Funding arb · Price arb /

SHIB

all SHIB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0104%/8h= +11.4% APRpaid last 24h +0.031%

Price spread now: Extended against Kalshi−0.065%7-day average — · you buy dearer than you sell

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

Long on Kalshi Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.093%+$9 on $10k

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

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

Funding pays, the price is against you. Extended is 0.065% cheaper against Kalshi than usual: you would sell low and buy high (spread −0.065% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$7 on $10k: about 2.1 days of funding at the current rate (+$3 a day). At the pace of the last 7 days (+0.093% in total) that is about 4.9 days.

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 48m	$144K	$3.2M	2x
Short	Extended 1000SHIB-USD	0.000005987	0.0104	get 0.0013% / 1h	48m 07s	$53K	$4K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Kalshi. 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 KalshibpFee ExtendedbpOrdersPrice spread, now −0.065%Rate

Funding earned: $21.84
Price spread: −0.065% → 0.000%: −$6.51
Slippage, 4 orders: no order book: not counted
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: $0.33
Costs to cover: 0.150%
Break-even: 6.9 days

Slippage unknown: Kalshi: live order book, just now; Extended: 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 Kalshi live order book, just now	8.01 bp	13.0 bp −$13	20.2 bp −$202	doesn't fit	doesn't fit
Sell Extended no order-book sample	—	—	—	—	—

Extended: 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	−0.0024%	1h	0.000005980	−0.182%	$129K	$1.7M	50x	as long as short
Kalshi KXKSHIBPERPlong	0.0000%	8h	0.000005991	long leg	$144K	$3.2M	2x
gTrade (Gains Network) SHIB/USD	L +0.0006% / S 0.0000%	1h	0.000005991	−0.002%	$566	—	150x	as long as short
Injective SHIB/USDC PERP	+0.0033%	1h	0.000006040	+0.820%	$248	$134K	5.5x	as long as short
BingX 1000SHIB-USDC	+0.0070%	8h	0.000005993	+0.035%	—	$1.6M	—	as long as short
Lighter 1000SHIB	+0.0096%	1h	0.000005995	+0.068%	$156K	$641K	10x	as long as short
Kraken Futures PF_SHIBUSD	+0.0100%	1h	0.000005991	+0.002%	$1.2M	$1.0M	50x	as long as short
Hyperliquid kSHIB	+0.0100%	1h	0.000005999	+0.135%	$3.6M	$5.5M	10x	as long as short
Aster 1000SHIBUSDT	+0.0100%	8h	0.000005995	+0.062%	$41K	$299K	50x	as long as short
Pacifica kSHIB	+0.0100%	1h	0.000005988	−0.048%	$12K	$6K	10x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance 1000SHIBUSDT	+0.0100%	8h	0.000005996	+0.084%	$30.5M	$128.4M	75x	as long as short
OKX SHIB-USDT-SWAP	+0.0100%	8h	0.000005989	−0.032%	$8.9M	$45.1M	50x	as long as short
Gate SHIB_USDT	+0.0100%	8h	0.000005989	−0.032%	$7.1M	$6.9M	75x	as long as short
MEXC SHIB_USDT	+0.0100%	8h	0.000005989	−0.032%	$28.7M	$20.0M	300x	as long as short
KuCoin SHIBUSDTM	+0.0100%	8h	0.000005989	−0.032%	$4.7M	$3.2M	75x	as long as short
Bitget SHIBUSDT	+0.0100%	8h	0.000005993	+0.035%	$11.4M	$17.3M	75x	as long as short
Backpack kSHIB_USDC_PERP	+0.0100%	1h	0.000005996	+0.085%	$23K	$8K	15x	as long as short
Orderly PERP_1000SHIB_USDC	+0.0100%	8h	0.000005993	+0.035%	$7K	$4K	20x	as long as short
SunX SHIB-USDT	+0.0100%	8h	0.000005997	+0.102%	$2K	$27K	20x	as long as short
SoDEX 1000SHIB-USD	+0.0100%	1h	0.000005991	+0.002%	$506	$5K	10x	as long as short
HTX SHIB-USDT	+0.0100%	8h	0.000005991	+0.002%	$413K	$591K	75x	as long as short
Phemex u1000SHIBUSDT	+0.0100%	8h	0.000005991	+0.002%	$2.1M	$7.7M	50x	as long as short
Paradex kSHIB-USD-PERP	+0.0102%	8h	0.000005989	−0.037%	$7K	$13	20x	as long as short
Extended 1000SHIB-USDshort	+0.0104%	1h	0.000005987	−0.065%	$53K	$4K	25x
GMX SHIB/USD [ETH-USDC]	L +0.0212% / S −0.2404%	1h	0.000005000	−16.540%	$1K	—	100x	as long as short
BloFin SHIB-USDT	+0.0220%	8h	0.000005985	−0.098%	$827K	$932K	50x	as long as short
Deribit 1000SHIB_USDC-PERPETUAL	+0.0251%	1h	0.000005994	+0.052%	$50K	$59K	25x	as long as short
Reya kSHIBRUSDPERP	+0.0323%	1h	0.000005989	−0.035%	$1	—	20x	as long as short
dYdX SHIB-USD	+0.8307%	1h	0.000005986	−0.083%	$23K	$82K	10x	as long as short