SHIB

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0167%/8h= +18.3% APRnext payment +$0.21 per $10,000 · paid last 24h −0.017%

Price spread now: Kraken Futures against Injective−0.745%7-day average +0.021% · you buy dearer than you sell

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

Long on Injective Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.083%−$8 on $10k

Price spread, last 4 days (all we have)+0.854%+$85 · spread now −0.745%, 7d avg +0.021%

Together, before fees+0.771%+$77 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.766% cheaper against Injective than usual: you would sell low and buy high (spread −0.745% now, against its 7-day average of +0.021%). If the spread goes back, that is −$77 on $10k: about 15 days of funding at the current rate (+$5 a day). Mind the row above: over the last 7 days funding on this pair cost −0.083%, so the current rate has only just turned in your favour.

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	23m 11s	$248	$134K	5.5x
Short	Kraken Futures PF_SHIBUSD	0.000005995	0.0200	get 0.0025% / 1h	23m 11s	$1.2M	$1.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Injective. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Kraken FuturesbpOrdersPrice spread, now −0.745%Rate

Funding earned: $35.01
Price spread: −0.745% → +0.021%: −$76.63
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$51.64
Costs to cover: 0.100%
Break-even: 17.3 days

Slippage unknown: Injective: no order-book sample; Kraken Futures: live order book, just now. 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 Kraken Futures live order book, just now	4.17 bp	18.2 bp −$18	25.6 bp −$256	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
Coinbase International 1000SHIB-PERP-INTX	−0.0016%	1h	0.000006005	−0.579%	$117K	$1.6M	50x	as long as short
Kalshi KXKSHIBPERP	0.0000%	8h	0.000005981	−0.972%	$119K	$3.2M	2x	as long as short
gTrade (Gains Network) SHIB/USD	L +0.0006% / S 0.0000%	1h	0.000005989	−0.839%	$565	—	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	0.000005991	−0.811%	—	$1.6M	—	as long as short
Lighter 1000SHIB	+0.0096%	1h	0.000005999	−0.679%	$156K	$642K	10x	as long as short
Aster 1000SHIBUSDT	+0.0100%	8h	0.000005997	−0.704%	$41K	$305K	50x	as long as short
Pacifica kSHIB	+0.0100%	1h	0.000005975	−1.076%	$12K	$6K	10x	as long as short
Binance 1000SHIBUSDT	+0.0100%	8h	0.000006001	−0.646%	$30.4M	$127.7M	75x	as long as short
OKX SHIB-USDT-SWAP	+0.0100%	8h	0.000005995	−0.745%	$9.0M	$43.5M	50x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate SHIB_USDT	+0.0100%	8h	0.000005986	−0.894%	$7.0M	$7.3M	75x	as long as short
MEXC SHIB_USDT	+0.0100%	8h	0.000005997	−0.712%	$28.8M	$20.2M	300x	as long as short
KuCoin SHIBUSDTM	+0.0100%	8h	0.000005988	−0.861%	$4.7M	$3.2M	75x	as long as short
Bitget SHIBUSDT	+0.0100%	8h	0.000005990	−0.828%	$11.3M	$17.2M	75x	as long as short
Backpack kSHIB_USDC_PERP	+0.0100%	1h	0.000005975	−1.076%	$23K	$8K	15x	as long as short
Orderly PERP_1000SHIB_USDC	+0.0100%	8h	0.000005991	−0.811%	$7K	$4K	20x	as long as short
SunX SHIB-USDT	+0.0100%	8h	0.000006003	−0.613%	$2K	$27K	20x	as long as short
SoDEX 1000SHIB-USD	+0.0100%	1h	0.000005994	−0.762%	$514	$5K	10x	as long as short
HTX SHIB-USDT	+0.0100%	8h	0.000005992	−0.795%	$408K	$576K	75x	as long as short
Phemex u1000SHIBUSDT	+0.0100%	8h	0.000006000	−0.662%	$2.1M	$7.7M	50x	as long as short
Paradex kSHIB-USD-PERP	+0.0103%	8h	0.000005977	−1.048%	$7K	$13	20x	as long as short
Extended 1000SHIB-USD	+0.0104%	1h	0.000005988	−0.862%	$53K	$4K	25x	as long as short
Kraken Futures PF_SHIBUSDshort	+0.0200%	1h	0.000005995	−0.745%	$1.2M	$1.0M	50x
GMX SHIB/USD [ETH-USDC]	L +0.0212% / S −0.2404%	1h	0.000005000	−17.219%	$1K	—	100x	as long as short
BloFin SHIB-USDT	+0.0220%	8h	0.000005982	−0.960%	$868K	$933K	50x	as long as short
Deribit 1000SHIB_USDC-PERPETUAL	+0.0251%	1h	0.000005994	−0.762%	$50K	$59K	25x	as long as short
Hyperliquid kSHIB	+0.0264%	1h	0.000005990	−0.828%	$3.6M	$5.5M	10x	as long as short
Reya kSHIBRUSDPERP	+0.0323%	1h	0.000005985	−0.905%	$1	—	20x	as long as short
dYdX SHIB-USD	+0.3748%	1h	0.000005977	−1.046%	$35K	$70K	10x	as long as short