Funding arb · Price arb /

SHIB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0094%/8h= +10.3% APRpaid last 24h +0.028%

Price spread now: OKX against gTrade (Gains Network)−0.095%53s7-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 OKX

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. OKX is 0.095% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.095% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$10 on $10k: about 3.4 days of funding at the current rate (+$3 a day). The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) SHIB/USD	0.000006084	L +0.0006% / S −0.0001%	pay 0.0001% / 1h	20m 31s	$740	—	150x
Short	OKX SHIB-USDT-SWAP	0.000006078	0.0100	get 0.0100% / 8h	1h 20m	$8.8M	$32.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.095%Rate

Funding earned: $19.68
Price spread: −0.095% → 0.000%: −$9.53
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$9.85
Costs to cover: 0.200%
Break-even: 10.5 days

Slippage unknown: gTrade (Gains Network): no order-book sample; OKX: live order book, 3 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 OKX live order book, 3 min ago	0.82 bp	8.1 bp −$8	20.2 bp −$202	doesn't fit	doesn't fit

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
dYdX SHIB-USD	0.0000%	1h	0.000006080	−0.062%	$23K	$64K	10x	as long as short
Kalshi KXKSHIBPERP	0.0000%	8h	0.000006086	+0.035%	$73K	$1.9M	2x	as long as short
Deribit 1000SHIB_USDC-PERPETUAL	0.0000%	1h	0.000006086	+0.036%	$47K	$65K	25x	as long as short
gTrade (Gains Network) SHIB/USDlong	L +0.0006% / S −0.0001%	1h	0.000006084	long leg	$740	—	150x
Coinbase International 1000SHIB-PERP-INTX	+0.0008%	1h	0.000006088	+0.069%	$81K	$787K	50x	as long as short
BingX 1000SHIB-USDC	+0.0080%	8h	0.000006077	−0.112%	—	$1.6M	—	as long as short
Lighter 1000SHIB	+0.0096%	1h	0.000006084	+0.003%	$153K	$290K	10x	as long as short
Aster 1000SHIBUSDT	+0.0100%	8h	0.000006082	−0.032%	$35K	$175K	50x	as long as short
Pacifica kSHIB	+0.0100%	1h	0.000006083	−0.013%	$12K	$4K	10x	as long as short
Binance 1000SHIBUSDT	+0.0100%	8h	0.000006081	−0.048%	$29.9M	$93.6M	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-SWAPshort	+0.0100%	8h	0.000006078	−0.095%	$8.8M	$32.0M	50x
Gate SHIB_USDT	+0.0100%	8h	0.000006080	−0.062%	$7.0M	$5.6M	75x	as long as short
MEXC SHIB_USDT	+0.0100%	8h	0.000006083	−0.013%	$30.8M	$16.2M	300x	as long as short
KuCoin SHIBUSDTM	+0.0100%	8h	0.000006081	−0.046%	$4.9M	$2.5M	75x	as long as short
Bitget SHIBUSDT	+0.0100%	8h	0.000006080	−0.062%	$11.6M	$13.1M	75x	as long as short
Backpack kSHIB_USDC_PERP	+0.0100%	1h	0.000006080	−0.062%	$25K	$6K	15x	as long as short
Orderly PERP_1000SHIB_USDC	+0.0100%	8h	0.000006087	+0.053%	$7K	$4K	20x	as long as short
SunX SHIB-USDT	+0.0100%	8h	0.000006092	+0.135%	$2K	$23K	20x	as long as short
SoDEX 1000SHIB-USD	+0.0100%	1h	0.000006086	+0.036%	$543	$5K	10x	as long as short
HTX SHIB-USDT	+0.0100%	8h	0.000006086	+0.036%	$415K	$618K	75x	as long as short
Phemex u1000SHIBUSDT	+0.0100%	8h	0.000006082	−0.030%	$2.1M	$5.8M	50x	as long as short
Paradex kSHIB-USD-PERP	+0.0103%	8h	0.000006085	+0.016%	$7K	—	20x	as long as short
Extended 1000SHIB-USD	+0.0104%	1h	0.000006080	−0.061%	$54K	$4K	25x	as long as short
Injective SHIB/USDC PERP	+0.0141%	1h	0.000006040	−0.720%	$248	$134K	5.5x	as long as short
GMX SHIB/USD [ETH-USDC]	L +0.0213% / S −0.2404%	1h	0.000006000	−1.377%	$1K	—	100x	as long as short
BloFin SHIB-USDT	+0.0220%	8h	0.000006084	+0.003%	$831K	$952K	50x	as long as short
Reya kSHIBRUSDPERP	+0.0323%	1h	0.000006081	−0.038%	$1	—	20x	as long as short
Kraken Futures PF_SHIBUSD	+0.0356%	1h	0.000006086	+0.040%	$1.2M	$796K	50x	as long as short
Hyperliquid kSHIB	+0.0828%	1h	0.000006092	+0.135%	$4.4M	$4.0M	10x	as long as short