Funding you earn now, next payment 08:00 UTC−0.0024%/8h= −2.6% APRpaid last 24h −0.001%
Price spread now: Coinbase International against Kalshi−0.179%7-day average +0.029% · you buy dearer than you sell
Net, funding: paid 7d − costs−$56as in the Funding arb table
Net, price: spread back to 7d avg − costs−$77as in the Price arb table
costs, in and out, $10k−$560.557% of the position
Funding, last 7 days+0.002%$0 on $10k
+Price spread, last 4 days (all we have)+0.005%+$1 · spread now −0.179%, 7d avg +0.029%
=Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Coinbase International is 0.208% cheaper against Kalshi than usual: you would sell low and buy high (−$21 if the spread goes back to its 7-day average of +0.029%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kalshi KXKSHIBPERP | 0.000005991 | 0 | get 0.0000% / 8h | 3h 45m | $144K | $3.2M | 2x |
| Short | Coinbase International 1000SHIB-PERP-INTX | 0.000005980 | −0.0024 | pay 0.0003% / 1h | 45m 06s | $129K | $1.7M | 50x |
Kalshi KXKSHIBPERP
Coinbase International 1000SHIB-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International against Kalshi. 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
- −$5.04
- Price spread: −0.179% → +0.029%
- −$20.81
- Slippage, 4 orders
- −$35.73
- Fee Kalshi: 5 bp × 2 orders
- −$10
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$81.57
- Costs to cover
- 0.557%
- Break-even
- never at this rate
Slippage from Kalshi: live order book, 3 min ago; Coinbase International: live order book, 4 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 Kalshi live order book, 3 min ago | 8.01 bp | 13.0 bp −$13 | 20.2 bp −$202 | doesn't fit | doesn't fit |
| Sell Coinbase International live order book, 4 min ago | 9.19 bp | 14.2 bp −$14 | 19.4 bp −$194 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Coinbase International 1000SHIB-PERP-INTXshort | −0.0024% | 1h | 0.000005980 | −0.179% | $129K | $1.7M | 50x | |
| Kalshi KXKSHIBPERPlong | 0.0000% | 8h | 0.000005991 | long leg | $144K | $3.2M | 2x | |
| Deribit 1000SHIB_USDC-PERPETUAL | 0.0000% | 1h | 0.000005988 | −0.045% | $50K | $59K | 25x | as long as short |
| gTrade (Gains Network) SHIB/USD | L +0.0006% / S 0.0000% | 1h | 0.000005987 | −0.065% | $565 | — | 150x | as long as short |
| Injective SHIB/USDC PERP | +0.0033% | 1h | 0.000006040 | +0.823% | $248 | $134K | 5.5x | as long as short |
| BingX 1000SHIB-USDC | +0.0070% | 8h | 0.000005991 | +0.005% | — | $1.6M | — | as long as short |
| Lighter 1000SHIB | +0.0096% | 1h | 0.000005991 | +0.005% | $156K | $642K | 10x | as long as short |
| Kraken Futures PF_SHIBUSD | +0.0100% | 1h | 0.000005986 | −0.078% | $1.2M | $1.0M | 50x | as long as short |
| Hyperliquid kSHIB | +0.0100% | 1h | 0.000005996 | +0.088% | $3.6M | $5.5M | 10x | as long as short |
| Aster 1000SHIBUSDT | +0.0100% | 8h | 0.000005988 | −0.047% | $41K | $299K | 50x | as long as short |
Deribit 1000SHIB_USDC-PERPETUAL
gTrade (Gains Network) SHIB/USD
Injective SHIB/USDC PERP
BingX 1000SHIB-USDC
Lighter 1000SHIB
Kraken Futures PF_SHIBUSD
Hyperliquid kSHIB
Aster 1000SHIBUSDTShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Pacifica kSHIB | +0.0100% | 1h | 0.000005989 | −0.028% | $12K | $6K | 10x | as long as short |
| Binance 1000SHIBUSDT | +0.0100% | 8h | 0.000005986 | −0.076% | $30.5M | $128.3M | 75x | as long as short |
| OKX SHIB-USDT-SWAP | +0.0100% | 8h | 0.000005984 | −0.112% | $8.9M | $45.0M | 50x | as long as short |
| Gate SHIB_USDT | +0.0100% | 8h | 0.000005984 | −0.112% | $7.0M | $6.9M | 75x | as long as short |
| MEXC SHIB_USDT | +0.0100% | 8h | 0.000005983 | −0.129% | $28.7M | $20.0M | 300x | as long as short |
| KuCoin SHIBUSDTM | +0.0100% | 8h | 0.000005986 | −0.078% | $4.7M | $3.2M | 75x | as long as short |
| Bitget SHIBUSDT | +0.0100% | 8h | 0.000005987 | −0.062% | $11.4M | $17.2M | 75x | as long as short |
| Backpack kSHIB_USDC_PERP | +0.0100% | 1h | 0.000005988 | −0.045% | $23K | $8K | 15x | as long as short |
| Orderly PERP_1000SHIB_USDC | +0.0100% | 8h | 0.000005989 | −0.028% | $7K | $4K | 20x | as long as short |
| SunX SHIB-USDT | +0.0100% | 8h | 0.000005999 | +0.139% | $2K | $27K | 20x | as long as short |
| SoDEX 1000SHIB-USD | +0.0100% | 1h | 0.000005988 | −0.045% | $507 | $5K | 10x | as long as short |
| HTX SHIB-USDT | +0.0100% | 8h | 0.000005990 | −0.012% | $413K | $591K | 75x | as long as short |
| Phemex u1000SHIBUSDT | +0.0100% | 8h | 0.000005991 | +0.005% | $2.1M | $7.7M | 50x | as long as short |
| Paradex kSHIB-USD-PERP | +0.0102% | 8h | 0.000005989 | −0.028% | $7K | $13 | 20x | as long as short |
| Extended 1000SHIB-USD | +0.0104% | 1h | 0.000005983 | −0.122% | $53K | $4K | 25x | as long as short |
| GMX SHIB/USD [ETH-USDC] | L +0.0212% / S −0.2404% | 1h | 0.000005000 | −16.537% | $1K | — | 100x | as long as short |
| BloFin SHIB-USDT | +0.0220% | 8h | 0.000005984 | −0.112% | $822K | $932K | 50x | as long as short |
| Reya kSHIBRUSDPERP | +0.0323% | 1h | 0.000005985 | −0.103% | $1 | — | 20x | as long as short |
| dYdX SHIB-USD | +0.8710% | 1h | 0.000005990 | −0.012% | $23K | $82K | 10x | as long as short |
Pacifica kSHIB
Binance 1000SHIBUSDT
OKX SHIB-USDT-SWAP
Gate SHIB_USDT
MEXC SHIB_USDT
KuCoin SHIBUSDTM
Bitget SHIBUSDT
Backpack kSHIB_USDC_PERP
Orderly PERP_1000SHIB_USDC
SunX SHIB-USDT
SoDEX 1000SHIB-USD
HTX SHIB-USDT
Phemex u1000SHIBUSDT
Paradex kSHIB-USD-PERP
Extended 1000SHIB-USD
GMX SHIB/USD [ETH-USDC]
BloFin SHIB-USDT
Reya kSHIBRUSDPERP
dYdX SHIB-USD