Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: SoDEX against Kalshi−0.024%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 SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 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. SoDEX is 0.024% cheaper against Kalshi than usual: you would sell low and buy high (spread −0.024% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$2 on $10k: about 19 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXKSHIBPERP	0.000005946	0	get 0.0000% / 8h	1h 06m	$191K	$2.3M	2x
Short	SoDEX 1000SHIB-USD	0.000005945	0.0100	get 0.0013% / 1h	6m 21s	$492	$5K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −0.024%Rate

Funding earned: $21
Price spread: −0.024% → 0.000%: −$2.35
Slippage, 4 orders: no order book: not counted
Fee Kalshi: 5 bp × 2 orders: −$10
Fee SoDEX: 4 bp × 2 orders: −$8
Net: $0.65
Costs to cover: 0.180%
Break-even: 6.8 days

Slippage unknown: Kalshi: live order book, 2 min ago; SoDEX: 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	5.79 bp	10.8 bp −$11	19.4 bp −$194	doesn't fit	doesn't fit
Sell SoDEX no order-book sample	—	—	—	—	—

SoDEX: 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
Kraken Futures PF_SHIBUSD	−0.0295%	1h	0.000005942	−0.066%	$1.1M	$916K	50x	as long as short
Coinbase International 1000SHIB-PERP-INTX	−0.0032%	1h	0.000005995	+0.817%	$133K	$1.1M	50x	as long as short
dYdX SHIB-USD	0.0000%	1h	0.000005944	−0.044%	$23K	$64K	10x	as long as short
Kalshi KXKSHIBPERPlong	0.0000%	8h	0.000005946	long leg	$191K	$2.3M	2x
Deribit 1000SHIB_USDC-PERPETUAL	0.0000%	1h	0.000005944	−0.040%	$46K	$61K	25x	as long as short
gTrade (Gains Network) SHIB/USD	L +0.0006% / S 0.0000%	1h	0.000005943	−0.066%	$561	—	150x	as long as short
Injective SHIB/USDC PERP	+0.0033%	1h	0.000006040	+1.574%	$248	$134K	5.5x	as long as short
BingX 1000SHIB-USDT	+0.0080%	8h	0.000005942	−0.074%	—	$2.1M	—	as long as short
Lighter 1000SHIB	+0.0096%	1h	0.000005948	+0.027%	$160K	$615K	10x	as long as short
Hyperliquid kSHIB	+0.0100%	1h	0.000005950	+0.061%	$3.6M	$4.8M	10x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster 1000SHIBUSDT	+0.0100%	8h	0.000005942	−0.077%	$40K	$320K	50x	as long as short
Binance 1000SHIBUSDT	+0.0100%	8h	0.000005950	+0.061%	$29.1M	$102.7M	75x	as long as short
OKX SHIB-USDT-SWAP	+0.0100%	8h	0.000005947	+0.010%	$9.2M	$35.9M	50x	as long as short
Gate SHIB_USDT	+0.0100%	8h	0.000005939	−0.124%	$6.9M	$5.9M	75x	as long as short
MEXC SHIB_USDT	+0.0100%	8h	0.000005942	−0.074%	$29.4M	$17.5M	300x	as long as short
KuCoin SHIBUSDTM	+0.0100%	8h	0.000005941	−0.091%	$4.9M	$2.7M	75x	as long as short
Bitget SHIBUSDT	+0.0100%	8h	0.000005940	−0.108%	$11.1M	$14.4M	75x	as long as short
Backpack kSHIB_USDC_PERP	+0.0100%	1h	0.000005953	+0.111%	$23K	$7K	15x	as long as short
Orderly PERP_1000SHIB_USDC	+0.0100%	8h	0.000005945	−0.024%	$6K	$4K	20x	as long as short
SunX SHIB-USDT	+0.0100%	8h	0.000005952	+0.094%	$2K	$24K	20x	as long as short
SoDEX 1000SHIB-USDshort	+0.0100%	1h	0.000005945	−0.024%	$492	$5K	10x
HTX SHIB-USDT	+0.0100%	8h	0.000005940	−0.108%	$406K	$583K	75x	as long as short
Phemex u1000SHIBUSDT	+0.0100%	8h	0.000005951	+0.077%	$2.1M	$6.7M	50x	as long as short
Extended 1000SHIB-USD	+0.0104%	1h	0.000005941	−0.083%	$53K	$4K	25x	as long as short
Paradex kSHIB-USD-PERP	+0.0110%	8h	0.000005948	+0.024%	$7K	$13	20x	as long as short
Pacifica kSHIB	+0.0135%	1h	0.000005946	−0.007%	$12K	$4K	10x	as long as short
GMX SHIB/USD [ETH-USDC]	L +0.0213% / S −0.2404%	1h	0.000005000	−15.916%	$1K	—	100x	as long as short
BloFin SHIB-USDT	+0.0220%	8h	0.000005956	+0.161%	$873K	$886K	50x	as long as short
Reya kSHIBRUSDPERP	+0.0323%	1h	0.000005941	−0.092%	$1	—	20x	as long as short