Funding arb · Price arb /

SHIB

all SHIB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0086%/8h= −9.4% APRpaid last 24h +0.015%

Price spread now: Paradex against Injective+0.379%7-day average — · you sell dearer than you buy

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

Long on Injective Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

The price spread pays, funding is against you. Paradex is 0.379% dearer against Injective than usual: you sell high and buy low (spread +0.379% now, against zero (this spread has no 7-day history yet)): +$38 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 15 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective SHIB/USDC PERP	0.000005964	0.0187	pay 0.0023% / 1h	23m 05s	$245	$67K	5.5x
Short	Paradex kSHIB-USD-PERP	0.000005987	0.0101	get 0.0101% / 8h	2h 23m	$7K	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now +0.379%Rate

Funding earned: −$18.1
Price spread: +0.379% → 0.000%: $37.86
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Paradex: 2 bp × 2 orders: −$4
Net: $15.74
Costs to cover: 0.040%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; Paradex: 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 Paradex no order-book sample	—	—	—	—	—

Injective and Paradex: 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
Kalshi KXKSHIBPERP	0.0000%	8h	0.000005983	+0.317%	$57K	$1.7M	2x	as long as short
Deribit 1000SHIB_USDC-PERPETUAL	0.0000%	1h	0.000005986	+0.369%	$42K	$61K	25x	as long as short
gTrade (Gains Network) SHIB/USD	L +0.0006% / S −0.0001%	1h	0.000005985	+0.357%	$728	—	150x	as long as short
Coinbase International 1000SHIB-PERP-INTX	+0.0016%	1h	0.000005933	−0.520%	$89K	$752K	50x	as long as short
BingX 1000SHIB-USDT	+0.0026%	8h	0.000005983	+0.319%	—	$2.1M	—	as long as short
Kraken Futures PF_SHIBUSD	+0.0056%	1h	0.000005989	+0.412%	$1.1M	$763K	50x	as long as short
Lighter 1000SHIB	+0.0096%	1h	0.000005987	+0.386%	$152K	$286K	10x	as long as short
Aster 1000SHIBUSDT	+0.0100%	8h	0.000005982	+0.309%	$35K	$179K	50x	as long as short
Pacifica kSHIB	+0.0100%	1h	0.000005987	+0.386%	$12K	$4K	10x	as long as short
Binance 1000SHIBUSDT	+0.0100%	8h	0.000005986	+0.363%	$29.1M	$88.4M	75x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX SHIB-USDT-SWAP	+0.0100%	8h	0.000005984	+0.335%	$7.6M	$28.0M	50x	as long as short
Gate SHIB_USDT	+0.0100%	8h	0.000005981	+0.285%	$6.8M	$5.4M	75x	as long as short
MEXC SHIB_USDT	+0.0100%	8h	0.000005983	+0.319%	$31.9M	$15.7M	300x	as long as short
KuCoin SHIBUSDTM	+0.0100%	8h	0.000005983	+0.319%	$5.0M	$2.3M	75x	as long as short
Bitget SHIBUSDT	+0.0100%	8h	0.000005986	+0.369%	$11.7M	$12.6M	75x	as long as short
Backpack kSHIB_USDC_PERP	+0.0100%	1h	0.000005987	+0.386%	$25K	$5K	15x	as long as short
Orderly PERP_1000SHIB_USDC	+0.0100%	8h	0.000005989	+0.419%	$7K	$4K	20x	as long as short
SunX SHIB-USDT	+0.0100%	8h	0.000005996	+0.537%	$2K	$23K	20x	as long as short
SoDEX 1000SHIB-USD	+0.0100%	1h	0.000005985	+0.352%	$543	$5K	10x	as long as short
HTX SHIB-USDT	+0.0100%	8h	0.000005981	+0.285%	$403K	$620K	75x	as long as short
Phemex u1000SHIBUSDT	+0.0100%	8h	0.000005980	+0.268%	$2.2M	$5.4M	50x	as long as short
Paradex kSHIB-USD-PERPshort	+0.0101%	8h	0.000005987	+0.379%	$7K	—	20x
Extended 1000SHIB-USD	+0.0104%	1h	0.000005983	+0.323%	$53K	$4K	25x	as long as short
Injective SHIB/USDC PERPlong	+0.0187%	1h	0.000005964	long leg	$245	$67K	5.5x
GMX SHIB/USD [ETH-USDC]	L +0.0213% / S −0.2404%	1h	0.000005000	−16.164%	$1K	—	100x	as long as short
BloFin SHIB-USDT	+0.0220%	8h	0.000005980	+0.268%	$707K	$990K	50x	as long as short
Reya kSHIBRUSDPERP	+0.0323%	1h	0.000005984	+0.331%	$1	—	20x	as long as short
Hyperliquid kSHIB	+0.0675%	1h	0.000005996	+0.537%	$4.3M	$3.7M	10x	as long as short
dYdX SHIB-USD	+0.8242%	1h	0.000005988	+0.397%	$23K	$64K	10x	as long as short