Funding you earn now, next payment 01:00 UTC−0.0033%/8h= −3.6% APRpaid last 24h −0.018%
Price spread now: Kalshi against Injective+0.975%7-day average +0.018% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)−0.077%−$8 on $10k
+Price spread, last 3 days (all we have)−0.768%−$77 · spread now +0.975%, 7d avg +0.018%
=The price spread pays, funding is against you. Kalshi is 0.958% dearer against Injective than usual: you sell high and buy low (spread +0.975% now, against its 7-day average of +0.018%): +$96 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 3 months.
| 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 | 37m 03s | $248 | $134K | 5.5x |
| Short | Kalshi KXKSHIBPERP | 0.000006099 | 0 | get 0.0000% / 8h | 3h 37m | $104K | $2.0M | 2x |
Injective SHIB/USDC PERP
Kalshi KXKSHIBPERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kalshi against Injective. 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
- −$7
- Price spread: +0.975% → +0.018%
- $95.76
- Slippage, 4 orders
- no order book: not counted
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Kalshi: 5 bp × 2 orders
- −$10
- Net
- $78.74
- Costs to cover
- 0.100%
- Break-even
- from the start
Slippage unknown: Injective: no order-book sample; Kalshi: live order book, 1 min ago. 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 Kalshi live order book, 1 min ago | 8.22 bp | 13.2 bp −$13 | 21.3 bp −$213 | doesn't fit | doesn't fit |
Injective: 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 | |
|---|---|---|---|---|---|---|---|---|
| dYdX SHIB-USD | 0.0000% | 1h | 0.000006099 | +0.977% | $23K | $64K | 10x | as long as short |
| Kalshi KXKSHIBPERPshort | 0.0000% | 8h | 0.000006099 | +0.975% | $104K | $2.0M | 2x | |
| gTrade (Gains Network) SHIB/USD | L +0.0006% / S −0.0001% | 1h | 0.000006106 | +1.099% | $743 | — | 150x | as long as short |
| Injective SHIB/USDC PERPlong | +0.0033% | 1h | 0.000006040 | long leg | $248 | $134K | 5.5x | |
| Coinbase International 1000SHIB-PERP-INTX | +0.0064% | 1h | 0.000006084 | +0.728% | $77K | $811K | 50x | as long as short |
| BingX 1000SHIB-USDC | +0.0080% | 8h | 0.000006105 | +1.076% | — | $1.6M | — | as long as short |
| Lighter 1000SHIB | +0.0096% | 1h | 0.000006112 | +1.192% | $219K | $438K | 10x | as long as short |
| Aster 1000SHIBUSDT | +0.0100% | 8h | 0.000006109 | +1.135% | $37K | $179K | 50x | as long as short |
| Pacifica kSHIB | +0.0100% | 1h | 0.000006098 | +0.960% | $12K | $4K | 10x | as long as short |
| Binance 1000SHIBUSDT | +0.0100% | 8h | 0.000006108 | +1.126% | $29.8M | $97.5M | 75x | as long as short |
dYdX SHIB-USD
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 | 0.000006108 | +1.126% | $9.3M | $34.5M | 50x | as long as short |
| Gate SHIB_USDT | +0.0100% | 8h | 0.000006103 | +1.043% | $7.1M | $5.5M | 75x | as long as short |
| MEXC SHIB_USDT | +0.0100% | 8h | 0.000006105 | +1.076% | $31.6M | $16.8M | 300x | as long as short |
| KuCoin SHIBUSDTM | +0.0100% | 8h | 0.000006110 | +1.159% | $4.9M | $2.6M | 75x | as long as short |
| Bitget SHIBUSDT | +0.0100% | 8h | 0.000006106 | +1.093% | $11.6M | $13.7M | 75x | as long as short |
| Orderly PERP_1000SHIB_USDC | +0.0100% | 8h | 0.000006108 | +1.126% | $7K | $4K | 20x | as long as short |
| SunX SHIB-USDT | +0.0100% | 8h | 0.000006119 | +1.308% | $2K | $24K | 20x | as long as short |
| SoDEX 1000SHIB-USD | +0.0100% | 1h | 0.000006108 | +1.126% | $562 | $5K | 10x | as long as short |
| HTX SHIB-USDT | +0.0100% | 8h | 0.000006106 | +1.093% | $418K | $594K | 75x | as long as short |
| Phemex u1000SHIBUSDT | +0.0100% | 8h | 0.000006110 | +1.159% | $2.2M | $6.3M | 50x | as long as short |
| Extended 1000SHIB-USD | +0.0104% | 1h | 0.000006109 | +1.142% | $54K | $4K | 25x | as long as short |
| Paradex kSHIB-USD-PERP | +0.0113% | 8h | 0.000006102 | +1.032% | $7K | — | 20x | as long as short |
| Backpack kSHIB_USDC_PERP | +0.0206% | 1h | 0.000006109 | +1.142% | $25K | $6K | 15x | as long as short |
| GMX SHIB/USD [ETH-USDC] | L +0.0213% / S −0.2404% | 1h | 0.000006000 | −0.662% | $1K | — | 100x | as long as short |
| BloFin SHIB-USDT | +0.0220% | 8h | 0.000006113 | +1.209% | $819K | $947K | 50x | as long as short |
| Kraken Futures PF_SHIBUSD | +0.0257% | 1h | 0.000006111 | +1.180% | $1.2M | $821K | 50x | as long as short |
| Reya kSHIBRUSDPERP | +0.0323% | 1h | 0.000006111 | +1.177% | $1 | — | 20x | as long as short |
| Deribit 1000SHIB_USDC-PERPETUAL | +0.0405% | 1h | 0.000006111 | +1.175% | $47K | $65K | 25x | as long as short |
| Hyperliquid kSHIB | +0.0675% | 1h | 0.000006117 | +1.275% | $4.4M | $4.0M | 10x | as long as short |
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
Extended 1000SHIB-USD
Paradex kSHIB-USD-PERP
Backpack kSHIB_USDC_PERP
GMX SHIB/USD [ETH-USDC]
BloFin SHIB-USDT
Kraken Futures PF_SHIBUSD
Reya kSHIBRUSDPERP
Deribit 1000SHIB_USDC-PERPETUAL
Hyperliquid kSHIB