Funding arb · Price arb /

SHIB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0094%/8h= +10.3% APRpaid last 24h +0.028%

Price spread now: MEXC against gTrade (Gains Network)−0.061%7-day average — · you buy dearer than you sell

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

Long on gTrade (Gains Network)Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 3 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

Funding pays, the price is against you. MEXC is 0.061% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.061% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$6 on $10k: about 2.2 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) SHIB/USD	0.000006039	L +0.0006% / S 0.0000%	pay 0.0001% / 1h	57m 15s	$570	—	150x
Short	MEXC SHIB_USDT	0.000006035	0.0100	get 0.0100% / 8h	1h 57m	$28.5M	$19.4M	300x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee MEXCbpOrdersPrice spread, now −0.061%Rate

Funding earned: $19.68
Price spread: −0.061% → 0.000%: −$6.13
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: $3.55
Costs to cover: 0.100%
Break-even: 5.7 days

Slippage unknown: gTrade (Gains Network): no order-book sample; MEXC: 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell MEXC live order book, 2 min ago	0.82 bp	3.9 bp −$4	7.0 bp −$70	51.9 bp −$5,188	84.5 bp −$42.2K

gTrade (Gains Network): 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	−0.0373%	1h	0.000006029	−0.155%	$1.1M	$1.0M	50x	as long as short
Coinbase International 1000SHIB-PERP-INTX	−0.0088%	1h	0.000006050	+0.187%	$123K	$1.6M	50x	as long as short
dYdX SHIB-USD	0.0000%	1h	0.000006053	+0.234%	$24K	$56K	10x	as long as short
Kalshi KXKSHIBPERP	0.0000%	8h	0.000006047	+0.144%	$115K	$3.2M	2x	as long as short
Deribit 1000SHIB_USDC-PERPETUAL	0.0000%	1h	0.000006036	−0.045%	$47K	$65K	25x	as long as short
gTrade (Gains Network) SHIB/USDlong	L +0.0006% / S 0.0000%	1h	0.000006039	long leg	$570	—	150x
Injective SHIB/USDC PERP	+0.0033%	1h	0.000006040	+0.022%	$248	$134K	5.5x	as long as short
BingX 1000SHIB-USDC	+0.0070%	8h	0.000006033	−0.094%	—	$1.6M	—	as long as short
Lighter 1000SHIB	+0.0096%	1h	0.000006034	−0.078%	$156K	$639K	10x	as long as short
Aster 1000SHIBUSDT	+0.0100%	8h	0.000006038	−0.014%	$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	0.000006053	+0.237%	$12K	$5K	10x	as long as short
Binance 1000SHIBUSDT	+0.0100%	8h	0.000006037	−0.026%	$30.3M	$126.1M	75x	as long as short
OKX SHIB-USDT-SWAP	+0.0100%	8h	0.000006032	−0.111%	$9.2M	$43.3M	50x	as long as short
Gate SHIB_USDT	+0.0100%	8h	0.000006040	+0.022%	$7.1M	$7.3M	75x	as long as short
MEXC SHIB_USDTshort	+0.0100%	8h	0.000006035	−0.061%	$28.5M	$19.4M	300x
KuCoin SHIBUSDTM	+0.0100%	8h	0.000006040	+0.022%	$4.7M	$3.2M	75x	as long as short
Bitget SHIBUSDT	+0.0100%	8h	0.000006034	−0.078%	$11.4M	$17.2M	75x	as long as short
Backpack kSHIB_USDC_PERP	+0.0100%	1h	0.000006033	−0.094%	$23K	$7K	15x	as long as short
Orderly PERP_1000SHIB_USDC	+0.0100%	8h	0.000006035	−0.061%	$7K	$4K	20x	as long as short
SunX SHIB-USDT	+0.0100%	8h	0.000006043	+0.071%	$2K	$27K	20x	as long as short
SoDEX 1000SHIB-USD	+0.0100%	1h	0.000006032	−0.111%	$503	$5K	10x	as long as short
HTX SHIB-USDT	+0.0100%	8h	0.000006041	+0.038%	$412K	$573K	75x	as long as short
Phemex u1000SHIBUSDT	+0.0100%	8h	0.000006038	−0.012%	$2.1M	$7.6M	50x	as long as short
Paradex kSHIB-USD-PERP	+0.0101%	8h	0.000006054	+0.252%	$7K	$13	20x	as long as short
Extended 1000SHIB-USD	+0.0104%	1h	0.000006030	−0.140%	$54K	$4K	25x	as long as short
Hyperliquid kSHIB	+0.0104%	1h	0.000006046	+0.121%	$3.6M	$5.3M	10x	as long as short
GMX SHIB/USD [ETH-USDC]	L +0.0212% / S −0.2404%	1h	0.000006000	−0.641%	$1K	—	100x	as long as short
BloFin SHIB-USDT	+0.0220%	8h	0.000006031	−0.128%	$862K	$932K	50x	as long as short
Reya kSHIBRUSDPERP	+0.0323%	1h	0.000006038	−0.020%	$1	—	20x	as long as short