Funding you earn now, next payment 00:00 UTC+0.0100%/8h= +10.9% APRnext payment +$1.00 per $10,000 · paid last 24h +0.030%
Price spread now: Phemex against Kalshi+0.063%7-day average +0.082% · you sell dearer than you buy
Net, funding: paid 7d − costs−$37as in the Funding arb table
Net, price: spread back to 7d avg − costs−$53as in the Price arb table
costs, in and out, $10k−$510.515% of the position
Funding, last 7 days+0.146%+$15 on $10k
+Price spread, last 3 days (all we have)−0.005%$0 · spread now +0.063%, 7d avg +0.082%
=The price spread sits at its 7-day average of +0.082%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kalshi KXKSHIBPERP | 0.000006006 | 0 | get 0.0000% / 8h | 4h 24m | $67K | $1.9M | 2x |
| Short | Phemex u1000SHIBUSDT | 0.000006010 | 0.0100 | get 0.0100% / 8h | 24m 03s | $2.1M | $6.0M | 50x |
Kalshi KXKSHIBPERP
Phemex u1000SHIBUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex 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: +0.063% → +0.082%
- −$1.87
- Slippage, 4 orders
- −$29.47
- Fee Kalshi: 5 bp × 2 orders
- −$10
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$32.34
- Costs to cover
- 0.515%
- Break-even
- 17.8 days
Slippage from Kalshi: live order book, 4 min ago; Phemex: live order book, 5 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, 4 min ago | 7.06 bp | 12.7 bp −$13 | 20.2 bp −$202 | doesn't fit | doesn't fit |
| Sell Phemex live order book, 5 min ago | 0.83 bp | 10.6 bp −$11 | 60.8 bp −$608 | 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 | |
|---|---|---|---|---|---|---|---|---|
| dYdX SHIB-USD | 0.0000% | 1h | 0.000006010 | +0.063% | $23K | $64K | 10x | as long as short |
| Kalshi KXKSHIBPERPlong | 0.0000% | 8h | 0.000006006 | long leg | $67K | $1.9M | 2x | |
| Deribit 1000SHIB_USDC-PERPETUAL | 0.0000% | 1h | 0.000006004 | −0.037% | $46K | $65K | 25x | as long as short |
| gTrade (Gains Network) SHIB/USD | L +0.0006% / S −0.0001% | 1h | 0.000006003 | −0.047% | $730 | — | 150x | as long as short |
| Coinbase International 1000SHIB-PERP-INTX | +0.0032% | 1h | 0.000006113 | +1.778% | $81K | $791K | 50x | as long as short |
| BingX 1000SHIB-USDC | +0.0080% | 8h | 0.000005998 | −0.137% | — | $1.6M | — | as long as short |
| Lighter 1000SHIB | +0.0096% | 1h | 0.000006004 | −0.037% | $151K | $292K | 10x | as long as short |
| Aster 1000SHIBUSDT | +0.0100% | 8h | 0.000006007 | +0.009% | $35K | $175K | 50x | as long as short |
| Pacifica kSHIB | +0.0100% | 1h | 0.000006010 | +0.063% | $12K | $4K | 10x | as long as short |
| Binance 1000SHIBUSDT | +0.0100% | 8h | 0.000006002 | −0.078% | $29.5M | $95.6M | 75x | as long as short |
dYdX SHIB-USD
Deribit 1000SHIB_USDC-PERPETUAL
gTrade (Gains Network) SHIB/USD
Coinbase International 1000SHIB-PERP-INTX
BingX 1000SHIB-USDC
Lighter 1000SHIB
Aster 1000SHIBUSDT
Pacifica kSHIB
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 | 0.000006001 | −0.087% | $8.6M | $32.6M | 50x | as long as short |
| Gate SHIB_USDT | +0.0100% | 8h | 0.000005998 | −0.137% | $6.9M | $5.6M | 75x | as long as short |
| MEXC SHIB_USDT | +0.0100% | 8h | 0.000006001 | −0.087% | $29.9M | $16.4M | 300x | as long as short |
| KuCoin SHIBUSDTM | +0.0100% | 8h | 0.000006001 | −0.087% | $4.9M | $2.5M | 75x | as long as short |
| Bitget SHIBUSDT | +0.0100% | 8h | 0.000005999 | −0.120% | $11.4M | $13.4M | 75x | as long as short |
| Backpack kSHIB_USDC_PERP | +0.0100% | 1h | 0.000006002 | −0.070% | $25K | $6K | 15x | as long as short |
| Orderly PERP_1000SHIB_USDC | +0.0100% | 8h | 0.000006006 | −0.003% | $7K | $4K | 20x | as long as short |
| SunX SHIB-USDT | +0.0100% | 8h | 0.000006012 | +0.097% | $2K | $24K | 20x | as long as short |
| SoDEX 1000SHIB-USD | +0.0100% | 1h | 0.000006004 | −0.037% | $540 | $5K | 10x | as long as short |
| HTX SHIB-USDT | +0.0100% | 8h | 0.000006007 | +0.013% | $410K | $617K | 75x | as long as short |
| Phemex u1000SHIBUSDTshort | +0.0100% | 8h | 0.000006010 | +0.063% | $2.1M | $6.0M | 50x | |
| Paradex kSHIB-USD-PERP | +0.0101% | 8h | 0.000006007 | +0.015% | $7K | — | 20x | as long as short |
| Extended 1000SHIB-USD | +0.0104% | 1h | 0.000006000 | −0.099% | $53K | $4K | 25x | as long as short |
| Injective SHIB/USDC PERP | +0.0161% | 1h | 0.000006040 | +0.563% | $248 | $134K | 5.5x | as long as short |
| GMX SHIB/USD [ETH-USDC] | L +0.0213% / S −0.2404% | 1h | 0.000006000 | −0.103% | $1K | — | 100x | as long as short |
| BloFin SHIB-USDT | +0.0220% | 8h | 0.000006007 | +0.013% | $818K | $938K | 50x | as long as short |
| Reya kSHIBRUSDPERP | +0.0323% | 1h | 0.000006003 | −0.059% | $1 | — | 20x | as long as short |
| Kraken Futures PF_SHIBUSD | +0.0384% | 1h | 0.000006003 | −0.057% | $1.1M | $808K | 50x | as long as short |
| Hyperliquid kSHIB | +0.0620% | 1h | 0.000006010 | +0.063% | $4.4M | $4.0M | 10x | as long as short |
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
Paradex kSHIB-USD-PERP
Extended 1000SHIB-USD
Injective SHIB/USDC PERP
GMX SHIB/USD [ETH-USDC]
BloFin SHIB-USDT
Reya kSHIBRUSDPERP
Kraken Futures PF_SHIBUSD
Hyperliquid kSHIB