Funding arb · Price arb /

SHIB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0223%/8h= +24.4% APRpaid last 24h +0.067%

Price spread now: Reya against HTX−0.170%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 Reya

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—+ Points / potential airdropReya: Active · farm boardneeds both histories

Funding pays, the price is against you. Reya is 0.170% cheaper against HTX than usual: you would sell low and buy high (spread −0.170% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$17 on $10k: about 2.5 days of funding at the current rate (+$7 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX SHIB-USDT	0.000006021	0.0100	pay 0.0100% / 8h	2h 55m	$411K	$594K	75x
Short	Reya kSHIBRUSDPERP	0.000006011	0.0323	get 0.0040% / 1h	55m 44s	$1	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now −0.170%Rate

Funding earned: $46.75
Price spread: −0.170% → 0.000%: −$16.98
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee Reya: 3 bp × 2 orders: −$6
Net: $11.76
Costs to cover: 0.180%
Break-even: 5.2 days

Slippage unknown: HTX: live order book, 58 min ago; Reya: 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, 58 min ago	2.41 bp	52.5 bp −$52	133.9 bp −$1,339	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: 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	−0.0592%	1h	0.000006018	−0.049%	$1.1M	$1.0M	50x	as long as short
Coinbase International 1000SHIB-PERP-INTX	−0.0128%	1h	0.000006051	+0.498%	$118K	$1.6M	50x	as long as short
dYdX SHIB-USD	0.0000%	1h	0.000006015	−0.103%	$24K	$65K	10x	as long as short
Kalshi KXKSHIBPERP	0.0000%	8h	0.000006018	−0.050%	$111K	$3.1M	2x	as long as short
Deribit 1000SHIB_USDC-PERPETUAL	0.0000%	1h	0.000006023	+0.033%	$47K	$65K	25x	as long as short
gTrade (Gains Network) SHIB/USD	L +0.0006% / S 0.0000%	1h	0.000006018	−0.055%	$568	—	150x	as long as short
Injective SHIB/USDC PERP	+0.0033%	1h	0.000006040	+0.316%	$248	$134K	5.5x	as long as short
BingX 1000SHIB-USDC	+0.0070%	8h	0.000006012	−0.149%	—	$1.6M	—	as long as short
Lighter 1000SHIB	+0.0096%	1h	0.000006021	0.000%	$158K	$629K	10x	as long as short
Aster 1000SHIBUSDT	+0.0100%	8h	0.000006018	−0.058%	$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	0.000006018	−0.050%	$12K	$5K	10x	as long as short
Binance 1000SHIBUSDT	+0.0100%	8h	0.000006018	−0.043%	$30.4M	$121.7M	75x	as long as short
OKX SHIB-USDT-SWAP	+0.0100%	8h	0.000006011	−0.166%	$9.6M	$41.5M	50x	as long as short
Gate SHIB_USDT	+0.0100%	8h	0.000006015	−0.100%	$7.1M	$7.1M	75x	as long as short
MEXC SHIB_USDT	+0.0100%	8h	0.000006016	−0.083%	$28.9M	$19.1M	300x	as long as short
KuCoin SHIBUSDTM	+0.0100%	8h	0.000006017	−0.066%	$4.6M	$3.1M	75x	as long as short
Bitget SHIBUSDT	+0.0100%	8h	0.000006009	−0.199%	$11.3M	$16.9M	75x	as long as short
Backpack kSHIB_USDC_PERP	+0.0100%	1h	0.000006019	−0.033%	$23K	$7K	15x	as long as short
Orderly PERP_1000SHIB_USDC	+0.0100%	8h	0.000006023	+0.033%	$7K	$4K	20x	as long as short
SunX SHIB-USDT	+0.0100%	8h	0.000006033	+0.199%	$2K	$26K	20x	as long as short
SoDEX 1000SHIB-USD	+0.0100%	1h	0.000006021	0.000%	$504	$5K	10x	as long as short
HTX SHIB-USDTlong	+0.0100%	8h	0.000006021	long leg	$411K	$594K	75x
Phemex u1000SHIBUSDT	+0.0100%	8h	0.000006020	−0.017%	$2.1M	$7.3M	50x	as long as short
Paradex kSHIB-USD-PERP	+0.0101%	8h	0.000006017	−0.073%	$7K	$13	20x	as long as short
Extended 1000SHIB-USD	+0.0104%	1h	0.000006014	−0.123%	$53K	$4K	25x	as long as short
GMX SHIB/USD [ETH-USDC]	L +0.0213% / S −0.2404%	1h	0.000006000	−0.349%	$1K	—	100x	as long as short
BloFin SHIB-USDT	+0.0220%	8h	0.000006022	+0.017%	$933K	$921K	50x	as long as short
Hyperliquid kSHIB	+0.0230%	1h	0.000006016	−0.083%	$3.6M	$5.3M	10x	as long as short
Reya kSHIBRUSDPERPshort	+0.0323%	1h	0.000006011	−0.170%	$1	—	20x