Funding you earn now, next payment 12:00 UTC+0.0100%/8h= +10.9% APRnext payment +$1.00 per $10,000 · paid last 24h +0.030%
Price spread now: Orderly against Kalshi−0.059%52s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 5 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Funding pays, the price is against you. Orderly is 0.059% cheaper against Kalshi than usual: you would sell low and buy high (spread −0.059% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$6 on $10k: about 47 hours of funding at the current rate (+$3 a day). The two prices were read 52 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 | 0.000006110 | 0 | get 0.0000% / 8h | 3h 02m | $108K | $3.5M | 2x |
| Short | Orderly PERP_1000SHIB_USDC | 0.000006106 | 0.0100 | get 0.0100% / 8h | 7h 02m | $7K | $4K | 20x |
Kalshi KXKSHIBPERP
Orderly PERP_1000SHIB_USDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Orderly 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
- $21
- Price spread: −0.059% → 0.000%
- −$5.89
- Slippage, 4 orders
- no order book: not counted
- Fee Kalshi: 5 bp × 2 orders
- −$10
- Fee Orderly: 3 bp × 2 orders
- −$6
- Net
- −$0.89
- Costs to cover
- 0.160%
- Break-even
- 7.3 days
Slippage unknown: Kalshi: live order book, 1 min ago; Orderly: 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, 1 min ago | 8.59 bp | 16.3 bp −$16 | 22.8 bp −$228 | doesn't fit | doesn't fit |
| Sell Orderly no order-book sample | — | — | — | — | — |
Orderly: 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 | 0.000006115 | +0.088% | $132K | $1.7M | 50x | as long as short |
| Kalshi KXKSHIBPERPlong | 0.0000% | 8h | 0.000006110 | long leg | $108K | $3.5M | 2x | |
| gTrade (Gains Network) SHIB/USD | L +0.0006% / S 0.0000% | 1h | 0.000006109 | −0.010% | $577 | — | 150x | as long as short |
| Injective SHIB/USDC PERP | +0.0033% | 1h | 0.000006040 | −1.139% | $248 | $134K | 5.5x | as long as short |
| BingX 1000SHIB-USDC | +0.0070% | 8h | 0.000006102 | −0.124% | — | $1.6M | — | as long as short |
| Deribit 1000SHIB_USDC-PERPETUAL | +0.0077% | 1h | 0.000006113 | +0.056% | $49K | $53K | 25x | as long as short |
| Lighter 1000SHIB | +0.0096% | 1h | 0.000006111 | +0.023% | $157K | $648K | 10x | as long as short |
| Kraken Futures PF_SHIBUSD | +0.0098% | 1h | 0.000006114 | +0.066% | $1.2M | $1.0M | 50x | as long as short |
| Aster 1000SHIBUSDT | +0.0100% | 8h | 0.000006107 | −0.038% | $41K | $295K | 50x | as long as short |
| Pacifica kSHIB | +0.0100% | 1h | 0.000006110 | +0.007% | $12K | $6K | 10x | as long as short |
Coinbase International 1000SHIB-PERP-INTX
gTrade (Gains Network) SHIB/USD
Injective SHIB/USDC PERP
BingX 1000SHIB-USDC
Deribit 1000SHIB_USDC-PERPETUAL
Lighter 1000SHIB
Kraken Futures PF_SHIBUSD
Aster 1000SHIBUSDT
Pacifica kSHIBShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance 1000SHIBUSDT | +0.0100% | 8h | 0.000006103 | −0.104% | $31.0M | $129.7M | 75x | as long as short |
| OKX SHIB-USDT-SWAP | +0.0100% | 8h | 0.000006105 | −0.075% | $9.8M | $47.0M | 50x | as long as short |
| Gate SHIB_USDT | +0.0100% | 8h | 0.000006102 | −0.124% | $7.2M | $7.2M | 75x | as long as short |
| MEXC SHIB_USDT | +0.0100% | 8h | 0.000006095 | −0.239% | $28.0M | $20.6M | 300x | as long as short |
| KuCoin SHIBUSDTM | +0.0100% | 8h | 0.000006105 | −0.075% | $4.7M | $3.2M | 75x | as long as short |
| Bitget SHIBUSDT | +0.0100% | 8h | 0.000006102 | −0.124% | $11.5M | $17.7M | 75x | as long as short |
| Backpack kSHIB_USDC_PERP | +0.0100% | 1h | 0.000006116 | +0.105% | $24K | $9K | 15x | as long as short |
| Orderly PERP_1000SHIB_USDCshort | +0.0100% | 8h | 0.000006106 | −0.059% | $7K | $4K | 20x | |
| SunX SHIB-USDT | +0.0100% | 8h | 0.000006127 | +0.285% | $2K | $26K | 20x | as long as short |
| SoDEX 1000SHIB-USD | +0.0100% | 1h | 0.000006116 | +0.105% | $520 | $5K | 10x | as long as short |
| HTX SHIB-USDT | +0.0100% | 8h | 0.000006108 | −0.026% | $419K | $538K | 75x | as long as short |
| Phemex u1000SHIBUSDT | +0.0100% | 8h | 0.000006116 | +0.105% | $2.1M | $7.8M | 50x | as long as short |
| Paradex kSHIB-USD-PERP | +0.0101% | 8h | 0.000006109 | −0.012% | $7K | $13 | 20x | as long as short |
| Extended 1000SHIB-USD | +0.0104% | 1h | 0.000006102 | −0.126% | $54K | $4K | 25x | as long as short |
| Hyperliquid kSHIB | +0.0129% | 1h | 0.000006109 | −0.010% | $3.7M | $5.5M | 10x | as long as short |
| GMX SHIB/USD [ETH-USDC] | L +0.0212% / S −0.2404% | 1h | 0.000006000 | −1.794% | $1K | — | 100x | as long as short |
| BloFin SHIB-USDT | +0.0220% | 8h | 0.000006110 | +0.007% | $917K | $944K | 50x | as long as short |
| Reya kSHIBRUSDPERP | +0.0323% | 1h | 0.000006112 | +0.035% | $1 | — | 20x | as long as short |
| dYdX SHIB-USD | +0.7048% | 1h | 0.000006108 | −0.030% | $32K | $75K | 10x | as long as short |
Binance 1000SHIBUSDT
OKX SHIB-USDT-SWAP
Gate SHIB_USDT
MEXC SHIB_USDT
KuCoin SHIBUSDTM
Bitget SHIBUSDT
Backpack kSHIB_USDC_PERP
SunX SHIB-USDT
SoDEX 1000SHIB-USD
HTX SHIB-USDT
Phemex u1000SHIBUSDT
Paradex kSHIB-USD-PERP
Extended 1000SHIB-USD
Hyperliquid kSHIB
GMX SHIB/USD [ETH-USDC]
BloFin SHIB-USDT
Reya kSHIBRUSDPERP
dYdX SHIB-USD