Funding you earn now, next payment 00:00 UTC−0.0150%/8h= −16.4% APRnext payment −$1.50 per $10,000 · paid last 24h −0.020%
Price spread now: BingX against Binance−0.085%7-day average −0.031% · you buy dearer than you sell
Net, funding: paid 7d − costs−$40as in the Funding arb table
Net, price: spread back to 7d avg − costs−$38as in the Price arb table
costs, in and out, $10k−$320.323% of the position
Funding, last 7 days−0.077%−$8 on $10k
+Price spread, last 7 days+0.076%+$8 · spread now −0.085%, 7d avg −0.031%
=Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and BingX is 0.054% cheaper against Binance than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.031%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance 1000SHIBUSDT | 0.000005940 | 0.0100 | pay 0.0100% / 8h | 2h 47m | $28.9M | $87.7M | 75x |
| Short | BingX 1000SHIB-USDT | 0.000005935 | −0.0050 | pay 0.0050% / 8h | 2h 47m | — | $2.1M | — |
Binance 1000SHIBUSDT
BingX 1000SHIB-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BingX against Binance. 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
- −$31.5
- Price spread: −0.085% → −0.031%
- −$5.41
- Slippage, 4 orders
- −$12.33
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee BingX: 5 bp × 2 orders
- −$10
- Net
- −$69.24
- Costs to cover
- 0.323%
- Break-even
- never at this rate
Slippage from Binance: live order book, 10 min ago; BingX: live order book, 1 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 Binance live order book, 10 min ago | 0.84 bp | 8.2 bp −$8 | 13.9 bp −$139 | 66.7 bp −$6,672 | 199.3 bp −$99.7K |
| Sell BingX live order book, 1 min ago | 1.68 bp | 10.2 bp −$10 | 21.2 bp −$212 | 64.0 bp −$6,402 | 124.3 bp −$62.1K |
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 | |
|---|---|---|---|---|---|---|---|---|
| BingX 1000SHIB-USDTshort | −0.0050% | 8h | 0.000005935 | −0.085% | — | $2.1M | — | |
| Kalshi KXKSHIBPERP | 0.0000% | 8h | 0.000005936 | −0.075% | $50K | $1.6M | 2x | as long as short |
| gTrade (Gains Network) SHIB/USD | L +0.0006% / S −0.0001% | 1h | 0.000005937 | −0.052% | $722 | — | 150x | as long as short |
| Coinbase International 1000SHIB-PERP-INTX | +0.0016% | 1h | 0.000005933 | −0.119% | $89K | $753K | 50x | as long as short |
| Kraken Futures PF_SHIBUSD | +0.0056% | 1h | 0.000005938 | −0.043% | $1.1M | $758K | 50x | as long as short |
| Deribit 1000SHIB_USDC-PERPETUAL | +0.0087% | 1h | 0.000005938 | −0.035% | $42K | $61K | 25x | as long as short |
| Lighter 1000SHIB | +0.0096% | 1h | 0.000005937 | −0.052% | $151K | $285K | 10x | as long as short |
| Aster 1000SHIBUSDT | +0.0100% | 8h | 0.000005936 | −0.065% | $35K | $179K | 50x | as long as short |
| Pacifica kSHIB | +0.0100% | 1h | 0.000005936 | −0.069% | $11K | $4K | 10x | as long as short |
| Binance 1000SHIBUSDTlong | +0.0100% | 8h | 0.000005940 | long leg | $28.9M | $87.7M | 75x |
Kalshi KXKSHIBPERP
gTrade (Gains Network) SHIB/USD
Coinbase International 1000SHIB-PERP-INTX
Kraken Futures PF_SHIBUSD
Deribit 1000SHIB_USDC-PERPETUAL
Lighter 1000SHIB
Aster 1000SHIBUSDT
Pacifica kSHIBShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX SHIB-USDT-SWAP | +0.0100% | 8h | 0.000005936 | −0.069% | $7.6M | $27.7M | 50x | as long as short |
| Gate SHIB_USDT | +0.0100% | 8h | 0.000005933 | −0.119% | $6.7M | $5.4M | 75x | as long as short |
| MEXC SHIB_USDT | +0.0100% | 8h | 0.000005934 | −0.102% | $31.8M | $15.5M | 300x | as long as short |
| KuCoin SHIBUSDTM | +0.0100% | 8h | 0.000005935 | −0.085% | $5.0M | $2.3M | 75x | as long as short |
| Bitget SHIBUSDT | +0.0100% | 8h | 0.000005937 | −0.052% | $11.6M | $12.5M | 75x | as long as short |
| Backpack kSHIB_USDC_PERP | +0.0100% | 1h | 0.000005938 | −0.035% | $25K | $5K | 15x | as long as short |
| Orderly PERP_1000SHIB_USDC | +0.0100% | 8h | 0.000005939 | −0.018% | $6K | $4K | 20x | as long as short |
| SunX SHIB-USDT | +0.0100% | 8h | 0.000005949 | +0.150% | $2K | $23K | 20x | as long as short |
| SoDEX 1000SHIB-USD | +0.0100% | 1h | 0.000005936 | −0.069% | $542 | $5K | 10x | as long as short |
| HTX SHIB-USDT | +0.0100% | 8h | 0.000005942 | +0.032% | $400K | $623K | 75x | as long as short |
| Phemex u1000SHIBUSDT | +0.0100% | 8h | 0.000005933 | −0.119% | $2.1M | $5.3M | 50x | as long as short |
| Paradex kSHIB-USD-PERP | +0.0100% | 8h | 0.000005940 | −0.001% | $7K | — | 20x | as long as short |
| Extended 1000SHIB-USD | +0.0104% | 1h | 0.000005936 | −0.073% | $53K | $4K | 25x | as long as short |
| Injective SHIB/USDC PERP | +0.0187% | 1h | 0.000005964 | +0.403% | $245 | $67K | 5.5x | as long as short |
| GMX SHIB/USD [ETH-USDC] | L +0.0213% / S −0.2404% | 1h | 0.000005000 | −15.826% | $1K | — | 100x | as long as short |
| BloFin SHIB-USDT | +0.0220% | 8h | 0.000005934 | −0.102% | $715K | $1.0M | 50x | as long as short |
| Reya kSHIBRUSDPERP | +0.0323% | 1h | 0.000005938 | −0.032% | $1 | — | 20x | as long as short |
| Hyperliquid kSHIB | +0.0593% | 1h | 0.000005946 | +0.100% | $4.3M | $3.7M | 10x | as long as short |
| dYdX SHIB-USD | +0.9279% | 1h | 0.000005938 | −0.035% | $23K | $64K | 10x | as long as short |
OKX SHIB-USDT-SWAP
Gate SHIB_USDT
MEXC SHIB_USDT
KuCoin SHIBUSDTM
Bitget SHIBUSDT
Backpack kSHIB_USDC_PERP
Orderly PERP_1000SHIB_USDC
SunX SHIB-USDT
SoDEX 1000SHIB-USD
HTX SHIB-USDT
Phemex u1000SHIBUSDT
Paradex kSHIB-USD-PERP
Extended 1000SHIB-USD
Injective SHIB/USDC PERP
GMX SHIB/USD [ETH-USDC]
BloFin SHIB-USDT
Reya kSHIBRUSDPERP
Hyperliquid kSHIB
dYdX SHIB-USD