Funding arb · Price arb /

SHIB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0320%/8h= −35.1% APRpaid last 24h +0.014%

Price spread now: SunX against Deribit+0.033%7-day average — · you sell dearer than you buy

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

Long on Deribit Short on SunX

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

Together, before fees—needs both histories

The price spread pays, funding is against you. SunX is 0.033% dearer against Deribit than usual: you sell high and buy low (spread +0.033% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 8 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit 1000SHIB_USDC-PERPETUAL	0.000005972	0.0420	pay 0.0053% / 1h	26m 25s	$42K	$61K	25x
Short	SunX SHIB-USDT	0.000005974	0.0100	get 0.0100% / 8h	2h 26m	$2K	$23K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.033%Rate

Funding earned: −$67.25
Price spread: +0.033% → 0.000%: $3.35
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee SunX: 4 bp × 2 orders: −$8
Net: −$78.9
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Deribit: no order-book sample; SunX: 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 SunX no order-book sample	—	—	—	—	—

Deribit and SunX: 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	0.000005962	−0.161%	$52K	$1.6M	2x	as long as short
gTrade (Gains Network) SHIB/USD	L +0.0006% / S −0.0001%	1h	0.000005966	−0.097%	$726	—	150x	as long as short
Coinbase International 1000SHIB-PERP-INTX	+0.0016%	1h	0.000005933	−0.653%	$89K	$752K	50x	as long as short
Kraken Futures PF_SHIBUSD	+0.0056%	1h	0.000005970	−0.029%	$1.1M	$763K	50x	as long as short
BingX 1000SHIB-USDC	+0.0080%	8h	0.000005975	+0.050%	—	$1.6M	—	as long as short
Lighter 1000SHIB	+0.0096%	1h	0.000005983	+0.184%	$152K	$286K	10x	as long as short
Aster 1000SHIBUSDT	+0.0100%	8h	0.000005973	+0.017%	$35K	$179K	50x	as long as short
Pacifica kSHIB	+0.0100%	1h	0.000005980	+0.134%	$12K	$4K	10x	as long as short
Binance 1000SHIBUSDT	+0.0100%	8h	0.000005984	+0.207%	$29.1M	$88.2M	75x	as long as short
OKX SHIB-USDT-SWAP	+0.0100%	8h	0.000005985	+0.218%	$7.6M	$28.0M	50x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate SHIB_USDT	+0.0100%	8h	0.000005974	+0.033%	$6.8M	$5.4M	75x	as long as short
MEXC SHIB_USDT	+0.0100%	8h	0.000005984	+0.201%	$31.9M	$15.7M	300x	as long as short
KuCoin SHIBUSDTM	+0.0100%	8h	0.000005985	+0.218%	$5.0M	$2.3M	75x	as long as short
Bitget SHIBUSDT	+0.0100%	8h	0.000005988	+0.268%	$11.7M	$12.6M	75x	as long as short
Backpack kSHIB_USDC_PERP	+0.0100%	1h	0.000005974	+0.033%	$25K	$5K	15x	as long as short
Orderly PERP_1000SHIB_USDC	+0.0100%	8h	0.000005972	0.000%	$6K	$4K	20x	as long as short
SunX SHIB-USDTshort	+0.0100%	8h	0.000005974	+0.033%	$2K	$23K	20x
SoDEX 1000SHIB-USD	+0.0100%	1h	0.000005967	−0.084%	$548	$5K	10x	as long as short
HTX SHIB-USDT	+0.0100%	8h	0.000005963	−0.151%	$402K	$620K	75x	as long as short
Phemex u1000SHIBUSDT	+0.0100%	8h	0.000005964	−0.134%	$2.1M	$5.4M	50x	as long as short
Paradex kSHIB-USD-PERP	+0.0100%	8h	0.000005979	+0.111%	$7K	—	20x	as long as short
Extended 1000SHIB-USD	+0.0104%	1h	0.000005976	+0.060%	$53K	$4K	25x	as long as short
Injective SHIB/USDC PERP	+0.0187%	1h	0.000005964	−0.134%	$245	$67K	5.5x	as long as short
GMX SHIB/USD [ETH-USDC]	L +0.0213% / S −0.2404%	1h	0.000005000	−16.276%	$1K	—	100x	as long as short
BloFin SHIB-USDT	+0.0220%	8h	0.000005969	−0.050%	$708K	$988K	50x	as long as short
Reya kSHIBRUSDPERP	+0.0323%	1h	0.000005985	+0.214%	$1	—	20x	as long as short
Deribit 1000SHIB_USDC-PERPETUALlong	+0.0420%	1h	0.000005972	long leg	$42K	$61K	25x
Hyperliquid kSHIB	+0.0677%	1h	0.000005997	+0.419%	$4.3M	$3.7M	10x	as long as short
dYdX SHIB-USD	+0.8948%	1h	0.000005980	+0.130%	$23K	$64K	10x	as long as short