Funding you earn now, next payment 00:00 UTC−0.0113%/8h= −12.4% APRpaid last 24h −0.029%
Price spread now: Phemex against GMX+1.333%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
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
The price spread pays, funding is against you. Phemex is 1.333% dearer against GMX than usual: you sell high and buy low (spread +1.333% now, against zero (this spread has no 7-day history yet)): +$133 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 39 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | GMX SHIB/USD [ETH-USDC] | 0.000006000 | L +0.0213% / S −0.2404% | pay 0.0027% / 1h | 48m 43s | $1K | — | 100x |
| Short | Phemex u1000SHIBUSDT | 0.000006080 | 0.0100 | get 0.0100% / 8h | 48m 43s | $2.1M | $5.9M | 50x |
GMX SHIB/USD [ETH-USDC]
Phemex u1000SHIBUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against GMX. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$23.79
- Price spread: +1.333% → 0.000%
- $133.33
- Slippage, 4 orders
- no order book: not counted
- Fee GMX: 6 bp × 2 orders
- −$12
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- $85.54
- Costs to cover
- 0.240%
- Break-even
- from the start
Slippage unknown: GMX: no order-book sample; Phemex: live order book, 5 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 GMX no order-book sample | — | — | — | — | — |
| Sell Phemex live order book, 5 min ago | 4.09 bp | 15.2 bp −$15 | 57.0 bp −$570 | doesn't fit | doesn't fit |
GMX: 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 | 0.000006083 | +1.386% | $23K | $64K | 10x | as long as short |
| Kalshi KXKSHIBPERP | 0.0000% | 8h | 0.000006089 | +1.477% | $73K | $1.9M | 2x | as long as short |
| Deribit 1000SHIB_USDC-PERPETUAL | 0.0000% | 1h | 0.000006082 | +1.367% | $47K | $65K | 25x | as long as short |
| gTrade (Gains Network) SHIB/USD | L +0.0006% / S −0.0001% | 1h | 0.000006087 | +1.450% | $740 | — | 150x | as long as short |
| Coinbase International 1000SHIB-PERP-INTX | +0.0032% | 1h | 0.000006113 | +1.883% | $81K | $791K | 50x | as long as short |
| BingX 1000SHIB-USDC | +0.0080% | 8h | 0.000006085 | +1.417% | — | $1.6M | — | as long as short |
| Lighter 1000SHIB | +0.0096% | 1h | 0.000006085 | +1.417% | $153K | $290K | 10x | as long as short |
| Aster 1000SHIBUSDT | +0.0100% | 8h | 0.000006089 | +1.483% | $35K | $175K | 50x | as long as short |
| Pacifica kSHIB | +0.0100% | 1h | 0.000006086 | +1.433% | $12K | $4K | 10x | as long as short |
| Binance 1000SHIBUSDT | +0.0100% | 8h | 0.000006088 | +1.467% | $30.0M | $94.6M | 75x | as long as short |
dYdX SHIB-USD
Kalshi KXKSHIBPERP
Deribit 1000SHIB_USDC-PERPETUAL
gTrade (Gains Network) SHIB/USD
Coinbase International 1000SHIB-PERP-INTX
BingX 1000SHIB-USDC
Lighter 1000SHIB
Aster 1000SHIBUSDT
Pacifica kSHIB
Binance 1000SHIBUSDTShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX SHIB-USDT-SWAP | +0.0100% | 8h | 0.000006081 | +1.350% | $8.8M | $32.4M | 50x | as long as short |
| Gate SHIB_USDT | +0.0100% | 8h | 0.000006083 | +1.383% | $7.0M | $5.6M | 75x | as long as short |
| MEXC SHIB_USDT | +0.0100% | 8h | 0.000006086 | +1.433% | $30.5M | $16.2M | 300x | as long as short |
| KuCoin SHIBUSDTM | +0.0100% | 8h | 0.000006085 | +1.417% | $4.9M | $2.5M | 75x | as long as short |
| Bitget SHIBUSDT | +0.0100% | 8h | 0.000006081 | +1.350% | $11.6M | $13.2M | 75x | as long as short |
| Orderly PERP_1000SHIB_USDC | +0.0100% | 8h | 0.000006084 | +1.400% | $7K | $4K | 20x | as long as short |
| SunX SHIB-USDT | +0.0100% | 8h | 0.000006096 | +1.600% | $2K | $23K | 20x | as long as short |
| SoDEX 1000SHIB-USD | +0.0100% | 1h | 0.000006085 | +1.417% | $539 | $5K | 10x | as long as short |
| HTX SHIB-USDT | +0.0100% | 8h | 0.000006086 | +1.433% | $415K | $613K | 75x | as long as short |
| Phemex u1000SHIBUSDTshort | +0.0100% | 8h | 0.000006080 | +1.333% | $2.1M | $5.9M | 50x | |
| Paradex kSHIB-USD-PERP | +0.0102% | 8h | 0.000006086 | +1.438% | $7K | — | 20x | as long as short |
| Extended 1000SHIB-USD | +0.0104% | 1h | 0.000006087 | +1.453% | $54K | $4K | 25x | as long as short |
| Injective SHIB/USDC PERP | +0.0161% | 1h | 0.000006040 | +0.667% | $248 | $134K | 5.5x | as long as short |
| GMX SHIB/USD [ETH-USDC]long | L +0.0213% / S −0.2404% | 1h | 0.000006000 | long leg | $1K | — | 100x | |
| BloFin SHIB-USDT | +0.0220% | 8h | 0.000006087 | +1.450% | $814K | $952K | 50x | as long as short |
| Reya kSHIBRUSDPERP | +0.0323% | 1h | 0.000006089 | +1.487% | $1 | — | 20x | as long as short |
| Backpack kSHIB_USDC_PERP | +0.0342% | 1h | 0.000006086 | +1.433% | $25K | $6K | 15x | as long as short |
| Kraken Futures PF_SHIBUSD | +0.0379% | 1h | 0.000006086 | +1.439% | $1.2M | $803K | 50x | as long as short |
| Hyperliquid kSHIB | +0.0694% | 1h | 0.000006096 | +1.600% | $4.4M | $4.0M | 10x | as long as short |
OKX SHIB-USDT-SWAP
Gate SHIB_USDT
MEXC SHIB_USDT
KuCoin SHIBUSDTM
Bitget SHIBUSDT
Orderly PERP_1000SHIB_USDC
SunX SHIB-USDT
SoDEX 1000SHIB-USD
HTX SHIB-USDT
Paradex kSHIB-USD-PERP
Extended 1000SHIB-USD
Injective SHIB/USDC PERP
BloFin SHIB-USDT
Reya kSHIBRUSDPERP
Backpack kSHIB_USDC_PERP
Kraken Futures PF_SHIBUSD
Hyperliquid kSHIB