Funding arb · Price arb /

SHIB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.014%

Price spread now: Binance against Deribit−0.044%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Deribit Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.001%$0 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Binance is 0.044% cheaper against Deribit than usual: you would sell low and buy high (spread −0.044% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$4 on $10k: about 36 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit 1000SHIB_USDC-PERPETUAL	0.000006068	0	get 0.0000% / 1h	11m 00s	$46K	$65K	25x
Short	Binance 1000SHIBUSDT	0.000006065	0.0100	get 0.0100% / 8h	1h 11m	$29.8M	$93.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Deribit. 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 DeribitbpFee BinancebpOrdersPrice spread, now −0.044%Rate

Funding earned: $21
Price spread: −0.044% → 0.000%: −$4.45
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Binance: 5 bp × 2 orders: −$10
Net: −$0.45
Costs to cover: 0.170%
Break-even: 7.1 days

Slippage unknown: Deribit: no order-book sample; Binance: live order book, 2 min ago. Net counts fees only.

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 Deribit no order-book sample	—	—	—	—	—
Sell Binance live order book, 2 min ago	0.82 bp	6.6 bp −$7	13.5 bp −$135	57.7 bp −$5,773	166.9 bp −$83.4K

Deribit: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	0.000006071	+0.049%	$23K	$64K	10x	as long as short
Kalshi KXKSHIBPERP	0.0000%	8h	0.000006070	+0.036%	$73K	$1.9M	2x	as long as short
Deribit 1000SHIB_USDC-PERPETUALlong	0.0000%	1h	0.000006068	long leg	$46K	$65K	25x
gTrade (Gains Network) SHIB/USD	L +0.0006% / S −0.0001%	1h	0.000006067	−0.020%	$738	—	150x	as long as short
Coinbase International 1000SHIB-PERP-INTX	+0.0008%	1h	0.000006070	+0.033%	$80K	$786K	50x	as long as short
BingX 1000SHIB-USDT	+0.0080%	8h	0.000006063	−0.082%	—	$2.1M	—	as long as short
Lighter 1000SHIB	+0.0096%	1h	0.000006066	−0.033%	$153K	$290K	10x	as long as short
Aster 1000SHIBUSDT	+0.0100%	8h	0.000006064	−0.068%	$35K	$175K	50x	as long as short
Pacifica kSHIB	+0.0100%	1h	0.000006072	+0.066%	$11K	$4K	10x	as long as short
Binance 1000SHIBUSDTshort	+0.0100%	8h	0.000006065	−0.044%	$29.8M	$93.9M	75x

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	0.000006067	−0.016%	$8.8M	$32.0M	50x	as long as short
Gate SHIB_USDT	+0.0100%	8h	0.000006064	−0.066%	$7.0M	$5.6M	75x	as long as short
MEXC SHIB_USDT	+0.0100%	8h	0.000006063	−0.082%	$30.7M	$16.2M	300x	as long as short
KuCoin SHIBUSDTM	+0.0100%	8h	0.000006064	−0.066%	$4.9M	$2.5M	75x	as long as short
Bitget SHIBUSDT	+0.0100%	8h	0.000006065	−0.049%	$11.6M	$13.1M	75x	as long as short
Backpack kSHIB_USDC_PERP	+0.0100%	1h	0.000006065	−0.049%	$25K	$6K	15x	as long as short
Orderly PERP_1000SHIB_USDC	+0.0100%	8h	0.000006064	−0.066%	$7K	$4K	20x	as long as short
SunX SHIB-USDT	+0.0100%	8h	0.000006078	+0.165%	$2K	$23K	20x	as long as short
SoDEX 1000SHIB-USD	+0.0100%	1h	0.000006066	−0.033%	$540	$5K	10x	as long as short
HTX SHIB-USDT	+0.0100%	8h	0.000006067	−0.016%	$414K	$618K	75x	as long as short
Phemex u1000SHIBUSDT	+0.0100%	8h	0.000006060	−0.132%	$2.1M	$5.8M	50x	as long as short
Paradex kSHIB-USD-PERP	+0.0103%	8h	0.000006069	+0.020%	$7K	—	20x	as long as short
Extended 1000SHIB-USD	+0.0104%	1h	0.000006064	−0.062%	$54K	$4K	25x	as long as short
Injective SHIB/USDC PERP	+0.0141%	1h	0.000006040	−0.461%	$248	$134K	5.5x	as long as short
GMX SHIB/USD [ETH-USDC]	L +0.0213% / S −0.2404%	1h	0.000006000	−1.121%	$1K	—	100x	as long as short
BloFin SHIB-USDT	+0.0220%	8h	0.000006064	−0.066%	$816K	$948K	50x	as long as short
Reya kSHIBRUSDPERP	+0.0323%	1h	0.000006065	−0.055%	$1	—	20x	as long as short
Kraken Futures PF_SHIBUSD	+0.0357%	1h	0.000006066	−0.034%	$1.2M	$799K	50x	as long as short
Hyperliquid kSHIB	+0.0793%	1h	0.000006074	+0.099%	$4.4M	$4.0M	10x	as long as short