SHIB

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0122%/8h= +13.3% APRnext payment +$0.15 per $10,000 · paid last 24h +0.011%

Price spread now: Kraken Futures against Coinbase International−0.138%7-day average 0.000% · you buy dearer than you sell

Net, funding: paid 7d − costs−$72as in the Funding arb table

Net, price: spread back to 7d avg − costs−$89as in the Price arb table

costs, in and out, $10k−$750.753% of the position

Long on Coinbase International Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.036%+$4 on $10k

Price spread, last 4 days (all we have)+0.261%+$26 · spread now −0.138%, 7d avg 0.000%

Together, before fees+0.298%+$30 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.138% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.138% now, against its 7-day average of 0.000%). If the spread goes back, that is −$14 on $10k: about 3.8 days of funding at the current rate (+$4 a day). At the pace of the last 7 days (+0.036% in total) that is about 26 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International 1000SHIB-PERP-INTX	0.000006115	−0.0024	get 0.0003% / 1h	3m 25s	$132K	$1.7M	50x
Short	Kraken Futures PF_SHIBUSD	0.000006107	0.0098	get 0.0012% / 1h	3m 25s	$1.2M	$1.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.138%Rate

Funding earned: $25.55
Price spread: −0.138% → 0.000%: −$13.76
Slippage, 4 orders: −$55.3
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$63.51
Costs to cover: 0.753%
Break-even: 24.4 days

Slippage from Coinbase International: live order book, 5 min ago; Kraken Futures: live order book, 5 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	13.22 bp	18.2 bp −$18	22.8 bp −$228	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 5 min ago	2.48 bp	22.6 bp −$23	30.7 bp −$307	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-INTXlong	−0.0024%	1h	0.000006115	long leg	$132K	$1.7M	50x
Kalshi KXKSHIBPERP	0.0000%	8h	0.000006103	−0.204%	$120K	$3.5M	2x	as long as short
gTrade (Gains Network) SHIB/USD	L +0.0006% / S 0.0000%	1h	0.000006102	−0.217%	$576	—	150x	as long as short
BingX 1000SHIB-USDT	+0.0023%	8h	0.000006106	−0.147%	—	$2.2M	—	as long as short
Injective SHIB/USDC PERP	+0.0033%	1h	0.000006040	−1.226%	$248	$134K	5.5x	as long as short
Lighter 1000SHIB	+0.0096%	1h	0.000006108	−0.114%	$157K	$648K	10x	as long as short
Kraken Futures PF_SHIBUSDshort	+0.0098%	1h	0.000006107	−0.138%	$1.2M	$1.0M	50x
Aster 1000SHIBUSDT	+0.0100%	8h	0.000006116	+0.011%	$42K	$295K	50x	as long as short
Pacifica kSHIB	+0.0100%	1h	0.000006108	−0.114%	$12K	$6K	10x	as long as short
Binance 1000SHIBUSDT	+0.0100%	8h	0.000006114	−0.022%	$31.1M	$129.8M	75x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX SHIB-USDT-SWAP	+0.0100%	8h	0.000006111	−0.065%	$9.9M	$47.0M	50x	as long as short
Gate SHIB_USDT	+0.0100%	8h	0.000006105	−0.164%	$7.2M	$7.2M	75x	as long as short
MEXC SHIB_USDT	+0.0100%	8h	0.000006109	−0.098%	$28.0M	$20.6M	300x	as long as short
KuCoin SHIBUSDTM	+0.0100%	8h	0.000006111	−0.065%	$4.7M	$3.2M	75x	as long as short
Bitget SHIBUSDT	+0.0100%	8h	0.000006112	−0.049%	$11.5M	$17.7M	75x	as long as short
Backpack kSHIB_USDC_PERP	+0.0100%	1h	0.000006106	−0.147%	$24K	$9K	15x	as long as short
Orderly PERP_1000SHIB_USDC	+0.0100%	8h	0.000006105	−0.164%	$7K	$4K	20x	as long as short
SunX SHIB-USDT	+0.0100%	8h	0.000006119	+0.065%	$2K	$26K	20x	as long as short
SoDEX 1000SHIB-USD	+0.0100%	1h	0.000006107	−0.131%	$513	$5K	10x	as long as short
HTX SHIB-USDT	+0.0100%	8h	0.000006111	−0.065%	$419K	$540K	75x	as long as short
Phemex u1000SHIBUSDT	+0.0100%	8h	0.000006100	−0.245%	$2.1M	$7.8M	50x	as long as short
Paradex kSHIB-USD-PERP	+0.0101%	8h	0.000006109	−0.101%	$7K	$13	20x	as long as short
Extended 1000SHIB-USD	+0.0104%	1h	0.000006108	−0.116%	$54K	$4K	25x	as long as short
Hyperliquid kSHIB	+0.0129%	1h	0.000006119	+0.065%	$3.7M	$5.4M	10x	as long as short
GMX SHIB/USD [ETH-USDC]	L +0.0212% / S −0.2404%	1h	0.000006000	−1.881%	$1K	—	100x	as long as short
BloFin SHIB-USDT	+0.0220%	8h	0.000006074	−0.670%	$912K	$939K	50x	as long as short
Reya kSHIBRUSDPERP	+0.0323%	1h	0.000006112	−0.053%	$1	—	20x	as long as short
Deribit 1000SHIB_USDC-PERPETUAL	+0.0405%	1h	0.000006110	−0.082%	$49K	$53K	25x	as long as short
dYdX SHIB-USD	+0.7174%	1h	0.000006108	−0.114%	$32K	$75K	10x	as long as short