Funding arb · Price arb /

SHIB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.014%

Price spread now: MEXC against Deribit−0.100%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 MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.044%+$4 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. MEXC is 0.100% cheaper against Deribit than usual: you would sell low and buy high (spread −0.100% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$10 on $10k: about 3.3 days of funding at the current rate (+$3 a day). At the pace of the last 7 days (+0.044% in total) that is about 16 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit 1000SHIB_USDC-PERPETUAL	0.000005989	0	get 0.0000% / 1h	25m 17s	$42K	$61K	25x
Short	MEXC SHIB_USDT	0.000005983	0.0100	get 0.0100% / 8h	2h 25m	$31.9M	$15.7M	300x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.100%Rate

Funding earned: $21
Price spread: −0.100% → 0.000%: −$10.02
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee MEXC: 0 bp × 2 orders: $0
Net: $3.98
Costs to cover: 0.070%
Break-even: 5.7 days

Slippage unknown: Deribit: no order-book sample; MEXC: live order book, 4 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 MEXC live order book, 4 min ago	0.84 bp	5.3 bp −$5	10.3 bp −$103	55.0 bp −$5,497	85.6 bp −$42.8K

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	0.000005986	−0.052%	$52K	$1.7M	2x	as long as short
Deribit 1000SHIB_USDC-PERPETUALlong	0.0000%	1h	0.000005989	long leg	$42K	$61K	25x
gTrade (Gains Network) SHIB/USD	L +0.0006% / S −0.0001%	1h	0.000005987	−0.037%	$728	—	150x	as long as short
Coinbase International 1000SHIB-PERP-INTX	+0.0016%	1h	0.000005933	−0.935%	$89K	$752K	50x	as long as short
BingX 1000SHIB-USDT	+0.0026%	8h	0.000005988	−0.017%	—	$2.1M	—	as long as short
Kraken Futures PF_SHIBUSD	+0.0056%	1h	0.000005989	+0.001%	$1.1M	$763K	50x	as long as short
Lighter 1000SHIB	+0.0096%	1h	0.000005989	0.000%	$152K	$286K	10x	as long as short
Aster 1000SHIBUSDT	+0.0100%	8h	0.000005989	+0.004%	$35K	$179K	50x	as long as short
Pacifica kSHIB	+0.0100%	1h	0.000005989	0.000%	$12K	$4K	10x	as long as short
Binance 1000SHIBUSDT	+0.0100%	8h	0.000005985	−0.073%	$29.1M	$88.3M	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	0.000005984	−0.083%	$7.6M	$28.0M	50x	as long as short
Gate SHIB_USDT	+0.0100%	8h	0.000005984	−0.083%	$6.8M	$5.4M	75x	as long as short
MEXC SHIB_USDTshort	+0.0100%	8h	0.000005983	−0.100%	$31.9M	$15.7M	300x
KuCoin SHIBUSDTM	+0.0100%	8h	0.000005989	0.000%	$5.0M	$2.3M	75x	as long as short
Bitget SHIBUSDT	+0.0100%	8h	0.000005989	0.000%	$11.7M	$12.6M	75x	as long as short
Backpack kSHIB_USDC_PERP	+0.0100%	1h	0.000005991	+0.033%	$25K	$5K	15x	as long as short
Orderly PERP_1000SHIB_USDC	+0.0100%	8h	0.000005990	+0.017%	$7K	$4K	20x	as long as short
SunX SHIB-USDT	+0.0100%	8h	0.000005998	+0.150%	$2K	$23K	20x	as long as short
SoDEX 1000SHIB-USD	+0.0100%	1h	0.000005986	−0.050%	$546	$5K	10x	as long as short
HTX SHIB-USDT	+0.0100%	8h	0.000005983	−0.100%	$403K	$620K	75x	as long as short
Phemex u1000SHIBUSDT	+0.0100%	8h	0.000005982	−0.117%	$2.2M	$5.4M	50x	as long as short
Paradex kSHIB-USD-PERP	+0.0100%	8h	0.000005990	+0.023%	$7K	—	20x	as long as short
Extended 1000SHIB-USD	+0.0104%	1h	0.000005984	−0.084%	$53K	$4K	25x	as long as short
Injective SHIB/USDC PERP	+0.0187%	1h	0.000005964	−0.417%	$245	$67K	5.5x	as long as short
GMX SHIB/USD [ETH-USDC]	L +0.0213% / S −0.2404%	1h	0.000005000	−16.514%	$1K	—	100x	as long as short
BloFin SHIB-USDT	+0.0220%	8h	0.000005984	−0.083%	$707K	$991K	50x	as long as short
Reya kSHIBRUSDPERP	+0.0323%	1h	0.000005986	−0.056%	$1	—	20x	as long as short
Hyperliquid kSHIB	+0.0675%	1h	0.000005998	+0.150%	$4.3M	$3.7M	10x	as long as short
dYdX SHIB-USD	+0.8726%	1h	0.000005988	−0.022%	$23K	$64K	10x	as long as short