Funding arb · Price arb /

SHIB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0223%/8h= +24.4% APRpaid last 24h +0.067%

Price spread now: Reya against Bitget−0.037%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 Reya

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—+ Points / potential airdropReya: Active · farm boardneeds both histories

Funding pays, the price is against you. Reya is 0.037% cheaper against Bitget than usual: you would sell low and buy high (spread −0.037% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$4 on $10k: about 13 hours of funding at the current rate (+$7 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget SHIBUSDT	0.000005990	0.0100	pay 0.0100% / 8h	1h 37m	$11.4M	$17.4M	75x
Short	Reya kSHIBRUSDPERP	0.000005988	0.0323	get 0.0040% / 1h	37m 30s	$1	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now −0.037%Rate

Funding earned: $46.75
Price spread: −0.037% → 0.000%: −$3.66
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Reya: 3 bp × 2 orders: −$6
Net: $25.09
Costs to cover: 0.180%
Break-even: 3.2 days

Slippage unknown: Bitget: live order book, 1 min ago; Reya: 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	2.51 bp	11.4 bp −$11	18.9 bp −$189	54.8 bp −$5,483	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: 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	−0.0375%	1h	0.000005991	+0.010%	$1.1M	$1.0M	50x	as long as short
Coinbase International 1000SHIB-PERP-INTX	−0.0088%	1h	0.000006016	+0.434%	$117K	$1.6M	50x	as long as short
dYdX SHIB-USD	0.0000%	1h	0.000005991	+0.015%	$23K	$56K	10x	as long as short
Kalshi KXKSHIBPERP	0.0000%	8h	0.000005989	−0.022%	$105K	$3.3M	2x	as long as short
gTrade (Gains Network) SHIB/USD	L +0.0006% / S 0.0000%	1h	0.000005987	−0.057%	$565	—	150x	as long as short
Injective SHIB/USDC PERP	+0.0033%	1h	0.000006040	+0.835%	$248	$134K	5.5x	as long as short
BingX 1000SHIB-USDT	+0.0050%	8h	0.000005987	−0.050%	—	$2.3M	—	as long as short
Lighter 1000SHIB	+0.0096%	1h	0.000005991	+0.017%	$155K	$640K	10x	as long as short
Aster 1000SHIBUSDT	+0.0100%	8h	0.000005988	−0.037%	$41K	$336K	50x	as long as short
Pacifica kSHIB	+0.0100%	1h	0.000005990	0.000%	$12K	$5K	10x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance 1000SHIBUSDT	+0.0100%	8h	0.000005992	+0.037%	$30.0M	$127.8M	75x	as long as short
OKX SHIB-USDT-SWAP	+0.0100%	8h	0.000005989	−0.017%	$9.1M	$43.3M	50x	as long as short
Gate SHIB_USDT	+0.0100%	8h	0.000005985	−0.083%	$7.0M	$7.4M	75x	as long as short
MEXC SHIB_USDT	+0.0100%	8h	0.000005984	−0.100%	$28.0M	$19.6M	300x	as long as short
KuCoin SHIBUSDTM	+0.0100%	8h	0.000005987	−0.050%	$4.6M	$3.2M	75x	as long as short
Bitget SHIBUSDTlong	+0.0100%	8h	0.000005990	long leg	$11.4M	$17.4M	75x
Backpack kSHIB_USDC_PERP	+0.0100%	1h	0.000005993	+0.050%	$23K	$8K	15x	as long as short
Orderly PERP_1000SHIB_USDC	+0.0100%	8h	0.000005992	+0.033%	$7K	$4K	20x	as long as short
SunX SHIB-USDT	+0.0100%	8h	0.000006003	+0.217%	$2K	$27K	20x	as long as short
SoDEX 1000SHIB-USD	+0.0100%	1h	0.000005991	+0.017%	$503	$5K	10x	as long as short
HTX SHIB-USDT	+0.0100%	8h	0.000005992	+0.033%	$408K	$577K	75x	as long as short
Phemex u1000SHIBUSDT	+0.0100%	8h	0.000005993	+0.050%	$2.1M	$7.6M	50x	as long as short
Paradex kSHIB-USD-PERP	+0.0102%	8h	0.000005994	+0.064%	$7K	$13	20x	as long as short
Extended 1000SHIB-USD	+0.0104%	1h	0.000005988	−0.033%	$53K	$4K	25x	as long as short
Hyperliquid kSHIB	+0.0109%	1h	0.000005996	+0.100%	$3.6M	$5.4M	10x	as long as short
GMX SHIB/USD [ETH-USDC]	L +0.0212% / S −0.2404%	1h	0.000005000	−16.528%	$1K	—	100x	as long as short
BloFin SHIB-USDT	+0.0220%	8h	0.000005982	−0.134%	$871K	$926K	50x	as long as short
Reya kSHIBRUSDPERPshort	+0.0323%	1h	0.000005988	−0.037%	$1	—	20x
Deribit 1000SHIB_USDC-PERPETUAL	+0.0418%	1h	0.000005994	+0.067%	$47K	$65K	25x	as long as short