SHIB

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0067%/8h= +7.3% APRnext payment +$0.08 per $10,000 · paid last 24h +0.012%

Price spread now: Backpack against Injective−1.358%7-day average — · you buy dearer than you sell

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

Long on Injective Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 6 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. Backpack is 1.358% cheaper against Injective than usual: you would sell low and buy high (spread −1.358% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$136 on $10k: about 2 months of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective SHIB/USDC PERP	0.000006040	0.0033	pay 0.0004% / 1h	40m 42s	$248	$134K	5.5x
Short	Backpack kSHIB_USDC_PERP	0.000005958	0.0100	get 0.0013% / 1h	40m 42s	$23K	$7K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Injective. 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 InjectivebpFee BackpackbpOrdersPrice spread, now −1.358%Rate

Funding earned: $14
Price spread: −1.358% → 0.000%: −$135.76
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$131.78
Costs to cover: 0.100%
Break-even: 72.9 days

Slippage unknown: Injective: no order-book sample; Backpack: 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 Injective no order-book sample	—	—	—	—	—
Sell Backpack no order-book sample	—	—	—	—	—

Injective and Backpack: 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	−0.0598%	1h	0.000005958	−1.350%	$1.1M	$1.1M	50x	as long as short
Coinbase International 1000SHIB-PERP-INTX	−0.0128%	1h	0.000006001	−0.646%	$117K	$1.5M	50x	as long as short
dYdX SHIB-USD	0.0000%	1h	0.000005960	−1.325%	$23K	$56K	10x	as long as short
Kalshi KXKSHIBPERP	0.0000%	8h	0.000005967	−1.207%	$111K	$3.2M	2x	as long as short
Deribit 1000SHIB_USDC-PERPETUAL	0.0000%	1h	0.000005961	−1.308%	$46K	$65K	25x	as long as short
gTrade (Gains Network) SHIB/USD	L +0.0006% / S 0.0000%	1h	0.000005958	−1.349%	$563	—	150x	as long as short
Injective SHIB/USDC PERPlong	+0.0033%	1h	0.000006040	long leg	$248	$134K	5.5x
BingX 1000SHIB-USDC	+0.0070%	8h	0.000005960	−1.325%	—	$1.6M	—	as long as short
Lighter 1000SHIB	+0.0096%	1h	0.000005960	−1.325%	$156K	$631K	10x	as long as short
Aster 1000SHIBUSDT	+0.0100%	8h	0.000005961	−1.311%	$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	0.000005960	−1.325%	$12K	$5K	10x	as long as short
Binance 1000SHIBUSDT	+0.0100%	8h	0.000005960	−1.318%	$30.1M	$122.8M	75x	as long as short
OKX SHIB-USDT-SWAP	+0.0100%	8h	0.000005955	−1.407%	$9.4M	$41.4M	50x	as long as short
Gate SHIB_USDT	+0.0100%	8h	0.000005954	−1.424%	$7.0M	$7.2M	75x	as long as short
MEXC SHIB_USDT	+0.0100%	8h	0.000005958	−1.358%	$28.4M	$19.1M	300x	as long as short
KuCoin SHIBUSDTM	+0.0100%	8h	0.000005962	−1.291%	$4.6M	$3.1M	75x	as long as short
Bitget SHIBUSDT	+0.0100%	8h	0.000005961	−1.308%	$11.3M	$17.0M	75x	as long as short
Backpack kSHIB_USDC_PERPshort	+0.0100%	1h	0.000005958	−1.358%	$23K	$7K	15x
Orderly PERP_1000SHIB_USDC	+0.0100%	8h	0.000005961	−1.308%	$6K	$4K	20x	as long as short
SunX SHIB-USDT	+0.0100%	8h	0.000005970	−1.159%	$2K	$26K	20x	as long as short
SoDEX 1000SHIB-USD	+0.0100%	1h	0.000005962	−1.291%	$495	$5K	10x	as long as short
HTX SHIB-USDT	+0.0100%	8h	0.000005962	−1.291%	$407K	$590K	75x	as long as short
Phemex u1000SHIBUSDT	+0.0100%	8h	0.000005962	−1.291%	$2.1M	$7.3M	50x	as long as short
Paradex kSHIB-USD-PERP	+0.0101%	8h	0.000005969	−1.177%	$7K	$13	20x	as long as short
Extended 1000SHIB-USD	+0.0104%	1h	0.000005956	−1.393%	$53K	$4K	25x	as long as short
Hyperliquid kSHIB	+0.0141%	1h	0.000005967	−1.209%	$3.5M	$5.3M	10x	as long as short
GMX SHIB/USD [ETH-USDC]	L +0.0213% / S −0.2404%	1h	0.000005000	−17.219%	$1K	—	100x	as long as short
BloFin SHIB-USDT	+0.0220%	8h	0.000005956	−1.391%	$904K	$913K	50x	as long as short
Reya kSHIBRUSDPERP	+0.0323%	1h	0.000005961	−1.302%	$1	—	20x	as long as short