Funding you earn now, next payment 23:00 UTC−0.0852%/8h= −93.3% APRnext payment −$1.06 per $10,000 · paid last 24h −0.041%
Price spread now: Lighter against Hyperliquid−0.116%7-day average −0.115% · you buy dearer than you sell
Net, funding: paid 7d − costs−$62as in the Funding arb table
Net, price: spread back to 7d avg − costs−$42as in the Price arb table
costs, in and out, $10k−$410.415% of the position
Funding, last 7 days−0.208%−$21 on $10k
+Price spread, last 4 days (all we have)−0.005%−$1 · spread now −0.116%, 7d avg −0.115%
=Together, before fees−0.214%+ Points / potential airdropHyperliquid: Season 2 · Lighter: Season 3 · farm board−$21 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.115%, so right now this pair is about funding alone: −$26 a day on $10k at the current rate.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.208% in total (about -10.9% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.06 per $10,000. 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 | 0.000006027 | 0.0948 | pay 0.0118% / 1h | 49m 38s | $4.4M | $3.8M | 10x |
| Short | Lighter 1000SHIB | 0.000006020 | 0.0096 | get 0.0012% / 1h | 49m 38s | $153K | $286K | 10x |
Hyperliquid kSHIB
Lighter 1000SHIBFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter 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
- −$178.89
- Price spread: −0.116% → −0.115%
- −$0.08
- Slippage, 4 orders
- −$32.48
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$220.45
- Costs to cover
- 0.415%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 2 min ago; Lighter: live order book, 24 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, 2 min ago | 1.66 bp | 10.2 bp −$10 | doesn't fit | doesn't fit | doesn't fit |
| Sell Lighter live order book, 24 min ago | 1.67 bp | 9.8 bp −$10 | 69.4 bp −$694 | doesn't fit | 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 | 0.000006013 | −0.226% | $23K | $64K | 10x | as long as short |
| Kalshi KXKSHIBPERP | 0.0000% | 8h | 0.000006013 | −0.239% | $58K | $1.7M | 2x | as long as short |
| Deribit 1000SHIB_USDC-PERPETUAL | 0.0000% | 1h | 0.000006014 | −0.216% | $46K | $65K | 25x | as long as short |
| gTrade (Gains Network) SHIB/USD | L +0.0006% / S −0.0001% | 1h | 0.000006011 | −0.257% | $731 | — | 150x | as long as short |
| Coinbase International 1000SHIB-PERP-INTX | +0.0008% | 1h | 0.000006004 | −0.382% | $90K | $761K | 50x | as long as short |
| BingX 1000SHIB-USDC | +0.0080% | 8h | 0.000006016 | −0.183% | — | $1.6M | — | as long as short |
| Lighter 1000SHIBshort | +0.0096% | 1h | 0.000006020 | −0.116% | $153K | $286K | 10x | |
| Aster 1000SHIBUSDT | +0.0100% | 8h | 0.000006019 | −0.134% | $36K | $179K | 50x | as long as short |
| Pacifica kSHIB | +0.0100% | 1h | 0.000006018 | −0.149% | $12K | $4K | 10x | as long as short |
| Binance 1000SHIBUSDT | +0.0100% | 8h | 0.000006020 | −0.122% | $29.4M | $89.0M | 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
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 | 0.000006015 | −0.199% | $7.6M | $28.4M | 50x | as long as short |
| Gate SHIB_USDT | +0.0100% | 8h | 0.000006013 | −0.232% | $6.8M | $5.4M | 75x | as long as short |
| MEXC SHIB_USDT | +0.0100% | 8h | 0.000006016 | −0.183% | $31.8M | $15.5M | 300x | as long as short |
| KuCoin SHIBUSDTM | +0.0100% | 8h | 0.000006015 | −0.199% | $4.9M | $2.3M | 75x | as long as short |
| Bitget SHIBUSDT | +0.0100% | 8h | 0.000006018 | −0.149% | $11.7M | $12.4M | 75x | as long as short |
| Orderly PERP_1000SHIB_USDC | +0.0100% | 8h | 0.000006015 | −0.199% | $7K | $4K | 20x | as long as short |
| SunX SHIB-USDT | +0.0100% | 8h | 0.000006024 | −0.050% | $2K | $23K | 20x | as long as short |
| SoDEX 1000SHIB-USD | +0.0100% | 1h | 0.000006014 | −0.216% | $540 | $5K | 10x | as long as short |
| HTX SHIB-USDT | +0.0100% | 8h | 0.000006010 | −0.282% | $405K | $617K | 75x | as long as short |
| Phemex u1000SHIBUSDT | +0.0100% | 8h | 0.000006012 | −0.249% | $2.2M | $5.5M | 50x | as long as short |
| Paradex kSHIB-USD-PERP | +0.0103% | 8h | 0.000006018 | −0.145% | $7K | — | 20x | as long as short |
| Extended 1000SHIB-USD | +0.0104% | 1h | 0.000006015 | −0.198% | $53K | $4K | 25x | as long as short |
| Backpack kSHIB_USDC_PERP | +0.0140% | 1h | 0.000006016 | −0.183% | $25K | $5K | 15x | as long as short |
| Injective SHIB/USDC PERP | +0.0141% | 1h | 0.000005975 | −0.863% | $245 | $99K | 5.5x | as long as short |
| GMX SHIB/USD [ETH-USDC] | L +0.0213% / S −0.2404% | 1h | 0.000006000 | −0.448% | $1K | — | 100x | as long as short |
| BloFin SHIB-USDT | +0.0220% | 8h | 0.000006003 | −0.398% | $709K | $941K | 50x | as long as short |
| Reya kSHIBRUSDPERP | +0.0323% | 1h | 0.000006012 | −0.256% | $1 | — | 20x | as long as short |
| Kraken Futures PF_SHIBUSD | +0.0360% | 1h | 0.000006015 | −0.200% | $1.1M | $765K | 50x | as long as short |
| Hyperliquid kSHIBlong | +0.0948% | 1h | 0.000006027 | long leg | $4.4M | $3.8M | 10x |
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
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