Funding arb · Price arb /

SHIB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h +0.824%

Price spread now: dYdX against Bitget−0.001%7-day average — · you buy dearer than you sell

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

Long on Bitget Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+1.479%+$148 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$3 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +1.479%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget SHIBUSDT	0.000006096	0.0100	pay 0.0100% / 8h	3h 11m	$11.7M	$16.3M	75x
Short	dYdX SHIB-USD	0.000006096	0	get 0.0000% / 1h	11m 31s	$23K	$64K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against Bitget. 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 BitgetbpFee dYdXbpOrdersPrice spread, now −0.001%Rate

Funding earned: −$21
Price spread: −0.001% → 0.000%: −$0.06
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$43.06
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Bitget: live order book, 2 min ago; dYdX: 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 Bitget live order book, 2 min ago	0.82 bp	9.8 bp −$10	17.6 bp −$176	63.6 bp −$6,357	doesn't fit
Sell dYdX no order-book sample	—	—	—	—	—

dYdX: 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	+0.574%	$123K	$1.5M	50x	as long as short
Kraken Futures PF_SHIBUSD	−0.0064%	1h	0.000006088	−0.137%	$1.2M	$1.0M	50x	as long as short
dYdX SHIB-USDshort	0.0000%	1h	0.000006096	−0.001%	$23K	$64K	10x
Kalshi KXKSHIBPERP	0.0000%	8h	0.000006092	−0.062%	$191K	$2.9M	2x	as long as short
Deribit 1000SHIB_USDC-PERPETUAL	0.0000%	1h	0.000006092	−0.066%	$50K	$61K	25x	as long as short
gTrade (Gains Network) SHIB/USD	L +0.0006% / S 0.0000%	1h	0.000006089	−0.112%	$575	—	150x	as long as short
Injective SHIB/USDC PERP	+0.0033%	1h	0.000006040	−0.919%	$248	$134K	5.5x	as long as short
BingX 1000SHIB-USDC	+0.0070%	8h	0.000006095	−0.016%	—	$1.6M	—	as long as short
Lighter 1000SHIB	+0.0096%	1h	0.000006103	+0.115%	$160K	$628K	10x	as long as short
Hyperliquid kSHIB	+0.0100%	1h	0.000006112	+0.262%	$3.6M	$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	0.000006098	+0.035%	$42K	$331K	50x	as long as short
Binance 1000SHIBUSDT	+0.0100%	8h	0.000006098	+0.040%	$31.2M	$118.2M	75x	as long as short
OKX SHIB-USDT-SWAP	+0.0100%	8h	0.000006092	−0.066%	$9.8M	$41.2M	50x	as long as short
Gate SHIB_USDT	+0.0100%	8h	0.000006092	−0.066%	$7.2M	$6.9M	75x	as long as short
MEXC SHIB_USDT	+0.0100%	8h	0.000006092	−0.066%	$29.9M	$19.0M	300x	as long as short
KuCoin SHIBUSDTM	+0.0100%	8h	0.000006097	+0.016%	$4.7M	$3.0M	75x	as long as short
Bitget SHIBUSDTlong	+0.0100%	8h	0.000006096	long leg	$11.7M	$16.3M	75x
Backpack kSHIB_USDC_PERP	+0.0100%	1h	0.000006091	−0.082%	$23K	$7K	15x	as long as short
Orderly PERP_1000SHIB_USDC	+0.0100%	8h	0.000006090	−0.098%	$7K	$4K	20x	as long as short
SunX SHIB-USDT	+0.0100%	8h	0.000006102	+0.098%	$2K	$26K	20x	as long as short
SoDEX 1000SHIB-USD	+0.0100%	1h	0.000006093	−0.049%	$510	$5K	10x	as long as short
HTX SHIB-USDT	+0.0100%	8h	0.000006092	−0.066%	$417K	$579K	75x	as long as short
Phemex u1000SHIBUSDT	+0.0100%	8h	0.000006090	−0.098%	$2.1M	$7.2M	50x	as long as short
Paradex kSHIB-USD-PERP	+0.0101%	8h	0.000006095	−0.012%	$7K	$13	20x	as long as short
Extended 1000SHIB-USD	+0.0104%	1h	0.000006092	−0.062%	$54K	$4K	25x	as long as short
Pacifica kSHIB	+0.0188%	1h	0.000006098	+0.033%	$12K	$5K	10x	as long as short
GMX SHIB/USD [ETH-USDC]	L +0.0213% / S −0.2404%	1h	0.000006000	−1.575%	$1K	—	100x	as long as short
BloFin SHIB-USDT	+0.0220%	8h	0.000006114	+0.295%	$947K	$915K	50x	as long as short
Reya kSHIBRUSDPERP	+0.0323%	1h	0.000006093	−0.053%	$1	—	20x	as long as short