Funding arb · Price arb /

SHIB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0188%/8h= +20.6% APRpaid last 24h +0.032%

Price spread now: Aster against Coinbase International−0.125%7-day average +0.023% · you buy dearer than you sell

Net, funding: paid 7d − costs−$55as in the Funding arb table

Net, price: spread back to 7d avg − costs−$86as in the Price arb table

costs, in and out, $10k−$710.715% of the position

Long on Coinbase International Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days+0.169%+$17 on $10k

Price spread, last 4 days (all we have)+0.115%+$12 · spread now −0.125%, 7d avg +0.023%

Together, before fees+0.285%+ Points / potential airdropAster: Stage 5 · farm board+$28 on $10k · with fees, hour by hour

Funding pays, the price is against you. Aster is 0.148% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.125% now, against its 7-day average of +0.023%). If the spread goes back, that is −$15 on $10k: about 2.6 days of funding at the current rate (+$6 a day). At the pace of the last 7 days (+0.169% in total) that is about 6.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International 1000SHIB-PERP-INTX	0.000006016	−0.0088	get 0.0011% / 1h	43m 21s	$117K	$1.6M	50x
Short	Aster 1000SHIBUSDT	0.000006008	0.0100	get 0.0100% / 8h	1h 43m	$41K	$336K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Coinbase International. 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 Coinbase InternationalbpFee AsterbpOrdersPrice spread, now −0.125%Rate

Funding earned: $39.48
Price spread: −0.125% → +0.023%: −$14.85
Slippage, 4 orders: −$53.45
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$46.82
Costs to cover: 0.715%
Break-even: 15.3 days

Slippage from Coinbase International: live order book, 5 min ago; Aster: live order book, 64 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 Coinbase International live order book, 5 min ago	8.32 bp	14.9 bp −$15	22.4 bp −$224	doesn't fit	doesn't fit
Sell Aster live order book, 64 min ago	5.85 bp	23.6 bp −$24	329.3 bp −$3,293	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
Kraken Futures PF_SHIBUSD	−0.0374%	1h	0.000006008	−0.134%	$1.1M	$1.0M	50x	as long as short
Coinbase International 1000SHIB-PERP-INTXlong	−0.0088%	1h	0.000006016	long leg	$117K	$1.6M	50x
dYdX SHIB-USD	0.0000%	1h	0.000006008	−0.133%	$23K	$56K	10x	as long as short
Kalshi KXKSHIBPERP	0.0000%	8h	0.000006011	−0.080%	$105K	$3.3M	2x	as long as short
Deribit 1000SHIB_USDC-PERPETUAL	0.0000%	1h	0.000006010	−0.100%	$47K	$65K	25x	as long as short
gTrade (Gains Network) SHIB/USD	L +0.0006% / S 0.0000%	1h	0.000006014	−0.037%	$568	—	150x	as long as short
Injective SHIB/USDC PERP	+0.0033%	1h	0.000006040	+0.399%	$248	$134K	5.5x	as long as short
BingX 1000SHIB-USDC	+0.0070%	8h	0.000006012	−0.066%	—	$1.6M	—	as long as short
Lighter 1000SHIB	+0.0096%	1h	0.000006008	−0.133%	$156K	$640K	10x	as long as short
Hyperliquid kSHIB	+0.0100%	1h	0.000006020	+0.066%	$3.6M	$5.3M	10x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster 1000SHIBUSDTshort	+0.0100%	8h	0.000006008	−0.125%	$41K	$336K	50x
Pacifica kSHIB	+0.0100%	1h	0.000006009	−0.116%	$12K	$5K	10x	as long as short
Binance 1000SHIBUSDT	+0.0100%	8h	0.000006009	−0.116%	$30.1M	$127.7M	75x	as long as short
OKX SHIB-USDT-SWAP	+0.0100%	8h	0.000006004	−0.199%	$9.2M	$43.4M	50x	as long as short
Gate SHIB_USDT	+0.0100%	8h	0.000006011	−0.083%	$7.0M	$7.4M	75x	as long as short
MEXC SHIB_USDT	+0.0100%	8h	0.000006015	−0.017%	$28.2M	$19.6M	300x	as long as short
KuCoin SHIBUSDTM	+0.0100%	8h	0.000006012	−0.066%	$4.6M	$3.2M	75x	as long as short
Bitget SHIBUSDT	+0.0100%	8h	0.000006015	−0.017%	$11.4M	$17.4M	75x	as long as short
Backpack kSHIB_USDC_PERP	+0.0100%	1h	0.000006012	−0.066%	$23K	$8K	15x	as long as short
Orderly PERP_1000SHIB_USDC	+0.0100%	8h	0.000006014	−0.033%	$7K	$4K	20x	as long as short
SunX SHIB-USDT	+0.0100%	8h	0.000006024	+0.133%	$2K	$27K	20x	as long as short
SoDEX 1000SHIB-USD	+0.0100%	1h	0.000006009	−0.116%	$501	$5K	10x	as long as short
HTX SHIB-USDT	+0.0100%	8h	0.000006011	−0.083%	$409K	$581K	75x	as long as short
Phemex u1000SHIBUSDT	+0.0100%	8h	0.000006010	−0.100%	$2.1M	$7.6M	50x	as long as short
Paradex kSHIB-USD-PERP	+0.0101%	8h	0.000006013	−0.049%	$7K	$13	20x	as long as short
Extended 1000SHIB-USD	+0.0104%	1h	0.000006009	−0.109%	$53K	$4K	25x	as long as short
GMX SHIB/USD [ETH-USDC]	L +0.0212% / S −0.2404%	1h	0.000006000	−0.266%	$1K	—	100x	as long as short
BloFin SHIB-USDT	+0.0220%	8h	0.000006008	−0.133%	$876K	$930K	50x	as long as short
Reya kSHIBRUSDPERP	+0.0323%	1h	0.000006011	−0.082%	$1	—	20x	as long as short