Funding you earn now, next payment 05:00 UTC+0.0033%/8h= +3.6% APRpaid last 24h +0.018%
Price spread now: Injective against Kalshi−3.048%66s7-day average +0.010% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.119%+$12 on $10k
+Price spread, last 4 days (all we have)+2.801%+$280 · spread now −3.048%, 7d avg +0.010%
=Funding pays, the price is against you. Injective is 3.058% cheaper against Kalshi than usual: you would sell low and buy high (spread −3.048% now, against its 7-day average of +0.010%). If the spread goes back, that is −$306 on $10k: about 10 months of funding at the current rate (+$1 a day). The two prices were read 66 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kalshi KXKSHIBPERP | 0.000006230 | 0 | get 0.0000% / 8h | 7h 51m | $180K | $2.5M | 2x |
| Short | Injective SHIB/USDC PERP | 0.000006040 | 0.0033 | get 0.0004% / 1h | 51m 25s | $248 | $134K | 5.5x |
Kalshi KXKSHIBPERP
Injective SHIB/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective 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
- $7
- Price spread: −3.048% → +0.010%
- −$305.83
- Slippage, 4 orders
- no order book: not counted
- Fee Kalshi: 5 bp × 2 orders
- −$10
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- −$308.85
- Costs to cover
- 0.100%
- Break-even
- 315.8 days
Slippage unknown: Kalshi: live order book, 2 min ago; Injective: 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, 2 min ago | 7.62 bp | 13.6 bp −$14 | 20.1 bp −$201 | doesn't fit | doesn't fit |
| Sell Injective no order-book sample | — | — | — | — | — |
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 | −0.0168% | 1h | 0.000006235 | +0.082% | $109K | $1.3M | 50x | as long as short |
| Kraken Futures PF_SHIBUSD | −0.0063% | 1h | 0.000006233 | +0.051% | $1.2M | $963K | 50x | as long as short |
| dYdX SHIB-USD | 0.0000% | 1h | 0.000006223 | −0.113% | $24K | $64K | 10x | as long as short |
| Kalshi KXKSHIBPERPlong | 0.0000% | 8h | 0.000006230 | long leg | $180K | $2.5M | 2x | |
| gTrade (Gains Network) SHIB/USD | L +0.0006% / S 0.0000% | 1h | 0.000006226 | −0.058% | $588 | — | 150x | as long as short |
| Injective SHIB/USDC PERPshort | +0.0033% | 1h | 0.000006040 | −3.048% | $248 | $134K | 5.5x | |
| BingX 1000SHIB-USDT | +0.0080% | 8h | 0.000006225 | −0.079% | — | $2.2M | — | as long as short |
| Lighter 1000SHIB | +0.0096% | 1h | 0.000006238 | +0.130% | $164K | $610K | 10x | as long as short |
| Aster 1000SHIBUSDT | +0.0100% | 8h | 0.000006232 | +0.034% | $43K | $322K | 50x | as long as short |
| Binance 1000SHIBUSDT | +0.0100% | 8h | 0.000006229 | −0.022% | $31.4M | $110.6M | 75x | as long as short |
Coinbase International 1000SHIB-PERP-INTX
Kraken Futures PF_SHIBUSD
dYdX SHIB-USD
gTrade (Gains Network) SHIB/USD
BingX 1000SHIB-USDT
Lighter 1000SHIB
Aster 1000SHIBUSDT
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 | 0.000006229 | −0.014% | $10.0M | $39.7M | 50x | as long as short |
| Gate SHIB_USDT | +0.0100% | 8h | 0.000006223 | −0.111% | $7.3M | $6.1M | 75x | as long as short |
| MEXC SHIB_USDT | +0.0100% | 8h | 0.000006223 | −0.111% | $31.8M | $18.5M | 300x | as long as short |
| KuCoin SHIBUSDTM | +0.0100% | 8h | 0.000006224 | −0.095% | $4.9M | $2.9M | 75x | as long as short |
| Bitget SHIBUSDT | +0.0100% | 8h | 0.000006225 | −0.079% | $11.8M | $15.2M | 75x | as long as short |
| Orderly PERP_1000SHIB_USDC | +0.0100% | 8h | 0.000006229 | −0.014% | $7K | $4K | 20x | as long as short |
| SunX SHIB-USDT | +0.0100% | 8h | 0.000006247 | +0.274% | $3K | $25K | 20x | as long as short |
| SoDEX 1000SHIB-USD | +0.0100% | 1h | 0.000006237 | +0.114% | $499 | $5K | 10x | as long as short |
| HTX SHIB-USDT | +0.0100% | 8h | 0.000006242 | +0.194% | $425K | $562K | 75x | as long as short |
| Phemex u1000SHIBUSDT | +0.0100% | 8h | 0.000006230 | +0.002% | $2.2M | $7.0M | 50x | as long as short |
| Extended 1000SHIB-USD | +0.0104% | 1h | 0.000006227 | −0.051% | $55K | $4K | 25x | as long as short |
| Paradex kSHIB-USD-PERP | +0.0122% | 8h | 0.000006233 | +0.048% | $7K | $13 | 20x | as long as short |
| Hyperliquid kSHIB | +0.0163% | 1h | 0.000006233 | +0.050% | $3.7M | $5.0M | 10x | as long as short |
| Pacifica kSHIB | +0.0188% | 1h | 0.000006233 | +0.050% | $12K | $5K | 10x | as long as short |
| GMX SHIB/USD [ETH-USDC] | L +0.0214% / S −0.2404% | 1h | 0.000006000 | −3.690% | $1K | — | 100x | as long as short |
| BloFin SHIB-USDT | +0.0220% | 8h | 0.000006231 | +0.018% | $915K | $925K | 50x | as long as short |
| Deribit 1000SHIB_USDC-PERPETUAL | +0.0231% | 1h | 0.000006239 | +0.146% | $48K | $58K | 25x | as long as short |
| Reya kSHIBRUSDPERP | +0.0323% | 1h | 0.000006225 | −0.071% | $1 | — | 20x | as long as short |
| Backpack kSHIB_USDC_PERP | +0.0514% | 1h | 0.000006237 | +0.114% | $24K | $7K | 15x | 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
Hyperliquid kSHIB
Pacifica kSHIB
GMX SHIB/USD [ETH-USDC]
BloFin SHIB-USDT
Deribit 1000SHIB_USDC-PERPETUAL
Reya kSHIBRUSDPERP
Backpack kSHIB_USDC_PERP