SHIB/USD | L +0.0006% / S 0.0000% | 1h | 0.000005964 | −0.062% | $563 | — | 150x | as long as short |
| Injective SHIB/USDC PERP | +0.0033% | 1h | 0.000006040 | +1.206% | $248 | $134K | 5.5x | as long as short |
| BingX 1000SHIB-USDT | +0.0070% | 8h | 0.000005970 | +0.034% | — | $2.3M | — | as long as short |
| Lighter 1000SHIB | +0.0096% | 1h | 0.000005973 | +0.084% | $155K | $644K | 10x | as long as short |
| Aster 1000SHIBUSDT | +0.0100% | 8h | 0.000005973 | +0.086% | $41K | $301K | 50x | as long as short |
| Pacifica kSHIB | +0.0100% | 1h | 0.000005972 | +0.067% | $12K | $6K | 10x | as long as short |
| Binance 1000SHIBUSDT | +0.0100% | 8h | 0.000005970 | +0.036% | $30.3M | $128.2M | 75x | as long as short |
Coinbase International 1000SHIB-PERP-INTX
Kalshi KXKSHIBPERP
Deribit 1000SHIB_USDC-PERPETUAL
gTrade (Gains Network) SHIB/USD
Injective SHIB/USDC PERP
BingX 1000SHIB-USDT
Lighter 1000SHIB
Aster 1000SHIBUSDT
Pacifica kSHIB
Binance 1000SHIBUSDTShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX SHIB-USDT-SWAP | +0.0100% | 8h | 0.000005965 | −0.050% | $8.8M | $44.0M | 50x | as long as short |
| Gate SHIB_USDT | +0.0100% | 8h | 0.000005966 | −0.034% | $7.0M | $7.3M | 75x | as long as short |
| MEXC SHIB_USDT | +0.0100% | 8h | 0.000005967 | −0.017% | $28.6M | $20.2M | 300x | as long as short |
| KuCoin SHIBUSDTM | +0.0100% | 8h | 0.000005969 | +0.017% | $4.7M | $3.2M | 75x | as long as short |
| Bitget SHIBUSDT | +0.0100% | 8h | 0.000005969 | +0.017% | $11.3M | $17.3M | 75x | as long as short |
| Backpack kSHIB_USDC_PERPlong | +0.0100% | 1h | 0.000005968 | long leg | $23K | $8K | 15x | |
| Orderly PERP_1000SHIB_USDCshort | +0.0100% | 8h | 0.000005970 | +0.034% | $6K | $4K | 20x | |
| SunX SHIB-USDT | +0.0100% | 8h | 0.000005980 | +0.201% | $2K | $27K | 20x | as long as short |
| SoDEX 1000SHIB-USD | +0.0100% | 1h | 0.000005966 | −0.034% | $508 | $5K | 10x | as long as short |
| HTX SHIB-USDT | +0.0100% | 8h | 0.000005962 | −0.101% | $406K | $576K | 75x | as long as short |
| Phemex u1000SHIBUSDT | +0.0100% | 8h | 0.000005970 | +0.034% | $2.1M | $7.7M | 50x | as long as short |
| Paradex kSHIB-USD-PERP | +0.0103% | 8h | 0.000005977 | +0.154% | $7K | $13 | 20x | as long as short |
| Extended 1000SHIB-USD | +0.0104% | 1h | 0.000005963 | −0.082% | $53K | $4K | 25x | as long as short |
| Kraken Futures PF_SHIBUSD | +0.0201% | 1h | 0.000005964 | −0.070% | $1.2M | $1.0M | 50x | as long as short |
| GMX SHIB/USD [ETH-USDC] | L +0.0212% / S −0.2404% | 1h | 0.000005000 | −16.220% | $1K | — | 100x | as long as short |
| BloFin SHIB-USDT | +0.0220% | 8h | 0.000005965 | −0.050% | $843K | $930K | 50x | as long as short |
| Hyperliquid kSHIB | +0.0227% | 1h | 0.000005974 | +0.101% | $3.6M | $5.5M | 10x | as long as short |
| Reya kSHIBRUSDPERP | +0.0323% | 1h | 0.000005957 | −0.182% | $1 | — | 20x | as long as short |
| dYdX SHIB-USD | +0.5369% | 1h | 0.000005969 | +0.015% | $35K | $70K | 10x | as long as short |
OKX SHIB-USDT-SWAP
Gate SHIB_USDT
MEXC SHIB_USDT
KuCoin SHIBUSDTM
Bitget SHIBUSDT
SunX SHIB-USDT
SoDEX 1000SHIB-USD
HTX SHIB-USDT
Phemex u1000SHIBUSDT
Paradex kSHIB-USD-PERP
Extended 1000SHIB-USD
Kraken Futures PF_SHIBUSD
GMX SHIB/USD [ETH-USDC]
BloFin SHIB-USDT
Hyperliquid kSHIB
Reya kSHIBRUSDPERP
dYdX SHIB-USD