Funding arb · Price arb /

SHIB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0019%/8h= +2.0% APRpaid last 24h +0.010%

Price spread now: Paradex against Deribit−0.051%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 Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Funding pays, the price is against you. Paradex is 0.051% cheaper against Deribit than usual: you would sell low and buy high (spread −0.051% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 9.2 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit 1000SHIB_USDC-PERPETUAL	0.000005991	0.0084	pay 0.0010% / 1h	33m 04s	$47K	$65K	25x
Short	Paradex kSHIB-USD-PERP	0.000005988	0.0103	get 0.0103% / 8h	1h 33m	$7K	$13	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now −0.051%Rate

Funding earned: $3.91
Price spread: −0.051% → 0.000%: −$5.12
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$12.22
Costs to cover: 0.110%
Break-even: 28.9 days

Slippage unknown: Deribit: no order-book sample; Paradex: no order-book sample. 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 Paradex no order-book sample	—	—	—	—	—

Deribit and Paradex: 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
Kraken Futures PF_SHIBUSD	−0.0375%	1h	0.000005992	+0.022%	$1.1M	$1.1M	50x	as long as short
Coinbase International 1000SHIB-PERP-INTX	−0.0088%	1h	0.000006016	+0.417%	$117K	$1.6M	50x	as long as short
dYdX SHIB-USD	0.0000%	1h	0.000005979	−0.201%	$23K	$56K	10x	as long as short
Kalshi KXKSHIBPERP	0.0000%	8h	0.000005986	−0.085%	$105K	$3.3M	2x	as long as short
gTrade (Gains Network) SHIB/USD	L +0.0006% / S 0.0000%	1h	0.000005989	−0.040%	$565	—	150x	as long as short
Injective SHIB/USDC PERP	+0.0033%	1h	0.000006040	+0.818%	$248	$134K	5.5x	as long as short
BingX 1000SHIB-USDT	+0.0050%	8h	0.000005990	−0.017%	—	$2.3M	—	as long as short
Deribit 1000SHIB_USDC-PERPETUALlong	+0.0084%	1h	0.000005991	long leg	$47K	$65K	25x
Lighter 1000SHIB	+0.0096%	1h	0.000005995	+0.067%	$155K	$640K	10x	as long as short
Aster 1000SHIBUSDT	+0.0100%	8h	0.000005990	−0.019%	$41K	$336K	50x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica kSHIB	+0.0100%	1h	0.000005986	−0.083%	$12K	$5K	10x	as long as short
Binance 1000SHIBUSDT	+0.0100%	8h	0.000005994	+0.058%	$30.0M	$128.0M	75x	as long as short
OKX SHIB-USDT-SWAP	+0.0100%	8h	0.000005989	−0.033%	$9.1M	$43.3M	50x	as long as short
Gate SHIB_USDT	+0.0100%	8h	0.000005987	−0.067%	$7.0M	$7.4M	75x	as long as short
MEXC SHIB_USDT	+0.0100%	8h	0.000005989	−0.033%	$28.0M	$19.6M	300x	as long as short
KuCoin SHIBUSDTM	+0.0100%	8h	0.000005992	+0.017%	$4.6M	$3.2M	75x	as long as short
Bitget SHIBUSDT	+0.0100%	8h	0.000005991	0.000%	$11.3M	$17.4M	75x	as long as short
Backpack kSHIB_USDC_PERP	+0.0100%	1h	0.000005993	+0.033%	$23K	$8K	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	0.000006000	+0.150%	$2K	$27K	20x	as long as short
SoDEX 1000SHIB-USD	+0.0100%	1h	0.000005991	0.000%	$504	$5K	10x	as long as short
HTX SHIB-USDT	+0.0100%	8h	0.000005990	−0.017%	$407K	$577K	75x	as long as short
Phemex u1000SHIBUSDT	+0.0100%	8h	0.000005997	+0.100%	$2.1M	$7.7M	50x	as long as short
Paradex kSHIB-USD-PERPshort	+0.0103%	8h	0.000005988	−0.051%	$7K	$13	20x
Extended 1000SHIB-USD	+0.0104%	1h	0.000005987	−0.062%	$53K	$4K	25x	as long as short
Hyperliquid kSHIB	+0.0109%	1h	0.000005994	+0.050%	$3.6M	$5.4M	10x	as long as short
GMX SHIB/USD [ETH-USDC]	L +0.0212% / S −0.2404%	1h	0.000005000	−16.541%	$1K	—	100x	as long as short
BloFin SHIB-USDT	+0.0220%	8h	0.000005991	0.000%	$868K	$928K	50x	as long as short
Reya kSHIBRUSDPERP	+0.0323%	1h	0.000005988	−0.057%	$1	—	20x	as long as short