Funding arb · Price arb /

SHIB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.2304%/8h= +252.2% APRpaid last 24h +0.631%

Price spread now: GMX against Bitget0.000%54s7-day average — · you sell dearer than you buy

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

Long on Bitget 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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$69 a day on $10k at the current rate. The two prices were read 54 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	Bitget SHIBUSDT	0.000006000	0.0100	pay 0.0100% / 8h	1h 42m	$11.4M	$17.4M	75x
Short	GMX SHIB/USD [ETH-USDC]	0.000006000	L +0.0212% / S −0.2404%	get 0.0300% / 1h	42m 33s	$1K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now 0.000%Rate

Funding earned: $483.74
Price spread: 0.000% → 0.000%: $0
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: $459.74
Costs to cover: 0.240%
Break-even: 0.3 days

Slippage unknown: Bitget: live order book, 1 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 Bitget live order book, 1 min ago	1.66 bp	10.5 bp −$11	17.8 bp −$178	64.8 bp −$6,483	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.

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
Kraken Futures PF_SHIBUSD	−0.0374%	1h	0.000006008	+0.132%	$1.1M	$1.0M	50x	as long as short
Coinbase International 1000SHIB-PERP-INTX	−0.0088%	1h	0.000006016	+0.267%	$117K	$1.6M	50x	as long as short
dYdX SHIB-USD	0.0000%	1h	0.000006002	+0.033%	$23K	$56K	10x	as long as short
Kalshi KXKSHIBPERP	0.0000%	8h	0.000006011	+0.187%	$105K	$3.3M	2x	as long as short
Deribit 1000SHIB_USDC-PERPETUAL	0.0000%	1h	0.000006010	+0.167%	$47K	$65K	25x	as long as short
gTrade (Gains Network) SHIB/USD	L +0.0006% / S 0.0000%	1h	0.000006014	+0.230%	$568	—	150x	as long as short
Injective SHIB/USDC PERP	+0.0033%	1h	0.000006040	+0.667%	$248	$134K	5.5x	as long as short
BingX 1000SHIB-USDC	+0.0070%	8h	0.000006003	+0.050%	—	$1.6M	—	as long as short
Lighter 1000SHIB	+0.0096%	1h	0.000006004	+0.067%	$156K	$640K	10x	as long as short
Hyperliquid kSHIB	+0.0100%	1h	0.000006009	+0.150%	$3.6M	$5.3M	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	0.000006002	+0.042%	$41K	$336K	50x	as long as short
Pacifica kSHIB	+0.0100%	1h	0.000006003	+0.050%	$12K	$5K	10x	as long as short
Binance 1000SHIBUSDT	+0.0100%	8h	0.000006004	+0.066%	$30.1M	$127.7M	75x	as long as short
OKX SHIB-USDT-SWAP	+0.0100%	8h	0.000005998	−0.033%	$9.1M	$43.4M	50x	as long as short
Gate SHIB_USDT	+0.0100%	8h	0.000006000	0.000%	$7.0M	$7.4M	75x	as long as short
MEXC SHIB_USDT	+0.0100%	8h	0.000006000	0.000%	$28.1M	$19.6M	300x	as long as short
KuCoin SHIBUSDTM	+0.0100%	8h	0.000006000	0.000%	$4.6M	$3.2M	75x	as long as short
Bitget SHIBUSDTlong	+0.0100%	8h	0.000006000	long leg	$11.4M	$17.4M	75x
Backpack kSHIB_USDC_PERP	+0.0100%	1h	0.000006008	+0.133%	$23K	$8K	15x	as long as short
Orderly PERP_1000SHIB_USDC	+0.0100%	8h	0.000006014	+0.233%	$7K	$4K	20x	as long as short
SunX SHIB-USDT	+0.0100%	8h	0.000006024	+0.400%	$2K	$27K	20x	as long as short
SoDEX 1000SHIB-USD	+0.0100%	1h	0.000006009	+0.150%	$501	$5K	10x	as long as short
HTX SHIB-USDT	+0.0100%	8h	0.000006011	+0.183%	$409K	$581K	75x	as long as short
Phemex u1000SHIBUSDT	+0.0100%	8h	0.000006010	+0.167%	$2.1M	$7.6M	50x	as long as short
Paradex kSHIB-USD-PERP	+0.0101%	8h	0.000006007	+0.118%	$7K	$13	20x	as long as short
Extended 1000SHIB-USD	+0.0104%	1h	0.000005998	−0.039%	$53K	$4K	25x	as long as short
GMX SHIB/USD [ETH-USDC]short	L +0.0212% / S −0.2404%	1h	0.000006000	0.000%	$1K	—	100x
BloFin SHIB-USDT	+0.0220%	8h	0.000006008	+0.133%	$876K	$930K	50x	as long as short
Reya kSHIBRUSDPERP	+0.0323%	1h	0.000005997	−0.057%	$1	—	20x	as long as short