Funding you earn now, next payment 04:00 UTC−0.0100%/8h= −10.9% APRnext payment −$1.00 per $10,000 · paid last 24h −0.030%
Price spread now: Kalshi against Bitget+0.328%55s7-day average −0.035% · you sell dearer than you buy
Net, funding: paid 7d − costs−$59as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$490.495% of the position
Funding, last 7 days−0.097%−$10 on $10k
+Price spread, last 4 days (all we have)+0.132%+$13 · spread now +0.328%, 7d avg −0.035%
=The price spread pays, funding is against you. Kalshi is 0.363% dearer against Bitget than usual: you sell high and buy low (spread +0.328% now, against its 7-day average of −0.035%): +$36 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 12 days. At the pace of the last 7 days (−0.097% in total) that is about 26 days. The two prices were read 55 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 | 0.000006014 | 0.0100 | pay 0.0100% / 8h | 6h 24m | $11.3M | $14.2M | 75x |
| Short | Kalshi KXKSHIBPERP | 0.000006034 | 0 | get 0.0000% / 8h | 2h 24m | $192K | $2.3M | 2x |
Bitget SHIBUSDT
Kalshi KXKSHIBPERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kalshi against Bitget. 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
- −$21
- Price spread: +0.328% → −0.035%
- $36.3
- Slippage, 4 orders
- −$27.45
- Fee Bitget: 6 bp × 2 orders
- −$12
- Fee Kalshi: 5 bp × 2 orders
- −$10
- Net
- −$34.15
- Costs to cover
- 0.495%
- Break-even
- never at this rate
Slippage from Bitget: live order book, 4 min ago; Kalshi: live order book, 4 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 Bitget live order book, 4 min ago | 1.66 bp | 10.0 bp −$10 | 17.5 bp −$175 | 49.5 bp −$4,951 | doesn't fit |
| Sell Kalshi live order book, 4 min ago | 8.45 bp | 14.3 bp −$14 | 19.1 bp −$191 | doesn't fit | doesn't fit |
SHIB on 28 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 | |
|---|---|---|---|---|---|---|---|---|
| dYdX SHIB-USD | 0.0000% | 1h | 0.000006021 | +0.116% | $23K | $64K | 10x | as long as short |
| Kalshi KXKSHIBPERPshort | 0.0000% | 8h | 0.000006034 | +0.328% | $192K | $2.3M | 2x | |
| gTrade (Gains Network) SHIB/USD | L +0.0006% / S −0.0001% | 1h | 0.000006011 | −0.050% | $731 | — | 150x | as long as short |
| Injective SHIB/USDC PERP | +0.0033% | 1h | 0.000006040 | +0.432% | $248 | $134K | 5.5x | as long as short |
| Coinbase International 1000SHIB-PERP-INTX | +0.0072% | 1h | 0.000006027 | +0.216% | $136K | $1.1M | 50x | as long as short |
| BingX 1000SHIB-USDT | +0.0080% | 8h | 0.000006015 | +0.017% | — | $2.1M | — | as long as short |
| Deribit 1000SHIB_USDC-PERPETUAL | +0.0082% | 1h | 0.000006030 | +0.266% | $46K | $64K | 25x | as long as short |
| Lighter 1000SHIB | +0.0096% | 1h | 0.000006020 | +0.100% | $163K | $610K | 10x | as long as short |
| Hyperliquid kSHIB | +0.0100% | 1h | 0.000006016 | +0.033% | $3.7M | $4.7M | 10x | as long as short |
| Aster 1000SHIBUSDT | +0.0100% | 8h | 0.000006009 | −0.086% | $40K | $184K | 50x | as long as short |
dYdX SHIB-USD
gTrade (Gains Network) SHIB/USD
Injective SHIB/USDC PERP
Coinbase International 1000SHIB-PERP-INTX
BingX 1000SHIB-USDT
Deribit 1000SHIB_USDC-PERPETUAL
Lighter 1000SHIB
Hyperliquid kSHIB
Aster 1000SHIBUSDTShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance 1000SHIBUSDT | +0.0100% | 8h | 0.000006017 | +0.053% | $29.4M | $101.6M | 75x | as long as short |
| OKX SHIB-USDT-SWAP | +0.0100% | 8h | 0.000006017 | +0.050% | $9.3M | $36.1M | 50x | as long as short |
| Gate SHIB_USDT | +0.0100% | 8h | 0.000006009 | −0.083% | $6.9M | $5.7M | 75x | as long as short |
| MEXC SHIB_USDT | +0.0100% | 8h | 0.000006016 | +0.033% | $30.4M | $17.5M | 300x | as long as short |
| KuCoin SHIBUSDTM | +0.0100% | 8h | 0.000006010 | −0.067% | $4.9M | $2.7M | 75x | as long as short |
| Bitget SHIBUSDTlong | +0.0100% | 8h | 0.000006014 | long leg | $11.3M | $14.2M | 75x | |
| Backpack kSHIB_USDC_PERP | +0.0100% | 1h | 0.000006026 | +0.200% | $23K | $7K | 15x | as long as short |
| Orderly PERP_1000SHIB_USDC | +0.0100% | 8h | 0.000006014 | 0.000% | $7K | $4K | 20x | as long as short |
| SunX SHIB-USDT | +0.0100% | 8h | 0.000006037 | +0.382% | $2K | $24K | 20x | as long as short |
| SoDEX 1000SHIB-USD | +0.0100% | 1h | 0.000006031 | +0.283% | $524 | $5K | 10x | as long as short |
| HTX SHIB-USDT | +0.0100% | 8h | 0.000006024 | +0.166% | $412K | $594K | 75x | as long as short |
| Phemex u1000SHIBUSDT | +0.0100% | 8h | 0.000006020 | +0.100% | $2.1M | $6.6M | 50x | as long as short |
| Extended 1000SHIB-USD | +0.0104% | 1h | 0.000006011 | −0.056% | $53K | $4K | 25x | as long as short |
| Paradex kSHIB-USD-PERP | +0.0119% | 8h | 0.000006011 | −0.048% | $7K | $13 | 20x | as long as short |
| Pacifica kSHIB | +0.0183% | 1h | 0.000006020 | +0.100% | $12K | $4K | 10x | as long as short |
| GMX SHIB/USD [ETH-USDC] | L +0.0213% / S −0.2404% | 1h | 0.000006000 | −0.233% | $1K | — | 100x | as long as short |
| Reya kSHIBRUSDPERP | +0.0323% | 1h | 0.000006013 | −0.020% | $1 | — | 20x | as long as short |
| Kraken Futures PF_SHIBUSD | +0.0756% | 1h | 0.000006025 | +0.189% | $1.1M | $863K | 50x | as long as short |
Binance 1000SHIBUSDT
OKX SHIB-USDT-SWAP
Gate SHIB_USDT
MEXC SHIB_USDT
KuCoin SHIBUSDTM
Backpack kSHIB_USDC_PERP
Orderly PERP_1000SHIB_USDC
SunX SHIB-USDT
SoDEX 1000SHIB-USD
HTX SHIB-USDT
Phemex u1000SHIBUSDT
Extended 1000SHIB-USD
Paradex kSHIB-USD-PERP
Pacifica kSHIB
GMX SHIB/USD [ETH-USDC]
Reya kSHIBRUSDPERP
Kraken Futures PF_SHIBUSD