Funding arb · Price arb /

SHIB

all SHIB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0041%/8h= +4.5% APRpaid last 24h −0.015%

Price spread now: Injective against HTX−0.461%7-day average — · you buy dearer than you sell

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

Long on HTX Short on Injective

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—needs both histories

Funding pays, the price is against you. Injective is 0.461% cheaper against HTX than usual: you would sell low and buy high (spread −0.461% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$46 on $10k: about 37 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	HTX SHIB-USDT	0.000006068	0.0100	pay 0.0100% / 8h	1h 12m	$414K	$618K	75x
Short	Injective SHIB/USDC PERP	0.000006040	0.0141	get 0.0018% / 1h	12m 59s	$248	$134K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against HTX. 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 HTXbpFee InjectivebpOrdersPrice spread, now −0.461%Rate

Funding earned: $8.62
Price spread: −0.461% → 0.000%: −$46.14
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$49.54
Costs to cover: 0.120%
Break-even: 47.2 days

Slippage unknown: HTX: live order book, 6 min ago; Injective: 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 HTX live order book, 6 min ago	3.29 bp	35.0 bp −$35	102.6 bp −$1,026	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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	0.000006074	+0.096%	$23K	$64K	10x	as long as short
Kalshi KXKSHIBPERP	0.0000%	8h	0.000006071	+0.043%	$73K	$1.9M	2x	as long as short
Deribit 1000SHIB_USDC-PERPETUAL	0.0000%	1h	0.000006068	0.000%	$46K	$65K	25x	as long as short
gTrade (Gains Network) SHIB/USD	L +0.0006% / S −0.0001%	1h	0.000006067	−0.020%	$738	—	150x	as long as short
Coinbase International 1000SHIB-PERP-INTX	+0.0008%	1h	0.000006080	+0.198%	$81K	$786K	50x	as long as short
BingX 1000SHIB-USDT	+0.0080%	8h	0.000006070	+0.033%	—	$2.1M	—	as long as short
Lighter 1000SHIB	+0.0096%	1h	0.000006070	+0.033%	$153K	$290K	10x	as long as short
Aster 1000SHIBUSDT	+0.0100%	8h	0.000006065	−0.051%	$35K	$175K	50x	as long as short
Pacifica kSHIB	+0.0100%	1h	0.000006072	+0.066%	$11K	$4K	10x	as long as short
Binance 1000SHIBUSDT	+0.0100%	8h	0.000006073	+0.090%	$29.8M	$93.9M	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-SWAP	+0.0100%	8h	0.000006070	+0.033%	$8.8M	$32.0M	50x	as long as short
Gate SHIB_USDT	+0.0100%	8h	0.000006067	−0.016%	$7.0M	$5.6M	75x	as long as short
MEXC SHIB_USDT	+0.0100%	8h	0.000006070	+0.033%	$30.8M	$16.2M	300x	as long as short
KuCoin SHIBUSDTM	+0.0100%	8h	0.000006069	+0.016%	$4.8M	$2.5M	75x	as long as short
Bitget SHIBUSDT	+0.0100%	8h	0.000006070	+0.033%	$11.6M	$13.1M	75x	as long as short
Backpack kSHIB_USDC_PERP	+0.0100%	1h	0.000006071	+0.049%	$25K	$6K	15x	as long as short
Orderly PERP_1000SHIB_USDC	+0.0100%	8h	0.000006068	0.000%	$7K	$4K	20x	as long as short
SunX SHIB-USDT	+0.0100%	8h	0.000006076	+0.132%	$2K	$23K	20x	as long as short
SoDEX 1000SHIB-USD	+0.0100%	1h	0.000006068	0.000%	$542	$5K	10x	as long as short
HTX SHIB-USDTlong	+0.0100%	8h	0.000006068	long leg	$414K	$618K	75x
Phemex u1000SHIBUSDT	+0.0100%	8h	0.000006070	+0.033%	$2.1M	$5.8M	50x	as long as short
Paradex kSHIB-USD-PERP	+0.0103%	8h	0.000006074	+0.097%	$7K	—	20x	as long as short
Extended 1000SHIB-USD	+0.0104%	1h	0.000006069	+0.017%	$54K	$4K	25x	as long as short
Injective SHIB/USDC PERPshort	+0.0141%	1h	0.000006040	−0.461%	$248	$134K	5.5x
GMX SHIB/USD [ETH-USDC]	L +0.0213% / S −0.2404%	1h	0.000006000	−1.121%	$1K	—	100x	as long as short
BloFin SHIB-USDT	+0.0220%	8h	0.000006069	+0.016%	$816K	$949K	50x	as long as short
Reya kSHIBRUSDPERP	+0.0323%	1h	0.000006064	−0.063%	$1	—	20x	as long as short
Kraken Futures PF_SHIBUSD	+0.0357%	1h	0.000006070	+0.030%	$1.2M	$798K	50x	as long as short
Hyperliquid kSHIB	+0.0799%	1h	0.000006080	+0.198%	$4.4M	$4.0M	10x	as long as short