Funding arb · Price arb /

SHIB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0013%/8h= +1.4% APRpaid last 24h +0.001%

Price spread now: Gate against Deribit−0.219%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 Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.020%+$2 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. Gate is 0.219% cheaper against Deribit than usual: you would sell low and buy high (spread −0.219% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$22 on $10k: about 56 days of funding at the current rate ($0 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit 1000SHIB_USDC-PERPETUAL	0.000005937	0.0087	pay 0.0011% / 1h	51m 33s	$42K	$61K	25x
Short	Gate SHIB_USDT	0.000005924	0.0100	get 0.0100% / 8h	2h 51m	$6.7M	$5.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Deribit. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 GatebpOrdersPrice spread, now −0.219%Rate

Funding earned: $2.73
Price spread: −0.219% → 0.000%: −$21.9
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$41.16
Costs to cover: 0.220%
Break-even: 112.4 days

Slippage unknown: Deribit: no order-book sample; Gate: 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 Gate live order book, 2 min ago	1.69 bp	15.6 bp −$16	25.3 bp −$253	doesn't fit	doesn't fit

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
Kalshi KXKSHIBPERP	0.0000%	8h	0.000005933	−0.066%	$50K	$1.6M	2x	as long as short
gTrade (Gains Network) SHIB/USD	L +0.0006% / S −0.0001%	1h	0.000005934	−0.045%	$722	—	150x	as long as short
Coinbase International 1000SHIB-PERP-INTX	+0.0016%	1h	0.000005933	−0.067%	$89K	$753K	50x	as long as short
Kraken Futures PF_SHIBUSD	+0.0056%	1h	0.000005936	−0.009%	$1.1M	$759K	50x	as long as short
BingX 1000SHIB-USDC	+0.0080%	8h	0.000005926	−0.185%	—	$1.6M	—	as long as short
Deribit 1000SHIB_USDC-PERPETUALlong	+0.0087%	1h	0.000005937	long leg	$42K	$61K	25x
Lighter 1000SHIB	+0.0096%	1h	0.000005931	−0.101%	$151K	$284K	10x	as long as short
Aster 1000SHIBUSDT	+0.0100%	8h	0.000005934	−0.052%	$35K	$179K	50x	as long as short
Pacifica kSHIB	+0.0100%	1h	0.000005930	−0.118%	$11K	$4K	10x	as long as short
Binance 1000SHIBUSDT	+0.0100%	8h	0.000005930	−0.118%	$28.9M	$87.8M	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	0.000005925	−0.202%	$7.6M	$27.7M	50x	as long as short
Gate SHIB_USDTshort	+0.0100%	8h	0.000005924	−0.219%	$6.7M	$5.4M	75x
MEXC SHIB_USDT	+0.0100%	8h	0.000005927	−0.168%	$31.8M	$15.5M	300x	as long as short
KuCoin SHIBUSDTM	+0.0100%	8h	0.000005927	−0.168%	$5.0M	$2.3M	75x	as long as short
Bitget SHIBUSDT	+0.0100%	8h	0.000005930	−0.118%	$11.6M	$12.5M	75x	as long as short
Backpack kSHIB_USDC_PERP	+0.0100%	1h	0.000005934	−0.051%	$25K	$5K	15x	as long as short
Orderly PERP_1000SHIB_USDC	+0.0100%	8h	0.000005935	−0.034%	$6K	$4K	20x	as long as short
SunX SHIB-USDT	+0.0100%	8h	0.000005947	+0.168%	$2K	$23K	20x	as long as short
SoDEX 1000SHIB-USD	+0.0100%	1h	0.000005935	−0.034%	$540	$5K	10x	as long as short
HTX SHIB-USDT	+0.0100%	8h	0.000005932	−0.084%	$399K	$623K	75x	as long as short
Phemex u1000SHIBUSDT	+0.0100%	8h	0.000005934	−0.051%	$2.1M	$5.3M	50x	as long as short
Paradex kSHIB-USD-PERP	+0.0100%	8h	0.000005930	−0.114%	$7K	—	20x	as long as short
Extended 1000SHIB-USD	+0.0104%	1h	0.000005925	−0.207%	$53K	$4K	25x	as long as short
Injective SHIB/USDC PERP	+0.0187%	1h	0.000005964	+0.455%	$245	$67K	5.5x	as long as short
GMX SHIB/USD [ETH-USDC]	L +0.0213% / S −0.2404%	1h	0.000005000	−15.782%	$1K	—	100x	as long as short
BloFin SHIB-USDT	+0.0220%	8h	0.000005937	0.000%	$712K	$1.0M	50x	as long as short
Reya kSHIBRUSDPERP	+0.0323%	1h	0.000005931	−0.099%	$1	—	20x	as long as short
Hyperliquid kSHIB	+0.0597%	1h	0.000005942	+0.084%	$4.3M	$3.7M	10x	as long as short
dYdX SHIB-USD	+0.9145%	1h	0.000005931	−0.103%	$23K	$64K	10x	as long as short