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: Phemex against BloFin+0.313%59s7-day average +0.052% · you sell dearer than you buy
Net, funding: paid 7d − costs−$86as 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−$620.624% of the position
Funding, last 7 days−0.235%−$24 on $10k
+Price spread, last 3 days (all we have)−0.262%−$26 · spread now +0.313%, 7d avg +0.052%
=The price spread pays, funding is against you. Phemex is 0.261% dearer against BloFin than usual: you sell high and buy low (spread +0.313% now, against its 7-day average of +0.052%): +$26 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 7.2 days. The two prices were read 59 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 | 0.000006063 | 0.0220 | pay 0.0220% / 8h | 7h 37m | $812K | $940K | 50x |
| Short | Phemex u1000SHIBUSDT | 0.000006082 | 0.0100 | get 0.0100% / 8h | 7h 37m | $2.2M | $6.3M | 50x |
BloFin SHIB-USDT
Phemex u1000SHIBUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex 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: +0.313% → +0.052%
- $26.1
- Slippage, 4 orders
- −$38.38
- Fee BloFin: 6 bp × 2 orders
- −$12
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$61.48
- Costs to cover
- 0.624%
- Break-even
- never at this rate
Slippage from BloFin: live order book, 49 min ago; Phemex: live order book, 6 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, 49 min ago | 1.66 bp | 9.3 bp −$9 | 18.0 bp −$180 | doesn't fit | doesn't fit |
| Sell Phemex live order book, 6 min ago | 8.28 bp | 19.3 bp −$19 | 54.1 bp −$541 | 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 | |
|---|---|---|---|---|---|---|---|---|
| dYdX SHIB-USD | 0.0000% | 1h | 0.000006079 | +0.264% | $23K | $64K | 10x | as long as short |
| Kalshi KXKSHIBPERP | 0.0000% | 8h | 0.000006091 | +0.462% | $103K | $2.0M | 2x | as long as short |
| gTrade (Gains Network) SHIB/USD | L +0.0006% / S −0.0001% | 1h | 0.000006084 | +0.353% | $740 | — | 150x | as long as short |
| Injective SHIB/USDC PERP | +0.0033% | 1h | 0.000006040 | −0.379% | $248 | $134K | 5.5x | as long as short |
| Coinbase International 1000SHIB-PERP-INTX | +0.0064% | 1h | 0.000006085 | +0.363% | $77K | $811K | 50x | as long as short |
| BingX 1000SHIB-USDC | +0.0080% | 8h | 0.000006086 | +0.379% | — | $1.6M | — | as long as short |
| Lighter 1000SHIB | +0.0096% | 1h | 0.000006091 | +0.462% | $219K | $437K | 10x | as long as short |
| Aster 1000SHIBUSDT | +0.0100% | 8h | 0.000006084 | +0.339% | $37K | $180K | 50x | as long as short |
| Pacifica kSHIB | +0.0100% | 1h | 0.000006085 | +0.363% | $12K | $4K | 10x | as long as short |
| Binance 1000SHIBUSDT | +0.0100% | 8h | 0.000006088 | +0.414% | $29.7M | $97.6M | 75x | as long as short |
dYdX SHIB-USD
Kalshi KXKSHIBPERP
gTrade (Gains Network) SHIB/USD
Injective SHIB/USDC PERP
Coinbase International 1000SHIB-PERP-INTX
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-SWAP | +0.0100% | 8h | 0.000006091 | +0.462% | $9.3M | $34.3M | 50x | as long as short |
| Gate SHIB_USDT | +0.0100% | 8h | 0.000006085 | +0.363% | $7.0M | $5.5M | 75x | as long as short |
| MEXC SHIB_USDT | +0.0100% | 8h | 0.000006086 | +0.379% | $31.5M | $16.8M | 300x | as long as short |
| KuCoin SHIBUSDTM | +0.0100% | 8h | 0.000006086 | +0.379% | $5.0M | $2.6M | 75x | as long as short |
| Bitget SHIBUSDT | +0.0100% | 8h | 0.000006087 | +0.396% | $11.5M | $13.7M | 75x | as long as short |
| Orderly PERP_1000SHIB_USDC | +0.0100% | 8h | 0.000006089 | +0.429% | $7K | $4K | 20x | as long as short |
| SunX SHIB-USDT | +0.0100% | 8h | 0.000006098 | +0.577% | $2K | $24K | 20x | as long as short |
| SoDEX 1000SHIB-USD | +0.0100% | 1h | 0.000006089 | +0.429% | $562 | $5K | 10x | as long as short |
| HTX SHIB-USDT | +0.0100% | 8h | 0.000006088 | +0.412% | $416K | $594K | 75x | as long as short |
| Phemex u1000SHIBUSDTshort | +0.0100% | 8h | 0.000006082 | +0.313% | $2.2M | $6.3M | 50x | |
| Extended 1000SHIB-USD | +0.0104% | 1h | 0.000006088 | +0.412% | $54K | $4K | 25x | as long as short |
| Paradex kSHIB-USD-PERP | +0.0111% | 8h | 0.000006083 | +0.327% | $7K | — | 20x | as long as short |
| Backpack kSHIB_USDC_PERP | +0.0197% | 1h | 0.000006089 | +0.429% | $25K | $6K | 15x | as long as short |
| GMX SHIB/USD [ETH-USDC] | L +0.0213% / S −0.2404% | 1h | 0.000006000 | −1.039% | $1K | — | 100x | as long as short |
| BloFin SHIB-USDTlong | +0.0220% | 8h | 0.000006063 | long leg | $812K | $940K | 50x | |
| Deribit 1000SHIB_USDC-PERPETUAL | +0.0243% | 1h | 0.000006090 | +0.445% | $47K | $65K | 25x | as long as short |
| Kraken Futures PF_SHIBUSD | +0.0258% | 1h | 0.000006090 | +0.453% | $1.2M | $821K | 50x | as long as short |
| Reya kSHIBRUSDPERP | +0.0323% | 1h | 0.000006088 | +0.414% | $1 | — | 20x | as long as short |
| Hyperliquid kSHIB | +0.0661% | 1h | 0.000006098 | +0.577% | $4.4M | $4.0M | 10x | as long as short |
OKX SHIB-USDT-SWAP
Gate SHIB_USDT
MEXC SHIB_USDT
KuCoin SHIBUSDTM
Bitget SHIBUSDT
Orderly PERP_1000SHIB_USDC
SunX SHIB-USDT
SoDEX 1000SHIB-USD
HTX SHIB-USDT
Extended 1000SHIB-USD
Paradex kSHIB-USD-PERP
Backpack kSHIB_USDC_PERP
GMX SHIB/USD [ETH-USDC]
Deribit 1000SHIB_USDC-PERPETUAL
Kraken Futures PF_SHIBUSD
Reya kSHIBRUSDPERP
Hyperliquid kSHIB