Funding you earn now, next payment 00:00 UTC−0.0539%/8h= −59.0% APRpaid last 24h −0.049%
Price spread now: Bitget against Hyperliquid−0.198%7-day average −0.085% · you buy dearer than you sell
Net, funding: paid 7d − costs−$55as in the Funding arb table
Net, price: spread back to 7d avg − costs−$54as in the Price arb table
costs, in and out, $10k−$430.432% of the position
Funding, last 7 days−0.118%−$12 on $10k
+Price spread, last 7 days+0.105%+$10 · spread now −0.198%, 7d avg −0.085%
=Together, before fees−0.013%+ Points / potential airdropHyperliquid: Season 2 · farm board−$1 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$16 a day on $10k at the current rate, and Bitget is 0.113% cheaper against Hyperliquid than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of −0.085%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.118% in total (about -6.2% 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 | 0.000006067 | 0.0639 | pay 0.0080% / 1h | 37m 23s | $4.4M | $4.0M | 10x |
| Short | Bitget SHIBUSDT | 0.000006055 | 0.0100 | get 0.0100% / 8h | 37m 23s | $11.5M | $13.2M | 75x |
Hyperliquid kSHIB
Bitget SHIBUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bitget 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
- −$113.15
- Price spread: −0.198% → −0.085%
- −$11.3
- Slippage, 4 orders
- −$22.19
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Bitget: 6 bp × 2 orders
- −$12
- Net
- −$167.63
- Costs to cover
- 0.432%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 4 min ago; Bitget: live order book, 1 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 | 1.64 bp | 12.7 bp −$13 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bitget live order book, 1 min ago | 0.82 bp | 9.7 bp −$10 | 11.3 bp −$113 | 47.6 bp −$4,764 | 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 | |
|---|---|---|---|---|---|---|---|---|
| dYdX SHIB-USD | 0.0000% | 1h | 0.000006056 | −0.182% | $23K | $64K | 10x | as long as short |
| Kalshi KXKSHIBPERP | 0.0000% | 8h | 0.000006063 | −0.063% | $73K | $1.9M | 2x | as long as short |
| Deribit 1000SHIB_USDC-PERPETUAL | 0.0000% | 1h | 0.000006061 | −0.099% | $46K | $65K | 25x | as long as short |
| gTrade (Gains Network) SHIB/USD | L +0.0006% / S −0.0001% | 1h | 0.000006055 | −0.198% | $736 | — | 150x | as long as short |
| Coinbase International 1000SHIB-PERP-INTX | +0.0032% | 1h | 0.000006113 | +0.758% | $81K | $791K | 50x | as long as short |
| BingX 1000SHIB-USDC | +0.0080% | 8h | 0.000006055 | −0.198% | — | $1.6M | — | as long as short |
| Lighter 1000SHIB | +0.0096% | 1h | 0.000006056 | −0.181% | $152K | $291K | 10x | as long as short |
| Aster 1000SHIBUSDT | +0.0100% | 8h | 0.000006054 | −0.219% | $35K | $175K | 50x | as long as short |
| Pacifica kSHIB | +0.0100% | 1h | 0.000006057 | −0.165% | $12K | $4K | 10x | as long as short |
| Binance 1000SHIBUSDT | +0.0100% | 8h | 0.000006059 | −0.132% | $29.8M | $95.0M | 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 | 0.000006055 | −0.198% | $8.7M | $32.5M | 50x | as long as short |
| Gate SHIB_USDT | +0.0100% | 8h | 0.000006052 | −0.247% | $7.0M | $5.6M | 75x | as long as short |
| MEXC SHIB_USDT | +0.0100% | 8h | 0.000006054 | −0.214% | $30.4M | $16.3M | 300x | as long as short |
| KuCoin SHIBUSDTM | +0.0100% | 8h | 0.000006054 | −0.214% | $4.9M | $2.5M | 75x | as long as short |
| Bitget SHIBUSDTshort | +0.0100% | 8h | 0.000006055 | −0.198% | $11.5M | $13.2M | 75x | |
| Orderly PERP_1000SHIB_USDC | +0.0100% | 8h | 0.000006061 | −0.099% | $7K | $4K | 20x | as long as short |
| SunX SHIB-USDT | +0.0100% | 8h | 0.000006080 | +0.214% | $2K | $24K | 20x | as long as short |
| SoDEX 1000SHIB-USD | +0.0100% | 1h | 0.000006060 | −0.115% | $542 | $5K | 10x | as long as short |
| HTX SHIB-USDT | +0.0100% | 8h | 0.000006063 | −0.066% | $415K | $615K | 75x | as long as short |
| Phemex u1000SHIBUSDT | +0.0100% | 8h | 0.000006062 | −0.082% | $2.1M | $5.9M | 50x | as long as short |
| Paradex kSHIB-USD-PERP | +0.0102% | 8h | 0.000006057 | −0.172% | $7K | — | 20x | as long as short |
| Extended 1000SHIB-USD | +0.0104% | 1h | 0.000006053 | −0.235% | $54K | $4K | 25x | as long as short |
| Backpack kSHIB_USDC_PERP | +0.0159% | 1h | 0.000006062 | −0.082% | $25K | $6K | 15x | as long as short |
| Injective SHIB/USDC PERP | +0.0161% | 1h | 0.000006040 | −0.445% | $248 | $134K | 5.5x | as long as short |
| GMX SHIB/USD [ETH-USDC] | L +0.0213% / S −0.2404% | 1h | 0.000006000 | −1.104% | $1K | — | 100x | as long as short |
| BloFin SHIB-USDT | +0.0220% | 8h | 0.000006065 | −0.033% | $822K | $948K | 50x | as long as short |
| Reya kSHIBRUSDPERP | +0.0323% | 1h | 0.000006055 | −0.202% | $1 | — | 20x | as long as short |
| Kraken Futures PF_SHIBUSD | +0.0380% | 1h | 0.000006061 | −0.091% | $1.2M | $805K | 50x | as long as short |
| Hyperliquid kSHIBlong | +0.0639% | 1h | 0.000006067 | long leg | $4.4M | $4.0M | 10x |
OKX SHIB-USDT-SWAP
Gate SHIB_USDT
MEXC SHIB_USDT
KuCoin SHIBUSDTM
Orderly PERP_1000SHIB_USDC
SunX SHIB-USDT
SoDEX 1000SHIB-USD
HTX SHIB-USDT
Phemex u1000SHIBUSDT
Paradex kSHIB-USD-PERP
Extended 1000SHIB-USD
Backpack kSHIB_USDC_PERP
Injective SHIB/USDC PERP
GMX SHIB/USD [ETH-USDC]
BloFin SHIB-USDT
Reya kSHIBRUSDPERP
Kraken Futures PF_SHIBUSD