Funding you earn now, next payment 22:00 UTC−0.0589%/8h= −64.5% APRpaid last 24h −0.039%
Price spread now: BingX against Hyperliquid−0.268%7-day average −0.124% · you buy dearer than you sell
Net, funding: paid 7d − costs−$79as in the Funding arb table
Net, price: spread back to 7d avg − costs−$74as in the Price arb table
costs, in and out, $10k−$590.591% of the position
Funding, last 7 days−0.199%−$20 on $10k
+Price spread, last 7 days+0.188%+$19 · spread now −0.268%, 7d avg −0.124%
=Together, before fees−0.011%+ Points / potential airdropHyperliquid: Season 2 · farm board−$1 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$18 a day on $10k at the current rate, and BingX is 0.144% cheaper against Hyperliquid than usual: you would sell low and buy high (−$14 if the spread goes back to its 7-day average of −0.124%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.199% in total (about -10.4% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid kSHIB | 0.000005978 | 0.0669 | pay 0.0084% / 1h | 17m 17s | $4.3M | $3.7M | 10x |
| Short | BingX 1000SHIB-USDC | 0.000005962 | 0.0080 | get 0.0080% / 8h | 2h 17m | — | $1.6M | — |
Hyperliquid kSHIB
BingX 1000SHIB-USDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
BingX against Hyperliquid. 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
- −$123.78
- Price spread: −0.268% → −0.124%
- −$14.41
- Slippage, 4 orders
- −$40.1
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee BingX: 5 bp × 2 orders
- −$10
- Net
- −$197.3
- Costs to cover
- 0.591%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 4 min ago; BingX: live order book, 10 min ago.
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 Hyperliquid live order book, 4 min ago | 5.00 bp | 12.3 bp −$12 | 22.6 bp −$226 | doesn't fit | doesn't fit |
| Sell BingX live order book, 10 min ago | 2.51 bp | 15.6 bp −$16 | 47.4 bp −$474 | 274.4 bp −$27.4K | doesn't fit |
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 | |
|---|---|---|---|---|---|---|---|---|
| Kalshi KXKSHIBPERP | 0.0000% | 8h | 0.000005967 | −0.179% | $58K | $1.7M | 2x | as long as short |
| Deribit 1000SHIB_USDC-PERPETUAL | 0.0000% | 1h | 0.000005963 | −0.251% | $46K | $65K | 25x | as long as short |
| gTrade (Gains Network) SHIB/USD | L +0.0006% / S −0.0001% | 1h | 0.000005966 | −0.207% | $726 | — | 150x | as long as short |
| Coinbase International 1000SHIB-PERP-INTX | +0.0016% | 1h | 0.000005933 | −0.753% | $89K | $752K | 50x | as long as short |
| Kraken Futures PF_SHIBUSD | +0.0056% | 1h | 0.000005964 | −0.230% | $1.1M | $765K | 50x | as long as short |
| BingX 1000SHIB-USDCshort | +0.0080% | 8h | 0.000005962 | −0.268% | — | $1.6M | — | |
| Lighter 1000SHIB | +0.0096% | 1h | 0.000005964 | −0.234% | $152K | $286K | 10x | as long as short |
| Aster 1000SHIBUSDT | +0.0100% | 8h | 0.000005964 | −0.239% | $35K | $179K | 50x | as long as short |
| Pacifica kSHIB | +0.0100% | 1h | 0.000005968 | −0.167% | $11K | $4K | 10x | as long as short |
| Binance 1000SHIBUSDT | +0.0100% | 8h | 0.000005963 | −0.250% | $29.0M | $88.6M | 75x | as long as short |
Kalshi KXKSHIBPERP
Deribit 1000SHIB_USDC-PERPETUAL
gTrade (Gains Network) SHIB/USD
Coinbase International 1000SHIB-PERP-INTX
Kraken Futures PF_SHIBUSD
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 | 0.000005960 | −0.301% | $7.6M | $28.0M | 50x | as long as short |
| Gate SHIB_USDT | +0.0100% | 8h | 0.000005964 | −0.234% | $6.8M | $5.4M | 75x | as long as short |
| MEXC SHIB_USDT | +0.0100% | 8h | 0.000005964 | −0.234% | $31.7M | $15.7M | 300x | as long as short |
| KuCoin SHIBUSDTM | +0.0100% | 8h | 0.000005972 | −0.100% | $4.9M | $2.3M | 75x | as long as short |
| Bitget SHIBUSDT | +0.0100% | 8h | 0.000005963 | −0.251% | $11.6M | $12.6M | 75x | as long as short |
| Backpack kSHIB_USDC_PERP | +0.0100% | 1h | 0.000005969 | −0.151% | $25K | $5K | 15x | as long as short |
| Orderly PERP_1000SHIB_USDC | +0.0100% | 8h | 0.000005965 | −0.217% | $6K | $4K | 20x | as long as short |
| SunX SHIB-USDT | +0.0100% | 8h | 0.000005983 | +0.084% | $2K | $23K | 20x | as long as short |
| SoDEX 1000SHIB-USD | +0.0100% | 1h | 0.000005961 | −0.284% | $535 | $5K | 10x | as long as short |
| HTX SHIB-USDT | +0.0100% | 8h | 0.000005964 | −0.234% | $401K | $613K | 75x | as long as short |
| Phemex u1000SHIBUSDT | +0.0100% | 8h | 0.000005963 | −0.251% | $2.1M | $5.5M | 50x | as long as short |
| Paradex kSHIB-USD-PERP | +0.0100% | 8h | 0.000005974 | −0.059% | $7K | — | 20x | as long as short |
| Extended 1000SHIB-USD | +0.0104% | 1h | 0.000005962 | −0.267% | $53K | $4K | 25x | as long as short |
| Injective SHIB/USDC PERP | +0.0187% | 1h | 0.000005964 | −0.234% | $245 | $67K | 5.5x | as long as short |
| GMX SHIB/USD [ETH-USDC] | L +0.0213% / S −0.2404% | 1h | 0.000005000 | −16.360% | $1K | — | 100x | as long as short |
| BloFin SHIB-USDT | +0.0220% | 8h | 0.000005962 | −0.268% | $702K | $987K | 50x | as long as short |
| Reya kSHIBRUSDPERP | +0.0323% | 1h | 0.000005966 | −0.193% | $1 | — | 20x | as long as short |
| Hyperliquid kSHIBlong | +0.0669% | 1h | 0.000005978 | long leg | $4.3M | $3.7M | 10x | |
| dYdX SHIB-USD | +0.7785% | 1h | 0.000005967 | −0.189% | $23K | $64K | 10x | as long as short |
OKX SHIB-USDT-SWAP
Gate SHIB_USDT
MEXC SHIB_USDT
KuCoin SHIBUSDTM
Bitget SHIBUSDT
Backpack kSHIB_USDC_PERP
Orderly PERP_1000SHIB_USDC
SunX SHIB-USDT
SoDEX 1000SHIB-USD
HTX SHIB-USDT
Phemex u1000SHIBUSDT
Paradex kSHIB-USD-PERP
Extended 1000SHIB-USD
Injective SHIB/USDC PERP
GMX SHIB/USD [ETH-USDC]
BloFin SHIB-USDT
Reya kSHIBRUSDPERP
dYdX SHIB-USD