Funding you earn now, next payment 08:00 UTC−0.0120%/8h= −13.1% APRnext payment −$1.20 per $10,000 · paid last 24h −0.036%
Price spread now: OKX against BloFin−0.497%83s7-day average +0.009% · you buy dearer than you sell
Net, funding: paid 7d − costs−$67as 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−$430.427% of the position
Funding, last 7 days−0.240%−$24 on $10k
+Price spread, last 4 days (all we have)+0.510%+$51 · spread now −0.497%, 7d avg +0.009%
=Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and OKX is 0.506% cheaper against BloFin than usual: you would sell low and buy high (−$51 if the spread goes back to its 7-day average of +0.009%). Swap the legs. The two prices were read 83 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 | 0.000006032 | 0.0220 | pay 0.0220% / 8h | 39m 49s | $868K | $939K | 50x |
| Short | OKX SHIB-USDT-SWAP | 0.000006002 | 0.0100 | get 0.0100% / 8h | 39m 49s | $9.2M | $43.3M | 50x |
BloFin SHIB-USDT
OKX SHIB-USDT-SWAPFunding history
latest
Range statsloading…
Price spread between the two exchanges
OKX 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
- −$25.2
- Price spread: −0.497% → +0.009%
- −$50.61
- Slippage, 4 orders
- −$20.68
- Fee BloFin: 6 bp × 2 orders
- −$12
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- −$118.49
- Costs to cover
- 0.427%
- Break-even
- never at this rate
Slippage from BloFin: live order book, 42 min ago; OKX: 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 BloFin live order book, 42 min ago | 1.66 bp | 8.7 bp −$9 | 15.5 bp −$155 | doesn't fit | doesn't fit |
| Sell OKX live order book, 4 min ago | 0.83 bp | 10.3 bp −$10 | 25.0 bp −$250 | doesn't fit | doesn't fit |
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 | −0.0016% | 1h | 0.000006025 | −0.116% | $117K | $1.6M | 50x | as long as short |
| Kalshi KXKSHIBPERP | 0.0000% | 8h | 0.000006030 | −0.038% | $119K | $3.2M | 2x | as long as short |
| Deribit 1000SHIB_USDC-PERPETUAL | 0.0000% | 1h | 0.000006015 | −0.282% | $50K | $59K | 25x | as long as short |
| gTrade (Gains Network) SHIB/USD | L +0.0006% / S 0.0000% | 1h | 0.000006015 | −0.279% | $568 | — | 150x | as long as short |
| Injective SHIB/USDC PERP | +0.0033% | 1h | 0.000006040 | +0.133% | $248 | $134K | 5.5x | as long as short |
| BingX 1000SHIB-USDC | +0.0070% | 8h | 0.000006005 | −0.448% | — | $1.7M | — | as long as short |
| Lighter 1000SHIB | +0.0096% | 1h | 0.000006006 | −0.431% | $156K | $640K | 10x | as long as short |
| Aster 1000SHIBUSDT | +0.0100% | 8h | 0.000006013 | −0.316% | $41K | $329K | 50x | as long as short |
| Pacifica kSHIB | +0.0100% | 1h | 0.000006021 | −0.182% | $12K | $5K | 10x | as long as short |
| Binance 1000SHIBUSDT | +0.0100% | 8h | 0.000006010 | −0.370% | $30.4M | $127.5M | 75x | as long as short |
Coinbase International 1000SHIB-PERP-INTX
Kalshi KXKSHIBPERP
Deribit 1000SHIB_USDC-PERPETUAL
gTrade (Gains Network) SHIB/USD
Injective SHIB/USDC PERP
BingX 1000SHIB-USDC
Lighter 1000SHIB
Aster 1000SHIBUSDT
Pacifica kSHIB
Binance 1000SHIBUSDTShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX SHIB-USDT-SWAPshort | +0.0100% | 8h | 0.000006002 | −0.497% | $9.2M | $43.3M | 50x | |
| Gate SHIB_USDT | +0.0100% | 8h | 0.000006003 | −0.481% | $7.0M | $7.3M | 75x | as long as short |
| MEXC SHIB_USDT | +0.0100% | 8h | 0.000006009 | −0.381% | $28.1M | $19.9M | 300x | as long as short |
| KuCoin SHIBUSDTM | +0.0100% | 8h | 0.000006011 | −0.348% | $4.6M | $3.2M | 75x | as long as short |
| Bitget SHIBUSDT | +0.0100% | 8h | 0.000006000 | −0.531% | $11.3M | $17.1M | 75x | as long as short |
| Backpack kSHIB_USDC_PERP | +0.0100% | 1h | 0.000006010 | −0.365% | $23K | $8K | 15x | as long as short |
| Orderly PERP_1000SHIB_USDC | +0.0100% | 8h | 0.000006016 | −0.265% | $7K | $4K | 20x | as long as short |
| SunX SHIB-USDT | +0.0100% | 8h | 0.000006025 | −0.116% | $2K | $27K | 20x | as long as short |
| SoDEX 1000SHIB-USD | +0.0100% | 1h | 0.000006011 | −0.348% | $520 | $5K | 10x | as long as short |
| HTX SHIB-USDT | +0.0100% | 8h | 0.000006014 | −0.298% | $410K | $576K | 75x | as long as short |
| Phemex u1000SHIBUSDT | +0.0100% | 8h | 0.000006002 | −0.497% | $2.1M | $7.6M | 50x | as long as short |
| Paradex kSHIB-USD-PERP | +0.0104% | 8h | 0.000006021 | −0.174% | $7K | $13 | 20x | as long as short |
| Extended 1000SHIB-USD | +0.0104% | 1h | 0.000006006 | −0.437% | $53K | $4K | 25x | as long as short |
| Kraken Futures PF_SHIBUSD | +0.0200% | 1h | 0.000006007 | −0.408% | $1.2M | $1.0M | 50x | as long as short |
| GMX SHIB/USD [ETH-USDC] | L +0.0212% / S −0.2404% | 1h | 0.000006000 | −0.531% | $1K | — | 100x | as long as short |
| BloFin SHIB-USDTlong | +0.0220% | 8h | 0.000006032 | long leg | $868K | $939K | 50x | |
| Hyperliquid kSHIB | +0.0259% | 1h | 0.000006013 | −0.315% | $3.6M | $5.4M | 10x | as long as short |
| Reya kSHIBRUSDPERP | +0.0323% | 1h | 0.000006009 | −0.374% | $1 | — | 20x | as long as short |
| dYdX SHIB-USD | +0.2632% | 1h | 0.000006022 | −0.169% | $36K | $70K | 10x | as long as short |
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
Kraken Futures PF_SHIBUSD
GMX SHIB/USD [ETH-USDC]
Hyperliquid kSHIB
Reya kSHIBRUSDPERP
dYdX SHIB-USD