Funding you earn now, next payment 08:00 UTC−0.0150%/8h= −16.4% APRnext payment −$1.50 per $10,000 · paid last 24h −0.042%
Price spread now: BingX against BloFin−0.328%96s7-day average +0.003% · you buy dearer than you sell
Net, funding: paid 7d − costs−$90as 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−$540.538% of the position
Funding, last 7 days−0.364%−$36 on $10k
+Price spread, last 4 days (all we have)+0.268%+$27 · spread now −0.328%, 7d avg +0.003%
=Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and BingX is 0.331% cheaper against BloFin than usual: you would sell low and buy high (−$33 if the spread goes back to its 7-day average of +0.003%). Swap the legs. The two prices were read 96 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 | BloFin SHIB-USDT | 0.000006090 | 0.0220 | pay 0.0220% / 8h | 3h 09m | $949K | $911K | 50x |
| Short | BingX 1000SHIB-USDC | 0.000006070 | 0.0070 | get 0.0070% / 8h | 3h 09m | — | $1.6M | — |
BloFin SHIB-USDT
BingX 1000SHIB-USDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
BingX against BloFin. 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: −0.328% → +0.003%
- −$33.1
- Slippage, 4 orders
- −$31.76
- Fee BloFin: 6 bp × 2 orders
- −$12
- Fee BingX: 5 bp × 2 orders
- −$10
- Net
- −$118.36
- Costs to cover
- 0.538%
- Break-even
- never at this rate
Slippage from BloFin: live order book, 22 min ago; BingX: live order book, 7 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 BloFin live order book, 22 min ago | 0.81 bp | 9.1 bp −$9 | 15.8 bp −$158 | 98.7 bp −$9,874 | doesn't fit |
| Sell BingX live order book, 7 min ago | 2.45 bp | 15.2 bp −$15 | 41.5 bp −$415 | 199.6 bp −$20.0K | 967.9 bp −$484.0K |
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 | +0.673% | $123K | $1.5M | 50x | as long as short |
| Kraken Futures PF_SHIBUSD | −0.0064% | 1h | 0.000006081 | −0.149% | $1.2M | $1.0M | 50x | as long as short |
| dYdX SHIB-USD | 0.0000% | 1h | 0.000006077 | −0.215% | $23K | $64K | 10x | as long as short |
| Kalshi KXKSHIBPERP | 0.0000% | 8h | 0.000006097 | +0.120% | $191K | $2.9M | 2x | as long as short |
| Deribit 1000SHIB_USDC-PERPETUAL | 0.0000% | 1h | 0.000006086 | −0.066% | $50K | $61K | 25x | as long as short |
| gTrade (Gains Network) SHIB/USD | L +0.0006% / S 0.0000% | 1h | 0.000006084 | −0.107% | $574 | — | 150x | as long as short |
| Injective SHIB/USDC PERP | +0.0033% | 1h | 0.000006040 | −0.821% | $248 | $134K | 5.5x | as long as short |
| BingX 1000SHIB-USDCshort | +0.0070% | 8h | 0.000006070 | −0.328% | — | $1.6M | — | |
| Lighter 1000SHIB | +0.0096% | 1h | 0.000006080 | −0.164% | $160K | $628K | 10x | as long as short |
| Hyperliquid kSHIB | +0.0100% | 1h | 0.000006087 | −0.049% | $3.6M | $5.2M | 10x | as long as short |
Coinbase International 1000SHIB-PERP-INTX
Kraken Futures PF_SHIBUSD
dYdX SHIB-USD
Kalshi KXKSHIBPERP
Deribit 1000SHIB_USDC-PERPETUAL
gTrade (Gains Network) SHIB/USD
Injective SHIB/USDC PERP
Lighter 1000SHIB
Hyperliquid kSHIBShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster 1000SHIBUSDT | +0.0100% | 8h | 0.000006079 | −0.187% | $42K | $331K | 50x | as long as short |
| Binance 1000SHIBUSDT | +0.0100% | 8h | 0.000006077 | −0.221% | $31.0M | $118.5M | 75x | as long as short |
| OKX SHIB-USDT-SWAP | +0.0100% | 8h | 0.000006065 | −0.411% | $9.7M | $41.1M | 50x | as long as short |
| Gate SHIB_USDT | +0.0100% | 8h | 0.000006073 | −0.279% | $7.2M | $6.9M | 75x | as long as short |
| MEXC SHIB_USDT | +0.0100% | 8h | 0.000006079 | −0.181% | $29.8M | $19.0M | 300x | as long as short |
| KuCoin SHIBUSDTM | +0.0100% | 8h | 0.000006076 | −0.230% | $4.7M | $3.0M | 75x | as long as short |
| Bitget SHIBUSDT | +0.0100% | 8h | 0.000006073 | −0.279% | $11.7M | $16.4M | 75x | as long as short |
| Backpack kSHIB_USDC_PERP | +0.0100% | 1h | 0.000006080 | −0.164% | $23K | $7K | 15x | as long as short |
| Orderly PERP_1000SHIB_USDC | +0.0100% | 8h | 0.000006084 | −0.099% | $7K | $4K | 20x | as long as short |
| SunX SHIB-USDT | +0.0100% | 8h | 0.000006094 | +0.066% | $2K | $26K | 20x | as long as short |
| SoDEX 1000SHIB-USD | +0.0100% | 1h | 0.000006085 | −0.082% | $507 | $5K | 10x | as long as short |
| HTX SHIB-USDT | +0.0100% | 8h | 0.000006087 | −0.049% | $417K | $579K | 75x | as long as short |
| Phemex u1000SHIBUSDT | +0.0100% | 8h | 0.000006080 | −0.164% | $2.1M | $7.2M | 50x | as long as short |
| Paradex kSHIB-USD-PERP | +0.0101% | 8h | 0.000006077 | −0.216% | $7K | $13 | 20x | as long as short |
| Extended 1000SHIB-USD | +0.0104% | 1h | 0.000006068 | −0.355% | $54K | $4K | 25x | as long as short |
| Pacifica kSHIB | +0.0188% | 1h | 0.000006079 | −0.181% | $12K | $5K | 10x | as long as short |
| GMX SHIB/USD [ETH-USDC] | L +0.0213% / S −0.2404% | 1h | 0.000006000 | −1.478% | $1K | — | 100x | as long as short |
| BloFin SHIB-USDTlong | +0.0220% | 8h | 0.000006090 | long leg | $949K | $911K | 50x | |
| Reya kSHIBRUSDPERP | +0.0323% | 1h | 0.000006082 | −0.133% | $1 | — | 20x | as long as short |
Aster 1000SHIBUSDT
Binance 1000SHIBUSDT
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
Pacifica kSHIB
GMX SHIB/USD [ETH-USDC]
Reya kSHIBRUSDPERP