Funding you earn now, next payment 22:00 UTC+0.0768%/8h= +84.0% APRnext payment +$0.96 per $10,000 · paid last 24h +0.063%
Price spread now: Hyperliquid against Coinbase International+0.297%7-day average +0.127% · you sell dearer than you buy
Net, funding: paid 7d − costs−$25as in the Funding arb table
Net, price: spread back to 7d avg − costs−$29as in the Price arb table
costs, in and out, $10k−$450.455% of the position
Funding, last 7 days+0.207%+$21 on $10k
+Price spread, last 3 days (all we have)−0.085%−$8 · spread now +0.297%, 7d avg +0.127%
=Together, before fees+0.122%+ Points / potential airdropHyperliquid: Season 2 · farm board+$12 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$23 a day on $10k at the current rate, and Hyperliquid is 0.169% dearer against Coinbase International than usual: you sell high and buy low: +$17 more if the spread goes back to its 7-day average of +0.127%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.207% in total (about 10.8% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.96 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Coinbase International 1000SHIB-PERP-INTX | 0.000006062 | 0.0008 | pay 0.0001% / 1h | 0m 11s | $80K | $787K | 50x |
| Short | Hyperliquid kSHIB | 0.000006080 | 0.0776 | get 0.0097% / 1h | 0m 11s | $4.4M | $4.0M | 10x |
Coinbase International 1000SHIB-PERP-INTX
Hyperliquid kSHIBFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $161.19
- Price spread: +0.297% → +0.127%
- $16.95
- Slippage, 4 orders
- −$26.5
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- $132.64
- Costs to cover
- 0.455%
- Break-even
- 1.2 days
Slippage from Coinbase International: live order book, 18 min ago; Hyperliquid: live order book, 2 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, 18 min ago | 6.59 bp | 13.2 bp −$13 | 19.6 bp −$196 | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 2 min ago | 0.82 bp | 10.0 bp −$10 | 19.1 bp −$191 | 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 | 0.000006069 | +0.117% | $23K | $64K | 10x | as long as short |
| Kalshi KXKSHIBPERP | 0.0000% | 8h | 0.000006069 | +0.124% | $73K | $1.9M | 2x | as long as short |
| gTrade (Gains Network) SHIB/USD | L +0.0006% / S −0.0001% | 1h | 0.000006069 | +0.114% | $738 | — | 150x | as long as short |
| Coinbase International 1000SHIB-PERP-INTXlong | +0.0008% | 1h | 0.000006062 | long leg | $80K | $787K | 50x | |
| Deribit 1000SHIB_USDC-PERPETUAL | +0.0080% | 1h | 0.000006070 | +0.132% | $46K | $65K | 25x | as long as short |
| BingX 1000SHIB-USDT | +0.0080% | 8h | 0.000006068 | +0.099% | — | $2.1M | — | as long as short |
| Lighter 1000SHIB | +0.0096% | 1h | 0.000006070 | +0.132% | $153K | $290K | 10x | as long as short |
| Aster 1000SHIBUSDT | +0.0100% | 8h | 0.000006069 | +0.109% | $35K | $175K | 50x | as long as short |
| Pacifica kSHIB | +0.0100% | 1h | 0.000006068 | +0.099% | $12K | $4K | 10x | as long as short |
| Binance 1000SHIBUSDT | +0.0100% | 8h | 0.000006070 | +0.132% | $29.9M | $94.0M | 75x | as long as short |
dYdX SHIB-USD
Kalshi KXKSHIBPERP
gTrade (Gains Network) SHIB/USD
Deribit 1000SHIB_USDC-PERPETUAL
BingX 1000SHIB-USDT
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 | 0.000006068 | +0.099% | $8.8M | $32.1M | 50x | as long as short |
| Gate SHIB_USDT | +0.0100% | 8h | 0.000006065 | +0.049% | $7.0M | $5.6M | 75x | as long as short |
| MEXC SHIB_USDT | +0.0100% | 8h | 0.000006069 | +0.115% | $30.5M | $16.3M | 300x | as long as short |
| KuCoin SHIBUSDTM | +0.0100% | 8h | 0.000006066 | +0.066% | $4.9M | $2.5M | 75x | as long as short |
| Bitget SHIBUSDT | +0.0100% | 8h | 0.000006070 | +0.132% | $11.6M | $13.2M | 75x | as long as short |
| Backpack kSHIB_USDC_PERP | +0.0100% | 1h | 0.000006071 | +0.148% | $25K | $6K | 15x | as long as short |
| Orderly PERP_1000SHIB_USDC | +0.0100% | 8h | 0.000006069 | +0.115% | $7K | $4K | 20x | as long as short |
| SunX SHIB-USDT | +0.0100% | 8h | 0.000006078 | +0.264% | $2K | $23K | 20x | as long as short |
| SoDEX 1000SHIB-USD | +0.0100% | 1h | 0.000006069 | +0.115% | $541 | $5K | 10x | as long as short |
| HTX SHIB-USDT | +0.0100% | 8h | 0.000006067 | +0.082% | $414K | $613K | 75x | as long as short |
| Phemex u1000SHIBUSDT | +0.0100% | 8h | 0.000006071 | +0.148% | $2.1M | $5.8M | 50x | as long as short |
| Paradex kSHIB-USD-PERP | +0.0102% | 8h | 0.000006068 | +0.092% | $7K | — | 20x | as long as short |
| Extended 1000SHIB-USD | +0.0104% | 1h | 0.000006067 | +0.087% | $54K | $4K | 25x | as long as short |
| Injective SHIB/USDC PERP | +0.0141% | 1h | 0.000006040 | −0.363% | $248 | $134K | 5.5x | as long as short |
| GMX SHIB/USD [ETH-USDC] | L +0.0213% / S −0.2404% | 1h | 0.000006000 | −1.023% | $1K | — | 100x | as long as short |
| BloFin SHIB-USDT | +0.0220% | 8h | 0.000006061 | −0.016% | $820K | $947K | 50x | as long as short |
| Reya kSHIBRUSDPERP | +0.0323% | 1h | 0.000006070 | +0.126% | $1 | — | 20x | as long as short |
| Kraken Futures PF_SHIBUSD | +0.0357% | 1h | 0.000006070 | +0.131% | $1.2M | $804K | 50x | as long as short |
| Hyperliquid kSHIBshort | +0.0776% | 1h | 0.000006080 | +0.297% | $4.4M | $4.0M | 10x |
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
Injective SHIB/USDC PERP
GMX SHIB/USD [ETH-USDC]
BloFin SHIB-USDT
Reya kSHIBRUSDPERP
Kraken Futures PF_SHIBUSD